{"id":36671,"date":"2020-10-16T13:24:57","date_gmt":"2020-10-16T12:24:57","guid":{"rendered":"https:\/\/idsurvey.fluidhub.it\/quantitative-market-research-still-effective\/"},"modified":"2024-07-22T09:39:10","modified_gmt":"2024-07-22T08:39:10","slug":"quantitative-market-research-still-effective","status":"publish","type":"post","link":"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/","title":{"rendered":"Quantitative market research: still effective?"},"content":{"rendered":"<p>There are two schools of thought on market research: those who consider quantitative market research valid and those who consider it outdated.<\/p>\n<p>Some quantitative market research techniques are about to fail without a doubt. That\u2019s because\u00a0<strong>consumers have deeply changed the way they purchase and markets are now extremely fast.\u00a0<\/strong>So quantitative research methods that can\u2019t keep up will possibly disappear in the next future.<\/p>\n<p>&nbsp;<\/p>\n<h2>Quantitative market research: why call it into question<\/h2>\n<p>Traditional quantitative research approach is based on identifying reasons that lead consumers to purchase. Some of the most used methodologies are:<\/p>\n<ul>\n<li><strong>focus group:<\/strong>\u00a0to share and design new marketing plans related to consumers\u2019 behavior<\/li>\n<li><strong>observation:<\/strong>\u00a0to understand customer\u2019s behavior in real-time<\/li>\n<li><strong>ethnographic research:<\/strong>\u00a0to analyze the target audience behavior in location (for example in an office)<\/li>\n<li><strong>phone and face to face interviews<\/strong><\/li>\n<\/ul>\n<p>On one hand these quantitative data can provide information on leading product or service (as they can provide detailed analysis directly related to the target). But on the other hand, they\u2019re extremely\u00a0<strong>expensive and time consuming:<\/strong>\u00a0two characteristics that clashes with market demands.<\/p>\n<p>But<strong>\u00a0it\u2019s not just a matter of costs and time.<\/strong>\u00a0In fact, a lot of these studies revealed how consumers act while purchasing an item and this is an important parameter for our evaluation.<\/p>\n<p>Let\u2019s see now how details matter for market research efficiency.<\/p>\n<p>&nbsp;<\/p>\n<h2>Consumer decides in a quick and irrational way<\/h2>\n<p>In the last 10 years research was able to outline how consumers make a purchase. Daniel Kahneman in his book \u201c<a href=\"https:\/\/www.amazon.com\/Thinking-Fast-Slow-Daniel-Kahneman\/dp\/0374533555\/ref=sr_1_1?ie=UTF8&amp;qid=1466495822&amp;sr=8-1&amp;keywords=Thinking%2C+Fast+and+Slow\" target=\"_blank\" rel=\"noopener noreferrer\">Thinking, Fast and Slow<\/a>\u201d unveils these mechanisms:<\/p>\n<ul>\n<li><strong>System 1 | Fast and subconscious:<\/strong>\u00a0what we use the majority of the times. For example, if we have to buy pasta in supermarket, we don\u2019t spend hours deciding between brands: we decide in a few seconds.<\/li>\n<li><strong>System 2 | Slow and conscious:<\/strong>\u00a0what we use in rare situations for important purchase. Being a demanding system, we rarely use it.<\/li>\n<\/ul>\n<p>Kahneman\u2019s position questions rational consumer thesis which is the ground of traditional research. In fact,\u00a0<strong>it seems that the majority of the time buyers tend to decide in an irrational rather than rational way.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h2>Long interviews influence answers<\/h2>\n<p>Consumer\u2019s irrationality influences market research too. A lot of scientific literature confirms that the more you talk to a person\u00a0<strong>the more you\u2019re able to influence their answers.<\/strong>\u00a0In fact, we make them more aware of the purchase of what they really are, affecting the statistical analysis.<\/p>\n<p>For this reason, methodologies like focus group are now called into question because<strong>\u00a0they force people to move from System 1<\/strong>\u00a0(which is naturally predominant)\u00a0<strong>to System 2.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h2>Contrast short-term memory with \u201cfast\u201d research<\/h2>\n<p>Another key factor for market research is \u201c<strong>short-term memory<\/strong>\u201d. Gerald Zaltman \u2013 professor at Harvard University \u2013 showed how human brain tends to lose information in time unconsciously replacing them with others.<\/p>\n<p>What can marketing learn from this?\u00a0<strong>Market research has to be faster and more effective<\/strong>\u00a0as time passed between a purchase and the interview increases possibility of incorrect data.<\/p>\n<p><a href=\"https:\/\/www.idsurvey.com\/en\/capi-survey-software\/\">Face-to-face research methodology<\/a>\u00a0can be really effective in collecting real-time feedback from the buyer right after their purchase.<\/p>\n<p>&nbsp;<\/p>\n<h2>Conclusion<\/h2>\n<p>In the last 20 years consumer behavior has changed and this change has also shaped market research.<br \/>\nSo what is the best solution for research agencies today? Adopt<strong>\u00a0quick market research techniques<\/strong>\u00a0that are able to take advantage of new technologies (web and mobile) with moderate costs, like\u00a0<a href=\"\/en\/\">IdSurvey survey software<\/a>.<\/p>\n<p>And what about traditional research tool? We think they\u2019re still useful in collecting data if correctly used \u2013 as they still guarantee\u00a0<strong>a deeper understanding of the target.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><del><a href=\"https:\/\/www.idsurvey.com\/en\/demo-request\/\"> Discover IdSurvey for market research. <\/a><\/del><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are two schools of thought on market research: those who consider quantitative market research valid and those who consider it outdated. Some quantitative market research techniques are about to fail without a doubt. That\u2019s because\u00a0consumers have deeply changed the way they purchase and markets are now extremely fast.\u00a0So quantitative research methods that can\u2019t keep [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":36275,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"wl_entities_gutenberg":"","footnotes":""},"categories":[38],"tags":[],"wl_entity_type":[86],"class_list":["post-36671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research-world","wl_entity_type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Quantitative market research: still effective? - IdSurvey<\/title>\n<meta name=\"description\" content=\"Quantitative market research: Traditional research approach is based on identifying reasons that lead consumers to purchase. Is it still effective today?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mauro Ronci\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/\"},\"author\":{\"name\":\"Mauro Ronci\",\"@id\":\"https:\/\/www.idsurvey.com\/en\/#\/schema\/person\/406673de9d1c4610323fb968fb217278\"},\"headline\":\"Quantitative market research: still effective?\",\"datePublished\":\"2020-10-16T12:24:57+00:00\",\"dateModified\":\"2024-07-22T08:39:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/\"},\"wordCount\":611,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.idsurvey.com\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.idsurvey.com\/is-content\/uploads\/2020\/10\/ricerche-di-mercato-tradizionali-sono-ancora-valide.jpg\",\"articleSection\":[\"Research world\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/\",\"url\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/\",\"name\":\"Quantitative market research: still effective? - IdSurvey\",\"isPartOf\":{\"@id\":\"https:\/\/www.idsurvey.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.idsurvey.com\/en\/quantitative-market-research-still-effective\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.idsurvey.com\/is-content\/uploads\/2020\/10\/ricerche-di-mercato-tradizionali-sono-ancora-valide.jpg\",\"datePublished\":\"2020-10-16T12:24:57+00:00\",\"dateModified\":\"2024-07-22T08:39:10+00:00\",\"description\":\"Quantitative market research: Traditional research approach is based on identifying reasons that lead consumers to purchase. 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