Getting to know people represents many challenges for market analysts. Among the issues that attract the most attention from insiders and outsiders is clearly determining how many consumers should participate in our projects. This is because the ideal would be to be able to get to know all the individuals in a given population. Although with the advancement of the Internet and Big Data we have come closer to that scenario, it is still far away.
Having to define a sample for our quantitative and qualitative studies has many explanations. Budget and time limits are one of the most outstanding. If you are thinking about calculating the number of participants necessary for your goals then you should read this blog post. Below we list four sample categories that will help you choose between them.
Individual. Sometimes the topics we investigate are so recent or there are few related studies within reach that we must assume that we are starting from scratch. In these situations we must choose in-depth interviews that are conducted with only one interviewee. They are also recommended when we want to delve into qualitative aspects of a topic. In this category we care more about the quality of the responses than their volume.
Small. We continue with the qualitative analysis scales. If you have heard of Focus Groups then this category should sound familiar to you. People can be encouraged to share certain elements of their purchasing decisions or life experiences if they are accompanied by their peers. Here we find numbers between 2 and 12 individuals. One difficulty in working with this size is that all the members feel comfortable interacting with each other.
Medium. Here we begin to approach quantitative studies. Since, if we are faced with a homogeneous population and where all its members have the same probability of being chosen to respond, 30 subjects are the lower limit to have statistically valid data, but at the same time with the largest tolerable margin of error. The more consumers join this sample category, the closer our findings will be to reality.
Large. Beyond 400 individuals we can start talking about samples of this size. If you are looking for precision and smaller margins of error then this is your choice. This category is reserved for very ambitious studies such as segmentations or profiling and censuses. One of the possibilities of these samples is to be able to identify defined segments of people within a universe.
We recommend that before starting from a given set of resources you think more about the type of results and objectives you seek to achieve. Only then will you be able to define the money and schedule necessary for better and useful market studies. We know that this decision is complicated. To do so, you can count on the guidance of agencies and analysts who, thanks to their experience, will advise you on the design of your research.
At Acertiva we have a group of analysts and strategic allies in LATAM so that you can carry out your brand and market research in the region. With more than two decades in the sector we are prepared to base your market decisions. Contact us today. We will respond with how together we can make your next success story a reality.
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