Market Research Analysis
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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
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Competitive Analysis Market Research Company | New York
Posted at: 3/19/2020 12:30 PM
You know the saying, “keep your friends close and your enemies closer.” Perhaps no other statement can be more reflective of the need for a strategic competitive analysis from a market research company. Competitive intelligence or CI is a growing need among companies and brands to help organizations understand how they compare on key components such as websites, service offerings, pricing, marketing approaches, and social media. All of this can be answered as part of a competitive analysis mar
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Conducting Market Research? How to Choose the Best Methodology
Posted at: 3/18/2020 12:30 PM
Thanks to the Internet and its widespread use across the entire globe, conducting market research has certainly evolved from traditional methodologies. With the simple click of a button, you can send out thousands of surveys instantly to recipients all over the world. It is important to note, however, that online methodologies aren’t the only way to conduct secondary research. There are other useful ways to collect data. Our market research company always recommends taking a close look at your
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4 Market Research Methodologies to Consider During the COVID-19 Outbreak
Posted at: 3/16/2020 12:30 PM
Colleges are suspending in-person classes, large events such as Coachella and the New York International Auto Show have been rescheduled, and the media is flooded with the latest COVID-19 news. The world is in panic mode while trying to prepare for and control the outbreak of the new virus. COVID-19, commonly known as the coronavirus, will certainly put a pause to in-person qualitative research methods for the meantime. However, there are a number of market research methodologies we can explore