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Quantitative market research for companies to quantify, measure, estimate and segment markets. Capabilities in online surveys, phone surveys, mail, in-person, and intercept surveys.
Quantitative market research studies are designed to assess, predict, and estimate buyer attitudes and behaviors, used for market sizing, market segmentation, and uncovering "drivers" for brand and product preference.
Quantitative marketing research designs gauge, describe, and forecast quantity. Using a range of
sampling strategies, quantitative market research studies often project
results of quantitative market surveys to the entire marketplace. Popular quantitative market survey methods include online surveys, personal
quantitative interviews, mail surveys, intercept studies, and phone surveys. At Power
Decisions Group, we recommend the data collection technique -- phone, personal interviews, online web interviews, mail -- according to the research objective, time requirements, and quality control issues at play.
Quantitative Research Data Collection Methods -- Key Strengths
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Fast implementation for
complex measurement constructions. |
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Top-of-mind
brand awareness and first reaction attitudes. |
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Hybrid
quantitative/qualitative; depth probing of attitudes and beliefs by
skilled interviewers. |
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Allows time for respondent
to think about complicated issues without pressure or interviewer
influence. |
Intercept
Central Location Testing (CLT):
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For both
quantitative questions and for choice exercises in mock stores, and for
physical product examination and concept testing. |
Market Survey
Types |
Type
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Description |
Strengths
Weaknesses |
Quantitative Market Surveys |
Phone
Surveys
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Random
probability samples can be generated from firms such as Survey
Sampling, Inc. (SSI)
Best
for mostly close-end questioning, when dimensions and ranges
of issues are known. Success
depends highly on filtering sample to those consumer or
business users who find topic or category relevant. 10-12
average interview length is maximum target unless highly
specialized population or incentives paid.
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Optimum
use is for top-of-mind awareness, branding and brand
comparisons, and perception studies.
Response
rate is critical, especially with growing privacy issues and
phone screening among consumers and business executives alike.
Low
relative cost
Generally,
fast implementation.
Skilled
interviewer can extract more information than a
self-administered method (mail, online)
Critical
to monitor response rate to ensure sample is representative of
target sampling frame. |
Personal Interviews
and
Central
Location Interviews
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Random
probability sample -OR- convenience sample, depending upon
design. (Central location usually use a convenience
sample, i.e. mall traffic)
Used
where a face-to-face environment is desired.
In
B2B market research, personal interviews may be done by appointment
where interviewer goes to respondent's office.
Some
special consumer studies may be done in-home by appointment.
Often
respondents are recruited to come to a central location, or
recruited from mall traffic to a nearby office to conduct
interview.
Used
for complicated or sensitive issues, B2B market research environments, or
where extensive physical or visual display requirements exist
along with need for specialized interviewing skills (depth
probing, time for evaluation and reaction.) |
High
cost.
Can
provide good hybrid method combining features of qualitative
and quantitative research by asking quant-type questions
first, followed by in-depth probing questions and projective
techniques.
Skilled
interviewer can extract more information than a
self-administered method (mail, online) |
(Web
Surveys) |
Can
employ true random probability sampling
Complicated
survey questionnaire formats can be used. For example, piping,
rating, rankings, constant sum questions, etc.
Easy
to display visual information previously available only in a
face-to-face interview format. (advertising copy, concept
statements, projective stimuli, etc.)
Allows
deployment of complicated respondent tasks. (card sorts,
conjoint ratings, etc.)
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Low
relative cost
Generally,
fast implementation.
Sampling
control is critical.
Large
pre-recruited panels allow quick access to willing
respondents, although sampling validity must be carefully
assessed.
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Hybrid
Surveys -- Methods
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Hybrid
methods combine two or more techniques to optimize response or
measurement validity.
Examples:
>Mail
or phone invitation to online surveys.
>Online
surveys with phone follow-up to permit depth probing of key
market research questions by expert interviewer.
>Quantitative
surveys from which participants are selected based on their
answers for a follow-up qualitative phase (focus
group, depth)
>Panel
recruited from a one-time quantitative survey. (see Panel
Research FAQ) |
Higher cost
More time required
for implementation.
Enhances quality through higher response rates, and better response quality or validity.
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Marketing Consulting Services Summary Overview
Marketing Strategy Consultants As marketing strategy consultants, our consulting firm will work with you and your company and management team in a professional engagement one of several ways according to the nature of the consulting project: monthly retainer, fixed project fee, or daily rate. Since each client company or firm is unique with its own set of issues and opportunities, we often begin our relationship with a Decision Mapping engagement. This identifies the problems, opportunities, and issues most relevant, and serves to clarify the decision agenda. We believe this is a crucial step to ensure as consultants to your company, that an expert, professional engagement meets your specific management requirements. Further, Decision Mapping saves both time and money as it sharpens focus as to the exact work which needs to be accomplished in our remaining consulting or market research work for your company.
Experts in Marketing Strategy As experts and specialists in marketing and market research, we are well qualified in these strategy arenas:
positioning, segmentation, advertising strategy, corporate and product naming, company branding, brand name development, naming research, brand equity measurement, pricing, sales systems and research, product development, brand development, brand strategy, product concept testing, identifying opportunities, positioning, customer satisfaction research and customer loyalty building.
Functional Marketing Research Experience Our consulting company has deep experience working with large and small firms, although typical clients include Fortune 500, Fortune 100, or middle market companies. Our team members have been involved as executives and board members of technology venture start-ups, conducting research and assessments used by venture funds, and venture capital firms.
Industry Consulting and Market Research Experience First, we are not industry specialists or experts. Our philosophy is that we bring a tool kit of analytical and management skills to the table. You bring deep industry knowledge of your business. The blending of our functional and management expertise, and your knowledge of your own business and industry, makes for a productive decision-focused engagement.
Services Example:
Customer satisfaction research is a path to building customer loyalty in both consumer and B2B business markets. Our customer satisfaction research survey approach -- with two core components -- is focused on understanding and building customer loyalty.
An actionable and action oriented approach, our customer satisfaction research engagements help build customer loyalty, market share and competitive advantage.
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