Market research

The essence of market research is to gain insight into the market metrics that will enable MM
Inc. to implement its marketing strategies successfully. The two types of study available for MM
Inc are qualitative and quantitative. They both offer different benefits and can be used
collectively or interchangeably depending on the measured metrics.
Quantitative research
As the name suggests, Quantitative research is essential in providing the data in quantities
or numerical form. Therefore, statistical analysis methods such as mean, median, trends,
correlation, and others can be applied. There is software that can help providers further process
qualitative data, such as Statistical Package for Social Sciences (SPSS) provided by tech giant
SPSS. For MM Global, quantitative research can be applied to measure the demographic metrics
of the target population (Dutta & Bhattacharya 2018). In the previous presentation, it had been
proposed that the target market includes youths aged between 13 and 35. Quantitative research
can help identify the frequency at which individuals in that age group change their phones or the
probability that they will buy the same brand at the time of purchase. These statistics can advise
MM Inc’s choice of marketing strategy. The significant advantage of quantitative research is that
it is a more accurate representation of results due to the applicability of various statistical
methods. The quantitative nature of the data ensures that the details of the subjects of the study
are kept anonymous. Statistical data analysis provides that the results can be tabulated into
graphs and tables, making them easy to present and understand (Editorial board 2014). However,
this research may be expensive to carry out, and MM Inc. would have to make a considerable
financial investment when doing the study.
Additionally, all stages of this process require high accuracy and certainty. Since the data is
processed using various statistical methods, inputting the incorrect data may lead MM Inc to
make the wrong conclusions. Any subsequent decisions may not yield accurate results due to
inaccurate data.
Qualitative research
Qualitative research data is carried out to investigate social or behavioral features or most
affected by human interaction. It focuses more on opinions or emotions. Within the target
market, MM Inc. can research psychological factors such as how mobile phones satisfy
emotional needs, the prevalence of connection with other phone brands, or the psychological
factors that affect brand choice. This research can help MM Inc determine how they can
influence the results in the study and position themselves to benefit from customers’ change of
preferences. The advantages of qualitative research are that it allows an in-depth analysis of
attitudes and behaviors. This could help MM Inc in other areas such as product development and
customer satisfaction. The structure and design in qualitative research allow the researcher to
delve into other issues related to the topic under study. As such, MM Inc can benefit from

additional information. The major disadvantage is selecting an adequate sample size.
Generalizability is a significant challenge thus a significant sample size may be required
(Carminati 2018). Since MM Inc is considering going global, it may have to expand its sample
size to include the international market since the local sample size may not accurately represent
the international market. It may also lead to bias which may lead to the study’s results not being
achieved.
MM Inc may need to use both types of research to develop more concrete, robust, and accurate
findings for their marketing strategy.
References
Carminati, L. (2018). Generalizability in Qualitative Research: A Tale of Two Traditions.
Qualitative Health Research, 28(13), 2094–2101.
https://doi.org/10.1177/1049732318788379
Dutta, S., & Bhattacharya, S. (2018). A quantitative approach in market research. International
Journal of Advances in Agriculture Sciences.
https://www.kibanresearchpublications.com/journal/IJAAS/index.php/IJAAS/article/view
/369
Editorial Board. (2014). Marketing Management, 1st Edition (1st ed.). Words of Wisdom, LLC