Types of Market Research

Cards (5)

  • Types of market research
    • Qualitative
    • Quantitative
  • Qualitative research

    • Focuses on understanding the "why" and "how" behind customer behavior
    • Gathers non-numerical data through methods like in-depth interviews, focus groups, and open-ended surveys
    • Provides rich insights into customer motivations, opinions, and thought processes
    • Useful for exploring new concepts, uncovering underlying needs, and generating ideas for further research
  • Quantitative research

    • Focuses on measuring and analyzing numerical data
    • Gathers data through methods like surveys, polls, website analytics, and sales figures
    • Provides statistically significant results that can be generalized to a larger population
    • Useful for measuring customer preferences, testing hypotheses, and identifying trends
  • While qualitative and quantitative research are distinct approaches, they are most powerful when used together
  • How qualitative and quantitative research are combined
    • Qualitative research can inform quantitative research: Insights from qualitative studies can help you develop targeted questions and hypotheses for your surveys and polls
    • Quantitative research can validate qualitative findings: Data from quantitative research can help confirm or disprove trends identified through qualitative methods