Quantitative Market Research Services
Market Research plays a pivotal role in determining the success of many businesses. The importance ranges from estimating the market size, assessing the market share of key competition players, understanding the market potential for a specific product or service and extends up to endless objectives. Applying market research methods and tools will yield measurable results on conducting a market research study.
Using various data acquisition tools and statistical analysis and models, a Quantitative research approach can make this happen. Quantitative market research method is used to estimate the market size, market segmentation, to identify the drivers of brand recall, to understand the consumer usage and attitude, consumer behavior and purchase decisions.
At Arrow Point, we can support your business by offering 360’ comprehensive Quantitative market research services begins with defining your problem and the objective of the study, proposing a workable quantitative research plan, preparing the quantitative research design and instruments, collecting and analyzing the data, visualizing and communicating data through tables, charts and graphs using various advanced proprietary tools.
Our Quantitative Market Research Services
To conduct a market research study, our initial focus is to understand the Client’s need and his objective of conducting the study. Understanding the exact research need of our Clients and their expectations on research outcome enables us to design an efficient research plan using effective methodologies and research tools to collect and analyze data. The below process will explain the general process which we follow in our Quantitative market research studies.
- Defining the Problem : In this step, we take in to account, the purpose of the study with background information along with the information needed which is used in decision making. Thus, usually we will be having an in-person meeting with decision makers of the respective department representing Client’s organization.
- Preparing the Research Plan andDesign : A detailed Research plan will be developed by Arrow Point. Theresearch design is a blueprint framework to conduct a market research studywhich comprises of objective formulation, hypotheses, pragmatic considerations, sample plan and distribution, research questions for various stake holders, description on identification and selection criteria of target consumers or target audience, data collection and field work method and tools required for analysing the data. The research plan will be unique and customized for each research project.
- Field work or Data Collection : Field work or Data collection is one of the most important activitiesin quantitative market research study process. Some of the key important methods for collecting the quantitative data are:
- Face to Face or In-person Interviews- Pen and Paper Interviewing (PAPI) method : Arrow Point holds fully trained and highly qualified interviewers and investigators who are highly capable of acquiring data all kinds of primary research data by conducting in-person / face to face interviews using traditional Pen and Paper Interviewing (PAPI) method with expertrespondents and key opinion leaders from all the sectors. We have a good field network to cover all major critical geographical locations Pan-India and globally geography too.
- Face to Face or In-person Interviews - Computer Assisted Personal Interviewing (CAPI) : Arrow Point provides an alternate option called Computer Assisted Personal Interviewing (CAPI) using Laptops, Tablets and Smart mobile phone devices to replace traditional pen and paper interviewing method for Clients who are looking for quick analysis.Our CAPI program helps the Clients to visualize the data even up to the latest level of acquisition. CAPI can be approached both online and offline models and also an effective option to approach difficult to administrate questionnaires even in complex research studies. However, CAPI will be expensive for studies covering small sample size.
- Secondary Research or Online Research : Researchers at Arrow Point have extensive experience in data mining from various industry sectors and channels using online sources to say web portals, websites and research reportsavailable in public domain, syndicated reports and from all other secondary sources. Our research professionals collect data under various parameters to set in the initial stages of the research study.
- Telephonic Interviews and Computer Assisted Telephonic Interviewing (CATI) : Telephonic interviews is one of the cheaper optionsavailable comparing in-person interviews or field research studies, as we can apply it to cover various set of sample sizes in a research study. Telephonic interviews can be applied for different kind of studies. Arrow Point has another option called Computer Assisted Telephonic Interviewing (CATI) to reach difficult to reach respondents for example- ‘C’ Suite executives and Top management professionals. Comparing traditional Telephonic interviews, CATI would be slightly expensive. However, with the help of computers this method replaces the clip board model and there won’t be a Questionnaire format used similar to in-person field research projects.
- E-mail SurveysandComputer Assisted Web Interviewing (CAWI) : E-mail survey is one of the cost-effective options while collecting data from a large sample size of respondents. The survey campaign will be designed to increase the response rate and can be spread over quickly over a period of time. Arrow Point uses advanced email campaign methods and data collection tools to capture data more precise data from the target group or target audience.Similarly, Computer Assisted Web Interviewing (CAWI) is an internet surveying tool in which the respondent has to follow the script provided by Arrow Point. The Survey Questionnaire programmed to create web interviews. CAWI tool allows us to convey stimulus like concepts, photos, videos and other links to different web pages to the target consumers.
- Information analysis : Arrow Point have several proprietary analytical tools to analyse the data collected through various methods. The collected data will be cleaned and performed with statistical analyses to say ANOVA, Regression analysis, Cross tabulation etc. This helps us to provide findings into various relationships upon the collected data.
- Reporting : Preparing the Report is the final stage of the research process which involves presenting our findings and information using graphs, charts and self-explanatory tables. Our insights and recommendations will be providing the Client to understand deeply towards way forward direction.We strongly believe, it is impossible for a business to operate on gut instinct and moving forward guided with partial market figures alone. Quantitative market research tool can help the businesses to assess factors involved in making strategic business decisions and in a right direction as well.
Customizable Quantitative Market Research Services from Arrow Point :
As the name implies, Quantitative market research methods place an emphasis on the quantity part of a research study as opposed to the quality part. Quantitative marketing research studies usually project results of quantitative market surveys covering the entire marketplace.
At Arrow Point, we strongly believe, every study is unique. We design every Quantitative market research study with a customized approach which includes various appropriate data collection methods with capturing techniques and options that can suit the business goals and that of marketplace.