Quantitative Market Research Method

Quantitative Market Research Method - is a systematic approach to collecting and analyzing numerical data to understand consumer behaviors, preferences, and trends on a larger scale. It involves gathering objective and measurable information that can be statistically analyzed to draw conclusions and make data-driven decisions

Advantages

1. 
   Generalizability
   
2. 
   Statistical Significance
   
3. 
   Comparability
   

Purpose

1. 
   Pricing Analysis
   
2. 
   Customer Satisfaction measurement
   
3. 
   Demand Forecasting
   

Qualitative Market Research Method – is an exploratory approach that aims to understand the underlying motivations, attitudes, and behaviors of individuals or small groups. It focuses on capturing rich, detailed insights and subjective interpretations rather than numerical data.

Advantages

1. 
   In-Depth Understanding
   
2. 
   Rich Data
   

Purpose

1. 
   Understanding Customer Needs
   
2. 
   Uncovering Consumer Presences