Quantitative marketing research

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Quantitative marketing research is the application of quantitative research techniques to the field of marketing research. 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.

Contents

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 to obtain and understand the needs of individuals in the marketplace, and to create strategies and marketing plans.

Data collection

The most popular quantitative marketing research method is a survey. Surveys typically contain a combination of structured questions and open questions. Survey participants respond to the same set of questions, which allows the researcher to easily compare responses by different types of respondent. Surveys can be distributed in one of four ways: telephone, mail, in-person and online (whether by mobile or desktop).

Another quantitative research method is to conduct experiments into how individuals respond to different situations or scenarios. One example of this is A/B testing of a piece of marketing communications, such as a website landing page. Website visitors are shown different versions of the landing page, and marketers track which is more effective. [1]

Differences between consumer and B2B quantitative research

Quantitative research is used in both consumer research and business-to-business (B2B) research. However, there are differences in how consumer researchers and B2B researchers distribute their surveys.

Generally, surveys are distributed online more than in-person, by telephone or by mail. [2] However, in B2B research, online research is not always possible, often because it is difficult to get hold of certain business decision-makers via email. As a result, B2B researchers still often conduct surveys via telephone. [3]

Typical general procedure

Simply put, there are five major and important steps involved in the research process:

  1. Defining the problem.
  2. Research design.
  3. Data collection.
  4. Data analysis.
  5. Report writing & presentation.

A brief discussion on these steps is:

  1. Problem audit and problem definition - What is the problem? What are the various aspects of the problem? What information is needed?
  2. Conceptualization and operationalization - How exactly do we define the concepts involved? How do we translate these concepts into observable and measurable behaviours?
  3. Hypothesis specification - What claim(s) do we want to test?
  4. Research design specification - What type of methodology to use? - examples: questionnaire, survey
  5. Question specification - What questions to ask? In what order?
  6. Scale specification - How will preferences be rated?
  7. Sampling design specification - What is the total population? What sample size is necessary for this population? What sampling method to use?- examples: Probability Sampling:- (cluster sampling, stratified sampling, simple random sampling, multistage sampling, systematic sampling) & Nonprobability sampling:- (Convenience Sampling, Judgement Sampling, Purposive Sampling, Quota Sampling, Snowball Sampling, etc. )
  8. Data collection - Use mail, telephone, internet, mall intercepts
  9. Codification and re-specification - Make adjustments to the raw data so it is compatible with statistical techniques and with the objectives of the research - examples: assigning numbers, consistency checks, substitutions, deletions, weighting, dummy variables, scale transformations, scale standardization
  10. Statistical analysis - Perform various descriptive and inferential techniques (see below) on the raw data. Make inferences from the sample to the whole population. Test the results for statistical significance.
  11. Interpret and integrate findings - What do the results mean? What conclusions can be drawn? How do these findings relate to similar research?
  12. Write the research report - Report usually has headings such as: 1) executive summary; 2) objectives; 3) methodology; 4) main findings; 5) detailed charts and diagrams. Present the report to the client in a 10-minute presentation. Be prepared for questions.

The design step may involve a pilot study 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.

Statistical analysis

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.

Reliability and validity

Research should be tested for reliability, generalizability, and validity.

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.

Types of errors


Random sampling errors:

Research design errors:

Interviewer errors:

Respondent errors:

Hypothesis errors:

See also

Related Research Articles

Biostatistics are the development and application of statistical methods to a wide range of topics in biology. It encompasses the design of biological experiments, the collection and analysis of data from those experiments and the interpretation of the results.

Statistics Study of the collection, analysis, interpretation, and presentation of data

Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Populations can be diverse groups of people or objects such as "all people living in a country" or "every atom composing a crystal". Statistics deals with every aspect of data, including the planning of data collection in terms of the design of surveys and experiments.

In statistics and psychometrics, reliability is the overall consistency of a measure. A measure is said to have a high reliability if it produces similar results under consistent conditions:

"It is the characteristic of a set of test scores that relates to the amount of random error from the measurement process that might be embedded in the scores. Scores that are highly reliable are precise, reproducible, and consistent from one testing occasion to another. That is, if the testing process were repeated with a group of test takers, essentially the same results would be obtained. Various kinds of reliability coefficients, with values ranging between 0.00 and 1.00, are usually used to indicate the amount of error in the scores."

Validity is the main extent to which a concept, conclusion or measurement is well-founded and likely corresponds accurately to the real world. The word "valid" is derived from the Latin validus, meaning strong. The validity of a measurement tool is the degree to which the tool measures what it claims to measure. Validity is based on the strength of a collection of different types of evidence described in greater detail below.

In the social sciences, scaling is the process of measuring or ordering entities with respect to quantitative attributes or traits. For example, a scaling technique might involve estimating individuals' levels of extraversion, or the perceived quality of products. Certain methods of scaling permit estimation of magnitudes on a continuum, while other methods provide only for relative ordering of the entities.

