Knowledge Bank - A to Z of Market Research

Accessible Population

Accessible population is any population demographic that can easily be recruited for face to face interviews and surveys. Accessible population is usually drawn from the urban population.

Ad hoc Report

Ad hoc Report is a report that is particularly designed to provide an answer for a specific problem and it is usually conducted when there is not enough sufficient information available.

Ad Tracking Report

Ad Tracking Report is a report that is used to present data regarding the evaluation of the effectiveness of an advertising campaign.

Acquisition

Acquisition is the act of taking over a company or corporation by purchasing stocks or through substantial exchanges. The company being acquired is called the "target company".

Advertisement Testing

Advertisement testing refers to methodologies that focus exclusively on advertisement effectiveness, perception and targeting on a given market. It is most frequently used at the design stage for selecting the most effective advertisement from a series of alternatives.

Advertising Research

Advertising Research is a type of research that is conducted in order to develop the efficiency of advertising and has a variety of research techniques. This type of research can focus on different issues concerning advertising such as its general terms and issues and how consumers perceive information from advertisements.

Aggregate

Aggregate refers to the complete amount or the total of all parts. It may also refer to the summary measure such as national income and price index numbers, which are derived by compounding two or more separate measures.

Analysis of Variance (ANOVA)

Analysis of Variance (ANOVA) is a statistical technique that allows values to be tested in order to analyze and determine whether there is a significant relationship that exists between the two or more existing variables. An ANOVA model is used in this technique and it functions by analyzing the quantity of dispersion that is experienced by each given variable to the total number of dispersion available with the given data.

Applied Research

Applied Research is a scientific study which aims to find answers and/or solutions to practical problems. Findings are used to develop technologies, products and services therefore creating business opportunities.

Area Sampling

Area sampling is a type of cluster sampling design targeting geographic areas or wherein the geographic areas are the clusters.

Assessment

Assessment is a process used to determine the net worth of an enterprise or individual and/or the total value of a property. This is then used to compute for the taxes and dues of the individual and/or enterprise.

At-Home Testing

At-Home Testing refers to a product that is used for testing and is given to participants so that they could test the product at home. After using the product, participants are required to share their comments or suggestions regarding the product through different means such as online surveys, personal and phone interviews, group sessions and mail surveys.

Awareness

In business, awareness is the term used to identify the first step in the process of understanding something new, may it be a product or service.

Back Room

Back Room is the place where research or the planning of something confidential is practiced or taking place.

Bench Mark

Bench Mark is a standard used as a point of comparison in measuring quality, value, performance and the like. This can be derived from existing set of standards, laws and regulations, norms etc.

Bias

Bias is an error that occurs in a statistical sampling when the result is arranged to accommodate the desired outcome among others.

Brainstorming

Brainstorming is a technique that is practiced in order to develop a new idea, solve a problem or formulate a new policy. This is where suggestions and recommendations are accepted, analyzed or combined so as to generate a more efficient idea or thought.

Brand Equity

Brand Equity is the financial value, level of awareness or consumer goodwill accrued to a product because of its association with its brand name as opposed to its value without the brand name. Its study has experienced a surge in popularity as some marketing researchers reckon that one of the most valuable assets a company has is its brand.

Brand Image

Brand Image is the identity or quality given by the consumers or industry observers for a specific good or service provided by the manufacturers' sector. More often than not, the factors that contribute to one's perception of a product or service are human attitude and/or lifestyle and desires, price, quality, and usage of the said brand.

Brand Personality

Brand Personality is working on the premise of attributing human personalities on brands; it seeks to describe brands using human characteristics using similar measures of personality attributes and factors. In the same way that people relate to each other, brand personality is used to increase brand engagement and brand attachment.

Brand Recall

Brand Recall is the range in which the messages reflected by advertisements regarding a certain brand are remembered by consumers.

Business Intelligence

Business Intelligence is a field of study that aims to fully comprehend business in general: its problems, recommendations and behavior. This involves a number of factors that must be considered upon making good and relevant decisions. Such factors are the following: customers, internal operations, competitors, business partners and the economic environment.

