|Active Rate||The number of community members who have logged in within the past 30 days, expressed as a percentage.|
Message testing allows organizations to evaluate the effectiveness of their messaging and communications strategies. This type of research helps companies determine which messages resonate with their target audiences, as well as how those messages are received by different demographics. Message testing can be used in various types of campaigns, from advertising to direct marketing initiatives.
The primary goal behind message testing is to identify which messages will have the greatest impact on an audience's opinion or behavior. By analyzing responses from participants in message tests, marketers can gain valuable insights into what resonates with consumers and adjust their messaging accordingly for maximum effect. Additionally, this kind of market research also provides information about how people perceive specific words or phrases used within a given campaign so that companies may tailor them appropriately for each audience segment they're targeting.
|Blinded Community||A type of community where the brand working with Fuel Cycle chooses to not disclose to members who are sponsoring the research within the community. More of a 'general' community type.|
|Brand Equity||A brand's value is determined by consumers based on their experience and perception of the brand. Higher brand equity gives you the leverage to foster brand trust, establish premium prices, and expand a service or product line.|
Brand funnel analysis allows you to track the journey of customers from brand awareness through purchase and loyalty, providing valuable data on how different marketing strategies affect each stage of the process.
|Brand Health||Many elements contribute to overall brand health including brand awareness, brand equity, brand reputation, and more. Brand health tracking can help you understand how your brand is performing in the market, how you stack up against your competitors, and how your audience thinks of you.|
|Brand Identity Testing||Brand identity testing is used to measure the effectiveness of a brand's messaging, positioning, and overall image. Through this method, professionals can gauge consumer perception of their product or service to better understand how well it resonates with target audiences. By understanding what consumers think about the brand, marketers can adjust their strategies accordingly and ensure that they are delivering an effective message that resonates with potential customers.|
|Brand Tracking Studies||Brand tracking studies provide quantitative data that can help identify customer preferences, attitudes, and behaviors over time. These studies allow marketers to track how their brand is performing in the market relative to competitors and make informed decisions about messaging, pricing, product features, and more. By understanding customer sentiment towards a brand or product offering on a regular basis, researchers can ensure their brand or product remains competitive in the marketplace by making timely adjustments based on customer feedback.|
|Cells/Branches||A term used to indicate how many individual paths a respondent can be assigned to during a survey. Most commonly used when discussing a concept, packaging, or product testing survey.|
Chi-square testing is used to determine the relationship between two variables. It helps researchers measure how likely it is that an observed difference occurred by chance, or if there are significant differences between groups of data. This type of test can be applied to any kind of categorical data, such as demographic information and survey responses.
When conducting chi-square tests, the researcher must first decide which variables they want to compare and then create contingency tables based on those variables. The next step involves calculating expected frequencies from each cell in the table; these values indicate what would happen if no meaningful relationships existed among the sample population being studied. Finally, using this calculated value along with other factors (such as degrees of freedom), one can compute a chi-squared statistic that indicates whether or not there are statistically significant differences between two sets of data points within a given population group under study.
|Closing the feedback loop||CTFL||A type of engagement activity that is done to share back the results of a research project that was fielded in the community. Typically used to enhance the feeling of member immersion and the feeling that their feedback is listened to by the business.|
|Confidence Interval||The margin of error that a researcher experiences if they ask a particular research question of every member of a target population and receive the same answer that the members of the sample gave in the survey.|
The probability that the value of a parameter falls within a specified range of values.
NOTE: confidence interval and confidence level are not the same. Confidence intervals represent a range of values that is likely to include an unknown population parameter, such as a mean or proportion. On the other hand, confidence levels refer to the probability that this range contains the true value of interest. In essence, they measure how confident you can be in your results from sample data.
Conjoint analysis is used to determine how people value different features that make up an individual product or service. It helps businesses understand what attributes are most important to customers when making purchasing decisions and it provides insights into the trade-offs consumers are willing to make between various product features. The conjoint analysis allows researchers to measure consumer preferences for multiple attributes of a particular product at the same time, providing more accurate information than traditional survey methods.
