I know a fair amount of people who do market research. Of all the people I know personally and professionally, most of them are divided into people who do quantitative research and those that do qualitative research. There are companies that do both, but generally, the people within these companies focus on one or the either.
However, just because these individuals tend to focus on one side of the business or the other, does not mean that your research needs to be purely quantitative or qualitative research.
I was recently talking with someone regarding ideas for a research project. During the conversation, it was evident that they were needing and wanting focus groups of a group of people who would be the suppliers and retailers of the product. However, I discussed with them the possibility to include quantitative methodologies during the groups and to also include a survey of potential customers.
By looking at ways to combine both types of traditional market research methods, you can minimize some of the shortcomings of the primary method you are using. You can also gain some additional insights that the method you are using may not provide.
Another example I have used in the past is in a focus group, I have had participants write down pricing or had them fill out a Likert Scale on features of a product.
How do you think you can combine market research methodologies in an upcoming project? I would like to hear your thoughts.
–J. Nolfo helps companies understand their market and customers though a variety of market research strategies. He has over ten years of experience of market research for strategic planning purposes. He is the Director of Research at Rhino Market Research. He shares his thoughts about market research and business concepts with his blog “Pensare…Understanding Market Research in Business“. If you would like to discuss this blog or how J. can help you understand your market and customer needs, email him at firstname.lastname@example.org.