chapter 52 Flashcards
when the market research plan is in place consideration needs to be given to some sampling techniques what are the types ?
there’s 2 types of sampling (probability and non probability sampling)
why is probability or random sampling good
it gives all members of the population a chance for inclusion and there are 4 types of random sampling methods
what is simple random sampling
this is where individuals are randomly selected from a list of the population and they each have a equal chance of selection
what is systematic sampling
it’s a frequently used variant of simple random sampling. it’s where every nth element is selected from a list from a random selected start point. e.g. if there’s listed a population 6000 members and wish to draw a sample of 200 it would select every 30th as 6000 divided by 200
what is quota sampling
it is a non random form of sampling involving splitting the population in to sub groups according to their distribution of the population. such as if 52% of a population is male and 48% is female the samples questioned will be in this proportion.
what is convenience sampling
this involves using those people who come to hand easily to be questioned
what is cluster/multi stage sampling
it is a practical and frequently used random sampling method. it is useful in situations where no list of elements is available within a population so therefore it can’t be selected directly
what is stratified sampling
it is a variant on simple, random and systematic methods and is used when there’s a number of distinct subgroups. it’s constructed by classifying the population in to sub populations e.g. age, gender
what are the 2 types of stratified sampling
proportionate- this is where the stratified sample sizes are in proportion to the stratified population size
disproportionate- the stratified are not sampled according to the population sizes
what are non sampling erros
this is where a person may give what he or she wants to be said, it’s more political and socially correct rather than honest.
what is sampling errors
it is the difference between the mean value of the sample and the actual or true mean value of the population
what is standard deviation
this is a measure of how spread out your data is compared to the mean and it can access whether the result is in line, more than or less than average the mean.
the closer the result are to the mean the narrower the spread of data is.
to work out standard deviation you work out the mean of a gorup of numbers then to find out how far each value deviates from the mean each number gets compared to the mean, if it’s less it will be a minus number and if it’s more it will be a positive number and then the next step is to square the numbers. these square numbers are then added together and then divided by how many there is which equals the variance and then you work out the square root of it which equals the standard deviation
What is scatter graphs
This is where the relationship is plotted between 2 variables to see if they have any correlation
Types of market segmentation
Age
Geography
Gender
Social class
what does ACORN stand for and what is it
a classification of residential neighbourhoods which allows businesses to target people living in a particular type of accommodation- it measures residence
