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

Interview or give questionnaires to everyone

20 - 30 year oldFemales who drive(probably 200,000 + people In this group

Sample of 1000 (representative)

Sampling Methods (how to do it)

• Random

• Quota

• Stratified

• Cluster

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)

Quota Sampling

4 young Males

5 young Females

I’ve selected these as my

Quota sample because I know slightly more females buy my product than males

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

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