The significance of qualitative research in marketing schemes

Can you help me understand this Marketing question?

INSTRUCTIONS:

Text: Marketing Management (15th Edition) by Philip T. Kotler and Kevin Lane Keller; Publisher: Person; ISBN-10: 0133856461; ISBN-13: 978-0133856460.

APA FORMAT

800 WORDS MINIMUM

2 references

Research paper: This covers papers which report on any type of research undertaken by the author(s). The research may involve the construction or testing of a model or framework, action research, testing of data, market research or surveys, empirical, scientific or clinical research.

Due to the constraints of time and difficulty, each term paper (i.e., research project for this class) is NOT expected to carry out the data collection phase for this class. However, your term paper needs to describe the data collection and data analysis plan when applicable (e.g., an empirical paper usually requires primary data collection and analysis)

I’ve created a summary of what this paper is about. This should help you gather more data about the topic. Here is my summary:

“I will be conducting a theoretical research paper on the significance of qualitative research in marketing schemes. It is important to understand not just what people think, but why they think it in order to successfully market a product or service and maintain a long-term customer base.

There are several topics that I plan on centering my research around. A few include psychographic data, qualitative vs. quantitative, research instruments, popular companies, etc.

Psychographic data is often used in conjunction with demographic data to identify target markets and audiences. However, demographic data, alone, is only of limited use. Further, demographics explain “who” your buyer is, while psychographics explain “why” they buy. With a deeper understanding of consumers’ aspirations, attitudes, and beliefs, marketers can use it to their advantage by tailoring their products or designs for the target audience. This ultimately increases their sales and gives them a competitive edge.

Quantitative research involves structured techniques such as surveys, questionnaires and observations. Qualitative research involves non-structured techniques like in-depth interviews and group discussions. Qualitative and quantitative are fairly different, yet, they make up all of the data that will ever be analyzed and are used complementarily with each other to make sound marketing decisions. However, I believe qualitative data is a bit more significant because this information is more likely to aid in gaining long-term consumers. Qualitative marketing research requires an examination of the philosophies that govern consumer behavior- this examination is often revised as new information is gained.

Companies like Apple have a strong customer base. Apple meets the needs of its consumers consistently with their phone updates and computers.”

I’m not quite sure if I may focus strictly on the qualitative data or if I may broaden the focus. Feel free to broaden the focus if you think it’ll enhance the paper. Add more detailed information and data to support what I stated in my summary.