5.3 - Qualitative and Quantitative Research

Qualitative Research 

Businesses use this method to understand the thought process that guides the customers in their choices and habits when buying products and services. Through evaluating, the business can understand the decision making process of the customers.

Qualitative research involves the use of focus groups and in-depth interviews. Market researchers can then draw conclusions based on the attitudes and behaviours which govern customer decision making habits and can form a theory based on their responses.

Quantitative Research

This method is employed by businesses in making the right decisions. It uses formal methods for the purpose of forecasting, measuring and describing quantity through various methods of sampling.

• Quantitative research measures a market. It then quantifies the derived measurement with selected data. The data usually relates to the market share, penetration, market size or the growth rate of the market. 
• Quantitative research gives key insights into the attitudes of customers and their levels of awareness. It assists businesses to understand their customers better.
• This research method can target specific market segments and provide important details about such segments. Businesses need to have such details in order to optimise their budgets and make the most of the implemented strategies for marketing products and services. 

Variations between Qualitative and Quantitative Research

Qualitative and quantitative research are both vital market research methods that focus on strengthening the business decision making process and understanding the consumers thinking and behavioural process. Hence they vary in several ways as summarised below:

Quantitative research involves greater sample size and reflects the population to a greater extent than qualitative research which deals with a smaller group. 

Quantitative research is less intensive than qualitative research. The interviewer can ask very in-depth questions to secure answers to help the research process.

Quantitative research results are much more objective than qualitative results.

In qualitative research, the gathering of data is less rigid than quantitative, which tends to be very thoroughly planned. 

Motivation, traits of attitude, and behaviour are understood in greater details when conducting qualitative research.

Activity 18 - Explain the difference between qualitative and quantitative research.