Use of Statistics in Market Research

Use of Statistics in Market Research II Bach

ENTREPRENEURSHIP AND MANAGEMENT 2ND BGU – Poster by Gisela Chavez

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ENTREPRENEURSHIP AND MANAGEMENT 2ND BGU – Poster by Gisela Chavez

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Open Ended

Answer

What was the key to success in this venture?

Open Ended

What does El Salinerito teach other communities in Ecuador?

Open Ended

What do you need to do to achieve your goal?

Descriptive Statistics 

In the data analysis process Descriptive Statistics is important because it consists of the presentation of numerical data using tables, columns, lines, pastels, etc

Descriptive Statistics

• is done with the help of technological tools, such as spreadsheets.

• Market research relies heavily on statistical techniques to bring more insights into the expected deliverables and outputs.

• In the context of market research, the samples from a population of consumers establish what they think of particular products and services or identify purchasing behavior to predict future preferences or buying habits.

• The information gathered in these surveys can then draw inferences about the broader population with a certain level of statistical confidence that the results are accurate.

There are 3 main types of descriptive statistics:

• The distribution concerns the frequency of each value.

• The central tendency concerns the averages of the values.

• The non-central tendency concerns how spread out the values are.

Multiple Select

Check the three types of descriptive statistics

• distribution

• samples

• central tendency

• non-central tendency

ENTREPRENEURSHIP AND MANAGEMENT 2ND BGU – Poster by Gisela Chavez

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