BM 4.4.4-5 - Quant. & Qual. research + Sampling

Define qualitative market research

Getting non-numerical answers and opinions from research respondents

state the purpose of quantitative market research

understand the behaviour, attitudes and perceptions of customers, employees or other respondents

define “soft answers”

people’s views and opinions rather than facts

What are the 2 main types of qualitative research?

• focus groups

• in-depth interviews

4 advantages of qualitative market research

• Exploring motivators + demotivators for purchase

• Flexibility in process → yields useful extra info

• Low no. of respondents → inexpensive + detailed info

• One-to-one → more honest + representative answers

4 disadvantages of qualitative market research

• Limited representation

• Conduction + interpretation can be time-consuming

• Interviewing expertise required → cost of hiring skilled interviewers

• Interviewer bias

define quantitative marker research

Collects and analyzes numerical data from a large, representative sample to gauge the views of the population

what does quantitative market research generally rely on?

a large, representative sample

define “hard answers”

answers that give factual and measurable information

preferred by quantitative market research

Define the 2 question techniques are used in quantitative research

• closed answers - respondents choose from a series of responses

• likert or sliding scales

2 advantages of quantitative market research

• Large representation

• Findings can be collated and represented numerically → easy to analyze

3 disadvantages of quantitative market research

• no flexibility

• simplistic answers

• can be expensive to reach a wider sample size