What about Research Design?

In this post we are goint to present our research design for our VR broadcasting service.

The purpose of our research is to evaluate the consumer response to our idea. In order to to understand this, we need to answer the following questions:
1) What kind of customers are ready to accept the VR broadcasting technology?
Sub-question 1: What are the main physical characteristics?
Sub-question 2: What are the main social characteristics?
Sub-question 3: What are the main psychological characteristics?

2) What value can bring our technology to the customers?
Sub-question 1: What are the latent needs of customers? By latent needs we mean the reasons why people are attending music concert, live events, conferences.
Sub-question 2: What are the explicit needs? Explicit needs which include customer preferences and current pain points.

Answers to all these questions will help us to identify the need and our potential target audience and shape the marketing strategy.

To achieve a goal, we are going to use both: quantitative and qualitative methods of research.
Firstly, we are going to conduct an online survey. Secondly, we will accomplish the results gained from the survey by conducting field interviews.

Let’s get a dive into the details of our data collection process.

1. Online Survey
We are going to use online platform Survey Monkey to create the survey and collect the responses because we think it is one of the most powerful tools which can be exploited for free. The audience we want to reach by the survey includes people from the biggest cities of Russia. We are going to distribute the survey by our means using VK and Odnoclassniki social networks. We are planning to keep survey open from 28th of March to 5th of April. After, we are going to use statistical methods to analyze the data and generate the insights. The questionnaire can be found in the appendix of this post.

2. Semi-structured Interviews
We are going to interview people who has already tried the VR technology in gaming and for entertainment purposes. The purpose of the interview is twofold. First, we want to investigate the emotions from using the technology (if they like it or not and why). Second, we will try to sell our service to these people and investigate what kind of expectations it should meet and what services should be included in order to make people willing to buy our product. We are going to ask 10 different people. The interviews will take place in shopping malls in the VR-technology spots (usually these spots are located near the cinema on the last floor of the shopping center). We are planning to finish the interviews by the 10th of April. Then, we are going to use coding technics to generate the most valuable insights.

In conclusion, we want to share our work plan after we collect the data. First, we will use the data to analyze and segment the target audience. Then, we are going to set a marketing strategy and define the marketing mix. In the end, we will provide the recommendations for launching our service.