Market Research Glossary

  • What is evaluation research-thumbnail

    What is Evaluation Research? + [Methods & Examples]

    Every business and organization has goals. But, how do you know if the time, money, and resources spent on strategies to achieve these goals are working? Or, if they’re even worth it? Evaluation research is a great way to answer these common questions as it measures how effective a specific program or strategy is. In this post, we’ll cover what evaluation research is, how to conduct it, the benefits of doing so, and more. Article Contents Definition of evaluation research The purpose of pr

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  • Online Qualitative Research: What It Is & How to Conduct It

    Online Qualitative Research: What It Is & How to Conduct It

    Spend any amount of time searching online or reading about modern market research, and you are bound to see talk of online qualitative research. But what is it? Online qualitative research is just that– qualitative research that is conducted remotely or virtually. And, in 2023, it’s arguably the most popular form of qualitative research and will only get bigger. There may be some hesitation when reshaping your market research for the digital world. But ultimately, it’s important to realize

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  • MaxDiff Analysis: What Is It & How to Use It

    MaxDiff Analysis: What Is It & How to Use It

    MaxDiff is a form of discrete questioning in market research that asks respondents to choose between the best and worst options out of a list of attributes. It is commonly used for new product ideas, ad concept testing, packaging designs, and more. In this post, we'll discuss MaxDiff analysis in more detail – what it is, when to use it, how to analyze MaxDiff survey results, and more. What is MaxDiff? Maximum Differential (MaxDiff) analysis is used in survey research and other forms of e

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  • Blog: Longitudinal Research: Definition, Process, and Benefits

    Longitudinal Research: Definition, Process, and Benefits

    When it comes to market research, many conversations often center around benchmarking. And longitudinal research helps brands obtain these benchmarks over time. A data point is just a data point in a vacuum. Without context, it does not provide a lot of value. A simple example would be a marketing consultant telling you that 64% of your customers are satisfied. Without any context, would that data point be usable for you? Is 64% good or bad? How does it compare to other competitors? Industr

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  • Blog: Common Types of Qualitative Research to Gather Data

    Common Types of Qualitative Research to Gather In-Depth Feedback

    While both qualitative and quantitative market research methods have several unique benefits, there are some situations where one may suit a research goal more than the other. In many, there’s also a strong case for using both (AKA, “hybrid research”). However, for the research to be effective, it’s important to understand all of the options available. We’ve previously discussed common forms of quantitative research, but what about qualitative options? Below, we’ll discuss some of the most

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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. Ethical practices in market research 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, the organization takes measures to ensure both participants and

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  • Blog: What is Competitive Benchmarking?

    What is Competitive Benchmarking? (& Why It's Important)

    There is a lot of information you can learn from conducting a competitor analysis. Although one of the most common reasons for conducting research on competitors is for accurate benchmarking. Competitive benchmarking showcases how your organization compares to competing brands on all facets of business such as costs, marketing strategies, employee retention, and customer satisfaction. Additionally, by doing this more regularly (at least once a year) organizations can see how these metrics ch

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  • Blog: What is Executive Interviewing? Surveying Hard-to-Find B2B Leaders

    What is Executive Interviewing? Surveying Hard-to-Find B2B Leaders

    Generally, market research surveys aim to reach decision-makers, whether this is household consumers or corporate professionals. When comparing the differences between B2B and B2C audiences, corporate B2B professionals and customers can be much harder to reach. Executive interviewing is based on the notion of surveying high-level business professionals. However because this audience works in a business environment, high response rates can be much harder to achieve. This is perhaps the bigges

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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 research 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 m

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  • what is unaided and aided awareness in market research

    What is Unaided and Aided Awareness in Market Research?

    One of the most common and sought-after metrics in market research is unaided and aided awareness. Whether it is awareness of a product, awareness of a brand, or awareness of advertising, businesses spend an exorbitant amount of money on understanding customers' familiarity. This is because in a consumer's path to purchase, awareness is the first step of an often long decision-making process. If customers are not at least semi-familiar with your product or service, they obviously cannot buy

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  • Blog: Difference Between Qualitative and Quantitative Market Research

    Difference Between Qualitative and Quantitative Market Research

    Market research comes in many shapes and sizes. The most popular way to compare and contrast different methodologies is by explaining the difference between qualitative and quantitative market research. There are a few key differences between these two approaches in the industry. Ultimately, the direction you choose should be guided by your objectives and goals. Each type offers its own unique set of pros and cons. It often helps to receive advice from a professional market research company

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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 or brands need to take a step back and properly evaluate the market or space they are trying to enter. Market survey research assures the succes

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