Market research is divided into two main methodological groups: Qualitative Market Research and Quantitative Market Research.
Both methodologies yield different types of data. A needs analysis will dictate which methodology to use, but most market research campaigns would combine a mixture of both.
For example, Qualitative Market Research will identify your customer’s needs but Quantitative Market Research will measure their level of satisfaction. Our Agency provides both.
Qualitative Market Research: Based on opinions and experiences | Smaller sample | Interviews, focus group | In-depth analysis | Open Ended questions
Quantitative Market Research: Based on numbers | Larger sample | On-line & postal surveys, CATI surveys | % of people agreed with a statement | Mostly Closed questions