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Summary
This study explores the potential of large language models (LLMs) to revolutionize marketing research. By partnering with a Fortune 500 food company, the authors replicated qualitative and quantitative studies using GPT-4. The findings indicate that LLMs can effectively generate synthetic respondents, moderate in-depth interviews and perform data analysis tasks, matching or even surpassing human performance in certain aspects.
The study highlights the benefits of a Human-LLM hybrid approach, where LLMs assist in various stages of the research process, from study design to data analysis. This approach not only enhances efficiency but also uncovers new insights that might be overlooked by human researchers alone.
