A food chain company based in Florida wants to expand in Georgia. You, as a part of the marketing team, are required to find the popularity of fast food among the younger generation. What method is best suited for such a survey? Draw the sample using the random number table and bring out the rationale of the procedure.
Hello, I can help you here as I used to be a market researcher.
Lets look at the info. The food chain currently exists in Florida and wants to move to Georgia. Specifically, you want to test the popularity of the food with younger individuals.
When testing a product in a new market, it would be best to start off by understanding the preferences of people in this sample.
By doing some research, we see that there are 9,363,941 people in Georgia in 2006. Of these, 20% are between the age of 5-18, and 57% are ages 19-65.
ages 5-18: 20% of 9,363,941 is 1,872,788 people.
aged 19-65: 57% of 9,363,941 is 5,337,556 people.
That means that our overall population is over 7 million people.
When conducting research, it is virtually impossible to poll all of the people in our sample for several reasons:
So therefore, researchers decide to randomly select individuals from the general population to be part of the sample.
Normally, we want our sample to be representative of the population - we want to be able to assume that the results we get from our sample would mirror our population.
Therefore, we really have to make sure that we randomly pull individuals from the population to be part of our sample. What happens if we do not have a random sample?
I will use ...
Detailed marketing plan outlined and the process taken to create it explained.