Market Research Glossary
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![Blog: Statistical Significance in Market Research [Types & Examples]](/media/5578/analyzing-statistics.jpg)
Statistical Significance in Market Research [Types & Examples]
Posted at: 7/10/2023 12:30 PM
If you have ever encountered market research data, chances are you have heard the phrase, “statistically significant.” It sounds great, but what does it actually mean? Statistical significance in market research refers to the likelihood that observed differences or relationships between variables are not due to random chance but are meaningful and reliable. By applying significance testing in market research, researchers can gain insights into the effectiveness of different marketing approac
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What is a Nested Sample? [+ Examples and Uses]
Posted at: 6/29/2023 12:30 PM
One powerful technique within market research is the use of nested sampling, a strategic approach that allows researchers to delve deeper into the intricacies of a population. By employing a nested sample design, researchers can investigate specific subgroups within a larger population, enabling them to gain valuable insights into consumer behavior, preferences, and market segments. In this blog post, we will explore the concept of nested sampling, its benefits, examples, and how it contribu
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Explaining the Market Research Process [With Examples]
Posted at: 5/23/2023 12:30 PM
In today's rapidly evolving business landscape, staying ahead of the competition requires more than just a great product or service. It demands a deep understanding of the market, consumer behavior, and emerging trends. This is where the market research process becomes invaluable. In this blog post, we will delve more into market research and explore its significance in driving business success. We will also walk you through each step of the market research process, offering practical examp
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Primary Market Research: What Is It and Why Is It Important?
Posted at: 5/15/2023 12:15 PM
In today's highly competitive business landscape, companies need to stay ahead of the curve to succeed. One of the best ways to do this is by conducting primary market research. Primary market research involves gathering first-hand data from potential customers, clients, and stakeholders to better understand their needs, preferences, and behaviors. By doing so, companies can identify new opportunities, mitigate risks, and make more informed decisions. Read on to find out what primary market
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Explaining Semantic Differential Scales [+ Example Questions]
Posted at: 5/4/2023 12:30 PM
Semantic differential scales are a popular type of survey question used in market research to measure attitudes toward a particular concept or object. This type of scale uses a series of bipolar adjectives or phrases to evaluate the respondent's perception and evaluation of a concept or object. In this blog post, our market research company explains what semantic differential scales are, how they work, and provide examples of different types of questions to help you understand how to use them
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Hybrid Research: Combining Qualitative & Quantitative Methods
Posted at: 4/10/2023 12:30 PM
Deciding between qualitative or quantitative research methods? Who says you have to choose? With hybrid market research, you don't have to. No matter your business objectives or goals, there are a number of qualitative or quantitative methodologies at your disposal. Each method is designed to answer a specific question in order to get desirable and actionable results. But, with hundreds of types of market research methodologies to choose from, it is easy to get bogged down in choosing just on
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What is Data-Driven Decision Making? (And Why It's So Important)
Posted at: 3/27/2023 12:30 PM
As human beings, we often make split-second decisions based on feeling and intuition, without taking the outcome or consequence into account. We can’t always help it, we are emotional and empathetic creatures after all! But, when it comes to making business decisions, it is crucial to take all external factors into account before taking any decisive action. Through the process of data-driven decision-making (DDDM), organizations can ensure that their business goals and objectives are guided
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What is Incidence Rate (IR) in Market Research?
Posted at: 3/24/2023 12:30 PM
This article will give you a better understanding of incidence rate in market research detailing exactly how low and high IRs can impact the feasibility and cost of your market research study. What is Incidence Rate (IR) in Market Research? Incidence rate (IR) in market research is defined as the number of respondents from a sample pool that will qualify for your study. It is often synonymous with the qualification rate. High incidence rate means a greater number of people qualify for the
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Dyads & Triads in Market Research: What's the Difference?
Posted at: 3/20/2023 12:30 PM
In this article, we'll walk you through an explanation of dyads and triads, examples of how they are used in market research, and their benefits over traditional qualitative methodologies. What are Dyads in Market Research? Dyads in market research are qualitative research discussions consisting of 2 participants together, led by a moderator. The two people selected for the dyad will either come as a pair who know one another, or two strangers that have never met. Common examples of dyads
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What is Mobile Ethnography? [Definition, Examples & Benefits]
Posted at: 3/9/2023 1:30 PM
In the market research industry, mobile ethnography provides valuable insights and can have several key advantages over other types of market research methodologies. The flexibility of mobile market research approaches combined with the above benefits creates a strong return on investment. Our market research company details more about what mobile ethnography is, the benefits of using it, and example studies. Interested in conducting a mobile ethnography study? We can help with that too. Co
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What is Regression Analysis & How Is It Used?
Posted at: 3/8/2023 1:30 PM
Regression analysis helps organizations make sense of priority areas and what factors have the most impact and influence on their customer relationships. It allows researchers and brands to read between the lines of the survey data. This article will help you understand the definition of regression analysis, how it is commonly used, and the benefits of using regression research. Interested in using regression analysis? Drive Research can help with that too. Reach our market research company
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![What is a Pilot Study? [+ Benefits, Examples, & Process]](/media/5227/paper-plane-path.png)
What is a Pilot Study? [+ Benefits, Examples, & Process]
Posted at: 3/6/2023 1:30 PM
A pilot study sets the stage for a long-term successful market research project. Walk before you run. Don't bite off more than you can chew. Start small. You've heard them all and a pilot market research study employs the same approach. In this post, we'll cover everything you need to know about pilot surveys – their importance, examples, and steps to completing a successful study. Interested in conducting a pilot study? Get a quote from Drive Research. Contact our market research compan