CAPSTONE PROJECT: PHASE III - Qualitative Research

Project Overview: The objective of this capstone project is to understand the customer perception
of products or services offered by companies operating in a particular sector. The project will
involve conducting 15 focused interviews and 4 focused group discussions with a minimum of 4
participants in each group with customers to obtain insights into their opinions and experiences
related to the products/services. (Interview time min 10 mins | focused group discussion minimum of
30 mins)

The research findings will be analyzed and used to formulate recommendations for companies in the
sector to improve their offerings.

Chapter-Based Outline:

I. Introduction (4 pages)

 Background and rationale of the project

 Research objectives:

 To identify the key factors that influence customer perception of products or

services in the chosen sector, including product quality, price, brand reputation, and
customer service.
 To explore how customers use and interact with the products or services offered by
companies in the chosen sector, including their purchasing habits and decision-
making processes.
 To evaluate the effectiveness of current marketing strategies used by companies in
the chosen sector, including advertising, promotions, and social media engagement,
in shaping customer perception.
 To provide recommendations for companies in the chosen sector on how to improve
their products or services to better align with customer needs and preferences,
based on insights gained from customer perceptions.

 Scope and limitations of the study

II. Literature Review (5 pages)

 Existing research studies related to customer perception of products/services in the sector

III. Research Methodology (5 pages)

 Research design and approach

 Sampling technique and size and profile of each of the participants.

 Data collection methods

 Data analysis techniques

IV. Data Analysis and Findings (10 pages)

 Overview of data collected

 Qualitative analysis of interviews and group discussions

  Themes and patterns identified in the data

 Insights and recommendations for companies in the sector

V. Conclusion and Recommendations (10 pages)

 Summary of research findings

 Implications and limitations of the study

 Recommendations for future research

 Recommendations for companies in the sector:

Product Level Suggestions | Promotion Related Suggestions.

VI. Appendices (2 pages)

 Interview and group discussion questions

 Video recording of each of the interviews and group discussions.

 Consent forms

 Data analysis worksheets

Page Requirement: The project report should be approximately 30 pages

Other Details:

1. Font Size: 12

2. Font: Times New Roman

3. Line Spacing: 1.5

Sample Set of Questions:

Title: Understanding the perception and buying behavior of Millennials towards mutual funds.

1. Have you ever invested in mutual funds before? If so, which ones?

Insights: Understanding the participant's experience with mutual funds and which funds they have
invested in previously. This can provide a baseline understanding of the participant's level of
familiarity with mutual funds.

2. What are your reasons for investing in mutual funds?

Insights: Understanding the participant's motivations for investing in mutual funds, such as saving for
retirement, generating income, or growing wealth. This can help to identify key factors driving
demand for mutual funds.

3. What factors do you consider when choosing a mutual fund to invest in?

Insights: Understanding the participant's criteria for selecting mutual funds, such as historical
performance, fund fees, diversification, or risk tolerance. This can help to identify the key factors that
influence investment decisions.

4. How do you perceive the risks associated with mutual fund investments?

Insights: Understanding the participant's perception of the risks associated with mutual fund
investments, such as market risk, credit risk, or liquidity risk. This can help to identify the key
concerns and challenges associated with mutual fund investments.

5. What are your expectations for returns on your mutual fund investments?

Insights: Understanding the participant's expectations for returns on their mutual fund investments,
and how these expectations may vary depending on the type of fund. This can help to identify the key
factors that drive return expectations, and the types of funds that are expected to provide higher
returns.

6. How important is the reputation of the mutual fund company when making investment
decisions?

Insights: Understanding the participant's perceptions of the importance of the reputation of the
mutual fund company, and how this may affect their investment decisions. This can help to identify
the role that reputation plays in investment decisions, and how mutual fund companies can build
trust and credibility with customers.

7. How much do you rely on the advice of financial advisors when making mutual fund investment
decisions?

Insights: Understanding the participant's reliance on financial advisors, and how this may influence
their investment decisions. This can help to identify the role of financial advisors in the investment
decision-making process, and the types of advice that are most valued by customers.

