What is market research? Why is it important?
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What is market research? Why is it important?

Published by: Rajiv Potdar (3)
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Qualitative insights are just a primary exploratory research conducted. They are used to gain an understanding of the underlying reasons, opinions and motivations. These qualitative researches provide insights into the problem or they help to develop ideas or theories for good research. Qualitative insights are also used to uncover trends in thoughts and opinions and divulge deeper for finding the cause of the problem. Qualitative data collection methods generally differ using unstructured or semi-structured techniques. Some of the most common methods include focus groups, individual interviews and observations. The group of people selected for these are generally small and are selected to fulfill a given quota. The qualitative research is used to explain the results, conduct a market research when the traditional surveys are not available or conducting market research when a more structured research is not possible. Qualitative research is an important step to take when conducting market research. 7 effective qualitative insights methods are: 1. Individual interviews: An individual interview can be conducted over the phone, skype or in person. The idea is to ask the ideal user a series of questions and follow ups for leaning what motivates the customers to buy the product of the specific company. Anyone conducting these interviews should go in with a series of prepared questions they would like the answers to but should not feel obliged to stick to the questions, as an interview can go in any direction, depending on the customers reaction, the interviewer should be able to dig deep to better understand the customers point of view and plights in a way to modify the product to help the customers. 2. Focus groups: Focus groups are mostly conducted in-person. These groups are meant to provide a safe and comfortable environment for their users to talk about and their feelings and thoughts about the product, so the business can make the appropriate changes to the product for better suiting the customer’s requirements. One benefit of qualitative insights through focus groups is that the company can see the reactions of the customers product and get different thoughts and ideas. 3. Observations: Observations mean in-person observation of a shopper towards the product will allow the businessmen to watch how a customer reacts to the products. This will help the company make the changes to the products by utilizing the customers reactions for getting deeper insights during the shopping process or get the feedback on a package design. 4. In-home videos: This method of qualitative insights will help the company understand how their customers use the products at home so they will better understand the problems faced by the customer. 5. Lifestyle understanding: This method will help to get an uninterrupted view into the user’s attitudes and behaviors. This is another important way of getting a candid insight. Listening to the customers conversations will help in understanding the customers perception better.
Rajiv Potdar - About the Author:
About the author: Rajiv Potdar qualitative insights
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