ECONOMICS PROJECT
HOW ADVERTISEMENTS INFLUENCE CONSUMERS' DECISIONS
ANAY JAIN XI-J
Roll No. 29
INTRODUCTION TO THE STUDY
OBJECTIVES
This survey has been conducted to find out:
How advertisements affect people’s choices when buying
products or services.
Which parts of an ad (like design, message, or offers) catch
people’s attention the most.
How advertisements build brand awareness and shape long-term
consumer preferences.
Hypothesis:
A rational consumer is more likely to buy a good or a
service after seeing ads on social media or video
platforms like YouTube and Instagram than after seeing
ads in newspapers or on billboards.
TYPE OF SURVEY CONDUCTED
This survey has been conducted on a group of 101 individuals. As it
has been conducted on a group of individuals who represent a part of
the whole population, it can be called a sample survey.
Sample surveys are conducted by selecting units from a population
and recording information or data on the units. The units comprise the
population and can be individuals, households, businesses, students,
schools, or any other element that can be meaningfully thought of as
defining a population to be studied.
Sample surveys most often involve a questionnaire used to measure
the characteristics or attitudes of people.
A properly conducted sample survey will support inferences from the
sample that are scientifically valid about the population. Conclusions
derived from the small sample are generalized for the whole
population.
The sampling method is comparatively easy to organize and
supervise. The sampling method is new and practicable. Therefore,
the sampling method was used for the survey in this project.
MERITS OF THE SAMPLING METHOD
It is more economical than the census method, as the task of
collection and analysis of data is limited only to a small sample,
i.e., a few units of the population.
In this method, only a few units are analyzed, hence we get
quicker results.
Collecting data in a sample survey is less time-consuming and
data is easy to handle.
The sampling method is a scientific method as it is possible to
determine the extent of reliability of its results.
DEMERITS OF THE SAMPLING METHOD
The conclusions of the sampling method are based only
on the results of a few items taken from the whole
population. Thus, these may not be cent percent correct.
A sample may not have all the characteristics of the
population.
There were a lesser number of responses due to which
the form had to be distributed through multiple social
media platforms to secure a larger number of
respondents.
Sometimes there may be errors made by the researcher.
Such errors are called sampling and non-sampling errors.
It includes:
a. Sampling Error - It refers to the differences between
the sample estimate and the corresponding
population parameter.
b. Sampling Bias - The investigator is biased, he/she
might select a sample deliberately to get the wanted
results.
c. Non-response Errors - Occurs if a person from the
selected sample or a person from the sample refuses
to respond.
d. Errors in Data Acquisition - This arises recording of
incorrect responses. These could happen due to the
carelessness of the person recording the information
or when transcribing the data.
METHOD OF DATA COLLECTION
This sample survey has been conducted with the help of
random sampling.
Random sampling is when individual units from the
population are selected at random to make assumptions about
the whole population based on the results derived from the
sample population.
Every person has an equal chance of getting selected. This is
also called the lottery method or probability sampling.
It helps to reduce the bias involved in the sample, compared to
other methods of sampling and it is considered as a fair
method of sampling.
This method does not require any technical knowledge, as it is
a fundamental method of collecting the data.
As the population size is large in the simple random sampling
method, researchers can create the sample size that they want.
TOOLS OF DATA COLLECTION
The tool that was used for data collection was an online form.
The merit of an online questionnaire is that it does not involve
the usage of money and it helps gain access to a large number
of people in less time.
The demerit of an online questionnaire is that it has the
possibility that the respondent may misunderstand the
question and give either incomplete or wrong answers. If such
questionnaires contain open-ended questions, then handling
data can become very difficult.
STAGES WHILE HANDLING STATISTICAL DATA
STAGE I: COLLECTION OF DATA
It is the first step in a statistical inquiry. There are two
ways of collecting data: primary and secondary. Primary
data has been collected in this survey.
STAGE II: ORGANISATION OF DATA
The next step after collection of data is to organize this
data properly. Organizing involves classification,
grouping, and editing.
Here, the sample population has been grouped into broad
age ranges such as 13–18, 19–25, 26–40, 41–60, and
Above 60
The responses of each surveyor have been recorded and
organized in an Excel sheet.
STAGE III: PRESENTATION OF DATA
Once the collected data is organized, it is presented
virtually to make statistical analysis clear and easier.
Data can be presented through tables, diagrams, graphs,
or pictures.
Different types of tables and graphs have been used to
present the data collected in this project.
STAGE IV: ANALYSIS OF DATA
After presentation, data is analysed mainly using
correlation and percentage distribution to identify
patterns and test the hypothesis.
STAGE V: INTERPRETATION OF DATA
It is the final stage of statistical study. In this stage, data
is used to derive some conclusions to make decisions.
The conclusions for this survey have been made after the
results of the hypothesis (whether it is true or not).
PRESENTATION OF THE DATA
COLLECTED
