Quantitative and qualitative market research: Which is better?

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Question:  We know that you’re a quantitative market researcher.  But we’re hoping you can step back from your personal preference and answer our important question.

We now appreciate the value of market research and wish to provide a budget for a market research program that our newly hired market research director will prepare.  As one of our guidelines to her, we’d like to learn from you what you regard is better between quantitative and qualitative market research.  We’ve read your User-Friendly Marketing Research book.  We appreciate your idea that we should do both according to the research usage purpose we have in mind.

But please help us set our research priorities.  We wish to set our research priorities according to which of the two research projects is better.  Which one is usually more useful?

Quantitative and qualitative market research: Which is better?

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DNA sequencing has been an area of focus of many of the biggest brains in science for multiple decades. The National Institutes of Health, among others, invested billions of dollars in this area of scientific discovery. As a result, the first genome – DNA – has become less mysterious and better understood.

The importance of the second genome, which is the bacteria that each of us has throughout our bodies is less well-publicized, but a growing number of companies have chosen this as a domain of focus as the impact of the microbiome (the term that describes the trillions of bacteria each of us has in and on our bodies) on our health becomes clearer.

Data mining the microbiome toward a cure for diseases

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This post is based on content from the Trade Financing Matters research paper Accelerating Early Payment: Techniques and Approaches for Accelerating Cash in the Supply Chain.

Companies have a range of suppliers, but they typically fall into 3 broad categories:

Exploring How Supplier Segmentation Impacts Payment Terms and The Need for Early Payment