Market Research Glossary

  • mobile diary market research

    What Is a Mobile Diary? | Market Research 101

    Are your market research methodologies stale? Focus groups have been around since the Mad Men era of advertising in the 1950s and 1960s. So much has changed since then. Marketing has evolved, communication has evolved, consumer behavior has evolved, why hasn't your market research? The mobile market research (MMR) movement is growing at an incredible adoption rate over the past 12 years. Drive Research talked about 4 key drivers to the growth of mobile years ago and the trend has only persiste

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  • What is a Bulletin Board in Market Research

    What is an Online Bulletin Board in Market Research?

    Market research offerings are constantly evolving, which is great because innovation tends to lead to better insights. With online resources becoming more advanced, easy to use, and accessible to participants, businesses are in a great spot to harness market research to make better decisions. Take online bulletin boards for example. It combines the in-depth feedback of qualitative market research while utilizing virtual resources to make accessing participants more accessible and cost-effectiv

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  • Blog: Market Research vs. Marketing Research: What’s the Difference?

    Market Research vs. Marketing Research: What’s the Difference?

    The two terms we will discuss today seem interchangeable at first glance. It’s only a difference of 3 letters, they can’t be that different right? Well actually, there are many differences between market and marketing research. To put it more simply, market research pertains to events that occur in and around markets. Marketing research refers to the research tasks related to marketing. I know, it’s still a bit confusing. Throughout this blog post, we will discuss both market and marketing re

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  • perception-score-market-research-08022018

    What is Perception Score?

    Businesses often measure perception among customers and non-customers for their products and services to remain competitive. It tells brands how their organization is viewed and how this may differ from internal stakeholders. A result of gathering this insight is a perception score. To reap the most benefits of this calculation is to measure it over time and compared to key competitors. Looking for more? Find details on what perception score is, how to ask perception in a survey, how to calcul

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  • journey-mapping-market-research-03062018

    What is Journey Mapping in Market Research?

    Market researchers can be creative. No really! We can be. Even today, people still think about market research professionals as statisticians, math people, or numbers-gurus. We still hold those associations close to heart, but our job involves so much more than just numbers. For example, journey mapping is another growing trend in market research that plays on the creative side of the fence. Although journey maps are based on data and statistics behind a path to purchase, the actual map itse

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  • what is the roi on market research drive research

    What is the ROI on Market Research? The Answer is a Tricky One

    Return on investment or ROI. It is a ratio all of us in business and marketing seek but rarely take the time to calculate. Are you trying to determine the ROI of market research? It is hard, if not impossible to calculate. Here are 5 ways of how ROI is produced by using market research. Why Calculating the ROI on Market Research is Challenging When it comes to ROI in market research, it's not as easy to calculate as it is in other marketing arenas. For example, take paid search, SEM, or

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  • Blog: Business Competitive Analysis: What Is It and How To Conduct a Successful Assessment

    Business Competitive Analysis: What Is It and How To Conduct a Successful Assessment

    Most businesses are well aware that they compete with others for a share of their market. But how many really understand the full picture of their competition? Enter a business competitive analysis. There may be plenty you have learned about your competitors over time through... Hearsay through customers Intel from industry contacts Your own informal research and poking around Because of this you probably have shaped a general profile of your top competitors. However, there is real value

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  • market-survey-research-benefits-process

    What is Market Survey Research? | Defining the Benefits and Process of a Market Survey

    Entrepreneurs developing a product or service often create exciting strategies to advertise and introduce their new concept to the market. Unfortunately, their marketing and advertising efforts are not always met with a successful outcome. Before moving forward with spending advertising dollars on their new brand, product, or service, entrepreneurs need to take a step back and properly evaluate the market or space they are trying to enter. Market survey research assures the success of a new

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  • 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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