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Fri, 17 Jun 2016 00:00:00 -0400The Telecommunication and Wireless Industry is one of the most profitable industries in the world recently. So, it isnat at all surprising why innovative and groundbreaking ideas are implemented to secure a good spot in the market rankings. As an industry that is mainly characterized by the rapidly evolving technology, it is expected to have a strong market research foundation, which every company must have, to enhance their services and provide what the customers need.
Wed, 08 Jun 2016 00:00:00 -0400Market research is a crucial stage to help any company in the health industry to determine the demographics of their target audience. The data gathered are also essential to plan and implement the most effective strategy to be included in the campaign. To fully grasp the importance of market research in the healthcare industry as well as in other types of businesses, hereas a list of its advantages and why businesses shouldnat skip this part...
Mon, 26 Jul 2010 00:00:00 -0400Data from mixed mode questions are hard, if not impossible, to interpret accurately. Here is an example of a mixed mode question and my problem analysis related to interpreting the results this mixed mode scale would produce. Notice how the double concept appears workable, but quickly gets the researcher into trouble as he or she tries to understand the result. In a follow-on article, I will provide a solution to the dilemma posed in the problem analysis provided here.
Wed, 26 May 2010 00:00:00 -0400Sample size is dependent on your need to detect changes of a specified order of magnitude for the topic you are studying. To achieve a higher probability of being correct (i.e., a lower likelihood of being wrong) requires larger sample sizes. However, cost will often prohibit you from the "perfect" sample size solution.
Mon, 10 May 2010 00:00:00 -0400In their efforts to maintain high levels of economic growth and guarantee the continued development of western provinces and rural areas, China's economic policy makers have realized that western consumers, especially American consumers, can no longer be counted on to purchase all consumer goods coming out of the manufacturing heartlands of the eastern coastal regions of the Yangtze and Pearl River Deltas.
Fri, 23 Apr 2010 00:00:00 -0400This paper examines the defects of focus group research and suggests that a better alternative to focus group research is web-based surveys using the well-established Delphi Technique. Qualitative research is an important part of marketing research today. When marketing managers say "we'll do some qual" they almost always mean focus groups. Other types of qualitative research are rarely if ever considered.
Mon, 12 Apr 2010 00:00:00 -0400Obviously, the differences in cost structures between telephone and web-based data collection methods are highly dependent on the research requirements. However, web-based studies, when stratification requirements are modest typically have a lower CPC (Cost per Complete). Telephone lists are inexpensive to purchase, but the call-through cost to find the right respondent can be high.
Mon, 12 Apr 2010 00:00:00 -0400It is critical to align the data collection approach (e.g., telephone or web-based) with the questionnaire design. Implementing a web-based versus a telephone study questionnaire requires treating some design issues very differently. Ultimately, aligning the data collection method with the questionnaire design is a function of evaluating the strengths and weaknesses of each approach in relation to the goals of the study.
Mon, 12 Apr 2010 00:00:00 -0400Taking an eclectic approach to data collection ensures the strengths and weaknesses of each approach will be evaluated in the context of the research objectives. The issue is not whether a study using a specific data collection approach is superior or inferior to another approach, but rather whether the research objectives are served better by one approach over another.
Wed, 31 Mar 2010 00:00:00 -0400Requirement of information and facts in order to make a specific decision culminates in need for market research. Depending upon the final data to be gathered from research and financial resources at hand to determine which technique to be used for a business, there are many ways to perform market research, and most businesses use one or more of five basic methods: surveys, focus groups, personal interviews, observation, and field trials.
Fri, 26 Mar 2010 00:00:00 -0400Conjoint analysis is one of the most popular quantitative methods in Marketing Research. The popularity of Conjoint Analysis is well deserved. Conjoint Analysis has in many cases replaced concept testing because it is more effective.
