Market Research Glossary

  • 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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  • journey-mapping-market-research-03062018

    What is Journey Mapping in Market Research?

    Market researchers can be creative. No really. We can be. Even today, people still think about market research professionals as statisticians, math people, or numbers-gurus. We still hold those associations close to heart, but our job involves so much more than just numbers. It forces us to think about market research differently. Not as a single solution, but as a service that integrates all facets of an organization. As infographics, data visualization, and dashboards have grown in market res

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  • idis-interview-market-research-02152018

    What Are IDIs? | In-depth Interviews Market Research

    Wish you could have a conversation with key customers or target consumers? In-depth interviews (IDIs) are what you have been seeking! As a market research company serving organizations from coast to coast, we know all about IDIs and can walk you through everything you need to know about this market research methodology. We also know choosing a research methodology can be tough if you are new to research or unsure about the benefits of different research methodologies. The decision on what metho

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  • market-research-methodology-02142018

    What is the Best Market Research Methodology?

    The best methodology in market research is in the eye of the beholder. Each unique method has pros and cons. What is a benefit to one methodology might cause a drawback to another. Choosing the best market research methodology is a bit of a science. Understanding project objectives, outcomes, and needs help drive direction on which path to choose. Choose the right path. Use a market research firm to help you decide on which methodology best addresses your project objectives. Here are 3 unique

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  • great-research-interviewer-in-depth-market-02092018

    What Makes a Great Research Interviewer? | In-Depth Interviews (IDI)

    So you are curious about in-depth interviews (IDIs) and wondering what makes a great research interviewer? Drive Research to the rescue! IDIs are a type of qualitative market research used to explore new topics or ideas. For example, a company may decide to conduct IDIs if they were in the planning stages for developing a new product. We like to think of qualitative research as a tool to explore, while quantitative research is used to measure. An awesome research interviewer has a greater tale

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