Business Management HL
Business Management HL
6
Chapters
223
Notes
Unit 1 - Introduction To Business Management - QB
Unit 1 - Introduction To Business Management - QB
Unit 2 - Human Resource Management - QB
Unit 2 - Human Resource Management - QB
Unit 3 - Finance & accounts - QB
Unit 3 - Finance & accounts - QB
Unit 4 - Marketing - QB
Unit 4 - Marketing - QB
Unit 5 - Operations management - QB
Unit 5 - Operations management - QB
Unit 6 - Assessment
Unit 6 - Assessment
IB Resources
Unit 4 - Marketing - QB
Business Management HL
Business Management HL

Unit 4 - Marketing - QB

Unlock The Power Of Sampling Methods In Market Research

Word Count Emoji
626 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onΒ 5th Nov 2024

Table of content

What's sampling all about? 🌎

Imagine you're at a bakery filled with hundreds of delicious cookies. You can't eat them all (though we wish we could!), so you pick a few to taste-test. In the same way, businesses can't survey everyone, so they pick a 'sample' to get an idea. Here's how it's done!

Quota sampling πŸͺ

πŸ“œ Definition: Breaking down the population into groups with specific characteristics (like chocolate chip or oatmeal raisin) and setting a target for each group.

🌟 Example: In a school of 500 IB students, let's interview 15 boys and 20 girls to know their thoughts on the programme.

Pros

  • Can get diverse views from different groups.
  • Ensures specific segments are included.

Cons

  • Might not be wholly random.
  • Setting the wrong quotas can skew results.

πŸͺ Random sampling

πŸ“œ Definition: Everyone gets an equal shot! Like putting all names in a hat and pulling some out.

🌟 Example: Picking 50 names from a phone book of 1,000 people. Like when you randomly get picked for a lucky draw!

Pros

  • It’s fair and unbiased.
  • Represent the population well if the sample size is large enough.

Cons

  • May miss out on some specific groups.
  • Needs access to the entire population list.

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Dive deeper and gain exclusive access to premium files of Business Management HL. Subscribe now and get closer to that 45 🌟

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IB Resources
Unit 4 - Marketing - QB
Business Management HL
Business Management HL

Unit 4 - Marketing - QB

Unlock The Power Of Sampling Methods In Market Research

Word Count Emoji
626 words
Reading Time Emoji
4 mins read
Updated at Emoji
Last edited onΒ 5th Nov 2024

Table of content

What's sampling all about? 🌎

Imagine you're at a bakery filled with hundreds of delicious cookies. You can't eat them all (though we wish we could!), so you pick a few to taste-test. In the same way, businesses can't survey everyone, so they pick a 'sample' to get an idea. Here's how it's done!

Quota sampling πŸͺ

πŸ“œ Definition: Breaking down the population into groups with specific characteristics (like chocolate chip or oatmeal raisin) and setting a target for each group.

🌟 Example: In a school of 500 IB students, let's interview 15 boys and 20 girls to know their thoughts on the programme.

Pros

  • Can get diverse views from different groups.
  • Ensures specific segments are included.

Cons

  • Might not be wholly random.
  • Setting the wrong quotas can skew results.

πŸͺ Random sampling

πŸ“œ Definition: Everyone gets an equal shot! Like putting all names in a hat and pulling some out.

🌟 Example: Picking 50 names from a phone book of 1,000 people. Like when you randomly get picked for a lucky draw!

Pros

  • It’s fair and unbiased.
  • Represent the population well if the sample size is large enough.

Cons

  • May miss out on some specific groups.
  • Needs access to the entire population list.

Unlock the Full Content! File Is Locked Emoji

Dive deeper and gain exclusive access to premium files of Business Management HL. Subscribe now and get closer to that 45 🌟

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