Difference Of Quantitative Market Research VS Qualitative Market Research: A Quick Recap

What does your business require - qualitative market research or quantitative market research?
The right answer is - a mix of both. 

Where, What, Why, and When, quantitative market research techniques primarily investigate these questions to understand what works for consumers, qualitative market research on the other hand questions the “Who” & “How”. Therefore, out of the two, quantitative market research techniques are more structured while qualitative market research is more immersive as they deal with psychological, cultural, social aspects that influence a consumer mindset.

The Three Basic Differences between Qualitative Market Research & Quantitative Market Research

  1. The Concept 
Qualitative market research inspects human behavior from the respondent's point of view! Quantitative market research techniques explore facts from and on social occurrences. Qualitative research, therefore, is more dynamic and open to adaptations, while quantitative research is more scalable and goal-oriented.

  1. The Methodologies 
Qualitative market research is a long drawn process of collecting data through multiple methods, one of which is in-depth interviews of respondents. Quantitative market research techniques take less time to process statistical figures concluded from comparisons in consumer behavior. 

  1. The Focus 
Qualitative market research focuses on multi-method analysis while observing individuals in a natural environment. The quantitative research focuses majorly on measuring things under a variety of categories, rank, and divisions.

How to benefit from qualitative market research & quantitative market research techniques

To design a powerful marketing strategy, it’s best to put to use the strengths of both qualitative market research and quantitative market research techniques. Once quantitative market research techniques give you statistical data you know the numbers for conversions and can set business objectives, accordingly. Qualitative market research helps improve product or service quality by reflecting on consumer behavior and preferences.

Both the techniques are a critical to make informed business decisions, decisions that can curtail risk factors, and escalate possibilities of converting business opportunities to real deals. Compete conveniently and grow your business with the benefits of qualitative market research and quantitative market research techniques- they help you understand your consumers better!

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