We are now living in a fast-paced world where there is cut-throat business competition and hence success for any business can never be achieved overnight. However, there certainly exist few methodical approaches that can help you to speed up your process.
One of these techniques is conducting market research. However, your research can end with the waste of your time, if you do not conduct it very smartly. In this post, we will talk about that technique that you can also use in your own business to win the race.
There is one non-probability method of sampling that exists that is known as the quota sampling technique. Let us try to understand here what is quota sampling? In this technique, the researchers create a certain sample where a few individuals are involved who will represent the population of the survey.
These individuals will be selected based on their traits and qualities. They will create certain quotas so that your samples for market research will be useful for collecting data. All these samples can always be generalized within the total population.
Let’s take an example of a cigarette company. Suppose this company is interested to find out among the population, which age groups of people prefer a certain brand of cigarette in a certain city? The age group may be divided into the following groups:
- Ages between 21 to 30
- Ages between 31 to 40
- Ages between 41 to 50
- Ages 51 and above.
By making these groups the researchers will be able to find what is the trend of smoking in a certain city based on the ages of the people.
How can you perform quota sampling?
In probability sampling techniques, there are several rules that any researcher has to follow to create the right kind of samples. However, since this quota sampling is a certain non-probability sampling technique, hence there will be no rules to formally create samples. Normally, there will be 4 steps to be formed for a quota sample.
- Divide your sample population into few subgroups
Here the researcher will bi-furcate the entire population into a few mutually exhaustive subgroups, which means the components of each of these subgroups will become a part of only a single subgroup out of them. Here, the researcher will apply random choice.
2. Figure out each subgroup’s weightage
Then the researcher will evaluate the percentage in which the data of subgroups exist within the population. He will maintain this proportion in the selected sample by using this sampling method.
As an example, if 58 percent of people are interested in buying your Bluetooth headphones are within the age group between 25 and 35 years, then your subgroups should also have the same percentage of people within the corresponding age groups.
3. Select an appropriate size of the sample
Now in the next step, the researcher must choose the sample size by maintaining the proportion that is evaluated in the above step. In case the size of the population is 500, the researcher then can choose a sample of fifty elements.
4.Conduct surveys as per the quotas defined
You must ensure that you stick to your predefined quotas for achieving actual actionable results.