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Market research terms

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Market research terms

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Market research terms

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Market research terms
 

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Market research termsOnline version

Market research terms

by Hue Chi
1

A type of cluster sampling where clusters are created based on the geographic location of the population of interest.

  
  
2

A term describing the significant volume and variety of data available to organizations and the increased frequency in which they are generated. It's increasingly important in market research for uncovering insights.

  
  
3

The use of physiological or behavioral characteristics to identify and verify a person's identity. In market research, it's used to authenticate survey respondents and measure physical responses to stimuli.

4

CAPI - A method where laptop computers, tablets, or mobile devices are used instead of paper-based questionnaires for face-to-face interviewing. It allows for more complex questionnaires and immediate data entry.

        
  
  
  
5

A type of decision tree technique based on significance testing. It's used to create rules to classify future respondents into identified groups or detect interrelationships between different questions. (CHi Squared Automatic Interaction Detection)

6

A statistical technique used to group similar objects or individuals. In market research, it's often used for market segmentation, grouping consumers with similar characteristics or behaviors.

  
  
7

  
  
8

A prediction of the net profit attributed to the entire future relationship with a customer. It's used to determine how much to invest in acquiring or retaining a customer.

        
  
  
  
9

Refers to how customers feel or perceive all aspects (touchpoints) when they buy goods or services or interact with a business. It's crucial for understanding and improving customer satisfaction and loyalty.

  
  
10

The process of adding game-like elements to a research activity to engage participants and collect data in a more interactive way. It can lead to better quality data by making surveys more engaging and fun.

11

A data gathering approach where information is collected on the behavior of people, objects, and organizations without any questions being asked of the participants. It can provide insights into natural behavior.

12

An analysis technique which involves the positioning of objects in perceptual space. Frequently used in determining the positioning of brands relative to their competitors.

  
  
13

The process of dividing markets into groups of people or occasions that are similar to each other, but different from other groups. It's used to target marketing efforts more effectively.

14

A research approach where observers use a record sheet or form to count phenomena or to record their observations. It provides a systematic way of collecting observational data.

  
  
15

(SOV) A measure of the proportion of advertising a brand or product receives compared to others in the same category. It helps understand how often a brand is advertised relative to its competitors.

     
  
  
16

When designing a questionnaire, routing refers to the survey logic that allows you to change or limit the content based on previous answers given by respondents. Also known as branching or skip logic.

17

A method that invites respondents to take a survey via online banners, ads, promotions, offers, and invitations placed on various websites and social media. Respondents are screened and routed to appropriate surveys based on their characteristics.

  
  
18

A qualitative research method used to study online communities. It involves the systematic observation and analysis of the interactions, communications, and content generated by a group of people on the internet.

19

(NPS) A measure of customer loyalty and advocacy, calculated by asking customers how likely they are to recommend a company's products or services to others. It's widely used as a simple metric of customer satisfaction and loyalty.

     
  
  
20

A statistical technique used to visualize the level of similarity of individual cases in a dataset. In market research, it's often used to create perceptual maps of brands or products.

  
  
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