Question1.

Discuss two common approaches to determining sample size and the merits or
otherwise of the approach.

To determine sample size here are two approaches:

Level of quality

This is also called the sampling error under which a true value of population is to be estimated.
This range is indicated in percentage points like media provides the result of political campaign
polls. In short, when a researcher find that 60% farmers in the sample have adopted a
recommended practice with fact rate 5%+- then it is concluded that 55% to 65% farmers are
interesting in this practice.

Using published tables:

It is a technique of to determine the sample size in which researcher rely on published tables
which provides the sample size for a given set of criteria these tables provide two things first,
sample sizes reflect the number of obtained responses and not necessarily surveys mailed and
Second, is sample size in table to presume that the facts are measured are distributed normally.
Question2. Explain probability and non-probability sampling.

Sampling means selecting a particular group to represent entire population. These sampling
methods are divided into two major categories which are as under:

1. Probability sampling
2. Non-probability sampling

In probability sampling members has fixed and known opportunities to relate to the sample, but
in non-probability sampling has no any specific probability of an individual to be a part of the
sample. If we will compare these two categories it will be clear that in probability sampling
every person of population got a fair chance of selection but in non-probability sampling did not
know who will be selected. Here are its details of both sampling:

Probability sampling: Non-probability sampling

It is known as random sampling
Here selection will be randomly
Selection chance is fair
Research will be conclusive
Results will be unbiased
Used method is objective
Interference is statistical
Hypotheses are tested
It is known as non-random sampling
Here selection will be arbitrarily
Selection chance is unknown
Research will be exploratory
Results will be biased
Used method is subjective
Interference is analytical
Hypotheses are generated

Question3. Explain why market research is beneficial for growing a business and give two
examples to illustrate your answer.

Due to globalization today business has different requirements as compare last decades. Today
development of social media made our target customer very clever. With the help of
advertisement on social media customers knows what market is offering and how we can get our
required products in most economical prices. Due to this social media and globalization every
business need to make a market research before offering new product into the market to target
customers. This market research help them to know what is target market for their offered
product and what should be prices of this product to get a successful launch in present of high
competent organizations in the same market with same products. For example if Pepsi cola is in
the market then what should do Coca-Cola to enter in the same market with same market. They
will make a research to know that what is opinion of customers about Pepsi Cola and why they
will prefer Coca-Cola as compare Pepsi. This is market research and it is important to stay in the
market in presence of high competitors. Moreover here are examples that how market research is
important to development of any business. This research help to lower the business risks with
the help of following steps:
a. Test design and product before launch
b. Identify why it is getting good or bad response
c. Get to know about problem areas

Moreover market research help to identify business opportunities in the target market with
following steps:
a. Who should be partner if needed
b. Help to identify customer’s requirements
c. Help to identify target market

Question4. Explain the following types of market research and the circumstances in which
a business may use them:

Exploratory research:
Exploratory research is a procedure to identify the issues which are not clear. This research is
conducted to get better understanding of existing issues but results of this research will not
provide conclusive results. For example if any juice bar owner want to add more verity of juices
to attract more customers but need more information to make sure increasing in customers, then
he will conduct exploratory research to know facts and then will decide about expand the
business.

Ethnography research
This research is about to examine what is interacting point of customers for offered product or
service. In this research they make direct observation and consider the techniques to identify
why customers are using our offered products and what are their needs. With the help of this
research business knows real needs of their customers and offered products as per its demand.

Causal research
Causal research is related with conclusive research, because it is conducted to know a
relationship of two variables cause and effect. Main objective of causal research is to provide a
proof that a specific relationship exists. For any type of business when they want to verify that
specific strategy will work then causal research will go on.
Question5. Discuss three advantages and disadvantages of in-depth interviews in market
research.
In-depth interviews are a method of qualitative data collection in which direct, one-on-one
engagement with individual participants. Here are its advantages and disadvantages in market
research.

Advantages of in-depth interviews

a. Interviewers can established more specific reports

b. Interviewers have great opportunity to ask follow-up questions
c. Interviewers can monitor change in tone and make choice of words
d. Interviewers can get high quality of sampling as compare to other data collection methods
e. Researchers need few participants

Dis-Advantages of in-depth interviews

a. In-depth interviews are quite time consuming

b. If interviewer will not be highly skilled all process will be effected
c. This research method may be comparatively costly
d. Participants need to choose word carefully to avoid bias