Sampling and Marketing Research
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FlashcardsWhat is sampling?
The process of creating a small unbiased population to be used in a test or experiment
What is sampling in market research?
Sampling involves gathering data from a sample of respondents, the results of which should be representative of the population (e.g. target market) as a whole
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4 Terms
What is sampling?
The process of creating a small unbiased population to be used in a test or experiment
What is sampling in market research?
Sampling involves gathering data from a sample of respondents, the results of which should be representative of the population (e.g. target market) as a whole
What are the benefits of sampling in market research?
Even a relatively small sample size (if representative) can provide useful research insights
Using sampling before making marketing decisions can reduce risk and costs
Sampling is flexible and relatively quick
What are the drawbacks of sampling in market research?
The biggest risk = the sample is unrepresentative of the population- leading to incorrect conclusions
Risk of bias in research questions
It is less useful in market segments where customer tastes and preferences are changing frequently
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