Sampling

Sampling

Introduction
1. A sample is a group of consumers who are r epersentative of the population
2. A population is every single potentuial customer for a product or service
3. Sampling is a term given to how a sample is chosen
4. Important concept of primary market research
5. The sample size is the number of people in the sample
6. A sample is a group of people that is intended to repersent the overall population
7. Market research s amied at understanding a market as a whole.
Main Methods of sampling
1. Random Sample
  1. Gives each member of the population equal chance of being in the sample
  2. No bias is introduced if done correctly
  3. Expensive as a large amount of results are needed to get a repersentitive sample of the population
2. Quota Sample
  1. Invloves the population being broken up in to groups that specifc carataristics
  2. Can help research focus on a target market
  3. Takes up more time than random sampling and can generate bias
3. Stratifed Sample
  1. Used when researchers want to provide insights into a specifc market segmant
  2. Has the benifit of being random and is not expesnive
    1. Low bias
    2. Small group means that even though its random not as many tests are needed thus reduceng costs
Factos Effecting Sample size
1. Market research should be low cost or free
2. Type of Product
  1. Existing producs may have existing secondary data
  2. A new product is lesslikly to have relervent secondary data available
3. Level of risk
  1. The newer the product and the more invested the greater the risk
  2. Primary reseach can help reduce risk
Probems with primary research
1. Human Behavior
  1. When in a purching situation a consumer would behave diffrently
2. Bias
  1. The sample may not be big enugh to be repersentative of the population
3. Other forms of bias
  1. Manor in whihc question are written and behavior in interview may effect result

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	Created by Matthyis over 9 years ago