3.3.2 Understanding Markegs And Customers Flashcards
What is sampling
Sampling involves the gathering of data from a sample of respondents, the results of which should be representative of the population as a whole
What is random sampling
Makes sure that every member of the population has an equal chance of selection. Random sampling does not target any specific market segment
What are the advantages of random sampling
Unbiased
Simple to design
What are the disadvantages of random sampling
May not be representative of whole population
Time consuming
Stratified sampling
Divide population into subgroups (strata) based on the relevant characteristics.
Based on the overall proportions of the population, you calculate how many people should be sampled from each subgroup. Then use random sampling to select a sample from each subgroup
What are the advantages of stratified
Represents all groups
Reduce error
What are the disadvantages of stratified sampling
Time consuming
Cannot represent all differences
What is quota sampling
Aim to obtain a sample of representative of the overall population
Researcher then chooses the sample from this until the quota is reached
What are the advantages of quota sampling
Representative of population
Simple and quick to select sample
Cheaper then other methods
What are the disadvantages of quota sampling
Not random so risk of bias
What is quantitative research definition
Based on opinions, attitudes, beliefs and intentions
Answers questions such as “why “how” “would”
What are examples of qualitative research examples
Focus groups and interviews
What are the advantages of undertaking qualitative research
Focused on understanding customer needs
Essential for new product development
Can highlight issues that need addressing
