Bu442 Market Research Final Paper
BU442 Market Research Final Exam
Dr. Nolan
May 16, 2013
6. There are four specific methods for implementing survey research. They include on-site surveys, telephone surveys, computer surveys, and mail surveys. Each has pros and cons, which are listed as follows:
On-site surveys:
Pros—great for probing; best for non-vested markets; should be no more than 6 pages long; you can use physical props for demonstrations; higher general response rate at around 75%.
Cons—people may not answer sensitive information questions correctly or at all (age, income, marital status); most costly of the 4 types; labor intensive; can’t go back for a follow-up because you usually don’t ask for address or phone number.
Telephone surveys:
Pros—central location; less costly now than in the past due to lower phone rates; data is collected quickly; cost is only about 40% of on-site or mail surveys; people are anonymous so they are more likely to share sensitive information.
Cons—some investment required; not able to physically test products.
Computer-based surveys:
Pros—inexpensive way to reach a lot of people; sensitive questions are more likely to be …show more content…
When using descriptive data, everyone involved is known. With inferential data everyone is unknown, with a finite number of people to draw a conclusion about, and the purpose is to make a judgment about a population. Population parameters are what is measured, for example price, and sampling statistics describe who is measured. Frequency distributions are frequency percentages (what is) and probability (what may be), which is the long-run relative frequency with which an event will occur. It is one of the most common ways to summarize a set of data. A significance level is a critical probability associated with a statistical hypothesis test that indicates how likely it is that an inference supporting a difference between an observed value and some statistical expectation is true. It is the acceptable level of Type I
Dr. Nolan
May 16, 2013
6. There are four specific methods for implementing survey research. They include on-site surveys, telephone surveys, computer surveys, and mail surveys. Each has pros and cons, which are listed as follows:
On-site surveys:
Pros—great for probing; best for non-vested markets; should be no more than 6 pages long; you can use physical props for demonstrations; higher general response rate at around 75%.
Cons—people may not answer sensitive information questions correctly or at all (age, income, marital status); most costly of the 4 types; labor intensive; can’t go back for a follow-up because you usually don’t ask for address or phone number.
Telephone surveys:
Pros—central location; less costly now than in the past due to lower phone rates; data is collected quickly; cost is only about 40% of on-site or mail surveys; people are anonymous so they are more likely to share sensitive information.
Cons—some investment required; not able to physically test products.
Computer-based surveys:
Pros—inexpensive way to reach a lot of people; sensitive questions are more likely to be …show more content…
When using descriptive data, everyone involved is known. With inferential data everyone is unknown, with a finite number of people to draw a conclusion about, and the purpose is to make a judgment about a population. Population parameters are what is measured, for example price, and sampling statistics describe who is measured. Frequency distributions are frequency percentages (what is) and probability (what may be), which is the long-run relative frequency with which an event will occur. It is one of the most common ways to summarize a set of data. A significance level is a critical probability associated with a statistical hypothesis test that indicates how likely it is that an inference supporting a difference between an observed value and some statistical expectation is true. It is the acceptable level of Type I