A debate exists among marketing researchers over the use of research techniques. Some researchers believe that the only way to understand consumers and products is to utilize qualitative research. Critics of qualitative research, however, disapprove of methods such as marketing focus groups or in-depth interviews. These critics contend that qualitative research is prone to bias because of small sample size and the subjectivity of qualitative approaches and, therefore, prefer quantitative research methods. Those researchers preferring quantitative research methods point to the use of large sample sizes and rigorous statistical approaches that exemplify the quantitative method and imply greater generalization. Although qualitative and quantitative research methods are traditional forms of gathering data, many marketers are using digital marketing as a means for capturing Big Data, categorizing the data, determining relevant data needed and analyzing the data to make significant decisions.
To prepare for this Discussion, read the weekly learning resources.
By Day 3
Post an evaluation of the role of market research in developing competitive advantage. In your evaluation, answer the following questions:
- What are the key elements of market research?
- What are the advantages and disadvantages of market research?
- How will digital marketing affect market research methods?
- How can the various marketing research approaches be used to develop competitive advantage?
Support your work with a minimum of two specific citations from this week’s Learning Resources and one or more additional scholarly sources.