Business to Business (B2B)

Business to Business (B2B) is a term that refers to the interchange of goods, services and information between two businesses.

Business to Consumer (B2C)

Business to Consumer (B2C) is a term that refers to the interchange of goods, services and information from a business directly to a consumer.

Computer Assisted Personal Interviewing (CAPI)

Computer Assisted Personal Interviewing (CAPI) is an interview method wherein the interviewers directly input data from interviewees through the use of portable computers.

Computer Assisted Telephone Interviewing (CATI)

Computer Assisted Telephone Interviewing (CATI) is a survey that is interviewer-administered over the phone based on a computer generated survey. CATI is used to increase the accuracy, speed, reliability and validity of telephone interviews using software based systems.

Computer-Aided Web Interviewing (CAWI)

Computer-Aided Web Interviewing (CAWI) is a survey that is conducted online where the interviewees can answer questionnaires using the Internet and is used in general for quantitative surveys.

Computer Aided Self-Interview (CASI)

Computer Aided Self-Interview (CASI) is an interview method wherein the interviewee communicates directly with a computer instead of the interviewer.

Census

Census is a survey that gathers data from all available units or members of a population being studied.

Chi-Square Test

Chi-Square Test is a statistical method that is used to determine whether variables are either independent or homogeneous. There are tests conducted for independence and homogeneity, both having the same formula but with different logic and sampling procedures. The chi-square test for independence analyzes whether determining the value of a variable would help in estimating the value of another variable. On the other hand, the chi-square test for homogeneity analyzes whether two populations have the same relative amount of observations with similar components.

Client

The client is any individual or organization that purchases the service, commissions or subscribes to any or all parts of a market research project. Clients may be an advertising agency, a newspaper, a full-service research company or another data collection agency.

Closed-Ended Question

Closed-Ended Question are questions that provide a set of answers such as a simple piece of information, "yes" or "no" or through multiple choices.

Cluster Analysis

Cluster Analysis is a statistical technique that arranges research data to help determine through quantitative comparisons of multiple characteristics to which different groups of individuals of a population belong to. The difference of the contents of each group or "cluster" should be less than the differences between clusters. Cluster Analysis is often used for consumer segmentation and brand marketing research.

Conjoint Association

Conjoint Association is a research technique that seeks to determine how consumers decide by assuming that their decisions are influenced by different factors that are considered to be jointly. This technique demands its subjects to choose a number of specific attributes from a particular selection therefore giving an indication of what is important to them based on the attributes that they have chosen.

Competition

Competition, in business, it is the term used when two or more companies are seeking or taking steps in obtaining what each other is gaining. Often coined as rivalry, it is the act of striving to be the best service provider or product manufacturer in a given industry.

Competitor

Competitors are companies that offer the same services or product in the same market place as another.

Compound Annual Growth Rate (CAGR)

Compound Annual Growth Rate (CAGR) refers to the single rate of growth of a certain value for several years. The growth rate is based from the growth of particular accounts from the base period up to the ending period.

Confidence Level

Expressed a percentage, confidence level, it is a measure of statistical result reliability that indicates the probability of result accuracy.

Consulting

Consulting is a service that provides clients with advice, recommendations and assistance in order to boost their existing businesses while making use of their resources.

Consumer Behavior

Consumer Behavior is a study of consumer buying trends and habits in the usage and purchasing of goods and services. It attempts to understand people's wants by studying the characteristics such as demographics and behavioral variables of individual consumers.

Contractor

Contractor is an individual who is committed to a profession that offers their expert services to the public. A contractor also agrees into doing a specific task and has their own ways and means of implementing the work assigned to them.

Control Group

A control group is a group of people in an organization which are responsible for the implementation of regulations and other business and corporate related decisions.

Correlation

Correlation refers to the cause or effect relationship between two random variables. These variables are determined as positively correlated when the high values of one variable is presumably related to the high values of the other variable. The variables are on the other hand are negatively correlated when the high values of one variable is presumably related to the low values of the other variable.

Co variation

Co variation, in statistics, this term is short for correlated variation which is in regards with the accumulation and analysis of the available quantitative data and also makes use of the theory of probability in order to measure certain population parameters.

