By James M. Livingstone (auth.)
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Additional info for A Management Guide to Market Research
Sampling, if it is to meet the rigours of statistical precision, requires a high degree of precision in setting up the process and expertise on the part of the statistician. But, in practice, the level of accuracy required for most managerial decision-taking is less than that looked for in statistical experiments under laboratory conditions. Because some imprecision can be tolerated, a certain degree of rough and ready methodology can be accepted by the sort of market researcher who is likely to use this book, methodology which, however, might dismay the purist.
The executive who proposes to carry out market research on behalf of his company for the first time faces a number of pitfalls, particularly in respect of primary sources. These include: ( 1) The danger of assuming that the respondents from whom he is seeking information are as interested in the project as is his own company. Members of the general public in giving answers may be helpful but are not always too accurate. Industrial enquiries are liable to be regarded with suspicion, and executives are liable to be more irritated at the loss of their time than flattered about being asked.
3) Competing firms' material are another obvious and cheap source of information - advertising, brochures even annual reports. It is probably standard practice to buy-in rival products for rigorous inspection, but engineers, accountants and marketing men can learn a good deal simply from examining publications put out by rivals. (4) Not least, there are official sources, which can be subdivided into two groups. The most important are those produced by government departments, state organisations, local government and similar public authorities.
A Management Guide to Market Research by James M. Livingstone (auth.)