- See more at: http://www.dearsillyblog.com/2012/01/how-to-remove-page-titles.html#sthash.8rORfd2I.dpuf

Monday, July 22, 2013

The Numbers and the Words: Methodologies in Market Research

What research method is right for you? Quantitative research categorizes information collected through experimental means that is expressed and evaluated numerically. In other words, when asked to use a rating scale to evaluate factors such as employee satisfaction or one’s work environment, a survey participant is participating in quantitative research. Isabelle Albanese, in the May 2013 edition of Quirk’s Marketing Research Review (“Qual, meet quant,” pp. 70-74), sums up the benefits of quantitative research quite nicely: “[q]uantitative research does provide the date and data analysis to make marketing decisions with a comfortable degree of certainty.” Analysts are able to measure performance (and provide comparisons to a baseline if available) and, to a degree of certainty, offer clients the data necessary to make sound strategic decisions.

Qualitative research, by contrast, focuses on the significance of observations made in a study rather than the raw numbers themselves. A survey participant is part of qualitative research when he or she is asked a question such as “What is the main strength of XYZ Company?” Albanese notes the benefit of qualitative research as providing insight, understanding, truth, and inspiration. After all, perception is reality and reality is, well, truth.

Combining these two methodologies into a sort of “qual-quant” methodology has been a hallmark of Tweed-Weber’s research capabilities for the better part of two decades. This sort of cohesion can yield the deepest, richest, and most action-oriented results, speaking truth to numbers and backing up employees’, customers’, and the market’s perceptions with data. Adding a qualitative component to quantitative research, says Albanese, will reveal emotional connections and underlying motivations to the data and will put “emotion ‘meat’ on the rational ‘bones.’” Adding a quantitative component to qualitative research will help in validating and confirming insight on an emotional level and, ultimately, in providing confident recommendations.

The insights, understanding, truths, and inspiration we can glean from our clients’ employees, customers, and stakeholders is truly rewarding as we know that information, coupled with the hardened numerical data we will undoubtedly gather, can be used to truly make a difference in the organization’s, its employees’ and its customers’ lives. Whether it’s through telephone interviews, online survey instruments, or focus groups, Tweed-Weber’s trained researchers are able to build a nearly immediate rapport with our interview subjects and get them to think, “Someone actually cares enough to ask me what I think.”

Tweed-Weber has the track record to assist your organization with all research functions, both quantitative and qualitative. From marketing to sales, customer service to quality, research can be vital to every organization. Why? Every organization, whether for-profit or nonprofit, is interested one of, or a combination of, three things: profit, revenue, and strategic improvements. Any organization that requires any data or knowledge about themselves or their market will use some form of qualitative, quantitative, or qual-quant market research.

If you find yourself questioning what your employees, customers, or stakeholders are thinking, contact us today to learn more. Our office is centrally located in Reading, PA, just about an hour northwest of Philadelphia. Call us toll-free at 1-800-999-6615, visit us on the web at www.tweedweber.com, and be sure to follow us on LinkedIn (Tweed-Weber, Inc.) and Twitter (@TweedWeber).

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