Custom Marketing Research

Custom Marketing Research is a type of research that is designed specifically to meet and answer the precise the requirements of a specific client.

Customer

Customer pertains to the buyer and user of a product or a service in order to meet their basic necessities and wants.

Customer Satisfaction Research

Customer Satisfaction Research is a marketing research study used by the companies to determine the level of satisfaction of their customers in buying the products or services. This research aims to maintain the customers for a long period of time.

Customer Profile

Customer Profile is customer description used to help marketers identify their customers and prospects characteristics. Customers who represent profitable and sustainable opportunities are targeted using detailed analysis of demographic, geographic and psychological characteristics. Lifestyle behaviors, purchase preferences and creditworthiness are also analyzed to pick-out sustainable opportunities.

Data

In market research, data are research facts gathered through qualitative or quantitative attributes of a set of observations.

Data Collection

Data Collection is the process of collecting or gathering market research data from the interview or survey to draw conclusion and provide information.

Data Analysis

Data Analysis is a process of systematically gathering, transforming data and sorting observations in order to identify useful information, identify patterns and suggest conclusions.

Data Processing

Data Processing is usually associated with computer tabulations; data processing is the organization of data or raw information into a database format for the purpose of producing the desired information such as the results of the market research finding. This may involve classifying, summarizing, recording, calculating, sorting and storing data.

Data Entry

Data Entry is the act of recording, classifying, sorting, summarizing, calculating, disseminating and storing of data or simply the act of transcribing and inputting the data in a database or computer.

Database

A database is a centrally-held collection of logically related data which consolidates records to allow access and manipulation of data for many applications. Meant for easy access, management and updating of the collected information, databases may be arranged according to content type such as: Bibliographic, Numeric and Full-Text.

Demographics

Demographics refer to the portion in the population considered as customers of a company or industry.

Dependent Variable

Dependent Variable, also known as Effect variable, it is that variable whose value changes as it is influenced by the changes on the independent variable.

Desk Research

Desk Research is research which uses secondary data or information already available in print or in the internet for a particular marketing research problem.

Direct Question

Direct Question is a question used in the market research which focuses on the behavior of the respondent himself.

Discussion Guide

Discussion Guide is an outline of subjects, also known as topic guide or moderator guide, used by the moderator to be sure that all topics are covered during group discussion.

Eligibility

Eligibility specifies characteristics that potential client/participants must have to be invited to participate in a particular research project.

Econometrics

Econometrics is the study of economic theory and statistics using statistical models wherein qualitative data is changed into quantitative mathematical forms.

Executive Summary

Executive Summary a summary report that includes basis for why the research was performed, what was found and where they will take the company as well as what actions the management should make to best complement the research findings.

Empirical Research

Empirical Research is a type of research that tests the reality since it answers a specific question or tests a hypothesis.

Evaluative Research

Evaluative Research is a research process that seeks to identify certain program or activities' efficiency and effectiveness in meeting the objectives set for it. It is used to create objective assessments, operation of existing programs and monitor the implementation of new programs.

Executive Interviews

Executive Interviews is often used where majority of subject information or knowledge is held by a small number of people, these interviews involve talking with people or experts in companies of all sizes.

Executive Interviewer

An executive interviewer is a person who conducts interview with business people to maintain to maintain a long-term relationship with research partners.

Exploratory Research

The initial investigation of a problem to clarify its exact nature or develop a hypothesis. It is used to provide insights into the situation in hand to help determine the best research design, selection of subject and method of data collection. Techniques used includes formal approaches like in-depth interviews, projective methods, case studies and focus groups and Qualitative Approaches such as informal discussions with employees, competitors and consumers.

Extraneous Variables

Extraneous Variables are External Variables or Confounding Variables which may affect the dependent variable in the study.

Factor

Factor is an independent variable from a linear combination of variables wherein results may vary depending on the researcher's way of processing the research.

Face-to-Face Interview

Face-to-Face Interview is an independent variable from a linear combination of variables wherein results may vary depending on the researcher's way of processing the research.

Factor Analysis

Factor Analysis is a form of multivariate search performed by researchers that identifies a small number of factors that explain the correlation and interrelations among a set of variables or objects.

