Market Research Glossary

  • central-location-test-market-research-03072019

    Central Location Test (CLT) in Market Research

    A central location test (CLT) is often performed for quantitative research purposes. Unlike a home-use test where testing takes place in the participants' homes, CLTs take place in a controlled environment. CLTs, commonly referred to as hall tests, have a number of advantages, including the ability to interact in-person with the participants. Central Location Tests (CLTs) are a great way to create a controlled environment for your market research. This is often essential for taste testing and s

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  • brand-positioning-study-market-research-02152019

    What is a Brand Positioning Study in Market Research?

    Wondering how to position a brand for success? Brand positioning research assesses several useful metrics such as brand awareness, perception, word associations, and more. Using data to fuel next steps with brand positioning strategy is powerful. Rather than making assumptions or continuing to do what has worked in the past, research allows marketing and advertising teams to better understand their market of interest. A brand positioning study is similar to an image and awareness (I&A) or bran

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  • group-effect-bias-market-research-01312019

    What is Group Effect or Group Bias? | 101 Market Research Guide

    It's important to be aware of the group bias effect when performing market research. This bias can negatively impact a person's answers when taking part in qualitative research studies. Keep reading to learn more about the group bias effect, including what it is and how to prevent it from occurring when conducting focus group studies for market research. Group effect or group bias can have a major impact on the results of your focus group or qualitative research. Learn more about it and how to

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  • piggyback-survey-market-research-01082019

    What is a Piggyback Survey?

    Most would agree market research is an essential pre-cursor of strong business strategy. It provides better data for better decisions to improve strategy. It's hard to argue with the value of market research if you choose the right objectives and the right approach. The insights and recommendations derived from a survey offer tremendous ROI. However, a common concern about market research or just marketing in general is the expense. "It's too costly." "I can't afford market research." "I wan

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  • bad-survey-market-research-tips-11162018

    What Makes a Bad Survey? | Market Research Survey Tips

    Wondering how to spot an awful survey? As a leading market research company, we have spotted our fair share of surveys written by non-pros with a variety of issues. In fact, the twitter account @MRXShame is dedicated to spotting bad surveys with major, sometimes hilarious, errors. Reading through these tweets are definitely worth your time and will give you a laugh. Below is an overview of factors that could lead to a bad survey. Learn what makes a survey truly awful. Be Mobile Friendly

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  • market-research-business-tips-11152018

    3 Reasons Market Research is Important for Business

    According to the U.S. Small Business Administration there are over 30 million businesses in the United States in 2018 and that number is only representing businesses that have less than 100 employees. The number 30 million does not even reflect larger corporations such as Walmart, Apple, Exxon, CVS, AT&T, General Mills, or General Motors. What does that number really mean for a business? It means any business that offers a product or service has competition. Any business is not the one and only

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  • b2c-b2b-market-research-differences-benefits-09242018

    B2C and B2B Market Research | The Difference and Benefits

    First, let’s define the acronyms B2B and B2C. B2B and B2C are both marketing terms that refer to the relationship between two groups within a marketing campaign. B2B refers to the marketing relationship business-to-business, and B2C refers to marketing relationship business-to-customer. Although in both instances a product or service is being promoted with the objective of resulting in a purchase, research shows the decision-making process between these two marketing relationships is quite diffe

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  • differential-scale-market-research-08232018

    What is a Semantic Differential Scale?

    A semantic differential scale is a type of survey question which asks respondents to select a specific rating with the two endpoints of each scale being antonyms. It works much like a 1 to 5, 1 to 7, or 1 to 10 likert scale but instead of "1" being least and "10" being most the numbers are replaced with words opposite one another. An example of a semantic differential scale is a fast food restaurant asking: "How were the french fries you recently purchased from our restaurant?" One side of the

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  • perception-score-market-research-08022018

    What is Perception Score?

    For products and services to successful and competitive, businesses measure perception among customers and non-customers. Measuring perception tells us how highly a brand is viewed. Oftentimes, perception is measured over time and compared to key competitors. By measuring perception over time, brands are able to see how it changes from year to year as updates and changes are made to the product, services, and market. Measuring perception of key competitors allows a brand to understand how it ra

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  • turf-analysis-media-product-research-07132018

    What is TURF Analysis? | Media and Product Research

    TURF analysis is a commonly used market research technique that helps organizations understand how to reach the greatest number of customers with a limited number of offerings. TURF stands for Total Unduplicated Reach and Frequency. TURF analysis is frequently used in product, media, and general consumer market research. In general, it’s not feasible for a business to offer every product, service, and feature that their customers want. Knowing this is a limitation, organizations need to careful

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  • differences-qualitative-market-research-06192018

    Difference Between Qualitative and Quantitative Market Research

    Market research comes in many shapes and sizes. This includes qualitative and quantitative research. There is a difference 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 pros and cons. It often helps to receive advice from a professional market research company when scoping out your project. Qualitative and quantitative market research are two very different approaches. Qualit

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  • market-research-process-04032018

    What is the Market Research Process?

    The market research process follows a step-by-step best practice approach. This starts with a proposal from a market research provider followed by a kickoff meeting, research instrument design, testing and fieldwork, analysis and reporting, and a final debrief. Although this differs from firm to firm and provider to provider, regardless of whether the market research is qualitative or quantitative, it typically follows this step-by-step process. The market research process involves a lot of wor

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