How to define Quantitative Market Research?
In today's world, many things get changed drastically, the way of doing things, way of living lifestyle & way of doing each and everything has significantly changed. The main reason behind this revolution is the revolution in the internet & technology. Nowadays technology & the internet is playing an essential role in human life as well as for the organization.
From a business point of view, the way of doing business, methods & tactics got changed drastically, as due to the high number of competition & rise in technology present in the current market scenario. They say, the success of the market completely depends on data, the data about your audience, what they need to get these kinds of data, the market research plays a key role.
Market research is an effective way to help businesses to know their target market & segment which is divided into several methods. Quantitative Market Research is a way of market research specifically implemented on a large basis in the form of conducting interviews, surveys, polls, or questionnaires to target audiences.
Quantitative Market Research allows businesses to analyze real-time received responses and can be analyzed to make decisions for improving products and services, which will in turn help increase respondent satisfaction levels.
In simple words Quantitative Market Research involves any research conducted using observation and unstructured questioning. It determines the customer's motivation through close observation.
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