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Summary IB Business & Management - Revision Poster - 4.4.2 Market Research

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A detailed revision poster which provides a summary of the IB Business & Management subtopic 4.4.2 Market Research. The document is in a PDF format and the text is unhighlighted to allow for personalisation according to your own colour scheme for your subjects. The use of this revision poster, in addition to my complete set of revision posters for the IB Business & Management syllabus enabled me to achieve a final grade of HL7 (A*).

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Subido en
10 de septiembre de 2022
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Escrito en
2021/2022
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4.4.2 Market Research


Ethical Considerations: • Quantitative
• structured data
• Leading questions • statistical analysis
• there should be no attempt to influence the respondents • objective conclusions
opinion • surveys and experiments
• Voluntary involvement • small amount of information from a large number of
• respondents should know that they are taking part in respondents
research • Qualitative
• Vulnerable groups • unstructured data
• researchers should be careful when conducting research • subjective conclusions
with vulnerable groups, such as children or those tho are • interviews, focus groups and observations
mentally ill • large amount of information from a smaller sample size
• Purpose of use
• information obtained should only be used for its stated
purpose
• Reporting the results
• results of market research must be reported accurately Possible
Method Example Uses

Methods of Sampling:

Bar graph To compare.
• sample - a sample is a sub-group within a population that can be
used to conduct research on, rather than researching the entire
population
• generalisability - a measure of how well research results represent
the overall population
• Methods
• Convenience
• least representative form of sampling
Histogram To display
• sample is made up of whatever people are willing to partake in
the research frequency.
• simple to carry out
• little generalisability
• unless a very large sample size is used, convenience sample is of
limited use
• very fast, little planning needed
• Random
Line To show
• everyone in the population has the same chance of being
selected to take part in the research graph changes over
• can work well if many people of the population have the same time.
view
• relatively simple
• no guarantee that the sample will be representative
• Systematic
• process of selecting every nth person from the entire list, could
improve the randomising Pictogram To display
• Cluster frequency.
• researchers break up their population into different geographic
clusters
• each cluster is visited and it is attempted to talk to the people
within that area
• data can be gathered quickly
• no guarantee that the people in the cluster represent the entire
cluster Pie chart To show
• Snowballing percentages.
• chain referral sampling
• involves people with specialised knowledge or skills
• at the end of the interview with the first respondent, they
interviewer will ask the interviewee to recommend another person
they should speak to, in order to gain further insight
• can be useful in niche markets
Scatter To show
• does leave the research open to the respondents’ personal
biases which can reduce generalisability plot correlation.
• Stratified
• break up the population into smaller groups
• people asked within the strata would be selected using random
sampling
• results are most reliable from this form of sampling
• more time consuming than quota sampling
Table To display all
• Quota
• break up the population into smaller groups data
• people asked within the strata would be selected using collected.
convenience sampling
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