Assume you are a new hire at company and your boss is unfami

-Assume you are a new hire at company and your boss is unfamiliar with many marketing research issues. You are asked to provide some guidance for firm decisions. Be concise and only use the space below for each of the four questions below. Bullet points are acceptable

Your boss reads the first sentence of an email newsletter story (in Retailwire) and questions s the value research. Tom Ryan posted 9/3/2015 (“are consumer studies hopelessly biased?”): “Casting doubt on the methodology of many well regarded consumer studies, researchers have found over half of published scientific studies could not be replicated to create the same results as found in the original reports.” Develop a basic defense for conducting quantitative research studies

Solution

Quantitive market research studies uses quantitative research tools to analyse data in the field of marketing.

This type of research is very useful for an organization. A research can be tested for reliability as well as validity. The quantitative market research study helps in identifying the problem at hand, collecting data pertaining to the problem, analysing the data and then coming to a conclusion.

Methods like customer surveys, questionnaires, helps a firm make informed decisions by getting consumer insights in a scientific way. Quantitative market research makes a firm better equipped to do SWOT analysis, prepare market plan, prepare the 4P\'s strategy, prepare new market entry plan etc.