qualitative and quantitative data Flashcards
define qualitative data
data gathered based on consumers thoughts and data
give examples for qualitative data
interviews
focus groups
define quantitative data
gathering data and measuring responses
give examples of quantitative data
surveys
questionnaires
loyalty cards
list benefits of qualitative data
essential for product development
highlight issues
tests elements of marketing mix
list drawbacks of qualitative data
expensive to collect and analyse - requires specialist skills
based around opinions - risky
list benefits of quantitative data
data easy to analyse
insight into relevant trends
comparable with data from other sources
list drawbacks of quantitative data
focuses on data rather than explanation
lacks reliability if sample size and method is invalid
explain sampling
chosen group of subjects from a larger group for investigation
define random sampling
sample selected for study where individuals chosen by chance and have equal chance of selection
define quota sampling
population segmented into subgroups, judgment is made in selecting respondents that are representatives
define stratified sampling
population segmented into subgroups, respondents randomly selected from within subgroup
what is the value of sampling dependent upon
how sample techniques are used
how it was carried out
size of sample
what is the size of the sample dependent upon
budget availability
importance of accuracy
degree of confidence in results
list benefits of sampling
can provide useful research insights
can reduce risk and costs
flexible and quick
