What is a qualitative market research?
Qualitative market research concerns a specific type of market research in which results are analyzed by subjective measures, words and discussions, unlike statistical analysis. This type of research can provide a different type of insight into the market opinion than quantitative research in which numerical statistics are collected and analyzed. Qualitative market research generally includes smaller groups of individuals and/or more expensive to perform and analyze than quantitative research.
market research concerns the process of studying and analysis of the market. Companies often perform this type of research either to test advertising or product response, or to determine whether potential customers would be interested in the product offer. Focus groups that test new films and television shows are one examples of market research, as well as online surveys in which people report their interest in the product or around the product experience.
Themarket research can be carried out in one of the two ways: quantitative data can be collected and analyzed or quality data can be collected and analyzed. Quantitative data are usually easier to obtain and manage; The process of obtaining data and the process of determining what the data means is relatively simple. Quantitative data may include looking at the number of people who have purchased the product. It may also include the request of customers or those who have been examined to provide numerical answers such as the product rating on a scale of one to ten.
Qualitative research, on the other hand, includes a different type of data collection. For example, customers may be asked to provide written answers to a questionnaire or to give an explanation of how the product is to feel or their experience with it. Customers can also be observed by the product interaction. For example, a focus group can be asked to trackTV show while sitting in front of a two -way mirror; Observers can watch their reaction to the show. The same focus group can also be asked to discuss and talk about their feelings for the show.
All this data from a qualitative market research must then be explored and analyzed to find out what it means. Determination of importance and opinion on the market from such a qualitative market research is more difficult than simply performing a statistical analysis of how many people reacted by a numeric evaluation. In general, social scientists or other experts will analyze data conducted in a quality market research to get an idea of the sentiment or market attitude towards the subject.