To better understand your market/product/stance, start broadly with qualitative research, then refine with quantitative research.
Start with Qualitative research to ask “who, what and how” questions: What are the problems? Who has them? In what context? How are they currently resolved? What is the buying process/experience? What might be better? Etc.
- Focus Groups
- Win/Loss feedback
- Site visits/ shadowing
- Shopping studies
Follow with Quantitative research to answer “how many” questions: How many prospects have each particular problem? How are they segmented? How often does the problem occur? How much is spent/ how much would a solution be worth? How much market share? Etc.
- Purchase data
- Usage data
Qualitative research teaches you what you don’t know and establishes the issues in play.
Quantitative research refines that learning and provides the data needed to make decisions.