Nowadays, the entire world is shifting towards digitalization & always try to adopt the new way of technologies to be competitive in the market. In today’s digital age, the success of every organization truly relies on online presence of organizations, data & statistics, research & implementation. Without these factors organizations are unable to make business decisions, here market research plays an important role.
Market research is broad term in nature as the market research works on various modules & methodology according to business requirements & type. One of the most effective & efficient ways of market research is Qualitative Market research works open ended questions theory also called conversation based research.
Qualitative Market research or conversation based research relies & actively engaged with focus groups, in-depth interviews, pre-structured questions and other innovative research methods including online platforms,etc. Qualitative research targets a small size of groups which allows cost saving where, pre-defined questionnaire allows free and in-depth discussion and analysis of topics or individual product & services. Usually, the discussion is moderated by an interviewer or market researcher.
Qualitative market research is a relatively less expensive method than others which helps understand two men's aspects – “what” the respondents or interviewer think and feel about a certain topic and “why” they think and feel that way.
In short Quantitative Market research involves any research conducted using observation and questioning. It helps to determine the customer's behaviour towards the product through close observation. myMRPlace is a global marketplace for the market research industry. We aim to simplify market research outsourcing from both buyers to provide them with the best quantitative research companies.
