Qualitative Data Analysis for successful Market Research - PowerPoint PPT Presentation

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Qualitative Data Analysis for successful Market Research

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Qualitative market survey is a process that leads to strong customer building relationships that help in understanding why does a customer prefer that one brand over the other and what are the reasons behind it. – PowerPoint PPT presentation

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Title: Qualitative Data Analysis for successful Market Research


1
Qualitative Data Analysis for successful Market
Research
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2
Qualitative Research and its Aspects
  • With myriad market research companies adopting
    business intelligence and ways to win the market,
    only a few are there who excel at not just
    quantitative research but also qualitative
    research.
  • Through an in-depth and laborious process, market
    research is done in 2 ways being the very first
    one as quantitative research and the other as
    qualitative research.
  • However, both of them are screened as somewhat
    similar but are poles apart in real.
  • Quantitative data analysis is a way of getting
    the data and statistics as per the niche of the
    data collection, whereas, qualitative data is a
    market survey done to understand consumer
    behavior at an in-depth level.
  • Qualitative market survey is a process that leads
    to strong customer building relationships that
    help in understanding why does a customer prefer
    that one brand over the other and what are the
    reasons behind it. Is it influence that has to
    lead them to that one brand or the trust of
    quality in that one particular brand.

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3
Qualitative data analysis with its key
differences to success
  • Everything depends on the market analysis after
    data collection, be it the business strategy, a
    major business-making decision or a major
    development and branding.
  • The best solution of qualitative data is the
    customer analytics that after recognition
    produces major turn-ups for making a business
    successful by making sure the analysis helps in
    fulfilling customer requirements.
  • To get the best of qualitative data analytics,
    there are different ways of getting the right
    answers that lead to the exact feelings of
    customers and those are face-to-face interviews,
    group discussions, etc.
  • These ways provide right and proper information
    about the customers thought process regarding a
    brand/product.
  • However, feedback and reviews can also inform on
    the consumer behavior big time.

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4
These are some key factors that strengthen
business growth
  • It tells you clearly and exactly what is making
    the customers like or dislike your
    product/service.
  • It instills a trust system in your customers and
    they become a part of your successful business
    who are always updated on your plans, strategies,
    and changes.
  • What makes them choose and how they choose and
    opt for a particular brand over the other.
  • What is it that the find perfect about a
    business/company and what puts them off from
    them.
  •  
  • Concluding with the importance of qualitative
    data analysis
  • Qualitative data analysis makes it clear as to
    how it is very easy to count numbers but very
    difficult to count experiences. One just cant
    buy a shoe because they know the brand has
    this/that many followers, they will go by the
    user experience.
  • The one thing you look at after going through a
    product online is the reviews and this tells
    everything why qualitative research is crucial
    for customers and for companies/businesses.
  • Dont just count the sales number of followers,
    maintain the relationship to know your customers
    better. Understand consumer behavior,
    preferences, what they like or dislike, what
    makes them confused. So, qualitative data
    analysis is not just important, it is a ladder to
    success that adds a good name and trust to your
    brand.

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5
About
Us
  • High Beam Global is a full service Market
    Research firm, dedicated to delivering quality
    performance by matching the right need with the
    correct solution. We partner with clients in all
    sectors and regions to offer world class data
    collection, reporting and analytics solutions.
  • Our service offerings include multi mode Data
    Collection (both quantitative and qualitative
    techniques), Survey Programming Hosting, Data
    Processing and Analytics. High Beam Global
    combines a client-focused approach with robust
    project management to offer a unique experience
    to its clients. With our rich experience in
    industries like, Healthcare, Information
    Technology and Industrial Products (to name a
    few), High Beam Global helps its clients to
    provide quality insights on targeted and
    potential markets, brand health, consumer
    preferences and other market dynamics.

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