MKTG 320 Study Guide - Final Guide: Cluster Sampling, Stratified Sampling, Nonprobability Sampling
Document Summary
Sampling is the process of obtaining information from a subset of a large group. User of research then takes the results of small group and estimates characteristics of a larger group. Sampling of a small population can result in very accurate estimates. Key to making accurate predictions= how the sample is selected. => sample must be representative of the population. Population: entire group of people about whom info is needed. One of 1st steps in sampling process is defining population of interest often involves choosing target mrkt. Census: collection of data obtained from or about every member of a pop whereas . Sample: subset of all members of population of interest. Census=> very costly $/time also may not really reach all the people!: learn the steps in developing a sampling plan. Specify characteristics of those individuals or things from whom or about whom info is needed to meet research objectives.