Thu, 25 Mar 2010 00:00:00 -0400The broader definition of marketing research is the function that undertakes the study of market and consequently interlinks the consumer to the market through information - information used to identify and define marketing opportunities and problems, generate, and evaluate marketing actions; monitor marketing performance; and improve the overall understanding of marketing as a process.
Tue, 02 Feb 2010 00:00:00 -0500Often when I recommend that a research team prepare a formal analysis plan the first response I hear is, "Why? The analysis isn't due for weeks and I have too many other things to do." An analysis plan is not extra work; it's work that makes all the other project tasks flow efficiently.
Tue, 02 Feb 2010 00:00:00 -0500There are two complimentary research tasks, which are essential building blocks of market research, but at times are relegated to the back of the line on research projects. The first is a strong questionnaire design and the second is the task of high quality sample development. Putting both building blocks in place is the equivalent of a good building frame on top of a good foundation.
Sat, 16 Jan 2010 00:00:00 -0500Finding business ideas is easy enough. There are endless possibilities that range from products to services which are in need of improvement or modifications. Producing new, improved products or services than those existing is an advantage over the competition. However, prospective entrepreneurs often forget an essential component of their future businesses. They neglect checking if their ideas are feasible to attract a large and sustainable market by conducting marketing research. As a result, promising businesses often crash due to the entrepreneurs' lack of business panache.
Thu, 26 Mar 2009 00:00:00 -0400In these days of perpetual negative news about the economy and the stock market, one runs the risk of getting caught up in the bad news and foreseeing the same for your business. Yes, business will likely drop, perhaps by double digits if it has not already. However, a declining business in a declining market is not a death knell if you do not let it become one.
Mon, 21 Apr 2008 00:00:00 -0400The decision to conduct primary market research generally derives from a major marketing challenge or question regarding a product or service. Here are a few points to consider that will determine the scope and methodology of the research and result in a successful outcome.
Tue, 04 Dec 2007 00:00:00 -0500Market studies are performed to evaluate real estate market conditions with regard to an existing or proposed property. The focus of a market study details competition within the submarket, the strength or weakness of the submarket. Also, market study indications that the submarket will continue to improve or weaken and how the existing or proposed subject property is likely to perform within the submarket.
Sat, 29 Sep 2007 00:00:00 -0400Are you an entrepreneur, small business owner or solo professional who wants to know what your customers and prospects are thinking? It's really simple to find out: just ask them! The answers you are seeking can easily be found by conducting a simple survey and this article will show you how to make your survey successful.
Tue, 18 Sep 2007 00:00:00 -0400When you create a survey, focus on creating one that is as unbiased as possible, recognizing that the fairer the survey, the better the data, and the better the data, the better the decisions you'll make.
Tue, 27 Feb 2007 00:00:00 -0500In a previous article 'Market Research: Qualitative, Quantitative and Everything In-Between', we explained the differences between quantitative and qualitative market research studies. We also promised to provide an example of a two-phased research approach, incorporating both qualitative and quantitative research approaches, in order to highlight the differences of the two types of research. Here's our example...
Tue, 02 Jan 2007 00:00:00 -0500Smart business managers use market research to understand how the needs and attitudes of their customers are being met by the current products in the marketplace and to understand that where there is customer dissatisfaction with a product category that there might also be an opportunity!
Mon, 04 Dec 2006 00:00:00 -0500Conducting fieldwork is much easier today than in years past. The stereotypical "kitchen table" field service is passing into history. In its place are companies that specialize in field management. The new breed of data acquisition-company is capable of providing questionnaire formatting, screener writing, development of instructional and peripheral materials, shipping departments, field auditing and all coordination of data collection, coding and tab services.
Fri, 01 Dec 2006 00:00:00 -0500Open-ended questions are those to which respondents can reply in their own words. In other words, the researcher does not limit the response choices and the respondent has the choice to respond as he or she wishes.
Fri, 08 Sep 2006 00:00:00 -0400Market research is one of the most important but often overlooked part of business management. This article highlights many real life analogies to this important business function and provides some excellent advice to entrepreneurs.