Sampling




Sampling - large and small samples. Trade-off between accuracy and cost

Exhibit 34.1   Sample size is a commercial decision that weighs the costs of a larger sample against the benefits of greater accuracy.

 “In God we trust. All others must bring data.” — W. Edwards Deming.

 

A sample is a subset of the universe that is used for making conclusions or inferences about the universe. It reduces the time, effort, and cost in estimating parameters of interest to marketers such as brand awareness, penetration, brand equity, market share, sales or distribution.

This chapter reviews the different sampling methods, and the statistics of computing sample sizes for retail tracking and quantitative research studies. It covers the sampling standards commonly used by research firms. It also explains sampling and non-sample errors, and their impact on data accuracy.

Next

Use the Search Bar to find content on MarketingMind.







Marketing Analytics Workshop

Marketing Analytics Workshop

In an analytics-driven business environment, this analytics-centred consumer marketing workshop is tailored to the needs of consumer analysts, marketing researchers, brand managers, category managers and seasoned marketing and retailing professionals.


What they SHOULD TEACH at Business Schools

What they SHOULD TEACH at Business Schools


Is marketing education fluffy too?


Experiential Learning via Simulators | Best Way to Train Marketers

Experiential Learning via Simulators | Best Way to Train Marketers


Marketing simulators impart much needed combat experiences, equipping practitioners with the skills to succeed in the consumer market battleground. They combine theory with practice, linking the classroom with the consumer marketplace.