When doing a market research, the first thing the team asks to each other is which method to use, qualitative or quantitative. Indeed, both approaches offer sound results when conducted properly, but there are instances wherein they have to be conducted independent of each other. Thus when working on a market study, it is important that you know which direction to go to, qualitative, or quantitative.
Doing a Philippines quantitative research is a highly effective way of studying the market, especially when you are out to test theories that you have already derived from previous studies. While in a qualitative research you explore and find explanations for a certain phenomena, the quantitative approach on the other hand seeks to confirm the theories behind the phenomena through the numbers. Being able to do a quantitative study allows you to make good use of numbers and figures when proving hypotheses; after all, numbers don’t lie.
So when should you use a quantitative research for a market study? Here are some points to look at:
- Confirming a hypothesis.
Let’s say the market you are studying seeks to draw a trend as to why your target consumers have the tendency to choose product A over product B. In a qualitative study, you will be extracting explanations as to why the audience chose product A more often and not product B. You will be seeing a multitude of reasons, each of which providing a good picture on the behaviour of the market.
On the other hand, you will want to confirm whether all these reasons do lead to the same result, and you can do this via quantitative research. How many responded to theory 1, theory 2, and so on.
- Your data is in the form of numbers.
In a market research, it is very important that you get figures on the responses of your audience, and while the narratives and opinions are useful, the frequency and other numerical results of the data collection are also essential in forming your study. Through numbers, you are able to see how study this hypothesis is (or how weak it is), and as well as correlate your findings with other studies.
- You are using highly structured methods.
Unlike in a qualitative study where you can be flexible in the data collection process, in a quantitative approach you will be dealing with more structured and rigid procedures. These include surveys, questionnaires, statistical formulas, etc. If you are required to provide documentation based on these tools, then a quantitative study is the way to go.
Your questions are likewise designed to be closed-ended, so that they can be measurable and not be without bias.
- Findings are documented using objective language.