What is quantitative marketing research?
market research is a process of surveying customers and potential customers using controlled and specific processes. Quantitative data is data that can be objectively measured. Quantitative marketing research is therefore a process of collecting measurable data from customers, potential customers or the general public. This data can then be used to predict shopping formulas and future demand and to identify target markets.
Quantitative marketing research concerns specifically the collection of factual, measurable data. This includes personal data such as gender, age, annual income or number of children, about the person who is interviewed. It also includes data, such as the number, how many times the interviewee attends a specific shop or restaurant, the amount of money he spends on food every month, and the number of hours he spends watching TV or listening to the radio.
Such data can be further drilled. For example, a company whose target market Jesena aged 30 to 40want to know which radio or television stations interviewed in this age range is watching or listening. He will also want to know during which these stations are tuned. This allows the company to buy advertising time at these specific stations in the most watched times.
The counterpart to quantitative marketing research is a qualitative marketing research that deals with unmensible data. This includes the opinions of the interviewees, such as whether the individual likes a certain actress or has a certain activity in his free time. It also includes relational data, such as which of the two foods is a popular interviewee.
It is possible to quantify opinions using an evaluation scale. For example, the interviewee request to identify his favorite restaurant from the list of several is an example of qualitative research. If, Howver, the interviewee gets the same list of restaurants and asked to assess theAnd of them on a scale of one to 10, the resulting data is an example of quantitative marketing research because the results can be measured.
Research studies often include both types of data to get a well -rounded view of consumer opinions. Quantitative marketing research can reveal specific facts that can then be explained by qualitative research. For example, the quantitative part of the survey may reveal that the interviewee shops in the store three times a month and saving B only once a month. The qualitative part may reveal the reason for the disparity.