Questionnaire construction refers to the design of a questionnaire to gather statistically useful information about a given topic. When properly constructed and responsibly administered, questionnaires can provide valuable data about any given subject.

Survey methodology is "the study of survey methods". As a field of applied statistics concentrating on human-research surveys, survey methodology studies the sampling of individual units from a population and associated techniques of survey data collection, such as questionnaire construction and methods for improving the number and accuracy of responses to surveys. Survey methodology targets instruments or procedures that ask one or more questions that may or may not be answered.

Quantitative research All procedures for the numerical representation of empirical facts

Quantitative research is a research strategy that focuses on quantifying the collection and analysis of data. It is formed from a deductive approach where emphasis is placed on the testing of theory, shaped by empiricist and positivist philosophies.

Likert scale Psychometric measurement scale

A Likert scale is a psychometric scale commonly involved in research that employs questionnaires. It is the most widely used approach to scaling responses in survey research, such that the term is often used interchangeably with rating scale, although there are other types of rating scales.

Questionnaire Research instrument consisting of a series of questions and other prompts for the purpose of gathering information from respondents

A questionnaire is a research instrument consisting of a series of questions for the purpose of gathering information from respondents through survey or statistical study. The questionnaire was invented by the Statistical Society of London in 1838.

Statistics, when used in a misleading fashion, can trick the casual observer into believing something other than what the data shows. That is, a misuse of statistics occurs when a statistical argument asserts a falsehood. In some cases, the misuse may be accidental. In others, it is purposeful and for the gain of the perpetrator. When the statistical reason involved is false or misapplied, this constitutes a statistical fallacy.

Research design Overall strategy utilized to carry out research

Research design refers to the overall strategy utilized to carry out research that defines a succinct and logical plan to tackle established research question(s) through the collection, interpretation, analysis, and discussion of data.

A self-report study is a type of survey, questionnaire, or poll in which respondents read the question and select a response by themselves without interference. A self-report is any method which involves asking a participant about their feelings, attitudes, beliefs and so on. Examples of self-reports are questionnaires and interviews; self-reports are often used as a way of gaining participants' responses in observational studies and experiments.

A test method is a method for a test in science or engineering, such as a physical test, chemical test, or statistical test. It is a definitive procedure that produces a test result. In order to ensure accurate and relevant test results, a test method should be "explicit, unambiguous, and experimentally feasible.", as well as effective and reproducible.

The term Marketing research mix was created in 2004 and published in 2007. It was designed as a framework to assist researchers to design or evaluate marketing research studies. The name was deliberately chosen to be similar to the Marketing Mix - it also has four Ps. Unlike the marketing mix these elements are sequential and they match the main phases that need to be followed. These four Ps are: Purpose; Population; Procedure and Publication.

Statistical conclusion validity is the degree to which conclusions about the relationship among variables based on the data are correct or "reasonable". This began as being solely about whether the statistical conclusion about the relationship of the variables was correct, but now there is a movement towards moving to "reasonable" conclusions that use: quantitative, statistical, and qualitative data. Fundamentally, two types of errors can occur: type I and type II. Statistical conclusion validity concerns the qualities of the study that make these types of errors more likely. Statistical conclusion validity involves ensuring the use of adequate sampling procedures, appropriate statistical tests, and reliable measurement procedures.

In statistics, regression validation is the process of deciding whether the numerical results quantifying hypothesized relationships between variables, obtained from regression analysis, are acceptable as descriptions of the data. The validation process can involve analyzing the goodness of fit of the regression, analyzing whether the regression residuals are random, and checking whether the model's predictive performance deteriorates substantially when applied to data that were not used in model estimation.

Multitrait-multimethod matrix Statistical technique used to examine construct validity

The multitrait-multimethod (MTMM) matrix is an approach to examining construct validity developed by Campbell and Fiske (1959). It organizes convergent and discriminant validity evidence for comparison of how a measure relates to other measures.

Analytical quality control, commonly shortened to AQC, refers to all those processes and procedures designed to ensure that the results of laboratory analysis are consistent, comparable, accurate and within specified limits of precision. Constituents submitted to the analytical laboratory must be accurately described to avoid faulty interpretations, approximations, or incorrect results. The qualitative and quantitative data generated from the laboratory can then be used for decision making. In the chemical sense, quantitative analysis refers to the measurement of the amount or concentration of an element or chemical compound in a matrix that differs from the element or compound. Fields such as industry, medicine, and law enforcement can make use of AQC.

References

  1. Principles of Marketing Module 6: Marketing Information and Research | Primary Marketing Research Methods (Spring 2016)
  2. 2018 Q3-Q4 GRIT Re-port , GreenBook, 2018, p. 34
  3. Wells, Chris (July 12, 2020). "How to Conduct B2B Quan-titative Research". Adience. Retrieved 23 July 2020.

Bibliography