This document discusses lessons learned about properly conducting a focus group discussion. It explains that a focus group involves 6-10 participants led by a moderator to discuss a specific topic for 90 minutes to 2 hours. When selecting participants, it is important to screen out experts in the topic area or relatives of people in related industries to get unbiased responses. The moderator should get permission to record, assure confidentiality of responses, and avoid revealing the specific client objectives to get honest answers from participants. Projective techniques should be used to get more reliable responses, and all answers should be clarified without assumptions. Conducting focus groups can help a financial advisor understand client needs and perspectives to better market themselves.
This document discusses lessons learned about properly conducting a focus group discussion. It explains that a focus group involves 6-10 participants led by a moderator to discuss a specific topic for 90 minutes to 2 hours. When selecting participants, it is important to screen out experts in the topic area or relatives of people in related industries to get unbiased responses. The moderator should get permission to record, assure confidentiality of responses, and avoid revealing the specific client objectives to get honest answers from participants. Projective techniques should be used to get more reliable responses, and all answers should be clarified without assumptions. Conducting focus groups can help a financial advisor understand client needs and perspectives to better market themselves.
This document discusses lessons learned about properly conducting a focus group discussion. It explains that a focus group involves 6-10 participants led by a moderator to discuss a specific topic for 90 minutes to 2 hours. When selecting participants, it is important to screen out experts in the topic area or relatives of people in related industries to get unbiased responses. The moderator should get permission to record, assure confidentiality of responses, and avoid revealing the specific client objectives to get honest answers from participants. Projective techniques should be used to get more reliable responses, and all answers should be clarified without assumptions. Conducting focus groups can help a financial advisor understand client needs and perspectives to better market themselves.
I learned from Session 9 the correct and proper way of conducting a Focus Group Discussion (FGD) and the common errors that one should avoid. A FGD is a qualitative research structured to obtain in-depth information from a group of people about a particular topic. The book defines focus group as “a panel of people (typically made up of 6 to 10 participants), led by a trained moderator, who meet for 90 minutes to two hours. The facilitator or moderator uses group dynamics principles to focus or guide the group in an exchange of ideas, feelings, and experiences on a specific topic.” In conducting a FGD, the first step is screening the participants. We don’t want experts or family members of people connected in the industry or topic we are researching. For example, if we will be researching about shampoos, we don’t want to have employees of Colgate-Palmolive, Proctor & Gamble, or their family members in the group. Hence, it is very important to define the Operational Definition of a respondent. During the FGD, one should ask the permission of the group if the researchers can record the research through audio or video. One should stress out that there are no right or wrong answers. It should also be reiterated that the participants should not quarrel about anyone’s opinion because everyone is entitled with one’s own opinion; that they should be truthful to the question and not say what they think the researchers or co-respondents wanted to hear. Since the research is being recorded and truthful answers are being asked from the respondents, one should assure the group that information would be kept confidential. In the sample FGD in the class, the assigned group told the specific objectives of the FGD. This should not be the case. One should not reveal the objective of the client but only tell broad objectives why the group is conducting the FGD. This will prevent respondents to be honest (to tell what they think the researchers wanted to hear). One should maximize projective techniques to get more reliable and truthful answers. In research, one should never assume. One should clarify all answers. In questioning, it should be direct, precise, and concise. Below are Factors Influencing Participant Contributions in Group Interviews as per the book:
In my profession, I can do an FGD in order to know what clients are
looking for a financial advisor, what is their presumption of a financial advisor, and what is their ideal financial advisor. This will help me model myself into their ideal concept of a financial advisor and avoid the negative notions that can cost me a sale in the future.
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