False Accuracy

False Accuracy is a misleading statistic that occurs when a collection of data has a low degree of accuracy but gives the impression of being accurate. This normally happens because of a missing detail such as what happens when decimals are rounded.

Feasibility

Feasibility is a study conducted for a project or another study's assessment in terms of its viability or possibility of completion.

Field Experiments

Field Experiment is research or experiment conducted outside of the laboratory, in the actual or natural setting. This is done to ensure that the external validity is higher than the internal validity.

Final Report

Final Report is a complete compilation of research to be passed to the client to help its company find ways to success. This research includes the methodologies, key findings, interpretations and recommendation.

Findings

Finding is the term used for the conclusions, results and/or output of a conducted evaluation or study.

Focus Group Discussion

Focus Group Discussion is a market research strategy in which theories of social psychology and communication were applied and rarer incorporated into social sciences research methods. Allows people/companies wishing to develop, package, name, or test market a new product, to test the new product before it is being available in the market.

Forecast

Forecasts are estimates of future trends or events.

Frequency

Frequency measures how often a specific condition exists sometimes within a given time frame. It may also refer to the number count of results that fall in different categories and usually recorded daily, weekly or monthly.

Geographical Segmentation

Geographical Segmentation is market classification based on geographic units like regions, cities and countries.

Global

Global pertains to the totality of a number of items or categories.

Gross Income

It is the amount of a company’s earnings incurred in a specific period wherein payroll deductions such as taxes, insurance and expenses are not yet accounted for.

Growth Rate

Growth rate usually measured as a percentage is a record of the growth rate of a changing population size determined by dividing the increase or decrease in a population by the average population during the set period of time.

Hedonic Scale

Hedonic scale is a scale used to measure the extent of respondents' overall views, overall liking or disliking and opinions of a service or a product.

Honorarium

Honorarium is a fee paid by an organization to a professional to perform a service.

Hypothesis

Hypothesis is a presupposition that attempts to explain a set of facts in a unified way.

Hypothesis Testing

Hypothesis Testing is a method of analyzing the implications of assumptions based on data gathered from a sample to determine workable solutions. Solutions derived from this method can help companies focus on important decisions for the company.

In-Depth Interview

In-Depth Interview is used primarily in qualitative research, this involves an unstructured personal interview rather than in a group discussion scenario. Usually conducted by highly-skilled interviewer to understand the beliefs, feelings and underlying motivations of the respondent and normally lasts between 30 to 60 minutes.

Industry

In broad terms, an industry refers to the manufacturing of certain goods and services on a given category. In market research, target industries are normally determined during the planning stage to focus data gathering and analysis.

Indirect Approach

Indirect Approach is a preferred approach when information to be gathered is sensitive. Indirect approach employs asking questions to sources that are not the actual target of the study, or employing questions that do not deal directly with the topic being studied but are tangential to the topic.

Interview

Interview is a formal consultation for the purpose of evaluating the qualifications of a person or group of people.

Interviewer

Interviewer is a person who conducts an interview to another for the purpose of getting his/her opinions or obtaining information for publication.

Jump-start (Ramp-up)

Jump-start (Ramp-up) describes an increase in firm production ahead of anticipated increases in product demand. It is also define as the period between product development and maximum capacity utilization, characterized by product and process experimentation and improvement.

Key Driver Analysis

Key Driver Analysis is a kind of analysis which aims to determine the most important factors in relationships and is usually used to evaluate customer loyalty and satisfaction in business aspects.

Key Market

In market research, key market is the target or subject of the study being conducted. It could also mean a pivotal market for a certain product, company or industry.

Key word

Key words or Key phrases are words or phrases that describe or constitute the main idea of a paragraph, article or a specific subject. In a market and/or business database, key words are used to narrow down or filter ones searches to be able to obtain the needed and/or central information.

Key Opinion Leaders

Key opinion leaders are thought leaders for a particular industry or country whose ideas and expertise could shed light to the evolution of trends in the target industry or country.

Leg (Phase)

In research, a leg or phase is equivalent to a particular stage of the research process.

