Quantitative Market Research Services - The Essential Market Study

By Author: Samuel Arthur
Total Articles: 340
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With more and more competition entering your market areayou may be feeling perplexed and worried about your company's performance or the future competition your business is likely to face. You prefer to stay prepared in advance for the future and hence find it essential to opt for a quantitative market research study.

By undertaking a quantitative market research study you will ascertain the size of the potential market and how your competitors behave not only in the present but their future market behaviour patterns.

Quantitative Market Research is aimed at getting a fair idea of

Consumer Attitudes & Behaviour
Size of the Market
Segmentation and Brand Recall

The main techniques used for understanding the market include

Data Capture methods
Statistical Analysis

While methods of capturing data include various online survey methods such as

Online Surveys
Phone Surveys
E-mail Interviews
Intercept Studies
Personal Quantitative Interviews

The data so derived from these surveys and interviews is then analyzed and put forth in ...
... the form of a case study report to the client.

It is imperative for a company to choose a well established market research firm which knows how to create a quantitative market research method as per the company requirements and the products or services taken under the study. The approach of the market research company is of utmost importance.

The market research company should begin with ascertaining the problem in totality before beginning its study. It is extremely clear to get a clear idea of the problems and defining the objective of its study before even undertaking a single step towards the research

Designing of the research plan is the second most important step. This entails in deciding upon the target audience and tools required to undertake the study. At this point, customization is required as the research requirement differs with regards to objects well as products.

Once this method is decided upon, the market research study is implemented and data collection process is undertaken through online surveys, email interviews, telephonic interviews and other techniques. The information so collected is then put through statistical analysis involving various methods such as Regression analysis, ANOVA, Cross tabulation to name a few of them.

The Final stage of a quantitative market research is reporting. The reporting involves information in graphs, charts and even tabulation of data. Through the report presentation, the companies can study the findings and arrive at concrete conclusions as well. The in depth study helps in ascertaining the way out with reference to the objective of the study while the company gets greater insight into the key market indicators as well.

Lastly, though we know most companies operate on gut feel and market findings but for those of companies who wish to judge the market scenario through a methodical approach, quantitative market research is just the right way to do it and perform better at all times.