Market Research: Why a Huge Sample Can Still Lie
From defining the problem to sampling, survey wording, experiments and charts, how researchers find the truth and how they get fooled.
Try 3 questions
1. Which step of the research process do experts say is most often rushed, with costly results?
- Writing up the final report
- Defining the research problem
- Analyzing the collected data
Show the answer
Answer: Defining the research problem
A precisely answered wrong question is useless; time spent clarifying what the decision really needs saves money in every later step.
2. A firm wants to know whether a price cut actually caused a rise in sales. Which type of research does it need?
- Causal research
- Desk research
- Survey research
Show the answer
Answer: Causal research
Only causal designs, usually experiments, can separate the effect of the price cut from other things that changed at the same time.
3. When is market research not worth doing, even if the firm can easily afford it?
- When competitors also do research
- When no result would change the decision
- When the target market is very large
Show the answer
Answer: When no result would change the decision
Information has value only if it can change what you do; if the decision is already fixed, research cost buys nothing.
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