Hi all,
Pls find the Project scope document putup on a Google read-only word-doc here:
Google doc link
Kindly read through the entire tentative scope document carefully. Comments and feedback are welcome.
If there's something obvious that has been missed, pls let me know. If something asked for is totally unrealistic, again, let me know.
I will freeze and release the final scope document sometime on Monday after collecting feedback.
Broadly, there are 3 phases to the project, all of which are graded. Recall that the project has 40% of total course grade. This is further split thus:
Phase I: e-Questionnaire design. Worth 10% of course grade. Expected to be completed and submitted by the start of lecture 5.
Phase II: Data collection by websurvey. Worth 10% of course grade. Expected to be completed by the start of lecture 8.
Phase III: Data analysis, inferences, recommendations and report (PPT deliverable). Worth 20% of course grade. Expected to be completed and submitted by the start of lecture 10.
Lecture 3 is about survey design. Reading the relevant bits of the relevant textbook chapter would help get a headstart for Phase I, IMHO.
Some of you may have prior familiarity with the subject and could come up with questionnaire inputs directly. Others may try to do a small pilot exploratory study to get to the inputs to a questionnaire and seek help from fellow ISB students majoring in finance, friends, alums and colleagues in the field working on this subject, the management of our own local ICICI branch and their portfolio of products etc.
End of the day, your questionnaire and websurvey design will be evaluated for quality, consistency, and completeness among others.
Pls keep the websurvey to reasonable length! No more than 15 minutes at most should be taken up for a reasonable person with a reasonable net connection to take the survey.
OK, shall stop here now. Will add more updates as and when they occur.
Sudhir
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The project scope seems quite interesting although I feel that the scope might be just a little too wide. With a questionnaire as short as you require it to be, we might not be able to do justice to the analysis requirements. The scope document suggests that we analyze the current investments, the likely asset classes they are interested in, their perceptions about, the customers' media habits, perceptions about insurance and relevant banks, lifestyle and psychographic analysis, to name a few. I might be wrong but I feel that the analysis may lack depth if we try to cover everything mentioned here.For instance, assessment of media habits mostly calls for a whole different market research project itself.
ReplyDeleteRegards,
Romessa
Hi Romessa,
ReplyDeleteThanks for the feedback. In fact, IMHO (in my honest/humble opinion) this comment and subsequent discussion merits a separate blogpost, perhaps.
I did consider making the survey more 'specific' - as in restricted to a handful of asset classes. Turns out that is what I expect will happen anyway, after you've deliberated upon the options available, listed them, shortlisted from among them and arrived at an actionable set based on questionnaire design constraints. This process of creating a wide list and narrowing it down to a handful of realistic options - based on secondary data perhaps, on exploratory conversations with experts in the area, on preliminary conversations with people who fit the target profile, etc - is something IMHO the class should go through in the process of questionnaire design.
15 minutes is usually good enough for upto 40 multiple choice questions of which about 10 are simple demographic information collection. Now, the other 30 questions on topic can reveal quite a bit provided the answer categories have been arrived at and fixed with care and thought.
The websurvey isn't quite administered to total strangers in this project, so typically slightly more leeway in response and completion rates can be expected, based on last year's experience.
Perhaps you could look up what folks did last year to a topic that was just as broad. I have putup links to last year's project scope document and some posts from Oct 2009 talk about questionnaire design travails. IN fact, last year's survey should still be on, live. Try to take the survey and see how long it takes you!
As for media habits, yes, it can be made as intricate as necessary. IMHO, here, the point is to get some broad idea about media exposure of the most attractive segments of the target population which is better than nothing. Just a broad idea and not really very precise estimates or anything.
Sudhir
Hi Romessa,
ReplyDeleteExcellent feedback.
Shall respond to the comment above in a separate blogpost.
Sudhir