Quantitative Research

Custom Designed Quantitative Research

By conducting quantitative research you are investing in your business, product or service offering. A common quantitative research definition in its most basic interpretation would be: “quantitative research makes use of questionnaires and surveys to reach a sample in order to find answers to questions a company has”. More specifically SmartPoint Research designs meaningful and relevant questionnaires and collects information from a group of respondents. Our research analysts interpret the data collected and provide a report that showcases the results in a meaningful format. Marketers can then take the synthesized information obtained and create strategies that will ultimately lead to a more successful and profitable brand or product.

Decisions that can be guided by quantitative research:

Growing market share with current products from existing customers. Customer satisfaction studies are commonly carried out to identify this type of opportunity.
Expansion by taking product range into new markets. Marketing research can help by providing information on the size of the opportunity, the competition and the best route to market. A “new market usage & attitude survey” would provide relevant insights.
Product line extensions. In this case marketing research could explore the needs of customers for the products that are envisioned for the extended portfolio.
Exploring the possibility of selling new products to a new range of customers. Market research plays a vital map of putting speculation into reality by showing a complete map of people’s needs, how they are currently being satisfied or not being met, and the likelihood of buying new products or services along with other relevant information.

A quick glimpse into the quantitative research process:

Determine research objectives. What business questions do we want answered?
Define the target market. Who do we want to survey? What is an appropriate sample size?
Write the first draft questionnaire. What questions will give us optimum results?
Assess the draft questionnaire, tweak and write a final questionnaire. Are the questions clear and optimized?
Program the questionnaire.
Launch the survey to the pre-selected audience and collect the data.
Analyze the results.
Provide a report to the client.

To find out if a quantitative research study makes sense for your business, please contact us for a free consultation.