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Quantitative marketing research is the application of quantitative research techniques to the field of marketing. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying agreement on the "four Ps" of marketing: Product, Price, Place (location) and Promotion.
As a social research method, it typically involves the construction of questionnaires and scales. People who respond (respondents) are asked to complete the survey. Marketers use the information so obtained to understand the needs of individuals in the marketplace, and to create strategies and marketing plans.
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Simply, there are five major and important steps involved in the research process:
A brief discussion on these steps is:
The design step may involve a pilot study to in order to discover any hidden issues. The codification and analysis steps are typically performed by computer, using statistical software. The data collection steps, can in some instances be automated, but often require significant manpower to undertake. Interpretation is a skill mastered only by experience.
The data acquired for quantitative marketing research can be analysed by almost any of the range of techniques of statistical analysis, which can be broadly divided into descriptive statistics and statistical inference. An important set of techniques is that related to statistical surveys. In any instance, an appropriate type of statistical analysis should take account of the various types of error that may arise, as outlined below.
Generalizability is the ability to make inferences from a sample to the population.
Reliability is the extent to which a measure will produce consistent results.
Validity asks whether the research measured what it intended to.
Validity implies reliability: A valid measure must be reliable. Reliability does not necessarily imply validity, however: A reliable measure does not imply that it is valid.
Random sampling errors:
Research design errors:
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