The Information Gathering Techniques

Published Date: 02 Nov 2017

1. INTRODUCTION

Start up business is not easy. There are many things to prepare yourself. Not only money and documents. Sometimes, you have to know common sense which is basic of business law. Also need to get to know what kind of business are around

1.1 Objectives

The aim of my research is to analyze what you have to know before start up business. A Business plan will be the first step for this report. Then it will cover some legalities, Intellectual Property, Time management, Teamwork Skills and Budge planning as well.

2. METHODOLOGY

My research begins from internet source to find meaning of business vocabulary then go to Raffles Institute Library to look through business books such as business marketing, The entrepreneur's guide to starting a successful business, etc.. Also, back to use internet sources to identify what other people's opinion about budget planning.

3 Analysis: Research Report 2

To get a product takes many steps to be sold to customers. From brief, research, analysis, concept to product that it requires to have more research to give much better quality product to customer. Also, for a company to take higher profit.

3.1 Information Gathering Techniques

Information gathering techniques is a way to collect information from different ways.

There are some ways to get information.

1. Internal Team meeting.

Communication with all employees is important to gather more information.

2. Formal customer meeting

This is one of good ways to figure out what social really needs. This method needs surveys or interview.

3. Templates

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4. Special Discussion

Face to Face meeting for details. It helps to build deeper communication.

5. Summary

Effective project information management is vital for successful project communications and team management. The four methods of information gathering allow you to make your project more sustainable through collecting and disseminating necessary information to the team, executives and stakeholders.

3.1.1 Survey

Survey is defined as data collection that look for information from people and collected all things you needed. It can be on paper or online.

Most surveys use closed questions to be short and proven answers

There are two types of Survey; Demographics and Psychographics.

1. Demographics

It is a described of group that more like quantitative numerical purpose data.

A questionnaire in a survey, census or poll collects primary data.

Online would be for secondary data.

Gender, Personal Income, race, education, religion, household size, age are common demographic choices.

2. Psychographics

To get quantitative data, using subjective information that need to research challenges to measure the qualitative.

It usually use structured Interview or survey to collected by questionnaire.

Music tastes, lifestyle choices, opinions and personality traits are common psychographic options.

For product companies use psychographics questionnaire that in this type can be divided into two different question types; Likert Scales and Semantic Scales

Likert Scales

Example:

To what extend do you agree or disagree with this statement?

1. If I had more money, I could be more stylish

Strongly Agree

Agree

Neither Agree nor Disagree

Disagree

Strongly Disagree

Semantic Scales

Example:

1. If GAP were a person, what kind of person would it be?

Circle the number on the scale that reflects your opinion

Honest 1 2 3 4 5 6 7 Dishonest

Fashionable 1 2 3 4 5 6 7 Unfashionable

Generous 1 2 3 4 5 6 7 Greedy

Traditional 1 2 3 4 5 6 7 Modern

Rude 1 2 3 4 5 6 7 Polite

Serious 1 2 3 4 5 6 7 Fun

Interview

Interview is a perfect method for who is looking for subjective opinions from personal details. It helps to have deeper and more knowledgeable answers.

This method use open-ended question which is detailed and long answers.

For this, have to record interviews using recorder to not miss all the answers.

Sometimes, Product companies find some people to do interviews, especially, celebrities so that it helps as advertisement and promoting own product with low price.

Good way to have interview is to prepare questions with who, what, where, why, when and how.

Explain study& get consent from all participants.

Focus Group

Organised discussions with a moderator and limited number of participants (often 8-12)

Qualitative method to study opinions, motivations, attitudes & group interaction

Moderators should remain neutral, ask open ended questions, speak only when necessary & record session.

3.2 Product testing and analysis: SWOT analysis

SWOT analysis is divided into Strength, Weakness, Opportunities and Treats.

From this step, company can find problems to improve more and develop.

Strength is talking about good things of a product which means what kind of things from the good can be better than competitors. Why the product is so special can give an answer why the company should sell it.

Weakness is, to find improvement that should avoid and why lose sales from the factors.

Opportunities is trends and social patterns, lifestyle changes, population profits and so on.

Threat is, what company face obstacles and to know more of competitors. ......등등

3.3 Value Management

To focus on project costs is important that it provides predictable costs to move toward magnificent range performance with budget.

Different range is shown depends on cheaper quality or smaller quantities as a replacement for changeover as unique.

It is best applied in the earlier stages of definition and planning.

Differs radically from simple cost cutting - based on smaller quantities or cheaper quality

- as a replacement for it depends on creative substitution

Is best applied in the earlier stages of definition and planning.

A systematic and creative effort to ensure that overall, product and performance anr provided at the lowest total cost, consistent with project objectives

Benefits

VM often results in improved performance

And/or appearance and simplification

At a payoff many times the cost of the VM program

Disadvantages

VM is not always popular- because its "real" front end cost

- Compared to "notional" downstream savings

Also, seen by designers as a threat to their credibility

The problem

Traditional design practice

Tends to result in the various disciplines developing individual solutions

Each meet their respective requirements, design and configuration criteria

-But are sub-optimal as a whole

-Because the respective efforts are "compartmentalized"

- And each have taken unilateral decisions on performance and safety factors, etc

The result

may even have the collective effect of modifying original project criteria and requirements

What does PVM require?

A team approach

Representation by eventual owners, designers, implementers and users

- who are knowledgeable of the subject

-and have decision-making authority

One or more "creative" workshops

The exercise of imagination

A willigness to forego pet solutions

A focus on overall project objective and functionality - Targeting areas likely to yield the most benefits,

Orchestration by an experienced, cost-oriented PVM facilitator

Supported by estimating capability.

How is PVM applied

Creative workshop

Five steps

Information

Speculation

Analysis

Proposal

Final Report

The objective is

To obtain optimum value for every dollar spent in the selected areas

-Provided an information base or "cost model"

- Select areas for detailed study

Questions

-what is it?

-what does it do?

-What does it cost?

-What is its value ( Do we really need it?)

-What would do the same job?

-At what alternative cost?

Techniques

Functional Analysis

Cost-worth concept

Graphical analysis

Cost and energy modeling

Speculation

Objectives

Generate alternatives for meeting requirements

Questions

-What else will meet the required function

Techniques

Creative thinking process - brainstroming

Analysis

Objective

Evaluate and select best cost saving alternatives

Questions

- What will each alternative cost?

-Will the alternatives meet the essential functions?\

- Which propositions have the greatest cost savings?

Techniques

Life cycle costing

Weighted constraints evaluation

Idea rating

Proposal

Objectives

Present best alternatives to the decision maker

Questions

- what is the best way to present the proposals?

-and the most convincing?

Techniques

Narrative reports

Schematic displays

Graphic Illustrations

Video clips of similar installations

Final Report

Define and quantify results

Questions

What was actually approved/implemented?

Techniques

Standardized comparative reporting

PVM is not without its hazards

To some it is an interference in the design process

- Toes can be stepped on

PVM is best applied early in the conceptual design

-at this stage it can be seen as a help rather than a hindrance

-and avoiding unnecessary rework

Follow up workshops can by added during design

- with special focus as needed

3.4 Product Matrix

A marketing tool that outlines the different strategies a company can use in order to increase market share or introduce a new product. The strategy that a company uses depends on whether or not a company or product is already present in a market. The four main strategies are market penetration, product development, market development and diversification.