Quantitative Research for Numeric Insights

Quantitative research is a method of collecting and analyzing data that can be quantified. Conducted on a large scale, such as through online surveys or on-site research, it is suitable for verifying challenges and hypotheses.

Quantitative research allows you to understand the actual state of the market and confirm the effectiveness of marketing strategies. It is often conducted when a clear score or final judgment is desired.

Key Points:

• Quantitative research involves collecting numerical data for analysis.
• It is suitable for large-scale research and verifying challenges and hypotheses.

Qualitative Research for Genuine Insights

Qualitative research is conducted to gather real voices rather than numerical data. Through one-on-one in-depth interviews or small group interviews, it explores the underlying needs behind behaviors and emotions.

This type of research is effective for extracting insights during moments such as identifying challenges or forming hypotheses. It is suitable for those who want to hear raw voices and discover genuine reactions from customers.

Key Points:

• Qualitative research focuses on gathering genuine voices.
• It is effective for exploring challenges and hypotheses.
• Challenges include difficulty in setting target audiences.

Choosing Based on Delivery Time and Output

After conducting market research, the delivery time and deliverables vary among research companies. Opting for raw data delivery can be a cost-effective method if quick results are desired.

While dedicating time to the research process tends to yield more thorough investigations and comprehensive deliverables, decisions need to be made regarding the level of detail in the delivery.

Key Points:

• Consider delivery time and the level of detail in deliverables.
• Quick results can be achieved through raw data delivery.
• Thorough research may require more time and costs.

Self-Service or Supported Service

Market research services are categorized as “self-service” or “supported service.” Self-service involves conducting only survey research, offering speed in delivery while keeping costs down. Supported service entails entrusting the entire process to professionals, ensuring convenience at the cost of time and money.

Key Points:

• Self-service involves only survey research.
• Supported service covers the entire research process.
• Choose based on the balance between speed and costs.

Choosing Based on Monitor Quantity and Profile

Selecting the appropriate number and demographics of monitors is crucial for obtaining desired research results. Consider attributes like gender, age group, and occupation to avoid collecting data that cannot be effectively utilized in marketing strategies.

Key Points:

• Monitor quantity and demographics are essential.
• Consider characteristics, lifestyles, and tendencies of the target audience.

Choosing Based on Track Record

Opt for companies with extensive track records that publicly disclose the number of projects and clients they’ve collaborated with. A rich track record indicates measures to address low-quality responses.

Choose a company that collaborates with high-quality respondents to maintain research quality.

Key Points:

• Choose companies with extensive track records.
• Collaborate with high-quality respondents.

Choosing Based on Pricing

While seeking market research on a budget is natural, selecting a company based solely on low costs may not be ideal. Factors like speed of delivery and quality of deliverables are influenced by costs.

Choose a company that can conduct efficient research, minimizing costs while ensuring the research meets your needs.

Key Points:

• Seek a balance between cost and quality.
• Choose a company that offers cost-effective research.

Pros and Cons of Market Research

Market research, essential for new product development and PR, comes with both merits and demerits.

Merits of Market Research

1. Quick Information Gathering:

   • Online methods like net surveys enable efficient creation and collection of questionnaires.
   • Market research companies can quickly gather the right number of monitors, ensuring speed and efficiency.

2. Large-Scale Research Capability:

   • Market research can target monitors nationwide, enabling extensive surveys.
   • Extensive research is feasible, considering different regions, age groups, and preferences.

3. Efficient Product Development:

   • Collecting real voices about product development leads to efficient and informed decisions.
   • Results contribute to branding, promotion, and staying informed about competitors and trends.

Demerits of Market Research

1. Monitor Attribute Bias:

   • Online research may lead to attribute bias without careful company selection.
   • Choose a company that aligns with research objectives and gathers relevant information.

2. Data Reliability Concerns:

   • In online research, some respondents may participate solely for incentives.
   • Choose a company with a strong track record to ensure high-quality answers.

Top  Market Research Companies

Here are five major market research companies:

Cross Marketing Corporation

• Headquarters: Shinjuku, Tokyo
• Specialization: Marketing research, online surveys, group interviews
• Turnaround Time: As short as 2 days for raw data delivery
• Research Fees: Starting from ¥90,000

 Intage Co., Ltd.

• Track Record: Collaborations with major companies like Mannan Life and Kao Corporation
• Specialization: Panel research, providing real shopping data

Rakuten Insight, Inc.

The content continues for companies 3-5.

Reference Article: Understanding the Cost Range of Market Research