It is often argued that a qualitative study does not need a conceptual framework but theoretical framework is need. But that is not the case for a quantitative study. So I need clarity.
First, I am not aware of any formal distinction between a "theoretical framework" and a "conceptual framework." Second, for qualitative research that is exploratory in nature, you would not use prior theory, but it is impossible to even ask questions to the participants without having some concepts in mind -- whether than involves a "conceptual framework" is another matter. Finally, quantitative research typically tests hypotheses, which may or may not be part of a formal theoretical framework.
Theoretical framework refers to theory used to support and guide the study. Conceptual framework demonstrates the whole picture and direction of the study. It describes the concepts or variables and the relationship of the variables in the study.
I'm answering your question from perspective of nursing science. Conceptual model is defined as a set of relatively abstract and general concepts that address the phenomena of central interest to the discipline, the propositions that broadly describe those concepts, and the propositions that state relatively abstract and general relations between two or more of the concepts. The synonymous terms for conceptual model were conceptual framework, conceptual system, paradigm, or disciplinary matrix. While theories were defined as one or more relatively concrete and specific concepts that are derived from a conceptual model, the propositions that narrowly describe those concepts, and the propositions that state relatively concrete and specific relations between two or more concepts.
For more information I recommend you to read "The structure of contemporary nursing knowledge," and "Implementing nursing models and theories in practice." (Fawcet, 2005). Also, to understand the linkage between theoretical model and method of your study I recommend to you to read " Substruction: improving the knowledge from theory to model." (Dulock and Holzmer, 1991).
In summary both conceptual and theoretical model will help you to identify constructs and its related concepts to study the phenomenon. Such models or theories will provide the broad view for the concepts that were involved in your studied phenomenon. So it will help you to think about several concepts -the empirical indicators for concepts were factors or variables- that you need to be considered in your study theoretical framework. You will not start from zero such theories or models will help you to build your study theoretical framework.
I mentioned your study theoretical framework because it should be built based on available theories or models. It is not necessary to include all concepts (factors or variables) in your study theoretical framework but you need to justify that why you select those concepts rather than the other?!
Also, sometimes you will find more than one model or theories you need to select the appropriate one to study your problem (phenomenon) or to select the most appropriate concepts within specific theory or model.