THE PROCESS OF SAMPLING BUSINESS DATA

  What is sampling? In market research, sampling means getting opinions from a number of people, chosen from a specific group, in order to find out about the whole group. Let’s look at sampling in more detail and discuss the most popular types of sampling used in market research. It would be expensive and time-consuming to collect data from the whole population of a market. Therefore, market researchers make extensive sampling from which, through careful design and analysis, marketers can draw information about their chosen market. SAMPLE DESIGN Sample design covers: ●Method of selection ●Sample structure ●Plans for analyzing and interpreting the results. Sample designs can vary from simple to complex. They depend on the type of information required and the way the sample is selected. Sample design affects the size of the sample and the way in which analysis is carried out; in simple terms the more the precision the market researcher requires, the more complex the d...