Market Research Glossary
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What is Group Effect or Group Bias? | 101 Market Research Guide
Posted at: 1/31/2019 4:27 PM
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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Posted at: 1/8/2019 9:40 PM
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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What Makes a Bad Survey? | Market Research Survey Tips
Posted at: 11/16/2018 8:37 PM
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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3 Reasons Market Research is Important for Business
Posted at: 11/15/2018 8:04 PM
According to the U.S. Small Business Administration there are over 32.5 million businesses in the United States 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 optio
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B2C and B2B Market Research | The Difference and Benefits
Posted at: 9/24/2018 7:17 PM
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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What is Collectively Exhaustive in Market Research? | 101 Glossary
Posted at: 6/18/2018 2:32 PM
Survey writing is a science. In order to eliminate bias and obtain accurate results for your market research study, you want to ensure the questions are worded properly. Poorly written surveys can create a disaster when it comes to interpreting the data and taking action with the results. One of the most commonly used terms in survey writing is what is called collectively exhaustive. In this post I will go into greater detail on its meaning and some examples. Drive Research uses the term col
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What is the Best Market Research Methodology?
Posted at: 2/14/2018 7:17 PM
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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What Makes a Great Research Interviewer?
Posted at: 2/9/2018 6:32 PM
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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What is CPI in Market Research? | Glossary
Posted at: 10/6/2017 5:53 PM
When you work with an online panel vendor you will undoubtedly be quoted a CPI. When you saw this acronym first come by your inbox you probably had no idea what it meant. Sound about right? You may have seen CPC (cost per complete), LOI (length of interview), or one of these 20 market research acronyms you need to know but CPI? In this market research glossary post you'll learn about CPI, what it means, how it impacts your market research survey, and how the cost changes. CPI is one of the mos
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20 Market Research Terms You Need to Know | CX Company Upstate NY
Posted at: 9/9/2017 1:57 PM
So many terms. If you work in market research long enough you'll come across hundreds of terms and industry acronyms. We won't cover all of them in this blog post today, but we'll cover 20 of the major or more common ones. As a customer experience (CX) company in Upstate, NY we use these terms on a daily basis with our clients. We'll help you decipher the market research code on several terms. 1. VoC VoC stands for Voice of Customer (VoC). VoC is a type of market research that focuses on
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What is an Accompanied Shopping Trip (AST)? | Market Research 101
Posted at: 7/27/2017 6:03 PM
Think market research and data is boring? Clearly you haven't heard about Accompanied Shopping Trips (ASTs) and shop-alongs. Not all methodologies involve sitting behind a laptop drafting an online survey or standing in front of a group of 10 people while your clients watch behind a one-way mirror. Several other beneficial in the moment methodologies exist to collect feedback in a consumer's natural environment. In the case of AST, that natural environment just happens to be in a retail setting
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What is Order Bias? | Market Research Consultant
Posted at: 6/1/2017 8:48 PM
When it comes to bias in market research, it's hard to keep track of the number of variables and influencers which could impact your results positively or negatively. Bias wears many faces. It's everywhere. Bias finds it way into every step of the market research process. As a market research consultant you need to identify and neutralize bias as much as possible. Identifying bias is something that you learn and getting better with over time. As your years in market research go by, identifying