Sampling in marketing Research
Sampling - gathering of data from a set of respondents, the results of which should be representative of the population (e.g. target market) as a whole. Sampling is widely used in marketing research and it can provide statistically valid insights into the profile of the overall population (e.g market) being analysed The aims of sampling is to avoid bias and to sample in a cost effective manner; minimum error for a given cost. The main benefits and potential drawbacks of sampling are summarised as the following: Benefits • Even a relatively small sample (if representative) can provide useful research insights. • Using sampling before making marketing decisions can reduce risks and costs. • Sampling is flexible and relatively quick. Drawbacks • Biggest risk = sample is unrepresentative of population - leading to incorrect conclusions. • Risk of bias in research questions. • Less useful in market segments where customer tastes and preferences are changi...