New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    A company is conducting a market research study to

    analyze customer preferences for a new product. They start by collecting a large set of potential respondents , filter them based on relevant demographic criteria , and further refine the sample by considering purchasing behavior . Finally, they select a representative subset of customers for in-depth analysis. This process is an example of:
    A Random Sampling Correct Answer Incorrect Answer
    B Stratified Sampling Correct Answer Incorrect Answer
    C Sampling Funnel Approach Correct Answer Incorrect Answer
    D Cluster Sampling Correct Answer Incorrect Answer
    E Systematic Sampling Correct Answer Incorrect Answer

    Solution

    Explanation - The Sampling Funnel Approach is a structured method used to refine large datasets into meaningful, representative samples by filtering data through progressive stages . This technique is commonly applied in data analytics, marketing research, and predictive modeling to improve the quality and relevance of sampled data.   In the given question, the company initially collects a broad pool of respondents but does not use them all. Instead, they apply multiple filtering stages based on demographics, purchasing behavior , and other relevant attributes to narrow down the dataset. This step-by-step elimination process , where irrelevant or non-representative samples are removed in layers, perfectly aligns with the sampling funnel methodology .  

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