MKT 324 Research Project Guidelines The purpose of this project is to review and apply the key concepts covered during the course. You will use the marketing research process to solve a marketing prob

TO: Nick Thomas, ZEN Motors CEO

FROM: Brandy Gardner

DATE: February 10, 2021

SUBJECT: Research Process

Surveys would be meaningless and incomplete without accounting for the respondents that they are aimed at. Sampling helps a lot in research. It is one of the most important factors which determines the accuracy of your research/survey result. There are two types of sampling methods:

Probability sampling and Non-probability. Probability sampling means that every member of the population has a chance of being selected, non-probability sample, individuals are selected based on non-random criteria, and not every individual has a chance of being included. I feel with the survey we created; probability sampling will be the best option for us to collect the best data. There are four main types of probability sample they are Simple random sampling, Systematic sampling, Stratified sampling, and Cluster sampling.

The two probability sample methods I would suggest using are stratified sampling, and cluster sampling. Cluster sampling is a method where the researchers divide the entire population into sections or clusters that represent a population. ("Types Of Sampling: Sampling Methods With Examples | Questionpro") Clusters are based on demographic parameters like sex, location and etc. This makes it very simple for a survey creator to collect the data feedback, without any issues. Stratified sampling involves dividing the population into subpopulations that may differ in important ways. This allows us to avoid any issues with random sampling and ensures that every category of the population well represented. I feel it is important for us to make sure we have everyone represented in the data and the results will give us a good percentage for the results. A 95% confidence interval is better because you will have a 5% chance of being wrong. A 99% confidence interval will be wider than a 95% confidence interval.

I feel if we use the probability sampling methods stratified sampling, and cluster sampling we will get the best results from our survey and allow us to collect data that will allow us to gain insights into what type of preferences people have when choosing a vehicle.

References

Burns, A. C., & Bush, R. F. (2012). Basic Marketing Research: Using Microsoft Excel Data Analysis (3rd ed.). Upper Saddle River, NJ: Prentice Hall.

Market Research Surveys: The Quick Start Guide | SurveyMonkey. (2021). Retrieved 7 February 2021, from https://www.surveymonkey.com/mp/market-research-surveys/

"Types Of Sampling: Sampling Methods With Examples | Questionpro". Questionpro, 2021,

https://www.questionpro.com/blog/types-of-sampling-for-social-research/.