Market Research Glossary
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What Are Ad Recall Surveys? [+Example Questions]
Posted at: 11/7/2023 1:30 PM
Spend. Spend. Spend. The world of advertising is all about spending money to reach targeted geographies, targeted users, and generate revenue. Although the days of digital marketing have made advertising easier to track and measure, an enormous gap still exists in the industry between market research and advertising. This is where ad recall surveys enter the fold. Keep reading to learn more about ad recall surveys, or skip ahead to a section you are most interested in. Article Contents 📝
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What is TURF Analysis? [With Examples]
Posted at: 11/6/2023 1:30 PM
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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Customer Journey Mapping: Plotting Paths to Purchase
Posted at: 10/11/2023 11:30 AM
Identifying and measuring the intricacies of customer interactions is necessary for any business. This is where customer journey mapping steps into the spotlight. It's more than just a visual representation; it's a strategic compass that guides businesses toward a deeper understanding of their customer's experiences. In this blog post, our market research company defines journey mapping, the importance of journey maps, and the process of creating a data-driven journey map. What is Customer
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Conducting Corporate Image Studies in 2023
Posted at: 9/6/2023 12:30 PM
A corporate image study, similar to a brand equity study, measures the perception of an organization among its specific target audience. The goal is to better understand the thoughts, feelings, and expectations of the brand among that group of targeted consumers or clients. For this reason, defining the target audience is a critical factor in the success of a corporate image study. In this guide, our market research company will discuss: Defining Corporate Image Studies Benefits of a Corporat
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What is Customer Effort Score? [+ How to Calculate CES]
Posted at: 8/11/2023 12:30 PM
In today's digital world, customers are interacting with your brand and product around the clock through apps, websites, 24-7 customer service, and e-commerce. They demand frictionless journeys, minimal hurdles, and effortless resolutions. This shift in customer expectations has led to the ascent of Customer Effort Score (CES) as a fundamental measurement, offering businesses a comprehensive insight into the quality of their customer support, product design, and overall user experience. In t
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What is Syndicated Data? [Examples + Pros, & Cons]
Posted at: 8/8/2023 12:30 PM
If you find yourself in a situation where you don’t have the funds or time to complete a custom market research study, syndicated data is a great alternative. It is a form of secondary research that allows organizations to find insights into products, services, industries, competitors, and markets through existing information and sources. In this article, we’re going to explain what syndicated data is, how it works, and share some examples of it in practice. Syndicated Research: Definition
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![Blog: Statistical Significance in Market Research [Types & Examples]](/media/5578/analyzing-statistics.jpg)
Statistical Significance in Market Research [Types & Examples]
Posted at: 7/10/2023 12:30 PM
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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What is a Nested Sample? [+ Examples and Uses]
Posted at: 6/29/2023 12:30 PM
One powerful technique within market research is the use of nested sampling, a strategic approach that allows researchers to delve deeper into the intricacies of a population. By employing a nested sample design, researchers can investigate specific subgroups within a larger population, enabling them to gain valuable insights into consumer behavior, preferences, and market segments. In this blog post, we will explore the concept of nested sampling, its benefits, examples, and how it contribu
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What is Secondary Research? [+ Examples and Types]
Posted at: 6/2/2023 12:30 PM
Organizations and researchers are constantly seeking ways to explore and understand the vast array of topics that pique their interest. One invaluable tool at their disposal is secondary research also, known as desk research. Essentially secondary research means it’s data and research collected by someone else. This includes analyzing data prepared by other industry experts or syndicated databases. While primary research involves collecting data firsthand, secondary research harnesses the w
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Explaining the Market Research Process [With Examples]
Posted at: 5/23/2023 12:30 PM
In today's rapidly evolving business landscape, staying ahead of the competition requires more than just a great product or service. It demands a deep understanding of the market, consumer behavior, and emerging trends. This is where the market research process becomes invaluable. In this blog post, we will delve more into market research and explore its significance in driving business success. We will also walk you through each step of the market research process, offering practical examp
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In-Depth Interviews (IDIs) in Market Research [2023 Ultimate Guide]
Posted at: 5/16/2023 12:30 PM
Wish you could have a detailed conversation with key customers or target prospects to gather feedback about your brand, products, or services? In-depth interviews (IDIs) are an excellent type of market research to accomplish this goal as they are often used to gather detailed and comprehensive information from individuals or small groups. In this guide, our market research company explores the advantages and disadvantages of using in-depth interviews in market research, how they differ from ph
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Primary Market Research: What Is It and Why Is It Important?
Posted at: 5/15/2023 12:15 PM
In today's highly competitive business landscape, companies need to stay ahead of the curve to succeed. One of the best ways to do this is by conducting primary market research. Primary market research involves gathering first-hand data from potential customers, clients, and stakeholders to better understand their needs, preferences, and behaviors. By doing so, companies can identify new opportunities, mitigate risks, and make more informed decisions. Read on to find out what primary market