What happens if we are wrong? It is a critical question in risk assessment. A wrong decision has implications, sometimes small and inconsequential, sometimes large and disastrous. A wise decision maker always considers the implications of making the wrong choice and factors that into the final decision.
Read MoreReconsidering the Value of Small Samples in Marketing Research
Do you remember the famous line from Animal Farm, “Two legs bad, four legs good”? I suspect that we quantitative researchers have a similar one that goes “small samples bad, big samples good.” Small samples make us nervous. We can’t believe they are representative or that they can capture the diversity of a large population. […]
Read MoreCan Qualitative Research Be Used to Detect Segments?
Many factors determine sample size for qualitative research. They usually include practical considerations such as size of budget, number of unique groups being interviewed and in the case of in-person, the number of cities in which interviews are being conducted. They may also include subjective “comfort” factors such as what has been done in the […]
Read MoreTelling Suppliers Your Project Budget
There seems to be an unwritten rule that says you should never share your project budget with a market research supplier. It probably derives from a concern that letting suppliers know your budget is an invitation for them to take advantage of you. You will end up with three bids all on or near your […]
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