3 Types of Qualitative Market Research

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• 3 Types of Qualitative Market Research

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• Depending on your industry and goals, qualitative
  market research can prove to be an attractive and
  fruitful way of capturing key insights. In its
  true essence, descriptive qualitative research
  can help companies come up with new product
  concepts, while simultaneously helping explain
  social change in terms of how consumers behave.
  While there are different types of qualitative
  research methods, not all variations are
  beneficial for every type of business or
  objective. Today, we will discuss the top 3 types
  of qualitative research methods that you can
  adopt for more productivity and business
  profitability.

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What is qualitative market research?

• Before we talk about the different types of
  qualitative research methods, it is important to
  understand what qualitative market research is
  all about and how you can use different types of
  qualitative research methodologies to your
  advantage. In short, qualitative market research
  comprise open-ended questions (mostly
  conversational) that rely on a small but highly
  validated sample size. The average sample size
  for qualitative market research generally tends
  to consist of anywhere between 6 and 10
  respondents. This small size of participants
  ensures cost savings for qualitative research
  firms. Additionally, open-ended questions allow
  the free flow of information and in-depth
  discussion and analysis of given topics.

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Different types of qualitative research methods

• Here are the 3 most common types of qualitative
  research methods that you can incorporate into
  your market research mix
• 1. In Home Use Testing iHUTs
• In Home Usage Test is one of the most functional
  and cost-effective market research techniques to
  test your product with actual customers before
  launching it in the market. Participants are
  given a selection of items to use at home. A
  follow-up telephone poll, online survey, or even
  an in-person interview is used to collect their
  inputs. As the responder gets to use the product
  while providing the client with in-depth input on
  what potential customers will think after the
  product reaches the market, this methodology is
  particularly interesting, engaging, and highly
  insightful.2. Focus Group Discussions
• As you can guess from the name, a focus group
  generally comprises anywhere between 6-10
  participants that are brought together to discuss
  a particular matter. It can be a discussion
  regarding a product or service and its market
  strategies. In most scenarios, focus groups
  consist of experts in a particular field
  regarding which the research initiative is being
  conducted. Focus groups feature a moderator who
  stimulates the discussion among the members to
  derive their opinions. These opinions are
  extremely valuable, as they can help shape an
  organizations future RD and marketing
  strategies.

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• 3. Online Bulletin Boards
• When it comes to qualitative market research, an
  online bulletin board happens to be one of the
  most engaging types of qualitative research
  methods to get the best answers to questions
  linked to your study. To encourage data
  generation through interactive discussions
  between participants and moderators, this
  qualitative data collection method entails
  assembling a virtual assembly. A market research
  online bulletin board functions much like a
  personal forum. Users can log in, view postings,
  respond to inquiries, share comments, and post
  their own information on the online tool or
  discussion thread. Additionally, a moderator is
  present to keep an eye on the conversation, weigh
  in when appropriate, and ask new or follow-up
  questions.

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Final word

• Qualitative market research can open up new
  insights and opportunities as far as business
  development is concerned. In todays dynamic and
  agile business environment, it always pays off to
  employ the right types of qualitative market
  research methodologies to meet stated objectives.
  Simultaneously, you need the best market research
  company by your side to ensure that your efforts
  are successful. When looking to partner with a
  reputable firm that offers proven market research
  services, look no further than Unimrkt Research.
  We integrate advanced technology into our
  research methods to bring the best results. We
  offer quantitative and qualitative market
  research services for different industries on a
  global scale in a variety of languages. To know
  more about the best market research services,
  call 91-124-424-5210 or fill out our contact
  form.