Linear Regression Analysis

In business statistics, linear regression analysis is the strategy employed to create a connection between a dependent variable like company sales and one or more independent variables such GPDs per capita income as well as other financial concepts. Furthermore, it also attempts to gauge the relationship of dependent variables with the independent ones thus, projecting the latter's value.

Localized

Localized means restricted in a particular place or area.

Logic Test

Logic Tests are simple tests run against data to make sure that it makes sense. In market research, this is important to determine the test validity and soundness.

Market

For market research, market, pertains to a cluster comprised of consumers and/or potential customers who are authorized by law, monetarily capable and most importantly, interested in a specific product and service provided by a company and/or industry.

Market Share/Segmentation

Market Share is the portion in the total sales value in a market which is dominated or influenced by a product or an industry.

Market Environment

Market Environment is the term used to refer to different external factors which may be considered capable in influencing an organization's or group's decisions and activities. Examples of which can be the political, religious or environmental make ups of a society.

Market Segmentation

A marketing term, market segmentation, refers to the process of dividing a total market into sub groups of consumers who are similar in one way.

Market Size

Market size refers to the entire number of customers as well as the potential customers in a specific market. Such may be considered essential when a company wishes to launch a new manufacture and service as well.

Market trend

Market trend is the general fluctuation in an investment market wherein new technologies, demand and/or consumption drivers for a certain industry or business segment as well as new discoveries and developments.

Moderator

Moderator is a person who facilitates a focus group (or group discussion). Also means someone entrusted by the administrator to help in the discussion stay productive.

Methodology

Methodology is a specific method followed to conduct a marketing research project.

Monitored Company

A monitored company is an identified company whose activities are being tracked by a tracking or business research study.

Mystery Customer Technique

Mystery Customer Technique is an observational methodology aimed to collect data on customer experience by having a field researcher posing as a customer without the knowledge of the customer service staff. Normally carried out by specialist agencies, they are commonly commissioned by service industries such as hotels, airlines and fast food franchises.

Mystery Shopper Technique

Mystery Shopper Technique is a strategy wherein an individual may disguise as a curious customer or client to be able to get needed information. Hence, a mystery shopper may actually observe the staff's behavior or even its company protocols and nature of business.

Niche

Niche is a part in the market which may be considered as targetable.

Niche Marketing

Niche Marketing is a marketing strategy wherein marketers devote their full efforts toward a small segment of a market instead of the whole scale.

Non-sampling Error

Non-sampling errors are errors or inaccuracies in a study caused by factors not including sampling errors. It usually refers to any cause of inaccuracy or bias such as selection bias, sampling frame error, non-response error or population misspecification error.

Normal Distribution

Normal Distribution is a very important class of statistical distributions, also called Gaussian distribution, where the mean, the median and the mode all have the same value.

Null Hypothesis

Null hypothesis is initial assumption usually in a statement expressed in a negative way (null way) that if disproved with a significance test will be rejected and an alternative hypothesis accepted.

Objectives

Objective is one of the backbones of accomplishing a study, assessment or research works. It is the purpose or standard, which may be sub-divided into specific goals, of the study conducted accomplished within the projected timeframe using the resources at hand.

Observational Research

Observational Research is a data gathering method wherein researchers are required to have direct connections with people or companies to collect the information needed for the study. It is often referred to as field research.

One-on-One

One-on-One is a research method wherein a moderator personally interviews a single respondent in a qualitative method.

Open-Ended Question

Open-Ended Questions are questions asked by researchers that allow the respondents to give meaningful answers using their own words. These are usually used in qualitative research.

Ordinal Scale

Ordinal Scale is a measurement scale where numbers represent values to objects with relative amount.

Parameter

Parameter is a defined part or group in the population that should be considered to gain the data needed for a study.

Pilot Testing

Pilot Testing is a preliminary test questionnaire statistically designed for a small group of respondents in preparation for the accuracy and efficiency of the actual research.

Pilot Study

Pilot Study is a preliminary study, a pilot experiment or soft research done by the researchers to improve the quality of the research.

Population

In research, it is a group of people that share a common interest, characteristic, behavior or attitude in which information can be obtained through sampling, surveys or questionnaire forms, for establishing a study or assessing one. It may also be called as universe.

