Course Content
Unit 2: Marketing
Module objectives
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Objectives
Identifying the target market
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Identifying Target Markets
00:00
Identifying size, structure, and trends in the market
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Identifying Size, Structure, and Trends in the Market
00:00
Identifying competitors
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Identifying Competitors
00:00
Target Market Case Study
Market Research Methods and their Uses
00:00
Importance of Validity, Reliability, Appropriateness, Circulation, Cost
00:00
Quantitative and Qualitative data, Where and How it’s Used
00:00
Research Sufficiency and Focus
00:00
Selection and Extraction
00:00
Developing the Rationale
00:00
Product Life Cycle
00:00
Module 2: Planning a Marketing Campaign
About Lesson

Quantitative and qualitative data, where and how it’s used

 

In general, it can be said that quantitative data is suitable for gathering information about the market while qualitative research is suitable for improving one’s understanding of the market. 

Quantitative data is about what can be measured and quantified. That is, data we can give a number to. For example, it’s possible to measure how many people in an area speak Welsh or who are women or men. This information is easier to manipulate and present in the form of graphs for example. Quantitative data can be collected by asking closed questions on a questionnaire – for example, asking yes/no questions.

Qualitative data on the other hand is about people's feelings. It’s much more difficult to analyse and present, but it can be more useful for businesses. Some good methods of gathering qualitative information are focus groups and interviews where it’s possible to discuss with people or encourage conversation between customers.

Watch the video, which is available in English, to see more information about quantitative and qualitative data




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