In marketing, quantitative and qualitative research methods are used to analyze the market. What questions can marketing research answer?
First, market research helps to understand the motivation of the audience when buying a service or product. Secondly, thanks to qualitative and quantitative methods, you can find out the opinion of the consumer about the quality of the goods. Also, quantitative and qualitative research methods make it possible to analyze and understand the reason why you are losing customers, and they want to use the services of your competitors. Ongoing research helps to make the necessary changes in a product or service, so that the client buys more often and more, and would gladly recommend your company to friends. In a word, quantitative and qualitative methods and the organization of research in marketing make it possible to develop and be competitive.
A quantitative study answers the questions of “how much” and “who”. This type of research helps to assess the degree of brand or trademark recognition, identify the main group of consumers, and analyze the prospects for marketing products. A form of quantitative research is a questionnaire or survey of a wide audience in the context of a limited range of problems with the subsequent dissemination of the results of the study to all consumers.
In the process of analyzing the results of quantitative research, statistical methods are used to process the information received, and are used to calculate and evaluate the structure of supply and demand; market capacity; prospects for the development of an individual product, as well as various areas of development of a particular group of goods or product portfolio. In addition, quantitative studies are used to assess the effectiveness of marketing campaigns and the effectiveness of advertising, the network of distributors, and also the consumer’s reaction to potential manufacturer’s marketing moves is calculated.
Quantitative research methods include different types of surveys, home tests, desk-based survey methods, hall tests, and retail audits.
Qualitative research methods reveal the underlying psychological reasons why the buyer performs certain actions and characterizes them. This can be a free choice, a choice influenced by third-party factors (for example, aggressive advertising of competitors), or reluctance to purchase your product, unwillingness to use your services. Analysis of the reasons for this behavior, the true driving motives, moods and views of potential consumers - all this is included in the scope of qualitative research.
Qualitative research methods are divided into the most popular in-depth interviews and focus groups. In addition, the analysis system has mixed methods that allow both qualitative and quantitative information to be obtained.
An in-depth interview and focus group, as qualitative research methods, allow us to identify the buyer’s attitude to the appearance of the product, its packaging, design, etc. This form of research allows you to make sure that, for example, the label or image on it does not offend the religious feelings of the buyer, or does not cause him negative emotions of a different nature. It is qualitative research that makes it possible to detect such factors and eliminate them at the development stage, before launching a specific product in production.
Mixed methods of qualitative research include the “mystery shopper” method, which is often used to analyze the level and quality of customer service at various retail outlets. This method of identifying deficiencies is most often carried out with the approval of the network management.