What is qualitative research in marketing and how does it differ from quantitative research.
Market research is essential when you are in the process of launching a product, a new marketing strategy, or starting a business. They are also crucial in many other scenarios, such as monitoring the results of an advertising campaign and reputation.
In order for everything to go smoothly, and for the survey to be truly useful for the company (leading it down the right path), it is essential to conduct qualitative research (but without neglecting quantitative research).
But what is qualitative research that so many people are talking about and what are the differences with quantitative research ?
Today we are going to answer these very questions, so that by the end of the article you will have a clear idea about it.
Remember that we are always available for information and advice regarding our actionable market research! Contact us now!
Qualitative market research: what is it?
First let’s start with the definition of market research, which the American Marketing Association (AMA) defines as, “The systematic collection, recording, and analysis of data concerning problems related to the market for goods and services.”
More simply, market research is in-depth surveys that allow us to learn essential information about a specific market.
Such information enables companies to make wise and correct business decisions in order to plan marketing strategies and identify goals aimed at brand welfare.
Amarket survey answers questions about the target market (and related trends), target customers, competitors, and the company itself for which the research is being done.
In general, it helps companies improve and grow, avoiding the waste of resources and mistakes that are counterproductive to business.
We can conduct market research using a variety of methods; of these, the most common are as follows:
- qualitative research
- quantitative research
Qualitative market research, also called exploratory research, focuses on human feelings, actions and emotions.
During qualitative research, we try to deeply understand the reasons why people make a choice, an action (e.g. buy a certain product, prefer one service over another, use a specific social channel…).
We focus on the cultural context that target customers are part of, what they experience every day, so that we have a deep understanding of consumers.
Through qualitative research, we understand why of target consumers’ behavior, not just what consumers do.
Read also: The quantitative and qualitative analysis phase in social media listening
Why is qualitative market research very important for your company?
A qualitative market survey helps us intuit what a company must focus on for a marketing and business strategy to be successful.
Knowing your target customers better and the reasons why they make certain choices means that you can get closer and closer to potential buyers, communicate better with them (using the right methods and channels), and offer products or services that they are sure to appreciate.
But how does qualitative research take place?
The most classic methods are focus groups, surveys, and closed- and/or open-ended interviews.
Here, these are the methods that we at CMI do not use, because they might give us approximate, biased, unreliable results.
What we do during our market analysis is to go and intercept a multitude of authentic, spontaneous information from thousands (or hundreds of thousands, as the case may be) of people.
Specifically, through the skillful use of web listening software, we collect a large amount of data regarding your target customers, your brand, and competitors’ brands.
Such data are nothing more than the expression of what people express on the web and social media.
From this information we investigate, again through the use of powerful tools, about why your target clientele’s behavior is the way it is.
You got it right: we start from quantitative research and then move on to qualitative research.
What is quantitative research in marketing and how does it differ from qualitative?
The quantitative type of research refers to studies that aim at the statistical measurement of data concerning a large multitude of people (in our case we are not talking about statistical sample, click here to find out why).
Again, the classic methods of finding information are surveys and interviews… While our method, which is extremely more precise, consists ofintercepting public Big Data online.
The quantitative survey focuses on the “what.” For example, it allows us to know:
- the habits of the market,
- consumption parameters,
- The preferences of a company’s target customers,
- The performance of a competitor’s marketing campaign etc.
Usually our market research starts with quantitative analysis and then moves on to qualitative analysis of the data intercepted on the web.
In this way we can present client companies not only with a comprehensive report with the answer to their questions, but also with the reasons why we got precisely those results.
Read also: Statistical sample used in market research: here’s why it is now obsolete
In conclusion
How many times have you started an advertising campaign, launched a product, studied a marketing strategy that then did not have the desired outcomes?
Yet you had commissioned in-depth, qualitative research with focus groups, interviews, and surveys directed precisely at your target customers.
The reason for failure is simple: using traditional market research such as surveys or focus groups does not yield exact results to make successful decisions because the data obtained are inaccurate and fail to uncover the real needs of consumers.
To conduct qualitative market research that is truly useful for companies, it is necessary to start with a quantitative analysis that includes intercepting information left spontaneously by people on the Web.
Would you like more information about our quantitative and qualitative method and research?
Then contact us now : we are at your disposal, curious to find out what we can do for you and your business!
