Our market research company keeps the pulse on the latest and greatest in the industry so you don't have to. We don't just talk market research, we live it, we write about it, and we share it. Our fingers hurt because of it. Often. Learn more about market research basics, tricks, trends, and ideas. Grab a fresh coffee, there is so much here, you'll need it.
Market Research Company Blog
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Using a Conjoint Choice-Based Model to Determine Product Cost
Posted at: 10/19/2022 12:30 PM
Nailing the pricing of a product or service is not easy. Therefore, when businesses use market research, asking how to best price their product or service is always a common request. Feedback on pricing through market research can help a business feel more confident that they are providing an optimal price point for their customers. Unfortunately, there is no easy way to tackle price in a survey. A pricing market research project will present several sophisticated models and approaches to
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Should I Hire a Market Research Firm? Absolutely.
Posted at: 10/14/2022 12:30 PM
Let me start off by saying: I get it. I completely understand the importance of research results. I’ve directly witnessed large, international companies make major changes based on research I played a part in. I have witnessed products pulled from shelves, actors fired from movies, or a complete rebranding of entire organizations based on feedback collected on projects I played a role. Your market research results matter. A lot. It can be hard to take a step back and hire a market research
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Measuring Your Bank or Credit Union's NPS
Posted at: 10/14/2022 12:30 PM
How likely are customers or members willing to recommend your financial institution? It's an extremely important question - but one that only a few banks or credit unions seek the answer to. Net promoter score (NPS) is a powerful tool used by many brands across industries to measure customer satisfaction and identify their happy clients and the not-so-happy ones. Undoubtedly, calculating NPS is beneficial for those in the financial sector as it quickly identifies areas that need improvement
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What is Executive Interviewing? Surveying Hard-to-Find B2B Leaders
Posted at: 10/13/2022 12:30 PM
Generally, market research surveys aim to reach decision-makers, whether this is household consumers or corporate professionals. When comparing the differences between B2B and B2C audiences, corporate B2B professionals and customers can be much harder to reach. Executive interviewing is based on the notion of surveying high-level business professionals. However because this audience works in a business environment, high response rates can be much harder to achieve. This is perhaps the bigges
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Surveying Pediatricians: How to Collect Data from Children’s Doctors
Posted at: 10/12/2022 12:30 PM
In a field as fast-paced as medicine, healthcare brands are consistently pumping out new, innovative products. In addition to the added competition, the process of purchasing and selling medical technologies is constantly evolving. Our healthcare market research company could argue that pediatric services and products are some of the fastest items to evolve on the market. Parent demands are high, as is the need for keeping their children healthy. To remain competitive, it is important to ea
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4 Market Research Options for the Hotel and Hospitality Industry
Posted at: 10/11/2022 12:30 PM
The hospitality industry is massive. For context, the hotel market is made up of over 4 million rooms worldwide. In addition to the growing competition in this sector, it is also one that is constantly changing. That's largely due to the fact that the behaviors, preferences, attributes, and purchasing decisions of travelers are always evolving. To keep up, many hotels, resorts, motels, inns, and other tourism destinations have turned to different types of market research. Whether it be usin
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45% of People Admit to Texting and Driving (+ Other Car Driver Stats)
Posted at: 10/7/2022 12:30 PM
No one is a perfect driver every time they get on the road. From going over the speed limit to sending a text message while driving, most people have exuded bad driving behavior before. However, a survey conducted by our market research company, shows that some generations and genders are more guilty than others. Drive Research surveyed over 1,800 people across the U.S. to learn what bad driving habits they are guilty of. Key statistics from the national driving survey included: 63% of peo
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Survey Shows What Hygiene Products People Share
Posted at: 10/6/2022 12:30 PM
Is sharing caring when it comes to personal care items and hygiene products like toothbrushes, deodorant, and chapstick? According to experts, these personal hygiene items should not be shared - but in most instances, it's inevitable. Our market research company, Drive Research surveyed 1,813 Americans on what they considered the most critical hygiene habits. From sharing a toothbrush every day to never letting anyone else use their chapstick, our respondents had some very different opinion
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Have a New Banking Product Concept? Here’s How to Measure Demand.
Posted at: 10/4/2022 6:29 PM
The financial industry is changing fast, which means banks and credit union decision-makers need to introduce new products and service offerings even faster. For instance, digital banking usage is at an all-time high. It is estimated that 65% of people use online banking features, with digital transaction volume also growing by 10% in 2022. As the transition of people managing their finances online continues to grow, many institutions are looking to introduce new banking product concepts. A
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How to Conduct User Experience For Airline Websites and Apps
Posted at: 10/3/2022 12:30 PM
Over the past several years, the airline industry has been challenged from several angles. From the pandemic to pilot shortages, the industry is in flux - and many airlines are struggling to adapt. Flight delays and cancellations have been plentiful over the past year. In fact, it was reported that more than 88,000 domestic flights were canceled from January to May 2022 alone - putting a dent into the “Great Travel Rebound.” Economic conditions such as rising fuel prices and inflation have
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Surveying Families: How to Recruit Parents & Kids for Market Research
Posted at: 9/30/2022 12:30 PM
After working in recruitment for so many years, I’m no stranger to challenging audiences. There used to be one audience that would make my stomach drop: parents. And that's because parents and kids come with many factors that may dissuade them from participating. However, that was before I learned a few tips and tricks for surveying families, which I’ll outline below. Continue reading this blog to learn more about the challenges of recruiting parents and kids, and suggestions on what you sh
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What are Text Focus Groups? (& Why They're Beneficial)
Posted at: 9/29/2022 12:30 PM
Between the ongoing major shift to digital, long-distance communication, and the rapid advancement of the technology we use to connect in our daily lives, smartphones and texting has become second nature for many of us. So, hosting text focus groups for research discussions seems like a no-brainer, right? Surprisingly, it’s an area little-explored in the world of market research. But the reason for it couldn’t be more timely. According to Pew Research, 97% of Americans 18 and older own cell