BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The difference between quantitative and qualitative market research is that ..
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The latter method relies on a much larger number of respondents to get a statistically valid set of answers.
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The former method uses a large sample size.
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The former relies on primary research whilst the latter relies on secondary research.
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Only the former method can be statistically analyzed.
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Explanation:
Detailed explanation-1: -In brief, quantitative market research refers to the process of collecting large amounts of data through surveys, questionnaires, and polling methods. Conversely, qualitative market research involves determining customer motivation through close observation –– typically in a small group or face-to-face encounter.
Detailed explanation-2: -Qualitative research uses data in the form of words, phrases, descriptions or ideas. It is time-consuming and therefore only has a small sample size. Quantitative research uses data in the form of numbers and can be visualised in the form of graphs. It requires large sample sizes to be meaningful.
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