The primary purpose of conjoint analysis is to identify which combination of factors will produce maximum customer satisfaction and loyalty among target audiences; this can be done by measuring their willingness to pay (WTP) for each attribute in relation to other combinations. This method allows researchers not only to get an understanding of what motivates customers but also quantify those motivations, allowing companies better tailor their products/services accordingly as well as optimize pricing strategies based on customer demand levels for certain feature sets. Additionally, conjoint analyses often provide useful data regarding competitive positioning within markets since they allow comparison between different brands’ offerings side by side on several criteria simultaneously such as price points, quality ratings, etc.
|Copy Testing||Copy testing is a type of market research that evaluates the efficacy of marketing materials and advertisements by measuring how well they communicate their message to potential customers. It can be used to test a range of media, including print, television, radio, or online advertising campaigns. Copy testing helps marketers determine which elements are working best and which need improvement to maximize the effectiveness of their campaign.|
|Cost per Interview||CPI||The dollar value of completing an interview in a survey research project. Determined by dividing the total budget for a project by the number of completed interviews.|
|Consumer Packaged Goods||CPG||
Consumer Packaged Goods (CPG) are products that consumers purchase for their everyday use. These goods can range from food and beverage items to health, beauty, and household items.
The four consumer goods categories are...
|Cross-sell||Selling a different product or service to an existing customer.|
|Crosstab||A cross-tabulation or contingency table (crosstab) is an analytical tool used in market research to examine the relationship between two or more variables. It organizes data into categories and displays them in a grid format, allowing researchers to quickly identify patterns and relationships between different groups of respondents. Crosstabs are often used for survey analysis, segmentation studies, brand tracking studies, customer satisfaction surveys, and other types of quantitative research.|
|Consumer Insights||Consumer insights are the deep understanding of consumer behavior, needs, and preferences that businesses gain through market research. Consumer insights can be used to inform marketing strategies, product development decisions, and customer service improvements. By gathering data from surveys or focus groups as well as examining existing customer behaviors and trends in the marketplace, market research professionals can uncover valuable information about their target audience. This knowledge helps companies create better experiences for customers by providing products or services that meet their exact needs.|
|Degrees of Freedom||Degrees of freedom refers to the number of independent observations that can vary without affecting any other observation. In terms of chi-square testing, degrees of freedom represent the number and arrangement or combination in which a set amount of variables can be analyzed together using statistical methods such as chi-squared tests.|
|Discrete Choice||Discrete choice explores the preferences and choices people make when presented with a set of distinct options. It allows businesses to measure how different factors influence decision-making. Discrete choice helps identify which features are most important in influencing customer decisions and can provide valuable information about product design, pricing strategies, marketing campaigns, etc.|
|Distribution List||Distro||This is a group of email addresses used to allow multiple people to receive emails. For example, firstname.lastname@example.org is a distribution list that includes emails to our finance department.|
|Double Opt-in||DOI||When a community member provides an email address, clicks a confirmation email, and provides requested information for their profile.|
|Double-barreled Questions||Asking questions in a way that forces respondents to answer two questions at once. Survey questions should always be written in a way so that only one thing/idea/construct is measured.|
|Evergreen||Used in communities to describe activities that remain open for an indefinite amount of time. This commonly applies to FAQs, CTFLs, etc.|
|Gamification||Adding incentives to participate in any type of member activity.|
|Heat Map||A heat map is a graphical representation of data that uses colors to represent different values. It is most commonly used in market research to visualize and analyze customer behavior, such as website clicks or purchase patterns. Heat maps are also useful for identifying trends and correlations between data sets, helping researchers gain insights into the underlying causes behind consumer decisions.|
|Hot Spotting||Hot spotting is used to identify areas of potential growth or decline in business performance. It involves analyzing data such as customer demographics, sales figures, and other related metrics to uncover patterns or trends that can be leveraged for strategic decision-making. Hot spotting can help marketers make informed decisions about product launches, marketing campaigns, and pricing strategies by providing them with an understanding of the current market landscape. See Heat Map.|
|In-home Usage Test||IHUT||An in-home usage test is a type of market research study that involves having individuals use and evaluate products within their own homes. It's used to gain insights into how consumers interact with the product, as well as uncover any potential issues or areas for improvement. In addition, it can provide valuable feedback on packaging design and ease of use from the perspective of an end user. By understanding consumer behavior at home, companies are better able to develop successful products that meet customer needs.|
|Incidence Rate||IR||The number of respondents from a sample pool that will qualify for your study. It is the qualification rate in market research.|
|Initial Sample||The number of people within the population who are contacted to participate in the research.|
|Kano Model||The Kano Model (pronounced "Kah-no") is an approach to prioritizing features on a product roadmap, based on the degree to which they are likely to satisfy customers.|
|Key Performance Indicator||KPI||
A Key Performance Indicator (KPI) is a metric used to measure the performance of an organization or individual concerning a specific objective. KPIs are important tools for measuring success, as they provide insight into how well an organization or individual is performing relative to their goals and objectives. They can be used in market research by providing valuable information about customer satisfaction, product quality, and other aspects of the marketplace that may affect sales and profitability.
