Market research- Sampling

Question 1

What is market research?

Answer 1

This is essential in order to anticipate and identify customer needs. It allows you to identify gaps in the market, reduces risk and allows for better decision making

Question 2

What are methods of sampling?

Answer 2

Random and quota

Question 3

What is random sampling?

Answer 3

This is when a sampel of picked randomly e.g. a list of customer opinions

(customer doesn’t respond- continued calls, not removed from list)

Question 4

Random sampling benefits:

Answer 4

• No bias
• Saves time selecting participants

Question 5

random sampling costs:

Answer 5

• May not reflect target market
• May overrepresent a specific segment e.g. age
• Expensive as many calls may have to be made

Question 6

What is quota sampling?

Answer 6

This is when the reseracher chooses from a specific group of people with certain characteristics

Question 7

Quota sampling belefits:

Answer 7

• Quick and easy method as group lists are pre-made
• Can select customers to reflect the target market

Question 8

Quota sampling costs:

Answer 8

• The exact samle from each group isn’t randomised so researcher bias could be present