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Report on Qualitative and Quantitative Research

   

Added on  2020-05-11

10 Pages2776 Words44 Views
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Running Head: Market researchMarket ResearchReliability, Validity and Generalizability
Report on Qualitative and Quantitative Research_1

Market research1ContentsIntroduction......................................................................................................................................1Validity............................................................................................................................................2Reliability........................................................................................................................................3Generalizability................................................................................................................................4Threats to validity, reliability and generalizability..........................................................................5Conclusion.......................................................................................................................................5References........................................................................................................................................6
Report on Qualitative and Quantitative Research_2

Market research2IntroductionBusiness and management research involves the procedure of gathering information about various aspects of a business including but not limited to customer feedbacks, industrial forecast,financial details, competitors and market size (McQuarrie, 2015). The research conducted can be qualitative or quantitative. The latter results in numerical conclusions while the former generates non numerical data. Market research is an important aspect of every business and ensures that themanager has sufficient knowledge about the product, industry and the market. Various business heads invest heavily in market research in order to get a real picture of the market and its’ customers (Sarstedt, 2014). In the era of cut throat competition, it becomes imperative that the quality of research done is impeccable. Business researches are required to be conducted at every step of the business. Before starting the business, a thorough understanding of target market, their needs and demandsand competitor analysis remains crucial (Nunan, 2013). After the business has been established, market researchers must be strictly on their toes to come up with innovative products and services after studying the changing customer needs. Case studies, surveys, focus groups, interviews are predominant methods used to conduct business researched. Irrespective of the method used, the quality and level of detail are critical to the research (Bryman, 2015). Given the varied diversity of subject and different forms of qualitative research, it is difficult to put a finger on one best way for assessing any research. Therefore, it has been consigned that any business research must be reliable, general and valid (Hair, 2015). These three parameters are most crucial to any research. This report throws light onthese three attributes of qualitative and quantitative research (Zikmund, 2013). Business examples have been cited to understand the practicality of the same.
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