Quantitative research is a research strategy that focuses on quantifying the collection and analysis of data. It is formed from a deductive approach which is focused on the research of market and consumers, shaped by sensory experience and the knowledge gained from that experience.
Quantitative data is any data that is in numerical form such as statistics, percentages, etc. The researcher analyses the data with the help of statistics and generates an unbiased result that can be generalized to some larger population.
The objective of quantitative research is to develop and employ mathematical models, theories, and hypotheses regarding the research. The process of measurement is central to quantitative research because it provides the fundamental connection between observation and mathematical expression of quantitative relationships.
Business-to-business transactions are those that involve the sale of one company’s product or service to another company. The B2B market is large and surpasses the size of the consumer market. The business-to-business market differs in significant ways from business-to-consumer research. Products are traded differently, and there are many dissimilarities between B2B and B2C markets. B2B Market Research, therefore, requires a unique approach.
B2B market research projects are used to inform critical business decisions. A large number of interviews are required to ensure that the insights underpinning these decisions is statistically valid. Quantitative research is the only way to speak to many B2B decision-makers in a cost and time-efficient manner.
Quantitative research is more structured. You can control which questions are asked and how they are asked. This greater consistency means that it is easier to compare responses between different decision-makers. It also limits the bias that can be introduced by an interviewer. quantitative data sets can be the foundation for some fascinating analysis. You can combine survey data with other data sources to elevate your understanding of the target audience.
Business to Consumer (B2C) Market Research is research conducted with consumers on behalf of businesses. It may also be simply called Consumer Research. Research will be conducted with consumers who are asked questions relating to a product or service provided by a business / organisation. Business to Consumer Market Research includes both quantitative and qualitative research and can be conducted using an array of methodologies spanning both online and offline activities.
B2C quantitative market research seeks to discover how many people think, act or feel a particular way (as opposed to why they do) and as such this form of research often utilises large samples ranging in size from around 50, up to thousands of respondents - though it is key that all respondents are asked the same series of questions regardless of sample size.
B2C quantitative market research studies most often take the form of a tightly structured closed-question questionnaire undertaken either over the phone, on the street, by post (self-completion) or through web based sessions.
Computer assisted telephone interviewing is a survey technique where an interviewer follows a script provided by a software application. The software can be customised so that the questions are based on the answers that a respondent provides.
Computer-assisted personal interviewing (CAPI) refers to survey data collection by an in-person interviewer (i.e. face-to-face interviewing) who uses a computer to administer the questionnaire to the respondent and captures the answers onto the computer.
Pencil and paper interviews are one of the techniques of collecting data in market research. The interviewer proceeds by question after question according to the questionnaire and the respondent answers. The interviewer records the answers to the questionnaire. In order the answers are representative, the respondents should be selected as a random or targeted sample.
SPER is having expertise using experienced interviewers for personal interviewing, where the interviewer holds the printed-out questionnaire, reads the question to the respondent and fills the answers into the questionnaire
A telephone survey is one among the survey methods utilized in collecting data either from the overall population or from a selected target population. Telephone numbers are utilized by trained interviewers to contact and gather information from possible respondents.