Asked by Wendy Thurmond on Apr 26, 2024

verifed

Verified

What is the difference between quantitative data and qualitative data? As a marketer,how should you utilize both types of research?

Quantitative Data

Data that can be quantified and is typically structured in nature, usually represented in numbers and statistics for analysis.

Qualitative Data

Non-numerical information that describes qualities or characteristics, often gathered through interviews, observations, or surveys.

Market Research

The process of gathering, analyzing, and interpreting information about a market, including about consumers and competitors.

  • Differentiate between qualitative and quantitative research methods.
verifed

Verified Answer

RM
Raquel MartinezApr 29, 2024
Final Answer :
Qualitative data are those data that are developed from observation or via textual,verbal,and open-ended responses methods.Qualitative data tend to be subjective and imprecise and are not easily compared or generalized across customers,but qualitative data can provide invaluable depth and vividness.Quantitative data are responses that are provided or can be summarized numerically,and quantitative methods are conducive to statistical analysis,enabling generalization of results across larger groups.The ability to compare data across customers,for example the ability to compare customers across time or across segments,and the ability to "generalize" to all customers in a target population (a segment or a market)support the use of quantitative data in many market research applications.The general flow should be from qualitative research in small,nonrandom samples toward quantitative methods in larger and random samples.