Continuing on as part of the lecture series on market research, on April 26th, INTAGE market research specialists visited Vietnam Japan University to conduct a seminar for Master of Business Administration students of the 4th and 5th intakes on how to conduct market research professionally from the very beginning through a case study.
Led by a Business Development Manager from INTAGE, Mr. Phuc Tran, the seminar was opened with a short review of the standard market research procedure. After the review, the participants were introduced to a typical client brief to conduct market research for a half-baked cake as a new product concept in the Vietnamese market. The MBA students were divided into three teams to answer questions to understand the client brief and the research design suitable for answering the requests in the client brief. The prize for the best team was cakes from Bread Factory prepared by INTAGE staff.
The students attended had varying degrees of understanding about research methods in general and made for a fun and engaging competition. At the end of the competition, we all have learned about the quantitative and qualitative methods suitable for market research, how to conduct each type of such research, how to build a research plan and what it will help measure, understand the budget limitations when offering market research options.
Following the interactive activity, Mr. Phuc Tran introduced to us the finalized research proposal for the case study and the finalized full report. These documentation showed us how the end results from the raw data of a market research is evaluated to meet the brief requirements. Market research is exciting but sure is a lot of hard work too.
Of course, we all shared the cakes later.