Primary Research

Primary Research is a type of research technique which directly gets the original survey research to solve a marketing information discrepancy.

Primary Source

Primary sources are human sources from which information is gathered using primary research techniques like surveys, in-depth interviews, focus group discussions.

Probability

The probability theory in business refers to a type of technique in projecting long-term gains and losses of an industry or company.

Probe/Probing

Probing is the act of scrutinizing or examining closely a subject.

Product Positioning Research

Product Positioning Research, a type of research used in positioning the target market which is done by comparing how brands are perceived to one another.

Product Pricing Research

A type of research used in getting the consumer sensitivity to a range of prices for a particular product.

Profitability

Profitability is the capability of a company/firm/corporation to consistently generate net income of profit.

Population

In research, population is a group of people that share a common interest, characteristic, behavior or attitude in which information can be obtained through sampling, surveys or questionnaire forms, for establishing a study or assessing one. It may also be called as universe.

Positioning

Positioning is the process undertaken wherein customer’s perception of the image or identity of a product, brand or organization is created. This may also refer to the way or how a product is introduced to the target market using such factors as pricing, packaging and store placement.

Product

A product is merchandise or commodity a company offers or sells. It is manufactured or produced to meet market demands.

Product Pricing Study

Product Pricing Study is a study to determine the selling cost of a product based on factors that affect the manufacturing, approval, and distribution of the product. Market trends such as the increase or decrease of demand and the availability of supplies, whether historical or forecasted, will also have an impact on the results of the study.

Purpose

Purpose or objective of the study is the question that must be answered or addressed by a study. It determines the overall research design of any business research project.

Qualitative Research

Qualitative Research is a kind of data gathering process which focuses on the “‘why” ’of a subject matter that involves analyzing unsystematized data such as recordings or interview transcripts, mails, answered questionnaires. As for market qualitative research, the obtained information are treated with analysis and interpretation instead of employing statistical techniques.

Quality Assurance

Quality Assurance is a process that covers every preparation and/or organized step and program to be able to provide certainty that a product or service will satisfy customer expectations. Furthermore, as per businesses, it may also refer to the measurements taken to certify that a structure, module and/or component have complied with the prescribed technical requisites.

Quality Control

Quality Control is a method of monitoring and managing the value of the work output of a manufactured good or rendered service.

Quantitative Research

Generally, quantitative research measures and/or asses phenomena and their relationships for the purpose of generating and using arithmetic models, theories and/or hypotheses. Employed in business, quantitative research involves volume or size of things and measurement of amount applied to advertising audience research to come up with the proper and definite count of audience members to accurately assess market conditions.

Qualitative Research

Qualitative research is research that does not involve numbers or quantitative measurements. .Qualitative research mostly involves insights and attitudes and is most often associated with consumer/customer perception studies.

Quota

Quota is as numerical requirement that must be met in a study. In market surveys, a quota may be set to determine number of interviews that must be completed to be considered successful. In the case of market research studies, a quota in terms of topics successfully tacked answered is important in determining strength of the research output.

Questionnaire

Questionnaire is a list of questions, usually a form, used for surveying. These questions should be able to obtain answers that are essential for a study or evaluation.

Quality Check-points

Quality checkpoints in market research are review phases where data and analysis are systematically checked for soundness and validity even before the research study is completed. Quality check-points are set-up to ensure excellent research out-put.

Random sampling

Random sampling is a method wherein each population element possesses even chances of being selected with every draw. Thus it can also refer to choosing independent variables from the same distribution probabilities without the presence of a defined or fixed populace.

Range

Range is the scatter of data from the lowest to highest values.

Researcher

A researcher is the front-liner and backbone of a research company. Researchers are involved in gathering and processing raw data from the field.

Ratio

Ratio is a quantitative measurement of one number's relation to another number.

Raw Data

Raw data is unprocessed data from the field. In market research, raw data are not directly used in analysis and in reporting. Raw data must be validated by 2 or more sources before it can be used in a study.

Regional Study

Regional study is any geographically-limited form of study. It could be market entry, competitor profiling, competitor analysis but limited to a set region in terms of geographical scope.

