Quantitative market research includes data collection through surveys and structured questionnaires. Since the questions are structured and the possible answers are structured and predetermined, the data collected in this method is numerical. Statistical formulas are also used for its analysis. The large sample size in this type of research strengthens the generalizability of the results.
Types of quantitative market
research methods: This type of research can be done in two primary and secondary research methods:
Primary research: The most common types of quantitative research are:
Survey: contains structured questionnaires with closed questions, which are divided into two types, cross-sectional and longitudinal
Cross-sectional survey: In this method, the collected data is analyzed at a specific time and in a specific community.
Longitudinal Survey: In the longitudinal survey method, research is conducted over the years on the target demographic market to collect statistical data.
Individual interviews: they are conducted in 3 ways: face-to-face, telephone, and online.
Secondary research: This method helps to validate the primary statistical data by looking at historical data.
Quantitative methods have different applications; Describing (comparing, drawing features, etc.), correlation analysis between variables (without intervention and changing variables), experimental research (investigating the relationship between variables with intervention in variables) and survey research are different types of quantitative market research methods.
A larger sample population leads to more accurate results.
Surveys and questionnaires are structured and it is possible to convert answers into numerical data
Ease of data analysis because it is based on numbers
No bias in the data
The possibility of direct comparison of the results obtained in different times and environments
- The possibility of ignoring more data due to having a determined structure and being based on numbers
- Surface representation of emotions
- If the measurements are not clear and some data is lost, deviations will be created in the data