Sample interview questions: Explain a situation where you had to deal with a limited sample size for your market research study. How did you address this limitation?
Sample answer:
Addressing Limited Sample Size in Market Research
Encountering limited sample sizes is a common challenge in market research studies. To address this limitation effectively, I employ the following strategies:
- Maximize Data Collection: Utilize various data collection methods, such as online surveys, phone interviews, and focus groups, to gather as much data as possible from the available sample.
- Stratified Sampling: Divide the target population into subgroups based on relevant characteristics (e.g., demographics, preferences) and collect data from each subgroup proportionally. This ensures representation of all key segments within the sample.
- Quota Sampling: Set quotas for specific demographics or characteristics to ensure that the sample mirrors the known population distribution.
- Statistical Modeling: Utilize statistical techniques such as bootstrapping or imputation to estimate population parameters based on the limited sample data. These methods can improve the reliability and generalizability of the findings.
- Extrapolation with Caution: Extrapolate the findings to the target population… Read full answer
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