Why your Brand needs a Qualitative Research?

When it comes to qualitative market research, it is about observational and natural examination of the different philosophies which govern the behavior of the customers. The framework and direction of the research is revised at a regular interval in order to gain new information. This allows the researcher to assess subjects and issues in a more detailed and comprehensive manner. The quality of the out of the research conducted is determined by the researcher’s skill s and ability.  It is the job of the Qualitative Market Research Companies to not only determine the thoughts of the people, but at the same time to find out why people think in that way. It is a process through which people are allowed to express their thoughts and opinions so that their feelings towards a specific product can be understood.

It is all about getting in-depth feedback. Group discussions and face to face interviews are the best ways to go about it. The process of Qualitative Market Research comes real handy when someone is planning to design new products or is about to launch marketing campaign. This is a very common methodology which is being used by the companies in order to make sure that their marketing campaigns bring out the best of results.

What are the Reasons for such Research?

When it comes to undertaking any sort of marketing activities, research is one of the most important steps and it includes the following -

•  SWOT Analysis
•  Designing an effective marketing strategy
•  Branding
•  Product Development, and
•  Pricing

Talking about marketing research, the internet plays a very important role. The social media websites and other platforms can be used effectively in order to collect data. They are very useful and reliable mediums when it comes to interacting with people and collecting their feedback and opinions, which are the main outputs of a marketing research.

Marketing Research can also help to improve the quality of the services and products and ensure that the needs and demands of the target audience are being met. For example, if a restaurant is planning to add new items to their dinner menu, in that case they can invite few people and ask them to taste their new items and give a feedback on the quality and the price. These types of exercises can at times be quite costly and might take a considerable amount of time; however they are very useful and have proven to be quite effective when it comes to customer feedback and analysis. The feedback received can be used to modify the services and the products and make them more likeable for the customers.

Before a new product is launched, it is very important it makes sure that the product is being tested by a section of the target audience. There are a couple of important questions which needs to be addressed, here are some of them

•  Is the product easy to use?
•  Does it serve the purpose for what it has been designed?
•  Does it look appealing and attractive?
•  Is the price a right one?

The process of market research is all about getting an idea about what the customers feel on the existing products and those which are about to be launched.

What information can be gained from such Research?

There are different types of useful information which can be derived from an effective market research campaign. Here are some of them

•  What are thoughts and feeling of the customers with regards to the services or products?
•  How do customers make a choice when it comes to selecting a supplier?
•  What motivate the customers to go for a particular supplier?
•  How designing, processing and branding influence the customers
•  What are the different marketing messages which would have the best impact on the customers and what can turn them off?
•  How is customer’s decision making is affected by price?
•  Is there a demand for new services and products?

Successful firms in countries like Singapore and UK rely largely on Qualitative Market Research Companies for their product development.

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What are the Benefits and Components of Qualitative Market Research

Qualitative market research is one of the keys to the success of any product or service. It is through the process of market research the companies get to know about all the different aspects of the market which determines the success or failure of a particular product. When it comes to market research qualitative, it is all about assessing the market with the help of different analytical tool and coming to a logical conclusion. Here the term “market” includes different parties like the dealers, suppliers and most importantly the consumers. Qualitative market research focuses more on the consumers in order to assess their feedback about the product which is being planned to be launched.

When it Market Research Qualitative, it has numerous benefits. The fact that the trend of the market and the prospect of the products and services could be assessed makes it such a useful tool.  Companies from all over the world, especially in the UK and Singapore use these services to great effects.

What are the Benefits of Qualitative Market Research?

Here are some of the benefits which Qualitative Market Research has to offer

•  Subjects and issues which are covered can be analysed in detail and depth
•  When it comes to the interview sessions, they are not limited to any particular questions and can be guided or redirected by the researchers
•  It is possible to revise the framework and direction of the research the moment fresh and new information are available

• When it comes to qualitative research, the data collected depends on the human experience which is more powerful and compelling compared to the data which is gathered using quantitative research

•  Usually, data is gathered from few cases or individuals. As a result the outcomes and findings cannot be distributed among the larger populations; however, as far as the findings are concerned, they can be transferred to other settings.

