What is the major difference between quantitative and qualitative research techniques?
One of the key aims of qualitative research is to gain preliminary insights into decision problems and opportunities. This approach of data collection focuses on collection of data from a comparatively small number of respondents by asking questions and observing behaviour. In qualitative research most questions are open-ended in nature. Benefits of qualitative methods include: timely and economic data collection; rich data; accuracy of recording market behaviour and preliminary insights. Conversely, disadvantages of qualitative methods comprise: lack of generalizability, validity and reliability.
Quantitative research methods, seek to quantify the data and characteristically apply some statistical analysis. They put heavy emphasize on using formalised standard questions and predetermined response options in questionnaires or surveys administered to large number of respondents. Today, quantitative research is generally associated with experiments and surveys and is still considered the mainstay of research industry for collecting marketing data.