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 changing frequently.
  
  1. Random Sampling - Associated sample is selected for study from a population where each individual is chosen entirely by chance and has an equal chance of being neglected
  • Advantage - NOT biased because everyone has an equal chance of being chosen 
  • Disadvantage - it assumes all consumers equally important so it is less useful if the product is targeted at a specific segment of the market  

  1. Quota Sampling - the population is first segmented into subgroups before a judgement is made in selecting respondents that are representative of that subgroup
  • Advantage - the business is only asking people who it knows the product is aimed at so you are not wasting your time or money asking people who would not buy your product.
  • Disadvantage - if the business is not very clear on their target market they may not ask potential customers and as a result may not provide products or services to suit those customers needs.
  1. Stratified Sampling - the population is first segmented into subgroups before respondents are randomly selected from within that subgroup.
  • Advantage - ensures a high degree of representativeness of all the layers in the population
    Disadvantage - time consuming and tedious

Comments