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A
- Audience Segmentation: The process of dividing a broad consumer or business market, typically consisting of existing and potential customers, into sub-groups of consumers based on some type of shared characteristics.
- Advertising Research: A type of research used to evaluate the effectiveness of advertising campaigns, messages, and channels in reaching and influencing the target audience.
- Awareness: The level of recognition that a target market has about a product, brand, or service.
B
- Benchmarking: The process of comparing your company’s performance, products, or services against industry standards or best practices.
- Brand Perception: How consumers perceive a brand based on their experiences, interactions, and overall impressions.
- Behavioral Segmentation: The practice of dividing a market into segments based on consumer behaviors such as purchasing patterns, brand loyalty, usage, or buying motivations.
C
- Consumer Behavior: The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products and services.
- Customer Journey: The complete experience a customer has with a brand, from initial awareness to post-purchase behavior.
- Competitor Analysis: The process of evaluating the strengths and weaknesses of current and potential competitors in the market.
- Cross-Tabulation: A statistical technique used to examine the relationship between two or more variables by organizing data in a matrix format to make comparisons.
D
- Demographic Segmentation: The division of a market into groups based on demographic variables such as age, gender, income, education, occupation, and family size.
- Data Collection: The process of gathering information from primary (surveys, interviews) or secondary (reports, articles) sources.
- Descriptive Research: A type of research aimed at describing characteristics of a population or phenomenon. It does not explain why something happens.
E
- Ethnographic Research: A qualitative research method that involves observing and studying people in their natural environments to understand their behaviors, attitudes, and interactions.
- Exploratory Research: Initial research conducted to clarify and define the nature of a problem. It is used when there is little to no information available about the topic.
F
- Focus Group: A qualitative research method where a small group of people are guided by a moderator to discuss a product, service, or idea. It helps gather in-depth insights and opinions.
- Forecasting: The process of predicting future trends or market demand based on current data and statistical models.
G
- Geographic Segmentation: The division of a market based on location, such as country, region, city, or climate.
- Gross Rating Point (GRP): A measure used in advertising to gauge the impact of a campaign, calculated by multiplying the reach (percentage of target audience) by the frequency (number of exposures).
H
- Hypothesis: A statement or assumption made before research is conducted, based on observations or existing knowledge, which the research will seek to prove or disprove.
I
- Independent Variable: A variable that is manipulated in an experiment to determine its effect on the dependent variable.
- Incidence Rate: The percentage of people in a population who qualify for a survey or research sample based on specific criteria.
- Inferential Statistics: Statistical techniques that allow researchers to make predictions or inferences about a population based on a sample of data.
J
- Judgment Sampling: A non-probability sampling method where the researcher selects respondents based on their judgment or expertise.
K
- KPI (Key Performance Indicator): Metrics used to evaluate the success of an organization or particular activity in which it engages, often used to assess the effectiveness of marketing strategies.
L
- Loyalty Program Research: Research that evaluates how loyalty programs influence customer retention, engagement, and spending behaviors.
- Lookalike Audience: A group of individuals who resemble your existing customers in terms of behaviors, interests, and demographics, often used in digital marketing for targeting.
M
- Market Segmentation: The process of dividing a broad market into smaller, more manageable sub-markets based on specific characteristics such as demographics, psychographics, or behaviors.
- Market Share: The percentage of total sales in a market held by a particular company or brand.
- Marketing Research: The process of gathering, analyzing, and interpreting information about a market, including information about the target audience, competitors, and the industry.
N
- Net Promoter Score (NPS): A metric used to gauge customer loyalty by asking customers how likely they are to recommend a product or service to others on a scale from 0 to 10.
- Non-Probability Sampling: A sampling method where respondents are chosen based on subjective criteria, rather than randomly, leading to non-representative samples.
O
- Observation Method: A research technique in which researchers observe consumer behavior in a natural setting to gather insights into their actions without direct interaction.
- Open-Ended Questions: Questions that allow respondents to answer in their own words, providing richer, qualitative insights compared to closed-ended questions.
P
- Primary Research: The collection of original data directly from sources such as surveys, interviews, or focus groups.
- Product Life Cycle (PLC): The stages a product goes through from introduction to growth, maturity, and eventual decline, affecting marketing strategies.
- Probability Sampling: A sampling method in which every individual in the population has an equal chance of being selected for the survey, leading to a representative sample.
Q
- Qualitative Research: A type of research that focuses on understanding the underlying reasons, opinions, and motivations behind consumer behavior. It uses methods like interviews and focus groups.
- Quantitative Research: A type of research that focuses on gathering numerical data, such as surveys with closed-ended questions, and is used to quantify attitudes, opinions, or behaviors.
R
- Random Sampling: A method of sampling in which each individual in the target population has an equal chance of being selected for the research sample.
- Respondent: A person who answers questions in a survey or interview as part of a research study.
S
- Secondary Research: The process of gathering data from already published sources, such as reports, industry studies, or government statistics.
- Survey Research: A research method that involves asking a large sample of people questions to collect data on their opinions, behaviors, or preferences.
- Segmentation Criteria: The characteristics used to divide a market into different segments, such as age, income, geographic location, or buying behavior.
T
- Target Market: A specific group of consumers that a company aims to reach with its products, services, and marketing efforts.
- T-Test: A statistical test used to compare the means of two groups and determine if there is a significant difference between them.
U
- Usage Data: Data related to how often and in what manner consumers use a product or service.
V
- Validity: The extent to which a research study or survey accurately measures what it is intended to measure.
- Variable: Any characteristic or factor that can vary, such as age, income, or satisfaction level, and is measured in research studies.
W
- Web Scraping: The process of extracting data from websites to gather market intelligence, competitor analysis, or consumer sentiment.
- Wearable Tech Research: The study of consumer preferences, behaviors, and trends in relation to wearable technology products such as smartwatches and fitness trackers.
X
- X-Factor: A unique quality or characteristic of a product, brand, or service that gives it a competitive advantage.
Y
- Yield Management: The process of maximizing revenue from a fixed, perishable resource (like hotel rooms or airline seats) through strategic pricing and inventory management.
Z
- Zeroing in on Your Target Market: The process of narrowing down your target audience by segmenting it based on specific behaviors, needs, and desires, focusing your marketing efforts on the most relevant and profitable groups.