One way to organize
market research is by quantitative
and qualitative techniques.
A proper
clarification of quantitative and qualitative research are as follows, but if
you want to keep this topic very easy, think of quantitative data as prepared
(often numerical) data that can be plugged addicted to a spreadsheet and
analyzed with statistical methods equally, think of
qualitative data as unstructured
information (focus group comments, observations, etc.) that is summarized
individually, as opposed to mathematical Information.
Quantitative Research:
This research aims to
independently measure the topic at hand over, with mathematics and
statistics.
If you are doing
quantitative research, you will mostly analyzing raw data with the help of a
spreadsheet software curriculum like Microsoft Excel, or a statistical package
like SPSS.
To facilitate this type of
examination, your data will need to be gathered in a structured arrange.
Quantitative
research is frequently conducted using market research methods like surveys
and experiments, which are best for collecting structured data.
Considering that original primary
research may not be necessary to conduct quantitative examination, there are
many secondary research data sources available that have structured data
perfect for quantitative analysis (a good model is gap minder).
Example: each day, one-question
survey is conducted at the website
“On
Any Interesting Topic for the Survey”. .
These surveys are easy examples of quantitative research, because they
can be analyzed numerically.
The model
below shows response percentages for the question “who is your favorite Disney
character?”
Since you can see, the data
was collected in a structured way (multiple choice questions) and the results
are summarized in an objective, statistical fashion.
Qualitative Research:
Qualitative research is typically unstructured
and exploratory in character. In this
case, the researcher is not interested in formative objective statistical
conclusions or in testing a hypothesis, but rather in gaining insights about a
certain subject. Common qualitative
research techniques include focus groups, interviews, and statement.
Because the data is unstructured–imagine
a bunch of handwritten notes from a focus group meeting–it can be tricky
drawing conclusions and presenting the conclusion. In the container of interviews and focus
groups, the moderator may simply take some time to write up the key points heard
in the meeting, and then present those key points to the involved parties. For model, in a focus group about pizza, you
might see the next summary: “common concerns among participants were cheese
overuse, greasiness, and bland sauce.”
However another qualitative
analysis method is automated content examination. Let’s say you have a large heap of
unstructured text that you’ve typed up during a focus group. You could yourself look through the notes and
draw some conclusions. You could
moreover take that text and dump it into a content analyzer.
