Market Research Glossary
-
Topline or Comprehensive Market Research Report: What’s the Difference?
Posted at: 9/17/2020 12:30 PM
Wondering the difference between a topline and a comprehensive market research report? Our market research company has your back! The main differences stem from the level of detail and the speed of executing the report. Ultimately, both can be developed to look polished and presentation-ready. With both a full comprehensive and a topline report, there is also an option to debrief after the market research is conducted. Drive Research typically schedules this debrief meeting via a conference ca
-
What is a Customer Persona? | Market Research Company
Posted at: 9/14/2020 1:43 PM
When it comes to market research reports it's easy to get lost in charts and graphs. When market research companies like Drive Research work on reports, we balance comprehensiveness with brevity. It's important to provide the detail to the clients who want it but also provide highlights to the clients who want a quick overview of results. Our clients value the detail and comprehensiveness of our market research reports. This may include the question-by-question breakdown of each question, the
-
What is an Employee Net Promoter Score (eNPS)?
Posted at: 8/20/2020 1:02 PM
Market researchers talk about net promoter scores (NPS) a lot, but what is eNPS? eNPS stands for employee net promoter score. The difference between NPS and eNPS is the survey audience. NPS typically measures results from customers or members, while eNPS measures results and company ratings from employees. Our employee survey company shares how to measure and use eNPS in this short video. Prefer to read? Our employee engagement research firm explains what eNPS is, how to measure it, and how
-
How to Conduct a Corporate Image Study? | Market Research Company
Posted at: 8/7/2020 12:30 PM
A corporate image study, similar to a brand equity study, measures the perception of an organization among their specific target audience. The goal is to better understand the thoughts, feelings, and expectations of the brand among that group of targeted consumers or clients. For this reason, defining the target audience is a critical factor in the success of a corporate image study. In this post, our market research company will discuss: Defining your target audience The benefits of a corpo
-
What is Mobile Market Research (MMR)?
Posted at: 8/4/2020 12:30 PM
According to Statista, over 275 million Americans are estimated to own a smartphone in 2020. That’s more than 4 in 5 people in the entire United States. Still, you probably aren’t that surprised to see this statistic. Mobile devices are so ingrained in American culture you probably are within arm’s reach of your smartphone right now. They can arguably do just about everything a desktop can but on a smaller and more accessible device. The market research industry has adapted well to this evolut
-
What is Regression Analysis in Market Research? | Definition, Uses, and Benefits
Posted at: 8/3/2020 7:17 PM
Regression analysis is another tool market research firms used on a daily basis with their clients to help brands understand survey data from customers. The benefit of using a third-party market research firm is that you can leverage their expertise to tell you the “so what” of your customer survey data. Regression analysis helps you make sense of priority areas and what will have the most impact and influence on your customer relationships. This article will help you understand the definition
-
The Comprehensive Guide to Conducting a Shop-Along in 2020
Posted at: 7/13/2020 12:50 PM
Retailers are in constant competition for consumer attention. With numerous products and services that are comparable and similar on multiple levels, every company wants consumers to buy their product or service over the competition. How does a company, brand, product, or service stand out against the competition? They need to effectively market to their ideal customer by grabbing their attention and guiding them to a buying decision. A great market research option for collecting this type o
-
What is a Constant Sum Scale in Market Research?
Posted at: 7/10/2020 1:02 PM
A constant sum scale is a type of question used in a market research survey in which respondents are required to divide a specific number of points or percents as part of a total sum. The allocation of points are divided to detail the variance and weight of each category. Constant sum scales are a less frequently used question in surveys when compared to basic likert scales, single radio responses, or checklists (i.e. multiple response options). They are an excellent way to create variance amon
-
What is Included in a Market Research Executive Summary?
Posted at: 6/29/2020 3:06 PM
No good market research study is complete without a report. Not all reports have to be 100 to 200 page PowerPoint documents. It seems like management is more stretched than ever before when it comes to time, so reading a long report could prove very burdensome. This has resulted in the growth of more digestible reports such as executive summaries, toplines, infographics, and bullet point takeaways. The secret to executive summaries is all in the name. What you are viewing should be concise and
-
What is NPS in Market Research? | Net Promoter Score
Posted at: 6/17/2020 7:17 PM
Net promoter score (NPS) has become a commonly used metric in market research surveys. NPS has now become a staple in customer satisfaction (CSAT) surveys across the globe. It provides an analyst with several benefits beyond the standard likert scaling question and is fairly easy to understand. Our market research company recently created a short video on this exact topic. Prefer to read? Navigate to each section of this blog post by clicking the titles below. What is NPS? How is NPS calc
-
What is Monadic Testing and Sequential Monadic Testing in Market Research?
Posted at: 6/11/2020 12:30 PM
Want to test a new product, concept, or service? Two common methods used in market research are: Monadic testing Sequential monadic testing While these two tests sound similar, there is an important difference that stems from whether one new product or concept is shown vs. multiple. Learn more about monadic testing, sequential monadic testing, how it works, and the pros and cons of using each. What is monadic testing in market research? For a name that seems complicated, monadic testi
-
What is Unaided and Aided Awareness in Market Research?
Posted at: 5/20/2020 8:21 PM
One of the most common and sought after metrics in market research is awareness. Whether it is awareness of a product, awareness of a brand, or awareness of advertising, businesses spend an exorbitant amount of money seeking the answer to this question. In the path to purchase, awareness is the first step of an often long decision-making process. If customers are not aware of your product or service, they obviously cannot buy it. The AIDA model is often used to showcase a path to purchase for