Topic > Market Research Tools - 1578

Market Research Tools There are a number of market research tools available, classified as primary or secondary research. Discussion of how primary or secondary research tools fit into quantifiable or qualitative research and what qualifies as a quantifiable or qualitative approach. Quantitative Research According to Burns and Bush (2006), “quantitative research is defined as research that involves the use of structured questions in which response options are predetermined and the number of respondents is large” (p. 202). Research quantitative often uses numerical values; however, the data is always very structured in a standardized form, has a clear definition and provides an orderly process Qualitative research “Qualitative research involves collecting, analyzing and interpreting data by looking at what people do and say. Observations and statements are in qualitative or non-standardized form” (Burns & Bush, p. 202, 2006). be lengthy, resulting in delayed results. Sampling will typically also be smaller in size Primary research is considered relevant to ongoing research specifically formatted, conducted, and compiled to reflect substantive data directly related to the specific problem. Primary research can be expensive to prepare, implement, and data interpretation can be time-consuming. Primary research can be either qualitative or quantitative in the data provided, often referred to as pluralistic research. There are two main categories of primary research, which are exploratory and specific and directed at a target audience that would provide substantial data… midway through the paper… and both benefit an organization; however, it ultimately depends on the information needed regarding the best type of search application for the particular organization. Typically, the most cost-effective way for an organization is to gather information available in secondary data sources. If the research information proves to be insignificant, primary research may be the best research to implement. Works Cited Aaker, D. A., Kumar, V., & Day, G. S. (2007). Market Research (9th ed.). Hoboken, NJ: John Wiley & Sons.Burns, A.C., Bush, R.F. (2006). Market Research: Online Research Applications (5th ed.).Upper Saddle River, NJ: Prentice Hall.Entrepreneur Media, Inc. (2011). Small Business Encyclopedia: Secondary Market Research. Retrieved November 19, 2011, from http://www.entrepreneur.com/encyclopedia/term/82616.html.