Question

2) Describe in 2-3 paragraphs the key differences (strengths and weaknesses) of Quantitative versus Qualitative research methods as you interview Millennial and Gen Z participants on the impact of Covid

3) Why is conducting Covid research among students so important?

4) Why is the notion of ‘do no harm’ so important when conducting marketing research on topics such as CBD legalization and the use of cannabis in vaping devices?

Answer 1

Answer of question number 2

Both qualitative and quantitative methods of user research play important roles in product development. Data from quantitative research—such as market size, demographics, and user preferences—provides important information for business decisions. Qualitative research provides valuable data for use in the design of a product—including data about user needs, behavior patterns, and use cases. Each of these approaches has strengths and weaknesses, and each can benefit from our combining them with one another. This month, we’ll take a look at these two approaches to user research and discuss how and when to apply them.

Quantitative studies provide data that can be expressed in numbers—thus, their name. Because the data is in a numeric form, we can apply statistical tests in making statements about the data. These include descriptive statistics like the mean, median, and standard deviation, but can also include inferential statistics like t-tests, ANOVAs, or multiple regression correlations (MRC). Statistical analysis lets us derive important facts from research data, including preference trends, differences between groups, and demographics.

Multivariate statistics like the MRC or stepwise correlation regression break the data down even further and determine what factors—such as variances in preferences—we can attribute to differences between specific groups such as age groups. Quantitative studies often employ automated means of collecting data such as surveys, but we can also use other static methods—for example, examining preferences through two-alternative, forced-choice studies or examining error rates and time on task using competitive benchmarks.

Quantitative studies’ great strength is providing data that is descriptive—for example, allowing us to capture a snapshot of a user population—but we encounter difficulties when it comes to their interpretation.

Qualitative research is multimethod in focus, involving an interpretive, naturalistic approach to its subject matter. This means that qualitative researchers study things in their natural settings, attempting to make sense of, or interpret, phenomena in terms of the meanings people bring to them.

An interest in qualitative data came about as the result of the dissatisfaction of some psychologists (e.g., Carl Rogers) with the scientific study of psychologists such as the behaviorists (e.g., Skinner).

Since psychologists study people, the traditional approach to science is not seen as an appropriate way of carrying out research, since it fails to capture the totality of human experience and the essence of what it is to be human. Exploring the experience of participants is known as a phenomenological approach (re: Humanism).

Answer to question 3

The impact on research in progress prior to COVID-19 was rapid, dramatic, and no doubt will be long term. The pandemic curtailed most academic, industry, and government basic science and clinical research, or redirected research to COVID-19. Most clinical trials, except those testing life-saving therapies, have been paused, and most continuing trials are now closed to new enrollment. Ongoing clinical trials have been modified to enable home administration of treatment and virtual monitoring to minimize participant risk of COVID-19 infection, and to avoid diverting healthcare resources from pandemic response. In addition to short- and long-term patient impact, these research disruptions threaten the careers of physician-scientists, many of whom have had to shift efforts from research to patient care. To protect research in progress, as well as physician-scientist careers and the research workforce, ongoing support is critical.

In the long term, it is likely that the pandemic will force reallocation of research dollars at the expense of research areas funded prior to the pandemic. It will be more important than ever for the pediatric research community to engage in discussion and decisions regarding prioritization of funding goals for dedicated pediatric research and meaningful inclusion of children in studies. The recently released 2020 National Institute of Child Health and Development (NICHD) strategic plan that engaged stakeholders, including scientists and patients, to shape the goals of the Institute, will require modification to best chart a path toward restoring normalcy within pediatric science.

Answer to question 4

Primum non nocere is Latin for “First, do no harm.” I’m sure most people are familiar with the age-old phrase. It’s one of the foundations of medical ethics. But how does it apply to accounting marketing professionals?

You don’t have to be in marketing services very long to realize that it’s vitally important for accounting professionals in our industry to apply this idea from our friends in the medical profession to their marketing efforts and goals. Unfortunately, too many CPA firms ignore their marketing strategies for so long, that an honest evaluation of their efforts (or lack of) would fail to satisfy the mandate ofprimum non nocere.

Marketing strategy has long been a foreign subject to most CPAs. True, in recent years, the largest CPA firms have increased their investment in marketing and have prioritized promoting their services. The Big Four have led the way with marketing and advertising. Regional firms have quickly adapted this approach in order to compete with the “big boys” and distance themselves from their local competitors.

But other local firms seem to be stuck in neutral. They might occasionally rev their engine (often manifested in a rapid concentration of internal meetings, committees, and short-term objectives), but all-too-often, they don’t have the car in gear – all that engine revving gets them nowhere. Too many firms don’t know where to start, so they over-analyze before, during, and after as they attempt to put initiatives in place. This over-analysis ends up slowing momentum, and may leave the car stuck on the side of the road.

At Catalyst Group, we are consistent in how we define the role of marketing at a CPA firm. Marketing should create and support opportunities for business development. But at many firms, before marketing efforts can achieve these goals, firms need to stop hurting business development. At too many firms, their marketing efforts actually makes business development more difficult.