The Business Research Requests & Proposals

Topic Three
Class Three

Todays Agenda
Review of Case #1 RFP Research Proposal Ask a question and risk looking foolish for a minute; fail to ask a question and risk looking stupid for a lifetime."

Case # 2

A Chinese Saying

Review of Case # 1
Management Dilemma: Management is concerned with the reports and information that the competing institutions are increasingly offering targeted and subject-specific MBA programs, however they are unsure about the long term impact and viability of such programs for SZABIST

Management Questions:
1. Do the subject specific programs offer significant benefits to the institutions and how best these programs could be selected and leveraged

2. What functional issues are related with such programs and how those could be managed i.e. financial viability, faculty availability, facilities and administrative capabilities, etc.

Review of Case # 1
Research Questions:
1. To evaluate the potential and realized benefits associated with such programs
To determine the criteria for selecting programs having significant potential To determine the size of the segments under consideration

2.

3.

4.
5.

To review industry practices and progress

To explore operational issues associated with such programs

6.

To evaluate course structure i.e. core & optional courses

Research Request & Proposals

A Communication Issue!

Research Request & Proposals

Internal

External

Research Requests & Proposals

Review Cost Exceeds Value

Research Question

Budget & Value

Value Exceeds Cost

Decision Without Research

Develop & Distribute External RFP

Develop Internal Research Proposal

Review Proposal

Review Suppliers Proposals Award Research Contract

Approve Budget & Design

Budget or Design Rejected

Decision Without Research

Proposal Approved

Execute Research

RFP Request for Proposal

The research brief is the statement that sets out: The background to the research and

What objectives it is hoped will be met

RFP is a formal bid request for research to be done by an outside supplier of research services

RFP Answers the Following Questions

1. Why do this market research? What action will be taken when the research is completed? 2. What has caused this problem or led to this opportunity? 3. What is known about the area of research already?

4. Target groups for the research?

5. What specific information is needed from the research? (e.g. market size, trends, buying behavior, customer needs, segmentation)
Cont

RFP Answers the Following Questions

6. What is the proposed budget? 7. Are there any initial ideas for the research method? 8. Are there any reporting requirements? 9. When are the findings required?

RFP Benefits
Formalize research procurement process Provide control function Provide evaluation opportunity

RFPs
Provide monitoring device Establish performance expectations

RFP Activities in Process

Qualify potential vendors

Write and distribute RFP

Answer supplier questions

Evaluate submissions Award contracts and start

Provide critique to all suppliers

RFP - The First Review

What Should an Ideal RFP have?
Background (may include management dilemma and questions, industry, product/service category, competition, developments, etc. Research Objectives (depending upon Organizations more research savvy do it themselves, new entrants rely on research providers) Proposed Methodology (rarely by client) Deliverables (requirements from agency i.e. PPT or worksheets)

Timing Requirements
Budgets (cost) Other Requirements (i.e. client would attend field briefing)

De Mystifying RFP

Should be able to tell you some thing about the Category, The Brand , and should give a Perspective The Context predicts the future The where and What once cleared If it does canthe client stakewhy think of not link youthe the holder and check to website Clarify who is the does previous will be impacted by the who advertising you have come using TheLast but not the the history of the three determine the research across , try and learn least How clients proposed initiatives / objectives categoryclient indicates some times the What link you to the The where and the / brand Plans in the RFP but in most cases it is next Part Regardless of what the client has Leads to Building Objectives embedded in the a Context Within this lies your Target Market written in the brief

RFP Evaluation Simplified

Read The RFP at least Twice

Does it give Category perspective

Does it give brand perspective

Your Task Identify the gaps Call the client get clarifications Add info to the brief

Is the Business objective clear

Have You been able to Gauge the research objectives

Research Objectives

Are a bit of all of the above with a varying degree of importance depending on the brief and a combination of these result in focused well identified and well articulated Research Objectives

Evaluating Objectives Objectively

All Objectives can be broadly categorized into two types
Those that ask for Matter of Fact Facts
Who How How many / how Much When Where

Those That ask for reasons

Why

Qualitative Research

Quantitative Research

Well Stated Objectives

Are triple C?
Clear do not have any ambiguity do not leave anything to imagination Crisp are brief yet complete

Candid State honestly what exactly will be measured / explored by default clarifying what cannot be measured or explored

Action Standard
Action
The next step,

the logical next move after the research

Standard
What is the achievement which leads to a certain action A simple statement of fact

Action Standards
Defines the way forward It should Be Crisp and Clear like the Objectives
If A, the course of action will be X If B, the course of action will be Y

In essence Action standard defines the Test Hypothesis

Drafting Objectives

Read The RFP at least Twice

Revisit the information you have collected

Formulate the business objective

Identify what information can help the client achieve his desired business objective

Identify the information that you can provide to the client using the capabilities your firm has to offer

Your Task Business objective Research objectives Action Standard

Scope of the Study

Define the Objectives

Defines the Target Group

From Whom

What

Defines the Geography

From Where

When Target Group is not Specified

The Target Group that client has given is usually from some internal perspective.
Understand his/ her perspective

Check with the client for whom he / she intends to position their brand or category
Identify the primary Target group The secondary Target groups

Try to be as detailed in this definition as possible

Age SEC Usage

Operationally define Descriptors in measureable terms

Forward thinking Upwardly Mobile

When Geographical Scope is Not Specified

The Geographical scope that the client has given is usually from some internal perspective.
Understand his/ her perspective

When Geography is not specified

Identify the high impact / high distribution markets for the clients Brand / category Try to understand their current and future distribution strategy Market selection
National Coverage if required ensure complete coverage culturally if pertinent Use 80:20 rule select currently strong / high potential markets for the research

Scoping the Study

Establish the primary and secondary target of the study

Operationally define any immeasurable descriptors

Understand the distribution / future distribution of the category

Ensure that the intended distribution is in synch with the TG (these are the areas where they are most likely to be found)

Articulate the Scope of the Study

Your Task Define the Target market define the geographical coverage

Methodology is dependent on the previous scoping you have done

Objectives

Target Group

Method selection

Geography

Research Proposal
The proposal is the document, prepared by whoever will carry out the research. It is, as the name suggests, a proposal for carrying out a project and becomes the basis of the contractual obligation between the sponsor and the research agency.

Research Proposal

Research Proposal
The Introduction The Objectives The Methods Time Schedule Costs

Research Proposal
Present management question

Suggest data collection and analysis

Purpose

Discuss research efforts

Propose necessary data

Research Proposal Complexity

Research Proposal Structuring

Executive Summary Research Qualifications

Problem Statement
Research Objectives Literature Review Importance/ Benefits of Study Research Design Data Analysis

Budget
Schedule Facilities Project Management Bibliography Appendices

Nature/Form

Research Project Management

Financial/ Legal responsibility Management competence

Organization of research team

Team relationship with client

Plan Elements Procedures Examples of past work

Research Project Management

CPM PERT GANTT CHARTS

Real Life Examples

RFP Format RFP An Example

Proposal An Example