02 JUNE 2018

Quantitative research

Quantitative research is a research methodology which uses questions and questionnaires to gather quantifiable data and perform statistical analysis to derive meaningful research conclusions.

How to perform Quantitative Research

Quantitative research is a research method which makes use of questions and questionnaires to collect quantifiable information and carry out statistical analysis to derive significant research conclusions.

Quantitative market research. commonly includes customer surveys and questionnaires. these can be performed face-to-face with a clipboard and pen, over the smartphone, through post or e-mail, online or through your website.

Survey questions ought to be cautiously taken into consideration so that the results offer significant records. Don’t just ask if people understand about your business - ask how regularly they visit, what products they buy and where else they move to buy the identical products and why. Solutions on a structured questionnaire are generally closed - in other words, they require respondents to pick out from a particular choice of solutions and do not permit for the respondent to qualify their solution or elaborate.

By means of asking lots of people the same questions, it’s feasible to accumulate a clearer picture of how clients behave. you can then use this quantitative data to guide your business decisions.

You could also use quantitative research.methods to examine sub-groups of clients. It’s worth using surveys to find out about your customers so that you can analyze the results of each group. Make sure you speak to a good number of each type of customer so you get the clearest view.

If you do again and again your surveys regularly, you can monitor how opinions are changing and how your new initiatives are being received. Try to keep some of the questions the same so you can make true comparisons with previous research.

Quantitative market research can answer many business-critical questions, including:

  • Is there a market for your products and services?
  • Is there a market for your products and services?
  • Is there a market for your products and services?
  • What type of people are your best customers?
  • What are their buying habits?
  • How are the needs of your target market changing?

Qualitative Research

Qualitative research is a research methodology where quality or opinion based research is conducted to derive research conclusions. Once, utilized to a large extent by bigger retail companies, they are now used by businesses of all sizes to better understand their customers.

Why do Qualitative Market Research?

Research is an essential first step before you start many key marketing tasks including preparing a marketing plan, doing SWOT analysis, product development, branding, and pricing. And market research should also tell your online marketing strategy - the whole thing from the design of your website to email newsletters, SEO, and social networking.

Market research can also assist you to build up your products and services and confirm they meet the needs of your target audience. For example, if you run a restaurant and you want to introduce a new menu, you could invite local people to come and give you feedback on your dishes, service and proposed pricing. This kind of exercise would not cost you much, but it could provide you with key feedback and increase your probability of success.

Qualitative research before a new product launch

This kind of customer research approximately always reveals one or two key issues that can then be ironed out before you launch your product.

  • Is it easy to use?
  • Does it do what it's supposed to?
  • Is the design attractive?
  • Does it look as if it will stand out next to competing for products in-store?
  • Is the packaging working?
  • Is the price right?

Before you go into production with a new line, it's vital to get your product into the hands of some members of your target market: Ask them:

Qualitative research is useful for answering questions such as:

  • How far is my customer satisfied with my product or service?
  • How powerful is my company’s brand in the market?
  • What segments of the market provide the most sales revenue?
  • How can I find potential customers in a market for a new product or service?
  • How much do I know about my customers’ buying behavior and perceptions towards my product/service?

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