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... research through primary or secondary means in order to accurately estimate the future demand for the product. This helps the firm in taking calculated risks and minimizing the possible chances of failure of the product. Secondly marketing research also helps the firm develop is production strategy. The quantity of the product that would be launched in the first phase largely depends on this research because no other means of demand measurement is available.

The two most important types of research are Quantitative research and qualitative research. These two categories can be further subdivided into primary qualitative research, secondary qualitative research, secondary quantitative research and primary quantitative research. It is impropriate to understand what is meant by the two categories of research in order to fully grasp the concept of research methodology.

Quantitative research is the most result oriented type pf research that focuses more on logic, statistics and facts instead of plain anecdotal data. Both primary and secondary data can be used for this research but in all cases, the entire focus of the research would be on objectivity and hard solid facts. Quantitative research like qualitative research has both its strengths and weaknesses.

Weinreich’s assessment of quantitative research methodology reveals: “The strengths of the quantitative paradigm are that ...

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