Market research is an invaluable practice that is used in a wide range of businesses to discover vital insights. Whether you are looking to open an ice cream store or better understand why you are not outperforming your online competitors, marketing research can help. However, to get the most out of your market research, it is important that you are aware of the different methods available. Qualitative market research is a specific type of market research that can prove instrumental when it is utilized in the right situations.
What is Qualitative Market Research?
Qualitative market research is a technique that is used to collect data from a target audience. This data can then be further analyzed using mathematical methods to gather more information about your chosen subject matter. Qualitative market research is different from quantitative research, as the last uses a wide range of methods like interviews, ethnographic research, and case studies to find out information.
Qualitative market research focuses on qualitative data, although this does not have to be in the form of a definite answer. For example, attitudes and perceptions can also be used in the process of qualitative market research as long as they are appropriately utilized in the later stages.
When Might You Use Qualitative Market Research?
Qualitative market research plays a vital role in many different types of industry. Healthcare qualitative market research is a vital tool that is used in everything from designing hospitals to improving treatment plans. Businesses use qualitative market research to learn more about what their target audience wants or where the market is heading. From healthcare to business, qualitative market research can be utilized to uncover invaluable market insights.
The main benefit of using qualitative market research is that it provides you with insights in a qualitative format. Whether you are looking to answer a hypothesis or investigate a numerical change, you can apply qualitative market research techniques. Your findings can be used to uncover invaluable data on topics like customer behavior, motivations for repurchase, or market trends.
What Techniques are Used in Qualitative Market Research?
The most common methods used when conducting qualitative market research include:
Traditionally surveys would be paper-based, but they are more commonly performed online now. You will want to focus your surveys on close-ended questions as they are the most effective type of question for gathering qualitative data. Two main forms of surveys are used when conducting qualitative market research, they are the cross-sectional research survey and the longitudinal research survey.
In addition to surveys, face-to-face interviews are another popular method for collecting qualitative data, and the two techniques are often used in conjunction with each other. The benefits of in-person interviews are that the interviewer is able to form a relationship with the person being interviewed, connecting on a personal level which often reveals more meaningful answers. An in-person interview also makes it possible to clear up any confusion over the interviewee’s responses.
Online or phone interviews have also become a very popular choice, especially in the last year. The advantage of this form of interview is that it allows you to connect with individuals from all over the world. Artificial intelligence is also being used to increase the efficiency of market research interviews, by organize and collecting all relevant data.
This content is a joint venture between our publication and our partner. We do not endorse any product or service in the article.