Qualitative Research: 5
Quantitative Research: 8
DESCRIPTIVE STATISTICS 11
Univariate Analysis 12
The Distribution. 12
Central tendency 13
INFERENTIAL STATISTICS 14
CENTRAL LIMIT THEOREM 15
NORMAL DISTRIBUTION 15
Problem solving 17
CENTRAL TENDENCY 17
According to the American Association, marketing research “is the function which links the consumer, customer and public to marketer trough information-information is used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing actions; monitor marketing performance and improve understanding of marketing process”.
There are two basicapproaches that help managers getting information in order to scan new opportunities or threats and evaluate current products or monitor new ones: quantitative and qualitative research.
Qualitative research by definition involves the analysis of data such as words, interviews, pictures, videos and objects whereas quantitative research involves the analysis of numerical data using differentsoftwares. In other words, qualitative research allows interactions with respondents and in-depth probing of issues and gives great detail as a result while quantitative research allows a projection to the population using statistical results. Each research has its own techniques or methods, each one has both advantages and disadvantages and each research has its own applications in marketingfield.
Qualitative , exploratory, research uses open ended unstructured questions for probing purposes. It often uses a checklist and small non probability sample. More, the analysis consists of looking for key words; however the findings may not be representative and subjective.
Quantitative , descriptive or causal, research uses a large probability sample. The amount of informationvaries from one respondent to another and it uses statistical analysis. The questions are limited and the interviewers need fewer special skills.
The marketing concept is the idea of producing and selling only goods that match consumer needs. In order to study those needs, marketers have to conduct marketing research. However the process is very expensive and the decision to conduct isif usually dictated by the availability of resources.
To conduct a research, marketing researches have to decide whether to use primary of secondary data. Secondary data are collected for some purpose other than the one at hand. It is fast, easy and relatively not costly to use them. It can help identify and better define the marketing problem and identify key variables to help formulateand appropriate research design. The disadvantages of secondary data are that their usefulness to the given problem could be limited and relevancy to the issue at hand. The sources of primary data can be internal (from the company itself) or external (internet, directories…).
On the other hand primary data is when you collect the data yourself using methods such as interviews andquestionnaires. The key point here is that the data you collect is unique to you and your research and, until you publish, no one else has access to it. It may be qualitative in nature (usually in the form of words) or quantitative (usually in the form of numbers or where you can make counts of words used).
From a management perspective, marketing research is vital in order to be able to make importantdecisions regarding the planning, controlling and monitoring of the company.
There are many definitions of qualitative, exploratory research .The most common one is that it is a method used to tell what people think, want , need or perceive regarding a given service or a product. Overall, the research analyzes the human behavior, the attitudes and perceptions, for a...