Marketing Research Basics
This is the main purpose of conducting marketing research.
To make informed business decisions.
When researchers only survey people who are easy to reach, such as shoppers at a mall, they are using this type of sampling.
Convenience Sampling
A systematic error that makes survey results inaccurate
Statistical bias
Tables, charts and graphs will help companies interpret analyzed data.
Interpretation of Data
The sampling method where each section is equally likely
Random sample
This type of data is collected firsthand through surveys, interviews, or experiments.
Primary Data
This type of sampling ensures that every person in the population has an equal chance of being selected.
Random Sampling
Too small results may not be reliable. Too great and the survey may be too difficult to administer.
Findings are summarized for the use of the marketing personnel
A selection from the population is taken based on availability and/or accessibility.
Convenience Sample
This type of data is gathered from existing sources like reports, government data, or online databases.
Secondary Data
This research method brings together a small group of people to discuss a product, service, or topic.
What is a focus group?
Occurs when specific groups are under-represented in a sample due to low rates of participation
Non-response bias
A research team will take a marketing objective and turn it into a specific and measurable research task
Statement of the Research Task
People opt to take part in a study
This research method involves asking the same set of questions to a group of respondents in person, over the phone, or online.
A survey
This type of research involves numerical data and statistical analysis.
Quantitative Research
Occurs when the measurement technique has errors which cause unreliable results.
Measurement bias
Includes primary and secondary sources of data, where, when, and by whom data was gathered, details on the survey sample
Review of Data Collection Methods
The population is divided into groups, then a random sample is taken of each group. The number sampled from each group is proportional to the size of the group.
Stratified Sample
This type of research focuses on understanding opinions, motivations, and behaviors rather than numerical data.
Qualitative research
What are the four types of survey methods?
Internet, mail, phone, personal interview
These restrict people’s choices unnecessarily or use words that could influence people to answer in a certain way
Biased questions
After data is collected it is collated (grouping together common factors)
Analysis of the Data
The population is divided into groups. A random number of groups is chosen. (It could be just one group), then all members of the chosen group(s) are surveyed
Cluster sample