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Methods of marketing research - Essay Example
Both descriptive and inferential statistical techniques can be used to analyze the data and draw conclusions. It involves a quantity of respondents sometimes ranging in number from ten to ten million, and may include hypotheses. Marketing research may include both experimental and quasi-experimental research designs.
This differentiate it from Quantitative Research in which a large group of respondents provide data that are statistically analyzed.
Qualitative research methods are used primarily as a prelude to quantitative research. They are used to define a problem, generate hypotheses, identify determinants, and develop quantitative research designs. They are expensive and slow. Because of the low number of respondents involved, these exploratory research methods cannot be used to generalize to the whole population. They are however, very valuable for exploring an issue and are used by almost all researchers.
Quantitative research is an overall presentation of a research. It defines the problem, the research design and the method of data collection and most of all the data is interpreted using the various statistical tools like
The data collected is interpreted and presented using charts, graphs and diagrams to be easily understood. The quantitative technique is more accurate because it involves a large number of sample compared to the qualitative technique.
As qualitative technique is a proceeding event to the quantitative technique, it is used to define a problem, generate hypothesis identify determinants, and devel ...