Market Research Glossary
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What is Sample Contamination? | Market Research Firm Syracuse, NY
Posted at: 9/3/2024 12:30 PM
Market research can experience its own zombie-like virus through sample contamination. What is sample contamination? Much like it sounds, it's a sample of people who do not represent the traits of the intended population surveyed. Market research involves two groups of people - a sample and a population. What is Sample Contamination? Sample contamination occurs when the sample does not accurately reflect the population it's meant to represent. This can happen when individuals who shouldn't
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What is a Confidence Level? (+ How to Interpret It)
Posted at: 8/15/2024 12:30 PM
Understanding the confidence level is crucial for interpreting the reliability of online surveys. In this blog, we'll explore the concept of confidence levels and how they indicate the accuracy of market research results. Defining Confidence Level Confidence level in market research is defined as the amount of certainty that the true values of the data lie within the stated number in your market research study. The industry standard for confidence level in market research is typically 95%
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What is an Image & Awareness (I&A) Survey?
Posted at: 8/14/2024 12:30 PM
I&A surveys are a great way for businesses to gather data and insights on how to improve their brand strategy. The survey data will reveal how the public views the brand, what kind of associations they have with it, and much more. Using this information, brands will not only improve their public perception, but their brand equity as well. In this post, we'll dive into the details of I&A surveys, their benefits, and a list of commonly included questions. What Is an I&A Survey? I&A surveys
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What is a Quota in Market Research?
Posted at: 8/14/2024 12:30 PM
Understanding quotas is crucial for effective market research project management. Whether it's a broad survey or segmented study, quotas help streamline participant recruitment and data accuracy. Learn more in our blog post below. What Is a Quota? A quota stipulates the targeted number of interviews or complete survey responses that must be obtained through recruitment or fieldwork. It is a common project management term that is commonly used in both qualitative and quantitative market res
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Explaining Microsurveys: Benefits, Drawbacks, & More
Posted at: 8/9/2024 12:30 PM
Microsurveys are an effective market research method used to gather data in a short period of time. These surveys are a win-win for both researchers and respondents: they don't take long to create and they don't take long to complete. But don't mistake their brief nature for not gathering enough quality data. In fact, it's quite the opposite. Microsurveys are designed to take little time and still yield high-quality feedback. Keep on reading to become a microsurvey expert. What Is a Micr
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What is Mixed-Method Research? [+ Examples & Benefits]
Posted at: 7/29/2024 6:31 PM
Asking better questions, utilizing appropriate methodologies, and implementing efficient techniques for your desired outcome are among the several factors that distinguish successful market research. One effective approach to achieve this is through mixed-method research. Mixed-mode data collection is a term used when multiple methodologies are used to collect data for a single project. This may involve focus groups prior to a quantitative online survey. Or in-depth interviews (IDIs) to gat
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![Blog: What is Churn? [Formula + Examples]](/media/6260/expert-guide-to-book-market-research-3.jpg)
What is Churn? [Formula + Examples]
Posted at: 7/18/2024 12:21 PM
Understanding and measuring customer retention is crucial. One key metric that businesses track to gauge customer loyalty is churn. But what exactly is churn, and why is it so important? In this blog post, we'll delve into the concept of churn, explain the formula used to calculate it, and provide practical examples. What Does Churn Mean in Business? Churn is a term used to quantify a percentage of people who leave a group, organization, or company within a given time period. It most comm
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What is Secondary Research? (Our Definition, Examples, and Types)
Posted at: 7/12/2024 12:30 PM
Organizations, brands, and researchers are constantly seeking ways to collect and explore more data that helps them understand the vast array of subjects. 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 resea
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Difference Between Qualitative and Quantitative Market Research
Posted at: 6/28/2024 5:40 PM
Market research comes in many shapes and sizes. With most organizations having limited resources to approach research, it is more important than ever to make sure that you make the correct decision when it comes to the type of research you conduct. Before you dive into responses and analysis you have to answer one simple question before everything else: qualitative or quantitative? There are a few key differences between these two approaches in the industry. Ultimately, the direction you ch
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What is a Loaded Question in Surveys? (With Examples)
Posted at: 6/26/2024 12:30 PM
Have you ever participated in a survey or questionnaire and felt like the questions were designed to sway your answers in a certain direction? You're not alone. Loaded questions are one of the common errors of surveys that we always have clients avoid. These questions not only skew data but ultimately hurt your business when you try to make important decisions based off of the now, inaccurate data. In this article, our market research company explores what loaded questions are, how they dif
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What is Correlation Analysis? [How to Measure + Pros & Cons]
Posted at: 6/14/2024 12:30 PM
Correlation analysis is a tremendous tool to use in understanding how one variable affects another. It can also be used to find out how much they affect each other. By providing a distinct perspective on which factors impact your business the most, you can feel more confident in the actions you take after the report. Correlations can be misunderstood or misused, which is why it’s important to have experience or be using expert insights in order to get things correct. In this blog post, our on
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What is TURF Analysis? [+ When & How You Should Use It]
Posted at: 5/31/2024 12:30 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