•  With the help of this kind of research, the researcher knows exactly what he can expect. The results acquired are based on real facts and figures

What are the Components of such Research?

Hands holding a Market Research Word Sphere sign on white background.

When it comes to qualitative market research, it has different components. All these components put together brings out the exact facts and figures which help the companies in the course of decision making. Here are some of the important components of qualitative market research

•  SWOT Analysis: SWOT Analysis is the process which is undertaken by the organisation in order to identify their strength and weaknesses and also to determine the opportunities and the external threats which they might encounter. With the help of SWOT Analysis, the companies can plan for counter strategies. It also allows the companies to set a path of operation which would let them achieve their goals.

•  Marketing Strategy: This is one of the key components which are used when it comes to qualitative market research. Marketing is one of the most important aspects when it comes to determining the success or failure of a product or service. Therefore, it is essential to make sure that there is an effective and well-designed marketing strategy which is in place. Planning a proper marketing strategy is one of the elements of qualitative research

•  Branding: Branding is one of the most important factors that determine the success or failure of any product. These days, branding is as important as advertising and the companies need to make sure that it is being taken care of with due importance. Determining the branding strategies is one of the essential elements when it comes to the qualitative research program

•    Product Development: It is the product that matters the most. Therefore, it is important to make sure that this aspect is being taken care of.

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Services Rendered by the Qualitative Market Research Companies in India

When it comes to market research, it is one of the most important factors, as far launching any new products or services are concerned. The companies need to analyse the prospect of a particular product even before they start the manufacturing process. The idea is to ensure that the planned product would be accepted by the customers and it would contribute towards achieving the bottom line for the company, which is revenue. There have been multiple instances when a product was launched with a bang; however, after a certain period of time, it simply vanished from the market. This is something which is absolutely undesirable. Companies invest a huge amount of many and workforce when it comes to manufacturing a new product along with the promotional and advertising expenses. It all becomes useless if the product or the service fail to sustain in the market for a considerable period of time

When in India, here we have a volatile market which is marked by the open economy. There are multiple manufacturers and suppliers of the same kind of product, therefore, in a country like India, it is necessary to carry out a thorough qualitative research prior launching any product.

What are the Reasons which lead to the failure of any Product or Services?

There can be multiple reasons which are responsible for a setback for the companies when it comes to new products. These are the reasons which form the basis of a qualitative research

• No Demand: A product might fail because there is not enough demand in the market. This is the first important aspect which needs to be taken into consideration during a qualitative research.

• Competitors: If there are multiple competitors on the same line of product, then the chances for the product to fail is quite high. Those companies who have already established themselves in the market would be very difficult to deal with unless the products are much better than that of their in terms of quality. Besides, it requires an extensive marketing mechanism which can be very expensive

• Low Quality: There could be sufficient demand in the market; however, because of the inferior quality, the customers would invariably reject the product. The open market factor comes into play here, where there are many manufacturers and suppliers available. As a result, the customers don’t have to depend on any particular producer.

• Lack of Advertising: Proper advertising forms the basis of success for any product or service. When it comes to a new product, it is very important to make sure that it is being highlighted as much a possible and is being brought to the notice of the target audience. Lack of proper marketing strategy and a bad marketing mechanism would invariably result in the collapse of a product or service; especially one which is newly launched.

• Utility: Customers pay money to yield maximum utility out of a product or service. If they find that their requirements are not met, they would straight away reject it

• Packaging: This is an age where everything needs to be attractive and appealing. The consumer needs to be pursued by the sheer look of the package. A dull packaging can result in the fall of demand

Apart from these, there are various other reasons which contribute towards the failure of a particular product or service.

What are the Services Rendered by the Indian Qualitative Research Companies

 




When it comes to the Top Qualitative Research Company in India, there are many options available. These companies render an array of different types of services, here are some of them

• Customer Feedback: They would carry out extensive surveys and let you know about the feedback received from the targeted audience
• The Motivating Factor: They would let you know what motivates the customers to go for a particular product or service
• Designing and Branding: They would offer you valuable suggestion in terms of branding and designing
• Demand: After carrying out extensive research, they would let you know if there are any demand for the product or service which you are planning for

Besides India, in countries like UK and Singapore, the services of the Qualitative Research are used extensively

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