Flashcards in Marketing- Sampling Deck (5)
What are the 3 decisions to be taken when planning a sample to research?
Who is to be surveyed? (This is the population to be targeted in the research, then when this is established a sampling frame is developed to make sure everyone in the population can be included)
How many people/ companies should be surveyed?
(The larger the sample the more accurate it will be, however it will also be more expensive)
How will people be selected for the survey? (There are 2 main methods, random sampling and quota sampling)
What is random sampling?
It involves producing a random list of individuals to survey. Those picked could be generated randomly using a computer and the electoral register
Advantages of random sampling?
There is no chance of bias being introduced when selecting individuals for the sample
It is simple to draw up the sample
Disadvantages of random sampling?
It may not be focused on any particular market segment
It assumes that all members of the group are the same which is not always the case
It is an expensive method to administer and run