How do exploratory descriptive and casual studies differ from each other? how do these differences influence their utility at the different stages of marketing decision making?( please answer in 200 to 250 words)
An exploratory descriptive study is an approach that incorporates the use of qualitative analyses, case studies, surveys, information obtained from other studies, observation, and panels. Causal studies on the other hand employ experiments. The main objective of exploratory descriptive study is to ascertain ideas and insights while recounting market aspects and functions. Causal study aims at determining the cause-effect relationships in the study being conducted.
With regards to their utility features, exploratory descriptive research is adaptable, flexible, and “the front end of total research design”. Moreover, it is discernible by previous formulation of detailed hypotheses from studies, as well as observations. When it comes to decision making, exploratory descriptive study is a significant part of business or marketing strategy. This study defines attitudes, opinions, or behaviors by a particular group of people on a certain subject. It has to be well-structured and pre-planned. On the other hand, causal studies apply one or more independent variables. For example, instead of asking individuals whether they would love to buy their cornflakes in its new box, it would be easier setting up an experiment in two stores. One store will sell cornflakes on its original box, and another on a new box. Depending on what the buyers would go for, marketing decision would be made.