What is Market Research? Explain the quantitative and qualitative Methodologies of Market Research. 

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Understanding Tourism Markets: Market Research and Methodologies

Market research is a crucial aspect of understanding and thriving in the complex landscape of tourism markets. It involves systematically gathering, analyzing, and interpreting information about a market, including its potential customers, competitors, and the overall industry. This process aids businesses and organizations in making informed decisions, identifying opportunities, and mitigating risks. In the context of tourism, where consumer preferences, trends, and global events play pivotal roles, effective market research becomes paramount.

Quantitative Methodologies:

1. Surveys and Questionnaires:
   - *Objective:* To collect numerical data and statistical information.
   - *Process:* Designing structured surveys or questionnaires and distributing them to a sample population.
   - *Advantages:* Large sample sizes, statistical analysis for generalizations, and numerical data for trend identification.
   - *Limitations:* Limited depth in understanding complex motivations, may not capture nuanced responses.

2. Data Analysis:
   - *Objective:* To analyze large datasets for patterns, trends, and correlations.
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Degree : MASTER DEGREE PROGRAMMES
Course Name : Master of Arts in Tourism Management
Course Code : MTM
Subject Name : Understanding Tourism Markets
Subject Code : MTM 9
Year : 2022