Qualitative research is a research strategy used to analyze the reality. When applied to consumer psychology, it allows a deeper knowledge about consumer’s behavior and associated emotions and motivations. Qualitative research goes beyond the description of buyers’ behavior and shows information about how and why that behavior is produced. The purpose of this paper is to demonstrate how qualitative research is relevant for the knowledge and the understanding of consumers’ behavior and how, through its techniques, it approaches the consumer’s socio-cultural reality and provides an interpretation of it. The present paper resumes the key aspects of qualitative research, mentioning its related antecedents of its contributions to the marketing and explaining the four most applied techniques in consumer psychology (interviews, focus group, ethnography and observation); moreover, it also studies the way to carry them out and gives some examples of some of the market issues which it can analyze. Finally, we take up again the qualitative data analysis as one of the most relevant topics because it produces important information for the decision making process related to the consumer. In addition, we explain the steps, strategies, types and technological tools to carry it out.