Discuss the following statement: “Quantitative research is more important than qualitative research because it results in statistical information and conclusive findings.”

Discuss the following statement: “Quantitative research is more important than qualitative research because it results in statistical information and conclusive findings.” 

“Quantitative research is more important than qualitative research because it results in statistical information and conclusive findings” stated that the functions of quantitative research are more important than qualitative research. However, this statement is not that suitable and reliable nowadays. Quantitative research, as well as qualitative research, plays a significant role in today marketing research area. They enable researchers to analyze and evaluate people's behaviours and thinking for a particular topic. Most companies use this research methodology to get reliable and primary data. "The distinction between qualitative and quantitative research are closely parallels the distinction between exploratory and conclusive research (Belliveau, Abbie and Somermeyer 2002)."  

Qualitative data are gathered primarily in the form of spoken or written language rather than in the form of numbers. This type of research is to identify the social meaning and individuals' interaction in terms of gathering people feelings, views, attitudes, interests, motivations and beliefs (Donald E 2005).In other words, the researchers are more likely to get the results by understanding how people perform their human actions in society. For this reason, qualitative research is not only a useful tool for the identification of population study, but also more accurate than quantitative research (McDaniel and Gates 1988). In other words, qualitative research yields insight rather than compute, to investigate rather than pin down. For instance, focus group, which is one type of qualitative research, can produces insight into complex issues such as customer preferences (Hanson and Grimmer 2007).

Does that mean that organizations that conduct market research will perform better than organizations that does not?

Does that mean that organizations that conduct market research will perform better than organizations that does not?

Do organizations really need market research? There is a perception along with smaller businesses that the really profitable entrepreneurial companies don’t use research: but that’s only half true (Do you really need market research? n.d.). In fact, they do use research, but not as much as the big name brands. Take Covent Garden Soup Co (NCG), one of Britain’s best-known success stories. As Kate Raison, the company’s marketing director, explains, while NCG’s founders didn’t do any research into the product, they researched what the retail trade thought of its packaging. Organizations that do market research on a regular basis are positioned better to stay in touch with their customers or clientele.

Bob Waterman wrote in The Renewal Factor that the mirror of marketing research tells them that the world has changed and that, in the harsh light of the new reality, they are not as beautiful as they once were unless they change, they're in for a crisis (Do you really need market research? n.d.). However, those organizations that conducts that contribute more than those who do not while the research is going on, they can understand the pros and cons of marketing research. Thus, this cannot conclude that organizations carry out marketing research will perform better in their business. Conduct marketing research will definitely increase the overall performance of the company as long as company manager interprets the data of research appropriately and vice versa.

In what ways can marketing research influence the development and implementation of marketing strategy?

In what ways can marketing research influence the development and implementation of marketing strategy?

Market research has become a prominent tool and collecting the data, information about various products that are used by the customers and the companies can improve on it. Data gathered to determine customer needs and wants and to provide feedback on company performance are used more effectively (How has the marketing concept changed marketing activities? 2007). Market research is actually what the people want and their needs. Once the research is done, the company can act accordingly and create the product according to the need of the customers and satisfy their needs.

For conducting a market research there are various problems which can be solved by market segmentation in which there is division of places and there are professionals been placed over there so that they can cover certain area and carry on the process which can be easier and wide area can be covered as well. When a company is starting the project totally new, it will be problematic as there won't be much idea about the market trends and what are the targets, which are to be achieved. Proper analysis should be done on the customer regarding their needs, wants and desires so that the company can have a proper survey and can help them in satisfying their needs (marketing strategy n.d.). There are the following ways that marketing research provides company to develop effective marketing strategy.