Quantitative Market Research

Quantitative research measures numbers. How many people buy widgets? How satisfied are customers with product X? What factors are most important in buying a widget? What is the market share of Ford Motor Company? So on and so forth.

From Wikipedia we have this:

Quantitative marketing research is the application of quantitative research techniques to the field of marketing. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying agreement on the "four Ps" of marketing: Product, Price, Place (location) and Promotion.

As a social research method, it typically involves the construction of questionnaires and scales. People who respond (respondents) are asked to complete the survey. Marketers use the information so obtained to understand the needs of individuals in the marketplace, and to create strategies and marketing plans.

The topic is important for entrepreneurs because it offers a rich set of analytical tools with which to analyze the entrepeneur's enterprise, and the market, and to understand industry studies and news items regarding business. If you're interested in quantitative research, read the whole article, then follow the links and references. There is a ton of stuff on it.

And post a comment. I'd like to know what you think.

Entrepreneurship informs everything I do. For entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for entrepreneurial writing to www.kearneymusicschoolmurders.blogspot.com.