- Margin of Error
The Margin of Error is the range that we would expect to see in the larger population, given a particular response in the sample. For example, if we see a response of 50% in the sample, and have calculated a margin of error of +/- 3% (based on size of the sample and variability in individual responses), that means that we expect the “true answer” for the larger population to be somewhere between 47% and 53%.
- Market Development Strategy
A market development strategy is a growth strategy where a business seeks to enter new markets with its existing products or services. The goal is to expand the customer base by targeting segments or geographic areas the company hasn’t served before.