Recommendation

In business research, the recommendation completes the cycle and purpose of data gathering and analysis. From raw data collected in the field, the process of business research transforms this to usable intelligence that companies may use for business decisions.

Recruitment Plan/Process

The recruitment plan is a detailed plan on how to recruit relevant sources for a business research study. It details source distribution, source qualification and other parameters specific to the study requirements to help recruit the best sources of information.

Reliability

In marketing and business, reliability refers to the capability of a product or service to obtain the same market influence or consumer loyalty amidst the recurring times it was offered to the same customers as well as to random members of the same targeted sector.

Research Design

Research Design is a blueprint for the experimentation, study and/or assessment that will be conducted. It covers the types of research methods that will be employed for the study, the variables to be considered, the method of organizing and analyzing the gathered data, as well as the types of instruments to be utilized and how it is going to be used.

Research Method

Research Method is an organized approach to obtain the needed information for a study which primarily requires strong scientific processes and procedures to substantiate the experimentation being made. Some examples of which are: surveys, interviews, FGDs (focused group discussions) as well as observation.

Research plan

A research plan is the guiding document for any business research study. The research plan is the product of careful planning and identifies progress checkpoints and potential bottlenecks and challenges in the study.

Response Rate

Response Rate is the percentage of replies to a specific campaign, most especially in direct marketing. This can also be a means of identifying the success rate of a mail with the assessment of the quantity of sales or inquiries against the quantity of promotion items mailed.

Scale

Scales are measurements with specific graduations to help assign quantitative values to opinions or qualitative values. This is important in market research studies that involve consumer opinion comparison on products or companies in specific markets.

Sampling

A process of extracting a representative sample of a bigger population in terms of specific demographic parameters. The results from the sample may be used to determine the attitude of the population it represents.

Sample size

Number of samples required to best approximate attitude of the population. This number is very important in any market research study as this determines reliability of data analysis.

Sample

A group of individuals identified through a sampling design to represent either an entire population or a certain target demographic. Interviews with identified samples are necessary steps for market entry and product launch studies.

Screener

A set of questions designed to determine suitability of a sample for a particular study. In Key Opinion Leader (KOL) interviews, screeners determine level of knowledge and experience of the KOL in a particular industry. In market research, screeners help identify if a sample fits the target demographic identified by the research design.

Secondary Data

Secondary data is data collected from published sources. This includes online data, published reports, annual reports, industry studies that can serve as the preliminary data or base data for a new study.

Secondary Questions

These are follow-up questions used in quantitative or qualitative research. These are asked after open-ended questions to encourage the respondent to elaborate his answer.

Secondary Research

Secondary research is a process of collecting already published data from published sources.

Selection Process

Selection process is a method of determining best parameters for a particular market research study. Selection may be used in identifying best secondary sources, primary sources, analytical tools, to name a few.

Service

Service is an act of assistance or work rendered by a company that benefits consumers, suppliers, distributors, and others.

Source

Reference; a source can either be secondary (published data) or primary (human source).

Source List

A source list is a listing or database of potential interviewees to be contacted in a course of conducting a research study.

Source Mapping

Source mapping is the process of identifying who and what are sources of information that may be tapped to answer the objective of the study.

Source Matching

Source matching is the process of identifying which sources may be able to answer specific topics in a business research study. Source matching is important to spread the potential sources across the topics that must be covered by the research and to make sure that sources are asked questions that are relevant to them.

Standard Deviation

Standard deviation is a measure of the variability of a population or raw data set.

Structured Question

A structured question is a question with pre determined answers that sources can choose from. Structured questions are usually used in survey questionnaires as they make the survey easier to complete.

Statistical Analysis

Statistical Analysis is a method of processing raw numeric data to determine significance and weight of the output versus the objective of the study. Statistical Analysis is important to ensure minimal human bias in analysis of data.

Survey

In broad terms, survey refers to the collection of from multiple resources. In market research, it specifically applies to a method of research consisting of gathering and collecting participant responses on opinions, attitudes and facts through processes like sampling, questionnaires or interviews with target candidates, interviewees and respondents.

