Market Research Glossary
-
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
-
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
-
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
-
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
-
Explaining Semantic Differential Scales [+ Example Questions]
Posted at: 5/4/2023 12:30 PM
Semantic differential scales are a popular type of survey question used in market research to measure attitudes toward a particular concept or object. This type of scale uses a series of bipolar adjectives or phrases to evaluate the respondent's perception and evaluation of a concept or object. In this blog post, our market research company explains what semantic differential scales are, how they work, and provide examples of different types of questions to help you understand how to use them
-
What is a Loaded Question in Surveys? [+ Examples]
Posted at: 5/3/2023 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. One of the most common issues with surveys is the presence of loaded questions. In this article, our market research company explores what loaded questions are, how they differ from leading questions, and provide examples of loaded survey questions to help you recognize (and avoid writing) them. What is a Loaded Question in a Surv
-
What is Mixed-Method Research? [+ Examples & Benefits]
Posted at: 4/11/2023 12:30 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
-
Hybrid Research: How to Combine Qualitative & Quantitative Methods
Posted at: 4/10/2023 12:30 PM
Deciding between qualitative or quantitative research methods? Who says you have to choose? With hybrid market research, you don't have to. No matter your business objectives or goals, there are a number of qualitative or quantitative methodologies at your disposal. Each method is designed to answer a specific question in order to get desirable and actionable results. But, with hundreds of types of market research methodologies to choose from, it is easy to get bogged down in choosing just
-
What is Data-Driven Decision Making? (And Why It's So Important)
Posted at: 3/27/2023 12:30 PM
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! But, when it comes to making business decisions, it is crucial to take all external factors into account before taking any decisive action. Through the process of data-driven decision-making (DDDM), organizations can ensure that their business goals and objectives are guided
-
What is Correlation Analysis? [Examples & How to Measure It]
Posted at: 3/26/2023 12:30 PM
Correlation analysis is a tremendous tool to use in understanding how one variable affects another. 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. Take customer experience, for example. Let's say you have the overall customer satisfaction score you need. But then, you want to know how that correlates with other aspects of the customer experience such as product price, shipping time, or
-
What is Incidence Rate (IR) in Market Research?
Posted at: 3/24/2023 12:30 PM
This article will give you a better understanding of incidence rate in market research detailing exactly how low and high IRs can impact the feasibility and cost of your market research study. What is Incidence Rate (IR) in Market Research? Incidence rate (IR) in market research is defined as the number of respondents from a sample pool that will qualify for your study. It is often synonymous with the qualification rate. High incidence rate means a greater number of people qualify for the
-
Dyads & Triads in Market Research: What's the Difference?
Posted at: 3/20/2023 12:30 PM
In this article, we'll walk you through an explanation of dyads and triads, examples of how they are used in market research, and their benefits over traditional qualitative methodologies. What are Dyads in Market Research? Dyads in market research are qualitative research discussions consisting of 2 participants together, led by a moderator. The two people selected for the dyad will either come as a pair who know one another, or two strangers that have never met. Common examples of dyads