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Market - Research Paper Example

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Researchers should focus on defining the population encompassed in a particular sample and identify the sample group. Therefore, there will be ease…
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Market research
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The theorist implied that obtaining research from the entire population would be considerably expensive and injurious to a firm’s operations (Wiid and Diggines, 2009:56). His emphases were that a proper survey and random sampling of the population would present relevant data that would adequately provide information about the population. The following script argues out on the various concepts related to market research.
Sampling is a crucial process of accruing relevant data from the target population. As a researcher, sampling denotes the best approach to a study with the provision of different sampling methods for research. The methods range from probability and non-probability sampling, stratified sampling, quota and area sampling, and cluster sampling. The following are the benefits of a good sampling method.
Researchers engage on marketing research to identify the factors and solutions to a business problem. This process requires an effective and efficient approach as delays may pose negative impacts to a company’s production, processing, and delivering of satisfaction to the final consumer (Czinkota and Ronkainen, 2007:38). Therefore, time is a beneficial tool in relation to the issue of marketing research, and to the establishment of viable factors for business progression and success (Wiid and Diggines, 2009:57). As a marketing researcher, the appropriate sampling method should be time effective and precise on obtaining the amount of data required. The essence is that a sample method determines the longevity of obtaining data for use in forecasting different prospects of the business. Whenever a sampling method takes a long time, businesses may fail external forces that may threaten to halt operations. For instance, the global market is competitive and a time-consuming sampling plan may draw the attention of rival competitors.
Research is a necessary tool in amassing information relevant in establishing the long range ... Read More
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