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Market Research : Sampling

Market Research : Sampling. A sample means a part of a larger group If I asked all of you “ how many of you know the Capital of China ?” and 50% got the right answer – can I then say 50% of 16-19 yr old know the capital of China?. Sampling. 20 - 30 year old Females who drive

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Market Research : Sampling

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  1. Market Research : Sampling • A sample means a part of a larger group • If I asked all of you “ how many of you know the Capital of China ?” and 50% got the right answer – can I then say 50% of 16-19 yr old know the capital of China?

  2. Sampling 20 - 30 year old Females who drive (probably 200,000 + people In this group Interview or give questionnaires to everyone Sample of 1000 (representative)

  3. Sampling Methods (how to do it) • Random • Quota • Stratified • Cluster

  4. Which is the Best Method of Sampling? • Quota Sampling is the most commonly used method by market research companies because its relatively cheap (compared to Random Sampling) and is effective (works well)

  5. Quota Sampling I’ve selected these as my Quota samplebecause I know slightly more females buy my product than males 4 young Males 5 young Females

  6. Analysis of Market Research • No sample is ever going to be 100% reliable • Market researchers accept 95% reliability • This is called a 95% confidence level

  7. Evaluation of Market Research • Nearly all marketing decisions are made after doing research • Quantitative research means you don’t act on ‘hunches’ • Often qualitative data is preferred to quantitative research – because it gives you more consumer insights

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