Oftentimes, a market researcher will use a two-phased approach that includes both qualitative and quantitative research methods. This allows the researcher to do a “deep dive” into people’s impressions and emotions about a product or service, as well as capture data from a large population that can demonstrate the prevalence of these impressions or emotions.
- Pick a company of your choice. Imagine the company is going to launch a new product. Please post the name of your chosen company and the product it will, theoretically, develop.
- Describe a two-stage research approach using both quantitative and qualitative research methods that you would implement to help your company with developing the new product. For example, would you use a focus group to identify key characteristics and follow up with an online survey to evaluate these characteristics?
- Discuss why you chose the research approach you did and identify how this approach will help with your company’s product development.
Respond to at least two classmates’ postings looking at the company and considering the product or service presented in the posting. Explain why you agree or disagree with the student’s research approach. In either case, supply your classmate with some additional research-related resources that could help flesh out the student’s approach. This might be an additional research test or method, a consideration about sampling, or a link to a specific journal article and explanation of why the article would be useful to the student’s project. Consider the ethical components as well. What more could be considered in this regard in the student’s posting?