Market Research Analysis

  • Blog: Conducting a Conjoint Survey [2023 Ultimate Guide]

    Conducting a Conjoint Analysis [2024 Ultimate Guide]

    A conjoint analysis is one of the most effective ways to help a brand determine the best product features, benefits, and price combinations. When measuring the appeal of a new product concept, it can prove challenging to assess the relative value of each benefit properly. Trying to tackle this through a series of closed-ended questions (select one, select all that apply, ranking) coupled with open-ended questions for context can create a muddy story – one that is hard to apply when deciding

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  • Blog: Conducting a Gap Analysis: Tools & Techniques for Market Research

    Conducting a Gap Analysis: Tools & Techniques for Market Research

    Competition is everywhere in business - and staying ahead is crucial. You are likely aware of who your competition is, what they are doing, and how you are different. But, conducting a gap analysis using market research is valuable to identify your strengths, weaknesses, opportunities, and threats (SWOT) for your business and your key competitors. If you can qualify and detail these gaps, even with your organization (differences between expected performance and actual performance), you crea

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  • Market Research Options for Restaurants | 10 Methodologies for the Dining Industry

    8 Restaurant Market Research Options for the Dining Industry

    Whether your restaurant is well-established or merely a concept, market research can be extremely beneficial to its success. In this article, we'll explore a range of effective restaurant market research options tailored specifically for the dining industry. From customer surveys to competitor analysis, we'll delve into essential strategies that empower restaurants to make informed decisions and create exceptional dining experiences. How Restaurants Can Benefit from Market Research As wi

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  • turf-analysis-media-product-research-07132018

    What is TURF Analysis? [With Examples]

    It's not feasible for a business to offer every product, service, and feature that its customers want. Knowing this is a limitation, organizations need to carefully pick and choose which products, services, or features to offer to customers. TURF analysis provides valuable insights for businesses looking to optimize and/or expand product portfolios by identifying the market reach and potential for each combination of products they might offer. What is TURF Analysis? TURF analysis is a commo

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  • Adding Market Research to Your 2021 Budget | Drive Research

    Why Market Research Should be in Your 2024 Budget

    Believe it or not, the new year is right around the corner - and that means it's time to start planning your 2024 budget (if you haven’t already). With every new year comes new objectives, goals, and challenges. How will you choose the right tools to assist your organization in breaking new ground and making it the best year yet? By adding market research to your 2024 budget. In doing so, businesses can be assured they are taking a step in the right direction. Types of market research metho

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  • multivariate analysis market research central new york

    What is Multivariate Analysis? [+Types & Examples]

    Multivariate analysis is like a powerful magnifying glass for data enthusiasts. It's a set of techniques that helps us make sense of complex information by examining multiple variables at once. Imagine you have a basket of fruits with various characteristics like weight, color, and sweetness. Multivariate analysis allows us to unravel how these traits relate to each other, revealing hidden patterns and insights. In this blog post, we'll dive deeper into multivariate analysis, exploring its typ

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  • what is RIM weighting | scale

    What is RIM Weighting? [+ Benefits of Weighing Survey Data]

    RIM weighting stands for Random Iterative Method. RIM weighting is a form of survey weighting the data supplied by market research respondents. It is a technique commonly used to weigh market research data to certain demographics such as age, gender, geography, income, etc. RIM weighting becomes more challenging and complex when weighing several different demographics, rather than just one. This blog post will cover why market research analysts use RIM weighting, the benefits of this type of

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  • Blog: Statistical Significance in Market Research [Types & Examples]

    Statistical Significance in Market Research [Types & Examples]

    If you have ever encountered market research data, chances are you have heard the phrase, “statistically significant.” It sounds great, but what does it actually mean? Statistical significance in market research refers to the likelihood that observed differences or relationships between variables are not due to random chance but are meaningful and reliable. By applying significance testing in market research, researchers can gain insights into the effectiveness of different marketing approac

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  • Blog: Explaining Key Driver Analysis [Calculation, Uses, Examples]

    Explaining Key Driver Analysis [Definition, Uses, & Examples]

    Understanding the factors that drive consumer behavior is vital for any organization aiming to gain a competitive edge. And market research, as a powerful tool, plays a crucial role in deciphering the intricate dynamics of consumer preferences and decision-making processes. Within the realm of market research, one approach that holds immense value is key driver analysis. By delving into the underlying motivations behind consumer choices, key driver analysis unveils the crucial factors that

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  • components of market research proposal

    7 Components of a Market Research Proposal

    A market research proposal is the first and most critical step in your project or choosing a market research consultant. It gives you all of the information you need on the process, approach, and most importantly: the cost 💸💸. You can also tell a lot about a market research company from the interactions you have before signing on the dotted line. In this article, our market research company shares everything you need to know about market research requests for proposals. It will teach you

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  • Blog: Factor Analysis: Definition, Types, and Examples

    Factor Analysis: Definition, Types, and Examples

    Factor analysis is a statistical method used to uncover underlying dimensions, or factors, in a dataset. By examining patterns of correlation between variables, factor analysis helps to identify groups of variables that are highly interrelated and can be used to explain a common underlying theme. In this blog, we will explore the different types of factor analysis, their benefits, and examples of when to use them. What is Factor Analysis? Factor analysis is a commonly used data reduction s

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  • advantages and disadvantages of online research panels | computer research panels | computer with address book

    Pros and Cons of Online Market Research Panels

    In order to recruit participants or respondents for a market research study, researchers often turn to online panels. An online research panel includes a group of pre-recruited participants who have signed up to participate in future market research studies such as online surveys, focus groups, and in-depth interviews. Before choosing a panel vendor as a sampling source, learn more about the advantages and disadvantages below! What is an Online Research Panel? Online research panels are

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