I need a discussion response post to the below The benefits of soft market resea

Question

I need a discussion response post to the below

The benefits of soft market research through focus groups and observations are understanding consumers’ wants, needs, and opinions on products. According to Gigi Devault (2018), Focus groups are designed to identify the feelings, perceptions, and thinking of consumers about a particular product, service, or solution. The good thing about focus groups in market research is that these groups use qualitative data. For a market researcher, collecting qualitative data helps in answering questions like, who their customers are, what issues or problems they are facing and where do they need to focus their attention so problems or issues are resolved( Adia Bhat, 2018). The focus group and mediator of the focus group can establish the problem with a product by observing the buyers’ opinion of the product. (Adia Bhat, 2018)

   The benefits of hard data on statistics of consumer buying habits and figures on market size are the numbers hard data presents to researchers. According to John Spacey (2017), hard data implies data that is directly measurable, factual and indisputable. Quantitative data is collected to give a numerical value of the number of products sold or number of buyers that want, need, dislike or like a specific product. Soft data would be better when establishing buyers’ perception of products and hard data would be preferred when factual information (quantity) is needed to determine the volume of buyers’ purchases. (Saul McLeod, 2017)

Word Count: 230

Source: https://www.questionpro.com/blog/qualitative-data/

               https://www.thebalancesmb.com/what-is-a-market-research-focus-group-2296907

               https://simplicable.com/new/hard-data-vs-soft-data

               https://simplypsychology.org/qualitative-quantitative.ht

Explanation / Answer

It is indeed true that the soft data helps to understand the product choice by consumer, reasons as to their like or dislike of a particular things, indicates to the company about the changes or modifications that has to be brought in the product.

Soft market research gives the idea about consumer opinions about any particular products, needs of the consumer based on which the company can produce such products or makes modification to the existing one.

Focus groups make use of qualitative data and this is true that by doing so a lot more as to the nature of products and consumer perspective on it can be analyzed easily. It is an approach where by a group of people can be asked a different questions on topics of beliefs, and response towards products, concepts services idea or even marketing strategy.

Focus groups helps us to understand the larger perspective as to when product goes into the market than what would be the response from the consumer side on different subjects like quality, perceptions etc. These groups are made to understand and find feelings, perceptions and thought process of consumer perspective about the products of the company and indicate any possible change, modifications etc.

While hard data such as numerical input as to how many consumers or number of issues etc. which gives only a numerical side of the picture the soft data through these focus groups can really help understand the cause of the products like or dislike or perceptions or possible success, or any changes if at all has to be brought in the product

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