Marketing Research - Quantitative and Qualitative

A useful way of categorising market research is to make a distinction between research that is based on hard data, and research that is based on views and opinions. This is what we mean by quantitative & qualitative research.

QUANTITATIVE RESEARCH

What is quantitative research?

• Concerned with and based on data
• Addresses research questions such as “how many?” “how often”, “who?”, “when?” and “where?”
• Based on larger samples and is, therefore, more statistically valid
• Main methods of obtaining quantitative data are the various forms of survey – i.e. telephone, postal, face-to-face and online

Advantages of quantitative research

• Data relatively easy to analyse
• Numerical data provides insights into relevant trends
• Can be compared with data from other sources (e.g. competitors, history)

Drawbacks of quantitative research

• Focuses on data rather than explaining why things happen
• Doesn’t explain the reasons behind numerical trends
• May lack reliability if sample size and method is not valid

QUALITATIVE RESEARCH

What is qualitative research?

• Based on opinions, attitudes, beliefs and intentions
  
• Answers research questions such as “Why”? “Would? or “How?”
• Aims to understand why customers behave in a certain way or how they may respond to a new product or service
• Focus groups and interviews are common methods used to collect qualitative data

Advantages of qualitative research

• Essential for important new product development and launches
• Focused on understanding customer needs, wants, expectations = very useful insights for a business
• Can highlight issues that need addressing – e.g. why customers don’t buy
• Effective way of testing elements of the marketing mix – e.g. new branding, promotional campaigns

Drawbacks of qualitative research

• Expensive to collect and analyse – requires specialist research skills
• Based around opinions – always a risk that sample is not representative