Market Research Analysis
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What are Wearables in Market Research? Explaining the Pros and Cons of Wearable Technology
Posted at: 6/8/2020 12:30 PM
As we begin the 2020s, many of us have been reflecting on what we experienced during the previous decade. Among all the technological innovations like virtual reality (VR), artificial intelligence (AI), and cloud computing, I would argue one of the most intriguing inventions to rise in popularity was wearable technology. What are Wearables? Wearables are smart devices that people attach to themselves to typically measure or track something. The device can then communicate with another de
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How to Increase Sales for Furniture Stores with Market Research
Posted at: 5/21/2020 12:30 PM
If you are in the furniture business, you don’t need our market research company to tell you how challenging it can be. Factors like daily operations, fierce competition, online retail, and evolving consumer needs are just some of the obstacles to growth in the industry. Marketing and advertising for a furniture store are especially important components of its growth. However, with significant potential spend in these areas, it is essential to make well-informed decisions. Market research c
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Market Research Options for Museums | 3 Methodologies for the Arts and Culture Industry
Posted at: 5/9/2020 5:50 PM
Museums have their own challenges just like any other organization. Some struggle to increase attendance, while others may have difficulty with visitor engagement. Issues like these are often best addressed with a market research study. Proper research will equip a museum with data, insights, and a roadmap for improving their organization. If you work in the arts and culture industry, perhaps you have thought about market research in the past but written it off for one reason or another. Barri
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2020 U.S. Census | What Impact Does Census Data Have on Market Research?
Posted at: 5/3/2020 12:30 PM
The 2020 Census is the most significant market research conducted by the federal government this year. The goal is to gather demographic information for every individual living in the United States once a decade. Data from the Census is ultimately used to determine congressional representation, help allocate federal dollars, and act as a resource for business owners. Did you also know the United States Census has implications for the market research industry as a whole? The resulting data fr
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10 Lessons I’ve Learned as a Market Research Analyst
Posted at: 5/2/2020 12:30 PM
At the time of this blog post, I have been a Research Analyst at a market research company known as Drive Research for a little over a year and a half. By making the jump from an assistant to an analyst after a few years in the industry, I’ve experienced more of the methodologies and practices within market research. As you can imagine, I didn’t pick up on all the nuances overnight. Fortunately, each misstep is an opportunity to learn something new and improve. Below are the top ten lessons,
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How to use Market Research to Improve SEO and Paid Social Media
Posted at: 5/1/2020 12:30 PM
In today’s market, optimizing SEO and paid social media strategies are major strengths to businesses. What is SEO? SEO stands for search engine optimization. Businesses use search engine optimization to promote their brand, products or services to current and potential customers. Every business is unique. In fact, the method of promoting a business using SEO can depend on several factors such as the target audience, business goals, and objectives. With this information, our market research co
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DIY Research to Consider During a Pandemic | 3 In-house Methodologies for COVID-19
Posted at: 4/29/2020 3:28 PM
Due to rising economic concerns, third-party market research may no longer be within your budget. This does not mean you should completely forgo all plans to conduct research because of COVID-19. In this blog post, our market research company will share three valuable do-it-yourself or DIY research options that are still available to you and your team. Is outsourced market research currently not an option due to COVID-19? See if any of these three DIY research approaches can help. Continu
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How Does Text Analysis Work in Market Research?
Posted at: 4/28/2020 12:30 PM
One of the most time-intensive tasks in research is analyzing large amounts of open-ended data typed by research participants. If you’ve never done it, trust me on this one. Text analytics helps users better understand the results of open-ended text typed by survey participants, customers, or general consumers. Examples could include survey questions that have a text box for participants to type their answers, social media posts, and online reviews or ratings. The way researchers have tradit
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2020 Census | Why Did the Census Move to Online Data Collection?
Posted at: 4/26/2020 12:30 PM
The U.S. Census is upon us once again for 2020! I like to think of the Census as essentially a national market research study mandated by the U.S. Constitution. Demographic data is collected via a survey for every individual living in the country, similar to how our market research company finds survey respondents for a variety of businesses. You may have noticed this decade’s Census has an option to respond online. For those wondering, the 2020 Census will still accept mail responses to acc
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What is an Ideal Client Avatar (ICA)? | How to Build One Using Market Research
Posted at: 4/22/2020 12:30 PM
One of the growing trends in the marketing space is the creation of an Ideal Client Avatar (ICA). An ICA is a persona or description of your perfect client or customer: what they like, how they behave, loyalty to your brand, and how they conduct business with you. The concept is nothing new. An ICA is another version of what market research companies have been building on behalf of brands for years. ICAs of the past often go by names like personas, segmentation, and other forms of labeling diff
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Should You Conduct Market Research During a Crisis?
Posted at: 4/3/2020 12:30 PM
There is a lot of communication throughout business-to-business (B2B) and business-to-consumer (B2C) industries when a health crisis or pandemic occurs. During a crisis, the everyday status-quo within an organization and its particular industry feels like it’s completely flipped from where it was weeks or even days prior. Currently, the world is facing a global pandemic, known as COVID-19. Right now a lot of organizations are in fear for the future, while others are facing challenges right now
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What is the Most Cost-Effective Market Research Methodology?
Posted at: 3/29/2020 12:30 PM
With market research, you are never short of options. There are hundreds of qualitative and quantitative methodologies, each with their own advantages and disadvantages. A top factor of choice when deciding which market research study to conduct is cost. While it is important to find a methodology most closely aligned with your project goals and objectives, our market research company understands budget plays a large role in our client’s final decision. So this begs the question – what is the