This question has already been answered, but I thought I would add a more detailed answer.
The documentation states that "for each component, you can specify one script that prepares the operations to be performed by the installer."
The Qt installer framework QtIFW comes with a set of examples, one of which is called modifyextract. Using this, I modified my package.xml file to include the line
<Script>installscript.qs</Script>
I then added a file installscript.qs to my package meta directory with the following content
function Component()
{
}
Component.prototype.createOperationsForArchive = function(archive)
{
// don't use the default operation
// component.createOperationsForArchive(archive);
// add an extract operation with a modified path
component.addOperation("Extract", archive, "@TargetDir@/SubDirectoryName");
}
The files in the package data folder were then installed in the subfolder SubDirectoryName