Market Research Glossary

  • Blog: What is Value Chain Analysis? | Market Research Company

    What is Value Chain Analysis?

    Michel Porter first introduced the value chain analysis framework in 1985 in his influential book, “Competitive Analysis”. Using value chain analysis can be extremely useful and gives businesses a clear idea of how to adjust their activities in order to increase revenue and profit margins. Using value chain analysis provides businesses with a clear idea of how to adjust their activities in order to increase revenue and profit margins. Learn more about the process of using value chain analysis

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  • Blog: What is Coolhunting in Market Research?

    What is Coolhunting in Market Research?

    Initially, coolhunting was meant to focus on fashion and design. However, it has expanded to include other sectors such as technology and is a great tool to use in market research. In this blog post, our market research company will discuss what coolhunting is, what methodology to use, and what results gained from coolhunting reports can be used for! What is Coolhunting in Market Research? Coined in the 1990s, coolhunting is a market research method that seeks to predict trends and style

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  • Blog: Company Acquisition Surveys: How to Earn Loyalty from New Customers After a Merger

    Company Acquisition Surveys: How to Earn Loyalty from New Customers After a Merger

    Some industries are no strangers to business mergers and acquisitions. One such industry is banking and financial services, which commonly experiences consolidation with so many regional and local players in the market. A sometimes overlooked piece of a merger or acquisition, though, is the transition of new customers to your business. We never want to assume everything will proceed smoothly and that the obtained customers will just give you their loyalty. A great way to check-in with these ne

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  • Blog : Stated Importance Versus Derived Importance: What’s the Difference?

    Stated Importance Versus Derived Importance: What’s the Difference?

    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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  • ethical-practices-market-research-10082018

    What are Ethical Practices in Market Research?

    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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  • Blog: What is Data-Driven Decision Making? (And Why It's So Important)

    What is Data-Driven Decision Making? (And Why It's So Important)

    As human beings, we often make split-second decisions based on feeling and intuition, without taking the outcome or consequence into account. We can’t always help it, we are emotional and empathetic creatures after all! When it comes to making business decisions, however, it is crucial to take all external factors into account before taking any decisive action. Through the process of data-driven decision making (DDDM) you can ensure that your business needs and objectives are guided by cold

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  • Primary Market Research: What is it and Why is it Important?

    Primary market research is huge. I mean, it’s kind of a big deal! Think about it: giant corporations have entire departments dedicated to market research, and some colleges and universities even have market research degrees and certification programs. With that said, there’s a lot to it. Just take one look at our market research company’s blog page and you’ll see a plethora of sub-topics. Where would one even begin? This article breaks down primary market research, a broad category that br

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  • Blog post: Custom Online Research Panels: 4 Reasons to Choose Third-Party Panel Recruitment

    Custom Online Research Panels: 4 Reasons to Choose Third-Party Panel Recruitment

    Custom online research panels are an increasingly popular tool in the market research world. They are effective, practical, and worthwhile. Oftentimes companies will attempt to reinvent the wheel with new projects throughout the year; projects that are laborious and time-consuming. That’s where market research panels come in. They provide a pool of qualified individuals who can participate in research studies at a moment’s notice. We know third-party panels can be confusing, especially for th

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  • ad-recall-market-research-02202019

    What Are Ad Recall Surveys? | Market Research Company

    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 market research enters the fold. Article Contents Keep reading to learn more about ad recall surveys, or skip ahead to a section you are most intereste

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  • Mobile-ethnography-benefits-market-research

    What is Mobile Ethnography? | 6 Benefits

    In the market research industry, mobile ethnography provides valuable insights and can have several key advantages over other research methodologies. The flexibility of mobile research approaches combined with the above benefits creates a strong return on investment. Our market research company details more about what mobile ethnography is and the 6 benefits of using this research methodology below. Interested in conducting a mobile ethnography study? We can help with that too. Contact Drive

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  • blog: Ultimate Guide to Brand Tracking in 2021 | Market Research Company

    Ultimate Guide to Brand Tracking in 2021 | Market Research Company

    A brand tracking study can help take the guesswork out of market fluctuations or dips in sales by providing continuous and fresh insight into any industry and target audience. Sometimes it feels as though there is no rhyme or reason as to why our business is performing well or why it is not hitting revenue goals. Brand tracking can help measure this type of uncertainty. Tracking studies provide real-time insight into the ever-changing attitudes, behaviors, and opinions of the customers and p

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  • what is ad hoc market research

    What is Ad-Hoc Market Research? | National Market Research Company

    Market research projects come in many shapes and forms. There are 2 core types of studies in market research: Tracking studies or long-term projects Ad-hoc market research projects So, what is a typical day like in market research? The answer is: "it depends.” What does it depend on? It depends on the type of market research team you work for (client-side or supplier side), your role and title in your organization, the industries or methodologies your organization specializes in, and a numbe

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