Market Research Glossary
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What is Paradata in Market Research?
Posted at: 5/30/2017 8:44 PM
In a market research survey, not all data is derived from the respondent. Several other data points can prove extremely useful and valuable come analysis time beyond the primary feedback received directly from survey respondents. This additional data can be reviewed and analyzed much like customer feedback. When combined with customer feedback it adds significant value to your market research analysis and reporting. What is paradata in market research? What is Paradata? Paradata is data c
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What is Laddering? | Market Research Company Albany, NY
Posted at: 5/27/2017 8:30 PM
When customers are asked why they use a product, service, or company they almost always immediately jump to a feature. "I bought these sneakers because they are colorful." "I bought this office chair because it matched our decor and it was inexpensive." "I bought that cereal because I like the taste." However, the idea behind and core benefit of qualitative market research is the ability to ask why and dig deeper with individuals. The classic features versus benefits argument is something that
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What is Validation in Market Research? | Voice of Customer (VoC) Rochester
Posted at: 5/24/2017 2:07 PM
As the days of one-way passive market research communication through online surveys and mobile surveys have become the norm, data quality has come under the microscope. Since Voice of Customer (VoC) firms in Rochester like Drive Research are at the mercy of what is typed by a respondent, additional time must be taken to ensure data quality on the back-end. This one-way communication where a respondent fills out an online survey without any human-to-human interaction leaves the window open for sp
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Market Research Glossary | Market Research Buffalo NY
Posted at: 4/5/2017 8:18 PM
The market research industry is never short of acronyms and terms. Some are more easy to define than others. However, for small business who may not have much experience in the field, the types of market research studies and methodologies available to them can easily become overwhelming. With the small business in mind and those who may not have the depth and breadth of experience in market research, we decided to create a short glossary. The questions below are almost a FAQ of some key industr
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What is a Research Panel? | Market Research Company Albany, NY
Posted at: 3/15/2017 7:18 PM
Market research panels are growing in popularity among all organizations. As a market research company serving Albany and Upstate New York, Drive Research has worked with a number of organizations to help them build their in-house research panels. Requests to build a research panel have grown tremendously in the past 5 years. We all know there is a lot of market research and survey noise in the industry. Consumers are being asked left and right to complete surveys from everything from hamburger
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Market Research FAQs | Market Research Company Buffalo NY
Posted at: 3/9/2017 8:01 PM
Market research is all about questions. So it may come as no surprise several questions exist about the market research process as well. How does it work? How is a methodology chosen? How do I get started? We help clients who are new to market research answer these questions on a daily basis. We decided to tackle a few of the more common market research FAQs in this post. This is a compilation of the most beneficial and most frequently asked questions by clients and potential clients. You have
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What is Seeding in Marketing Research? | Market Research Firm Rochester, NY
Posted at: 1/27/2017 4:10 PM
Nowadays businesses both large and small use customer databases and utilize sales systems and CRM tools to organize data. These systems like Salesforce and Oracle track customer records on everything from contact information to sales transactions and ordering. The best companies find ways to integrate these systems together so insights and analysis can be pulled from all of these big data sources. When it comes to customer surveys it should be no different. The benefit of using the customer fee
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What is an Image & Awareness (I&A) Survey?
Posted at: 1/17/2017 2:22 PM
What is an I&A Survey? An I&A survey is an abbreviation for Image & Awareness Survey. This type of market research is designed to obtain both awareness levels and brand equity for specific brands, organization names, products or services. An I&A survey is typically conducted with a random sample of respondents since the main goal is to assess awareness levels among target markets. Why Does an I&A Survey Collect Data From Customers and Non-Customers? In order to assess awareness of a brand
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5 Common Acronyms | Market Research Company Rochester NY
Posted at: 1/4/2017 7:37 PM
No industry is short of abbreviations and acronyms. Those working in the field for 10+ years may use these repeatedly not understanding that a newcomer to the industry may have no clue as to what you're talking about. Market research is no different, so here are a few acronyms we commonly use with a short definition of each. DNQ (Did Not Qualify) This is a term often used in a survey or recruitment log in which the respondent file is noted to indicate the disqualified based on the requiremen
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What is Sentiment Analysis? | Market Research Company
Posted at: 12/27/2016 7:06 PM
Sentiment analysis is a type of market research that's been thrown around a bit more of late. It's been of particular interest over the past decade or so as social media usage has exploded. Brands realize that consumers are talking about their products and forming opinions every second of every day on social media. As a result, companies are trying to quantify all of these perceptions and attitudes towards their brands, products, and services. Conversation is happening, and sentiment analysis at
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What is a Data Scientist? | Market Research Company Buffalo NY
Posted at: 12/18/2016 4:58 PM
Marketing reseach is not short on new trends, methodology nicknames, acronyms, and trendy skills. Sometimes it reminds me of the Subway's "Sandwich Artists." Not a day goes by where you will not see an article about either big data, data visualization, or business intelligence (BI). One of the growing professions in the field has been what is called a "Data Scientist." What is a data scientist? A data scientist is a person who can perform advanced forms of analysis to generate insights and
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What is a MROC? | Marketing Research Company Syracuse, NY
Posted at: 12/16/2016 4:49 PM
There is a difference between a MROC and an online panel. What is a MROC? A MROC is short for Market Research Online Community. A MROC is defined as a group of pre-qualified and interested participants who share a commonality or expertise in a certain field that can be accessed at any time for marketing research needs. The MROC members are typically utilized regularly throughout the year by a company or research firm for various qualitative and short quantitative studies. They are viewed as