8. How do you stay informed about the performance of your mutual fund investments?

Insights: Understanding the participant's sources of information for monitoring the performance of
their mutual fund investments, and how frequently they review their investments. This can help to
identify the information channels that are most effective in communicating fund performance to
customers.

9. What are the most important factors that influence your decision to continue investing in a
mutual fund?

Insights: Understanding the participant's priorities when considering whether to continue investing in
a mutual fund, such as returns, fees, or fund performance. This can help to identify the key factors
that drive customer loyalty and retention.

10. Have you ever experienced a significant loss on a mutual fund investment? If so, how did it
affect your perception of mutual funds?

Insights: Understanding the participant's experiences with loss on mutual fund investments, and how
this may affect their perception of mutual funds as an investment option. This can help to identify the
factors that can erode customer trust and confidence in mutual funds.

11. What types of mutual funds do you prefer to invest in (e.g. equity funds, debt funds, hybrid
funds, etc.)?

Insights: Understanding the participant's preferences for different types of mutual funds, and how
these preferences may vary based on investment goals and risk tolerance. This can help to identify
the types of funds that are most in demand, and the characteristics that are most valued by
customers.

12. How do you perceive the fees and charges associated with mutual fund investments?

Insights: Understanding the participant's perceptions of the fees and charges associated with mutual
fund investments, and how these fees may affect their investment decisions. This can help to identify
the factors that drive customer sensitivity to fees, and how mutual fund companies can structure fees
and charges to meet customer expectations.

13. What are your preferred channels for investing in mutual funds (e.g. online platforms, banks,
advisors, etc.)?

Insights: Understanding the participant's preferred channels for investing in mutual funds, and how
these preferences may vary based on factors such as convenience, trust, and access to information.
This can help to identify the channels that are most effective in reaching and engaging customers.

14. How important is the reputation of the fund manager when making investment decisions?

Insights: Understanding the participant's perceptions of the importance of the reputation of the fund
manager, and how this may affect their investment decisions. This can help to identify the role of
fund managers in building customer trust and loyalty, and the characteristics that are most valued by
customers.

15. How do you perceive the tax implications of mutual fund investments?

Insights: Understanding the participant's perceptions of the tax implications of mutual fund
investments, and how these perceptions may affect their investment decisions. This can help to
identify the role of tax considerations in the investment decision-making process, and the types of
tax-related information that are most relevant to customers.
16. What role does diversification play in your mutual fund investment strategy?

Insights: Understanding the participant's approach to diversification in mutual fund investments, and
how this may affect their risk exposure and investment performance. This can help to identify the role
of diversification in managing risk and optimizing investment returns, and the types of funds that are
most effective in achieving these goals.

17. How important is transparency in the mutual fund investment process?

Insights: Understanding the participant's perceptions of the importance of transparency in the

mutual fund investment process, and how this may affect their trust in mutual fund companies. This
can help to identify the role of transparency in building customer trust and loyalty, and the types of
information that are most relevant to customers.

18 What are your perceptions of the liquidity and ease of redemption associated with mutual
funds?

Insights: Understanding the participant's perceptions of the liquidity and ease of redemption
associated with mutual funds, and how these perceptions may affect their investment decisions. This
can help to identify the role of liquidity and redemption options in the investment decision-making
process, and the types of funds that are most effective in meeting customer needs.

19.How much do you rely on historical performance data when making investment decisions?

Insights: Understanding the participant's reliance on historical performance data, and how this may
affect their investment decisions. This can help to identify the role of historical performance data in
the investment decision-making process, and the types of performance metrics that are most
relevant to customers.

20. What do you believe are the benefits of investing in mutual funds compared to other
investment options?

Insights: Understanding the participant's perceptions of the benefits of mutual funds, and how these
perceptions may affect their investment decisions. This can help to identify the key selling points of
mutual funds, and the types of benefits that are most valued by customers.

21. How do you perceive the regulatory environment governing mutual fund investments?

Insights: Understanding the participant's perceptions of the regulatory environment governing

mutual fund investments, and how these perceptions may affect their trust in mutual fund
companies. This can help to identify the role of regulations in building customer trust and loyalty, and
the types of regulations that are most relevant to customers.

