Market Research Glossary
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What is Competitive Benchmarking? (& How You Can Do It)
Posted at: 4/24/2024 12:30 PM
Businesses stand to gain incredible amounts of useful data from competitor analyses. Gathering this type of data about key rivals in the industry gives businesses a unique edge against relevant companies. A common way to measure this edge is in the form of benchmarking. Benchmarking this data over time will show businesses how they stack up against competitors, allowing them to keep track of this each year. Doing this on a yearly basis is important, as businesses can look back on benchmarki
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Syndicated vs. Custom Market Research: Which Is Best For You?
Posted at: 4/15/2024 12:30 PM
When conducting market research for your business whether it’s for an idea, current service/product, or for testing hypotheses it’s ideal to start off with options that let you gather data quickly to use for decision making. Two high level options to choose from are syndicated market research and custom market research. Both will allow you to get answers to questions you might have using real data from the market or industry. While both are effective, there are differences between syndicated
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In-Depth Interviews (IDIs) in Market Research [2024 Guide]
Posted at: 3/22/2024 7:11 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