Market Research Glossary
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What is Ad-Hoc Market Research? | National Market Research Company
Posted at: 11/5/2020 4:26 PM
Market research projects come in many shapes and forms. There are 2 core types of studies in market research: Tracking studies or long-term projects Ad-hoc market research projects So, what is a typical day like in market research? The answer is: "it depends.” What does it depend on? It depends on the type of market research team you work for (client-side or supplier side), your role and title in your organization, the industries or methodologies your organization specializes in, and a numbe
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What Does it Mean for a Market Research Study to be Blinded?
Posted at: 10/22/2020 1:48 PM
One of the most frequent questions our market research company hears is, "What does it mean or a market research study to be blinded? Let's say you've decided to field an online survey among the customers of your product or service. Before you start designing the questions and moving too far ahead, there is an important question to ask yourself: do I want to want to remain anonymous as the sponsor of the survey? If the answer to that question is "Yes," then the best option for your market res
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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
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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
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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
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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
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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
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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 testin
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What is a Red Herring? | Definition, Benefits, and Sample Questions
Posted at: 5/13/2020 12:30 PM
What is a Red Herring Question? One way to separate the true survey respondents from the reward giveaway abusers is to insert a red herring question in your questionnaire. A red herring question is a quality control measure in a survey by which you place oddball questions within a series of regular questions to easily identify those who fully read and engaged in the survey and those who are not. At the conclusion of fieldwork, you can filter your data to show the respondents who need to be
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What is Net Brand Advocacy (NBA) in Market Research?
Posted at: 1/29/2020 1:30 PM
Is NPS or Net Promoter Score the “best” metric? Market research pros often use NPS as a starting point to help understand customer satisfaction and behaviors. However, it’s important to understand other factors affecting customers that NPS does not take into account. It’s also important to understand metrics like this will always be evolving. This is where net brand advocacy (NBA) comes into play. First, what is NPS? Net Promoter Score (NPS) is a popular metric used by organizations to shed l
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What is a Simulated Test Market (STM)? | Qualitative Research Company
Posted at: 12/4/2019 5:37 PM
Wondering what a simulated test market (STM) is? Our qualitative research company has the answers to common questions surrounding this methodology! An STM is another form of qualitative market research. For many qualitative research projects, the goal is to explore an idea with specific types of people. More specifically, the goal of a simulated test market project is to better understand potential customers and the reasoning behind their decision making. The results can power strategies to im
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What are Gang Surveys in Market Research?
Posted at: 11/14/2019 5:27 PM
In the market research world, you are never short of choices of methodologies. One of the less popular market research services is gang surveys. Gang surveys in market research are conducting in a facility where a group of people travel to the location to test, view, touch, and feel a product and immediately provide feedback through a survey. These become a quick way to test a new product and gather immediate feedback. Working with a partner or market research consultant familiar with the indu