22. What are your expectations for the level of risk associated with mutual fund investments?

Insights: Understanding the participant's expectations for the level of risk associated with mutual
fund investments, and how these expectations may affect their investment decisions. This can help to
identify the role of risk in the investment decision-making process, and the types of risk management
strategies that are most effective in meeting customer needs.

23. What are the most important features you look for in a mutual fund?

Insights: Understanding the participant's priorities when evaluating mutual funds, and the features
that are most important in meeting their investment goals. This can help to identify the key features
and characteristics that mutual fund companies should prioritize when developing new products and
services.

24. How much do you consider your investment horizon while investing in mutual funds?

Insights: Understanding the participant's consideration of their investment horizon, and how this
may affect their investment decisions. This can help to identify the role of investment horizons in the
investment decision-making process, and the types of funds that are most effective in meeting
different investment timelines.

25. What role does volatility play in your mutual fund investment strategy?

Insights: Understanding the participant's approach to managing volatility in mutual fund

investments, and how this may affect their investment decisions. This can help to identify the role of
volatility in the investment decision-making process, and the types of funds that are most effective in
managing volatility.

26. How do you perceive the role of mutual funds in a diversified investment portfolio?

Insights: Understanding the participant's perceptions of the role of mutual funds in a diversified
investment portfolio, and how this may affect their investment decisions. This can help to identify the
role of mutual funds in optimizing investment returns and managing risk, and the types of funds that
are most effective in achieving these goals.

27. What types of information do you find helpful when making investment decisions about
mutual funds?

Insights: Understanding the participant's preferences for information when making investment
decisions, and the types of information that are most effective in communicating the value of mutual
funds. This can help to identify the types of information that mutual fund companies should prioritize
when marketing their products and services.

28. How do you evaluate the performance of a mutual fund investment over time?

Insights: Understanding the participant's approach to evaluating the performance of mutual fund
investments, and the metrics that are most important in assessing investment returns. This can help
to identify the types of performance metrics that are most relevant to customers, and the types of
funds that are most effective in meeting these metrics.

29. How do you perceive the role of financial technology (fintech) platforms in facilitating mutual
fund investments?

Insights: Understanding the participant's perceptions of the role of fintech platforms in facilitating
mutual fund investments, and how these perceptions may affect their investment decisions. This can
help to identify the role of fintech platforms in expanding access to mutual funds, and the types of
features and capabilities that are most valued by customers.

30. What steps do you take to mitigate the risks associated with mutual fund investments?

Insights: Understanding the participant's approach to managing risks associated with mutual fund
investments, and the risk management strategies that are most effective in meeting their needs. This
can help to identify the types of risk management strategies that are most relevant to customers,
and the types of funds that are most effective in implementing these strategies.
Guidelines for undertaking a good focused group discussion:

Here are some tips for creating relevant questions and answers for focused group discussions:

Identify the objectives: Before creating questions and answers for a focused group discussion, it's
important to clearly identify the objectives of the discussion. This will help to guide the development
of questions and ensure that they are relevant to the goals of the discussion.

Keep the questions open-ended: Focused group discussions are designed to encourage open and
honest conversation among participants, so it's important to create questions that are open-ended
and encourage discussion. Avoid questions that can be answered with a simple "yes" or "no".

Use clear and concise language: The questions should be written in a way that is clear and easy to
understand. Avoid using technical jargon or overly complex language that could confuse
participants.

Be specific: Make sure that the questions are specific and focused on the topic of discussion. Avoid
broad, general questions that are difficult to answer or may lead to tangential discussion.

Use a variety of question types: Use a mix of question types, such as open-ended, closed-ended, and
probing questions, to encourage participants to share their thoughts and experiences in different
ways.

Include follow-up questions: After a participant answers a question, it's important to ask follow-up
questions to explore their answers in more depth. This can help to elicit more detailed and nuanced
responses from participants.

Develop answers to guide the discussion: In addition to questions, it can be helpful to develop
answers or prompts that can guide the discussion and keep it focused on the topic at hand. These
can be used to help steer the conversation back on track if it veers off topic.

Overall, creating relevant questions and answers for focused group discussions requires careful
planning and consideration of the objectives of the discussion, the language used, and the types of
questions asked. With the right approach, focused group discussions can be a powerful tool for
gaining insights into customer perceptions and experiences.