qualitative and quantitative data

• What is the purpose of market research?

  To collect information about the market or what customers want to help a business be more successful.
• How can market research be conducted?

  It can be done by the company itself or taken from elsewhere.
• What are the two main types of data collected in market research?

  • Qualitative data
  • Quantitative data
• What is qualitative data?


  Data usually expressed as opinions and includes descriptive information.
• How is qualitative data typically gathered?

  Using open-ended questions, such as ‘What do you like about the product and why?’
• What is a disadvantage of qualitative data?

  It can be time-consuming and costly to gather and analyze.
• What is quantitative data?

  Data that is usually numerical and gathered through closed questions.
• How can quantitative data be expressed?

  It can generally be expressed in a graph or chart.
• What is a benefit of quantitative data?

  It is simple and quick to analyze, providing easy-to-understand results.
• What is a limitation of quantitative data?

  It lacks specific opinions and doesn’t always show exactly what customers think.
• What are the methods of market research mentioned in the material?

  • Primary research
  • Secondary research
• What is the definition of market research?


  Market research is the process of collecting information about the market or what customers want.
• What is the role of market research in spotting business opportunities?


  It helps a business to be more successful and spot gaps in the market.
• What type of questions are used to gather quantitative data?

  Closed questions, such as ‘yes’ or ‘no’ responses, multiple-choice options, or a rating system.
• Why is qualitative data considered valuable despite its disadvantages?

  It provides detailed information that cannot be expressed in a graph or chart.
• How do qualitative and quantitative data differ in terms of analysis?

  Qualitative data is detailed and descriptive, while quantitative data is numerical and easier to analyze.