Market Research Glossary
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What is Text Analytics? | Market Research Company in Buffalo, NY
Posted at: 11/18/2016 7:18 PM
Market research is always evolving. The challenge is finding new ways to analyze data, text, and information to generate actionable insights and outcomes. A new technique and term that has grown in popularity in the past 5 years is text analytics. What is text analytics? Text analytics is simply a way of analyzing text and generating insights from patterns, trends, and ways of speech. Without text analytics, your open-ends might look something like this: A simple application for text analy
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What is Margin of Error? | Market Research Firm in Central New York
Posted at: 11/4/2016 3:34 PM
Margin of error is a term commonly used in market research. It's the accepted standard for reliability of data with probability and random sampling. It tells us within a certain confidence, how accurate our data really is. But it is often a difficult concept to explain to those not well-versed in statistics or market research. Margin of error typically coincides with three different confidence levels in statistics - either 90%, 95% or 99%. For example, let's say the report you are reading say
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What is the Halo Effect? (+ How to Reduce It)
Posted at: 10/16/2016 2:13 PM
In market research, understanding respondent biases is crucial for accurate data interpretation. The Halo Effect is a great example of market research bias that can significantly impact how individuals evaluate various aspects of a product, service, or company. This blog delves into what the Halo Effect is, provides examples, explores its implications, and offers strategies to mitigate its impact in market research. Defining the Halo Effect The Halo Effect occurs when a respondent's overall
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Explaining Acquiescence Bias in Market Research
Posted at: 10/14/2016 2:10 PM
Acquiescence bias is a common challenge in market research, affecting both qualitative and quantitative studies. This bias occurs when respondents, aiming to please the interviewer or moderator, show a tendency to agree with presented concepts or questions. Understanding and reducing acquiescence bias is crucial for collecting accurate and reliable data. In this blog, our market research company explores what acquiescence bias is, its impact on research, and strategies to minimize its influence
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What is Snowball Sampling? | Market Research Company Upstate NY
Posted at: 10/10/2016 1:55 PM
Market research involves many different types of probabilistic and non-probabilistic sampling methods. I previously covered how the industry as a whole is warming up to directional research using convenience and other non-probability samples because of the budgetary and timeline benefits. Another form of convenience sampling is called snowball sampling (often referred to as referral sampling). What is snowball sampling? Snowball sampling is a form of sampling which begins by randomly selec
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What is Frugging? | Market Research 101
Posted at: 10/3/2016 8:55 PM
If you've ever received a phone call during dinner or family time and heard, "I am on the Do Not Call List. Stop calling me," you're not alone. In the world of market research, such reactions are common. Surveys are intended to benefit consumers by improving products and services, setting appropriate price points, and providing a channel for feedback. Yet, there’s a growing negativity towards these calls, often due to experiences with unethical practices. One such practice is frugging. Wh
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What are Demographics? | Market Research Agency Syracuse NY
Posted at: 9/22/2016 8:16 PM
I've covered a lot of core market research terms and principles on the Drive website through our Market Research 101 category, and this post addresses another one. The term demographics in market research is one of the most well-known and widely utilized terms. Demographics are categorization titles used to describe different populations of people. Some common types of demographic data include: Gender Age Marital Status Household Income Ethnicity Even location categorizations such as ZIP
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What is Ethnography? | Market Research Company Utica NY
Posted at: 9/15/2016 7:59 PM
Ethnography in market research is using observational techniques to study and understand a consumer or user in a given environment. In its simplest terms, ethnography plain old observational research. Watching and learning. It is very popular in the B2C realm and in retail in particular. Many believe ethnographic research incurs less bias than traditional market research methodologies such as surveys and focus groups. Observational research is more pure and can be conducted using eye-tracking
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What are Banner Runs? | Market Research Firm Rochester NY
Posted at: 9/11/2016 8:09 PM
A core piece of market research reporting over the past few decades has been the inclusion of banner runs. Banner runs or banner tables are large data sets showing percentage results from survey questions broken down by splits of categories. An example of a banner run would be: "Q3 - Would you recommend Company XYZ to a friend or family member?" - broken down by categories such as gender, age, region, household income, etc. Essentially what a banner run looks like is a large table or data set
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What is Straightlining? | Market Research Company in Syracuse NY
Posted at: 8/19/2016 6:44 PM
When designing surveys online or for mobile, there's a lot of terminology you may hear or read about on Google but not quite grasp. For instance, straightlining? What is straightlining in market research? Straightlining is the act of selecting the same response over and over again down a line of answers on a survey. Straightlining is most common in grid rating questions. Grid rating questions are typically shown in a table format where your numerical scores are shown along the top (e.g. 0 to
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What is a DMA? Explaining Designated Market Areas
Posted at: 6/20/2016 5:27 PM
Understanding DMAs helps businesses effectively plan and target their advertising efforts, as they delineate the local media landscape and audience reach, ensuring that marketing campaigns reach the intended viewers and listeners. Read our blog to learn more about what DMAs are and their value for marketing research. What is a DMA? A DMA in market research stands for designated market area. A designated market area is used for media, marketing, and advertising buys. Other common terms for a
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What is Coding in Market Research?
Posted at: 6/17/2016 5:23 PM
Coding in market research is the process of taking open-ended comments and categorizing them to allow for data analysis. Many telephone surveys and online surveys include at least a few open-ended questions. An open-ended question is when a respondent is questioned and can answer through an open text box. Open-ended questions add considerable length to a telephone and online survey so be careful to not overuse them. At the same time open-ended questions can provide your business with a lot of