Topic4 - Sampling in Marketing Research 1 Basics of...

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1 Sampling in Marketing Research Sampling in Marketing Research
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2 Basics of sampling I Basics of sampling I A sample is a “part of a whole to show what the rest is like”. Sampling helps to determine the corresponding value of the population and plays a vital role in marketing research. Samples offer many benefits: Save costs : Less expensive to study the sample than the population. Save time : Less time needed to study the sample than the population . Accuracy : Since sampling is done with care and studies are conducted by skilled and qualified interviewers, the results are expected to be accurate. Destructive nature of elements : For some elements, sampling is the way to test, since tests destroy the element itself.
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3 Basics of sampling II Basics of sampling II Limitations of Sampling Demands more rigid control in undertaking sample operation. Minority and smallness in number of sub-groups often render study to be suspected. Accuracy level may be affected when data is subjected to weighing. Sample results are good approximations at best. Sampling Process Defining the population Developing a sampling Frame Determining Sample Size Specifying Sample Method SELECTING THE SAMPLE
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4 Sampling: Step 1 Defining the Universe Universe or population is the whole mass under study. How to define a universe: » What constitutes the units of analysis (HDB apartments)? » What are the sampling units (HDB apartments occupied in the last three months)? » What is the specific designation of the units to be covered (HDB in town area)? » What time period does the data refer to (December 31, 1995) Sampling: Step 2 Establishing the Sampling Frame A sample frame is the list of all elements in the population (such as telephone directories, electoral registers, club membership etc.) from which the samples are drawn. A sample frame which does not fully represent an intended population will result in frame error and affect the degree of reliability of sample result .
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5 Step - 3 Step - 3 Determination of Sample Size Determination of Sample Size Sample size may be determined by using: » Subjective methods ( less sophisticated methods ) The rule of thumb approach: eg. 5% of population Conventional approach: eg. Average of sample sizes of similar other studies; Cost basis approach: The number that can be studied with the available funds; » Statistical formulae ( more sophisticated methods ) Confidence interval approach.
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6 Conventional approach of Sample size determination using Sample sizes used in different marketing research studies TYPE OF STUDY MINIMUM SIZE TYPICAL RANGE Identifying a problem (e.g.market segmentation) 500 1000-2500 Problem-solving (e.g., promotion) 200 300-500 Product tests 200 300-500 Advertising (TV, Radio, or print Media per commercial or ad tested) 150 200-300 Test marketing 200 300-500 Test market audits 10 stores/outlets 10-20 stores/outlets Focus groups 2 groups 4-12 groups
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Topic4 - Sampling in Marketing Research 1 Basics of...

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