What Is Qualitative Market Research?
Market Research
The Internet, now-a- days is a very convenient way to conduct market research. It is one of the most flexible and convenient ways to carry out the research. It however requires flexibility and creativity on the part of the researcher to meet the demands and gain results out of the survey. Qualitative market research is important while conducting market research.
Qualitative market research is used in cases where in depth or perceptual data is needed, and where it is less important to draw out generalized results, as is generally done in many large-scale surveys. Since qualitative data can be complex at times and can be analyzed at other levels as well, several other techniques of data collection and analysis have been developed in order to cope up with this, while making the market research reports.
There are numerous market research companies, which have set an example that even small firms can benefit heavily from low cost qualitative market research techniques. Market research helps them in obtaining advantageous marketing strategies, which they can implement. These Market research companies based their main focus on the issue of identifying “customer perceived value”.
It has been seen that often consumers do not use explicit, rational and concrete factors to evaluate and examine the product by market research oriented strategies and thus they do not feel the urge to buy those products.
Generally marketers used projective techniques in qualitative market research group in order outdo this problem. This is not a perfect technique, as every moderator will come in with his own style for discussion and coming to a subjective decision to the interpret the results. It is not practically possible to replicate identity over time.
With the incoming and development of market research firms, companies now prefer to conduct market research, before finally launching the product in the market. This helps them to know the consumer behavior towards their product and helps them to forecast demand once the product is launched in the market.
Market research requires qualitative and quantitative research method, especially if the company is inclined towards believing the market. In the year 1997, approximately $12Bn was spent globally on market research consulting. Of this $4Bn was spent by the US market research firms. This $4Bn was used for qualitative and quantitative research methods.
Therefore it goes without saying that market research is a requisite for almost every company, if it wants to make a firm market standing.
To avail more information on qualitative market research log on to the website: http://www.rncos.com.
RNCOS E-Services Pvt. Ltd. is an industry leader in the field of online business research. We specialize in industry research on various business verticals. To read our market research reports, visit us at our website: - http://www.rncos.com or email us at info@rncos.com.
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