One of the most fundamental research design decisions that market researchers make is whether to use a quantitative or qualitative research design. Traditional and elaborate market research designs are giving way to more fluid and adaptable methods for gaining consumer insights. That is why Lockwood Research pursues a deep knowledge of new methodologies and tools to conduct quantitative and qualitative research. Using these tools, we can bring added value through strategic insights that are actionable.
- Quantitative research creates statistically valid market information because data is collected from a large sample that is representative of the population being studied. Because quantitative research involves the statistical analysis of the data that is collected, we collect numerical data. Using the right data collection tools is a critical element of the research design. Internet and online, telephone and mail surveys are common quantitative techniques.
- Qualitative research provides definitive market information regarding the opinions and behaviors of the subjects based on a small sample. Qualitative data are not necessarily or usually numerical, and therefore cannot be analyzed using statistics. In-depth interviews and focus groups are common qualitative research techniques.