Tabulation

Tabulation is the process of placing data results obtained from research on data tables which are used for analyzing these data.

Target Population

Target Population refers to a population with specific characteristics that researchers want to know more and from where researchers will draw a sample. In its most basic term, it refers to the group which is being studied.

Terminate

Terminate refers to the act of stopping an interview before it may be completed.

Telephone Interview

Telephone Interviews are usually conducted from a central telephone interviewing facility; it refers to the type of surveys or interviews over the telephone.

Top Line Report

Top Line Report usually refers to preliminary results from a project showing the responses to a part of or the entire questionnaire. It is usually part of a comprehensive research report where key findings are summarized in a short document meant for top management.

Top-of-Mind

Top-of-Mind is also known as Front-of-Mind awareness; it is the first answer to questions such as unaided brand awareness, unaided advertising awareness and unaided brand purchased. It is a measure of how well a brand name or concept readily comes to a respondent's mind.

Trend Data

Trend Data refers to the respondents’ change of views and perceptions over time about a specific topic and are usually culled through survey responses.

Tracking

Tracking refers to studies repeated over time that aims provide periodic updating of competitor and company performance on categories other than sales. Included in the information being monitored are consumer behavior, opinions and attitude changes toward a product, brand or service.

Transcript

Transcript refers to a written record through verbatim account of a focus group or an interview.

T-test

T-test is a statistical hypothesis test to analyze a single mean value normally used for small sample sizes of less than 30 or when a sample size is not large enough to use a Z-test to analyze the results. It may also be used either when a variance in the population is unknown or to compare the differences between two.

Triangulation of Data

Triangulation of Data, also known as Multi-modal method, is a research approach which uses the following three data collection methods: surveys, interviews and observations often to establish the accuracy of given information.

Universe

Universe, also known as Population, this refers to the set of all units from which a sample is taken or drawn from.

Unstructured Question

Unstructured Question, also known as Subjective Questions or Open-Ended Questions, these are questions that do not have any prelisted answers, suggested alternatives and do not provoke or influence the respondent. This usually requires the respondent to answer the questions using their own words.

Urban Population

Urban Population is defined by the 1980 census and refers to all persons living in urbanized areas or in places inhabited by 2,500 or more people outside of urbanized areas.

Validation

Validation is a post-research essential, validation is a survey integrity safeguard used to confirm that the proper procedures or interview were conducted correctly according to all instructions and specifications. This may be done in person, by mail or by phone usually by the data collection company.

Validity

Validity refers to the extent to which a question or scale that was attempted to measure was actually measured. In market research, validity is concerned with whether research purpose was fulfilled accurately. In practice, it may also mean the success in getting "valid" results of a project or question.

Variable

Variable is a quantity or property with an assigned value that may take on different values at different times during the research.

Verbatim

Verbatim refers to word-for-word record of actual comments provided by the respondents without any omissions, interpretations or abbreviations by the moderator. It is usually used to support finding interpretation.

Viewing Facility

Viewing Facility, also called the observation room or back room, this is a venue where researchers and clients can observe individual interviews or focus group proceedings by using one-way mirrors or video link. This is used so researchers and clients may be able to observe and study the proceedings without being able to influence the participants who are not aware of their presence.

Word of Mouth Promotion

Word of Mouth Promotion, known as a form of viral marketing, this process relies on promoting or marketing through human interaction normally through sharing of opinions of customers which in turn create buzz on the subject. Popular tools for generating buzz include internet sites such as blogs and discussion boards.

Weighted Sample

Weighted Sample is a sample where weighting or applying numerical coefficient has been done.

Weighting

Weighting is the process of assigning statistical weight on the responses of some or all sub groups to reflect the importance of that group in the population interest. In reaching target audience, weighting is used to determine how much advertising is necessary to achieve the desired goal using three factors to be considered such as audience's ad impression, percentage of audience exposed to advertisement and frequency of ad exposure to target audience.

Z-Test

Z-Test is a statistical test that draws comparisons between a sample and a hypothesized test based on the standard normal distribution. It is used to determine if the difference is large enough to be statistically significant between a sample mean and a population mean.