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unit 3
market research
factors influencing the accuracy of data
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Cards (5)
sample size
:
the size of the sample determines how accurately the research reflects the
overall market
a smaller sample size may be
cheaper
and easier but with fewer people surveyed, the results may not be
statistically
accurate
interviewer
and
interviewee
quality
:
the type of questions asked and the
skill
of the interviewer will determine the quality of the answers
some
respondents
may answer questions in a way they think will please the interviewer
respondents may not understand the questions and may give
false
answers
research design
:
using the wrong research
methods
can result in weak data
time:
secondary data
is often out of data; not
exactly
focused on what the business wants to know
human factor
:
while
market research
findings can prove of great benefit, the human behaviour is very
unpredictable