Final answer:
Quantitative research involves collecting and analyzing numerical data, which is essential for projecting demand and assessing market potential in business and economics.
Step-by-step explanation:
The type of research that involves studies projecting demand, as well as international market potential studies, is primarily quantitative research. This form of research employs statistical and mathematical tools to gather and analyze data that can be quantified. It provides specific data that can be replicated in a controlled environment, which is essential for projecting demand and assessing market potential. For answering questions related to market structures and analyzing the effects of changes in exchange rates, quantitative research is frequently preferred because it yields objective, measurable data that can guide business decisions.
When comparing qualitative research and quantitative research, it is important to understand that qualitative research involves collecting non-numerical data, such as opinions and experiences through methods like in-depth interviews, focus groups, and content analysis. On the other hand, quantitative research involves collecting numerical data that can be measured and compared in a statistically valid manner, often through surveys and controlled experiments.
Deciding whether to place more value on qualitative or quantitative research often depends on the topic being studied. Different research questions are better suited to different research approaches. For example, when studying consumer behavior, sociologists may choose a mix of surveys (quantitative) and interviews (qualitative) to get a comprehensive understanding.