Adapting Market Research Tools to Diverse Environments: Lessons from Europe

This note documents the lessons of several member organizations of the Microfinance Center for Central and Eastern Europe and the New Independent States (MFC) and selected microfinance institutions (MFIs) in the region that have successfully applied the MicroSave toolkit, along with other tools.

The paper observes that MicroSave's Market Research for Micro Finance toolkit has proved effective in improving the quality of market-driven financial services.

Further, the paper lists the lessons learnt from application of the MicroSave toolkit in Europe:

• Prioritize the list of problems and opportunities;
• Think creatively to adapt tools to cultural sensitivities;
• Use a mix of research techniques to accompany the tools;
• Use market research tools internally to train staff and to avoid bias;
• Incorporate market research tools in internal systems for ongoing research.

The paper recommends the following points before applying MicroSave's toolkit:

• Focus on MicroSave's approach to market research and consider appropriateness of the tool to the local context;
• Discuss local cultural differences and improve moderation techniques;
• Run any market research tool with staff first to ensure buy-in and to promote better understanding;
• Be flexible and open to modifying techniques and/or selecting other tools;
• Use incentives to get good attendance and participation.

Finally, the paper indicates that MicroSave research tools should be adapted to institutional needs in the specific country context, and that other techniques may also be used.