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Qualitative and Quantitative Market Research
Transcript of Qualitative and Quantitative Market Research
Market research is the systematic, objective collection and analysis of data about a particular target market, competition, and/or environment.
Increased understanding of the subject matter
Quantitative research aims to collect data which can be represented numerically and analysed statistically.
seeks the facts or causes of social phenomena without advocating subjective interpretation
Qualitative Research aims to obtain rich, deep, detailed information through techniques such as interviews and focus groups.
focuses on the attitudes and emotions which underlie the behaviours identified by quantitative research outcomes. It helps to understand customer needs, evaluate potential product innovation and test promotional campaigns.
Highly recognised global corporation which extensively utilises market research, especially for the purpose of product design.
Most notable use of quantitative research is their collection of postcodes at point of sale, which determines locations for future stores, e.g. the Tempe store is strategically situated to take advantage of the city's eastern suburbs/south.
Has used qualitative research to design products that particularly cater for Australian households. This was achieved by researchers using observational/ethnographical research to observe consumers in their natural environment, as seen in the following clip, where Ikea attempts to challenge the perception their products aren't suited to Australian households and lifestyle.
Ikea has also had to confront the perception it is no longer an innovative leader in the furniture market, which has been dominated by a trend of low cost 'flat pack' products.
qualitative research techniques such as focus groups and interviews helped IKEA highly integrate advertising with their products, including short lead times on inventories, with new products being available a day after being advertised in the 365 campaign.
quantitative research would fail to recognise this, since their rigid structure of questions limits their capacity to explore perceptions and values of brand.
Methods bias in marketing research
arises from incorrect usage of natural science methods, or the wrong use of paradigm (
The last 20 years has been dominated by Quantitative research, whereas qualitative research has been rather neglected
According to Rohit Deshpande, Businesses have focused too heavily on the paradigm verifying new theories, which involves the use of quantitative measures. There rather needs to be a more proportioned balance with the actual effort in generating new theories, involving qualitative measures, to coexist with the verification paradigm.
However, he does argue that both research methods have an equally important role in market research.
triangulation of procedures
In the context of market research, triangulation is the process of familiarisng with both qualitative and quantitative research techniques, i.e. understanding the strengths and weaknesses of both approaches, and correctly recognising the best situation to use each method.
quantitative research emphasises reliability of results over validity. Qualitative research emphasises vice versa.
reliability= capacity of a study to return the same results
validity= the degree a study actually measures a variable of interest