Consumer Behavior
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Bank and Credit Union Marketing in 2021: Tips, Ideas, & Techniques to Use Right Now
Posted at: 7/15/2021 12:30 PM
The promise of returning to a pre-COVID world is becoming less likely by the day. Nearly every industry had to transform its business model to succeed in a digital world. Bank and credit unions were and are no exception. In fact, the financial sector is at the forefront of innovation, leaving permanent fingerprints on how they promote and deliver banking experiences for years to come. As a result, it's time to adapt bank and credit union marketing strategies to these new trends and techniqu
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6 CPG Market Research Options for Excellent Consumer Insights
Posted at: 6/10/2021 6:17 PM
With a plethora of products to choose from on a shelf or website, it is key to understand how consumers will make their decision. This is where consumer packaged goods (CPG) market research makes all the difference. From what colors are most attractive to what type of sales are most enticing to buyers, market research provides CPG brands with valuable insights that set products apart from competitors. In this blog post, Drive Research will discuss 6 types of CPG market research. These method
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Revenge Spending: 7 Statistics That Prove Changing Shopping Trends Among Consumers
Posted at: 6/9/2021 12:30 PM
With most state guidelines lifting mask mandates and COVID-19 restrictions, consumers are eager to get back to life before the pandemic. This of course includes shopping. Many Americans spent quarantine saving more money than ever before. However, now that quarantine is over many are choosing to use that money for something other than loungewear. Recently, the term “revenge spending” has been coined to define shoppers using money to make up for the lost time. Is revenge shopping real? Our m
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Brand Awareness Trackers: How to Measure Brand Recognition Over Time
Posted at: 6/4/2021 12:30 PM
This blog post covers what brand awareness trackers are, what the objectives and approach might be, and the results you can expect to receive. Pop quiz! Do you know what percent of your target audience is aware of your brand, products, or services? It's okay, not many people do. After all, this metric can look like a stock’s value on Wall Street that constantly rises and falls for most brands. However, it’s still critical to measure the awareness of your brand- especially at regular interva
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Brand Health Tracker Surveys: How to Create a Baseline for Awareness and Interest
Posted at: 5/27/2021 12:30 PM
Building awareness for consumer products viewed as commodities can be a challenge. As a result, many businesses rely on brand health tracker surveys to accurately measure buyer awareness, perception, and likelihood to purchase. For example, fresh fruit has very few household brand names that your average consumer would be able to recall top-of-mind. If you’re trying to grow your brand in this space, what is your best option? You always have to start somewhere, so our market research compan
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Eye-Tracking Market Research: How to Execute a Successful Shelf Testing Study
Posted at: 3/22/2021 12:30 PM
Today, shelf testing studies used to test the appeal of packaging design in real-time (either virtually or in-person) to get customer’s opinions. As a result, more and more brands are leveraging eye-tracking market research. Why? The use of eye-tracking in conjunction with other biometric devices provides an objective measure of product packaging performance. In this blog post, our CPG market research company discusses how eye-tracking works, tips for designing a proper shelf test with eye-tr
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4 Best Metrics To Measure Brand Loyalty with Market Research
Posted at: 3/4/2021 1:30 PM
Brand loyalty is critical for the success of any company. Scratch that, it’s imperative. Brand loyalty (not to be confused with customer loyalty, which is a separate concept but equally as important) ensures the future return of customers time and time again. With customers that are loyal to your brand, you won’t have to waste time with expensive marketing or promotional campaigns. Instead, you can focus your precious time on building out your brand to attract even more long-term customers.
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What are Market and Customer Profiling Surveys?
Posted at: 3/2/2021 1:30 PM
When it comes to our customers, businesses are often left wondering about key aspects of their demographics, buying behaviors, pain points, and more. Can you confidently answer simple questions such as: Who are your customers? Who aren’t your customers? What makes your customers different from non-customers? If not, it is time your company conducts market and customer profiling surveys. Luckily, the name does a great job at describing what this type of survey is, but there is a lot more
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Long-Term Impact of COVID-19: New Survey Shows How Perceptions Have Changed Since April
Posted at: 12/18/2020 1:30 PM
As we approach the end of 2020, we are still living in what seems to be a never-ending pandemic. There is no doubt that consumer behavior has changed as a result of COVID-19, but our market research company wanted to better understand if consumer perceptions have changed for better or for worse since April. In April of 2020, Drive Research conducted an online survey about the COVID-19 pandemic. We measured how Coronavirus shifted consumer perceptions, attitudes, concerns, and purchasing beha
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How Many People Plan to Get the COVID-19 Vaccine? New Survey Reveals 1 in 2 Americans
Posted at: 12/17/2020 9:32 PM
On December 14, 2020, Sandra Lindsay was the first to receive the COVID-19 vaccine outside a clinical trial. As the week went on more and more healthcare professionals across the country were vaccinated in hopes of stopping the spread. This begs the question, as the injection becomes readily available in the coming months, how many people plan to get the COVID-19 vaccine? Our market research company conducted a survey with over 1,000 United States residents to measure the level of concern w
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Consumer Surveys: Definition, Process, and Sample Questions
Posted at: 11/23/2020 9:17 PM
Wondering what consumer surveys are? The truth is, this a broad term that can refer to testing a variety of topics such as: Unaided awareness Aided awareness Perception Price Purchase history In this blog post, our consumer research company will dive into the details of this methodology. We will review the definition, process, sample questions, and a case study for consumer research surveys. If you are looking to conduct a consumer survey with a market research company, Drive Research is
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7 Psychological Strategies to Influence Consumer Spending
Posted at: 11/19/2020 2:10 PM
Psychology is not typically top of mind when people think about marketing and advertising, but the truth is, successful marketing includes an essential psychological component. Market research involves systematically gathering data and then analyzing the data, with the objective of gaining knowledge about a company’s ideal customer and target market wants, needs, and preferences. In other words, it defines psychological strategies to influence consumer spending. Understanding persuasive strate