Market Research Analysis
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Market Research Options for Restaurants | 10 Methodologies for the Dining Industry
Posted at: 4/8/2021 6:58 PM
Whether your restaurant is well-established on merely a concept, market research can be extremely beneficial to its success. Drive Research, a full-service market research firm, has worked with restaurants across the country from fast-food to fine dining. Our restaurant market research company has found there is always room for new insights, increased customer satisfaction, and a competitive edge. In this blog post, I'll outline ten types of market research establishments in the dining indu
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Market Research Incentives: New Survey Shows What Reward is Most Appealing to Respondents
Posted at: 4/5/2021 12:30 PM
Market research incentives and rewards often vary depending on a number of factors. Is it a qualitative or quantitative study? What is required of market research respondents? What is the criteria of your target respondent? Choosing the right market research incentive can help increase the response rate, and actually save costs. More on that here: Higher Rewards Can Equal Lower Market Research Costs. Our market research company recently conducted a study to measure factors of email survey i
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8 Market Research Options for Retail | Market Research Company
Posted at: 3/25/2021 2:03 PM
It’s no secret that retail is a crowded and competitive industry. As a result, consumers are presented with a large array of options, allowing customers to choose where they want to spend their money. For this reason, market research in the retail industry is more important now than ever. By speaking with consumers, your retail store will be able to better understand your target market and make better business decisions. Why should a retail store conduct market research? Market research
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4 Greatest Factors for Choosing a Full-Service Market Research Supplier
Posted at: 3/5/2021 4:40 PM
When deciding to conduct a market research project, there are a number of important decisions that must be solved before kicking off a project. The first, and likely most important decision, is choosing the right full-service market research supplier for your goals and objectives. A full-service market research company provides businesses with its expertise in confidently executing a broad range of both qualitative and quantitative services. This could mean online surveys, qualitative recrui
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Stated Importance Versus Derived Importance: What’s the Difference?
Posted at: 3/1/2021 1:30 PM
Directly asking respondents about how important factors are is formally referred to as stated importance. Whereas derived importance is the indirect way of measuring which factors matter the most to respondents by using other answers from the survey. In this blog post, our market research company provides an overview of both approaches as well as which one is better to use. But wait...why do we need stated or derived importance in market research? Researchers trust respondents to provide the
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What Does the End of Third-Party Cookies Mean for Market Research?
Posted at: 2/25/2021 1:30 PM
As consumers become increasingly aware of their information online, user privacy will continue to be a pressing issue in the United States. For example, big tech companies like Facebook and Google have been expanding their user settings to promote transparency and limit data collection at the user’s request. Part of this movement has also included a focus on the negative consumer views toward third-party cookies. It’s clear this will have a significant effect on the marketing industry, but wh
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What are Ethical Practices in Market Research?
Posted at: 2/18/2021 2:31 PM
Anywhere in business, ethics play an important role. Ethical practices are what help establish trust between parties and provide structure for dealings. The market research industry is no exception to these ethical practices. Market research ethics are moral principles that guide the responsibility to conduct and analyze research without deception to ensure authenticity. At every step of a market research effort, a market research company takes measures to ensure both participants and clien
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7 Components of a Market Research Proposal
Posted at: 2/17/2021 3:05 PM
You can tell a lot about a market research company from its proposal. A market research proposal is the first and most critical step with 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 💸💸. Before you sign on the dotted line read this post about market research request for proposals. It will teach you what to look for, what the process looks like, and the key components of an RFP d
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Market Research Request For Proposal Free Template
Posted at: 2/12/2021 2:11 PM
Are you on the hunt for a proposal, quote, or estimate from a qualified market research company – but, don’t know how to properly request this information? We’ve got you covered with our free market research RFP template. Market research is a broad term that covers many types of methodologies, therefore it is helpful to clearly identify project goals, objectives, and specifications when requesting the help of a third-party research firm. This free market research request for proposal (RFP)
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How Has Market Research Changed Over the Years?
Posted at: 2/9/2021 1:30 PM
In the past 100 years, market research has changed and revolutionized how companies use these methods to gather crucial insights. However, even in the past few decades, technology has changed exponentially. As a result, common types of market research has been forced to evolve as well. In this blog post, our market research company looks back at the 2000s, 2010s, and the 2020s to see how market research has changed over the years. Market Research in the 2000s In 2003, Fred Reichheld revo
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5 Benefits of Using Text Analytics for Open-Ended Survey Responses
Posted at: 2/8/2021 1:30 PM
Open-ended responses can be tricky data to work with for market researchers. There is undoubtedly value in asking these questions of respondents in online surveys, but the insights are often less obvious. By comparison, listed answer options in a survey can be easily analyzed by just about any data management tool. It is no wonder text analytics is increasingly growing in popularity. What are the actual advantages of using text analytics? Below are five tangible benefits you can expect fr
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Strategies to Increase B2B Sales | 5 Theories Based on Research
Posted at: 12/2/2020 3:26 PM
There are two avenues of market research, B2B (business to business) and B2C (business to customer). Although in both instances, the marketing approaches taken must be catered to each audience separately. In the same regard, there are different strategies to increase B2B sales than to do the same for a B2C brand. Why? Because the relationship with the customer is different. Research shows B2B purchases are based more on logic, while B2C is based more on emotion. With B2B purchases there are o