|Leading Questions||A question that prompts or encourages the desired answer. Do not lead respondents to respond in a certain way.|
|Length of Interview||LOI||The average time it takes a respondent to complete a survey. Typically longer LOI creates respondent fatigue; shorter times are preferable.|
|Line of Business||LOB||A broadly applicable term that generally refers to the different revenue streams a company has. In the healthcare industry, this refers to the different types of health plans that a person may be eligible for, such as Medicare, Medicaid, etc.|
|Loaded Questions||Loaded questions often include implicit and possibly controversial assumptions about the respondent, which can hinder them from answering fully. Please don't ask loaded questions. See leading questions.|
Market size is a measure of the total number of potential customers in a given market. It helps companies determine how much demand there is for their products or services, and what type of competition they may face.
|Maximum Difference Scaling||
|MaxDiff, also known as Maximum Difference Scaling (MDS), is a market research technique used to measure relative preferences for multiple items. It allows respondents to compare and rank a large number of items in one survey question by assigning them numerical values based on the differences between their ratings. This method can be used for evaluating product features, services, advertising concepts, and more.|
|Member of the Month||MOTM||A community engagement/incentive approach where one person is chosen either at random or for exemplary community behavior to highlight in the community.|
|Member Value Proposition||MVP||A plan that details how we/clients intend to create value for members within the community (i.e., redeemable points for sharing opinions)|
|Moderated Usability Testing|| Moderated usability testing is a method of user experience research that involves observing users interacting with a product, website, or other interfaces to uncover potential issues. It typically uses real-time observation and feedback from moderators to understand how users interact with the system being tested. This type of research helps identify areas where improvements can be made and provide valuable insight into the overall user experience.
Monadic testing is an important concept in market research that helps to identify customer preferences and trends. It is a method of testing where only one item or element at a time is tested, rather than multiple elements being tested simultaneously. This allows researchers to focus on individual variables and their impact on consumer behavior. Monadic testing can be used for both qualitative and quantitative data collection methods, providing insight into how different aspects of the product or service affect customers’ attitudes towards it.
The main advantage of monadic testing over other types of tests lies in its ability to isolate single variables from the rest so that they can be evaluated more accurately without external influences skewing results by introducing bias from other factors not being considered during the test process itself. By isolating each variable individually, researchers can gain better insights into customer preferences as well as provide more accurate predictions about future behaviors based on this information alone - which makes it an invaluable tool for any market researcher looking for reliable results when conducting surveys or experiments with their target audience groups.
|Net Promoter Score||NPS||Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction. NPS is based on the concept that customers can be divided into three categories: promoters, passives, and detractors. Promoters are customers who have had positive experiences with a company or product and are likely to recommend it to others; they score 9-10 on the Net Promoter Scale (NPS). Passives are those who may not be particularly impressed but remain loyal; they score 7-8 on the scale. Detractors make up the remaining group of dissatisfied customers; their scores range from 0-6 on NPS. The overall Net Promoter Score is calculated by subtracting the percentage of detractors from promoters – thus providing companies with an indication of how well their products/services perform relative to competitors.|
|Nonprobability Sampling||A method of sampling that does NOT involve random selection.|
|Obtained Sample||The number of people who are both contacted within the population AND participate in the research to completion.|
|Paired Testing|| Paired testing, also known as A/B testing or split-run testing, is a method of market research that compares two different versions of a product or advertisement to determine which one performs better. It is commonly used in web design and marketing campaigns to determine the effectiveness of changes made on websites and other digital platforms.
In paired testing, two variations are created for each element being tested – such as an email subject line or website layout – with slight differences between them. The test group then views both versions simultaneously and provides feedback on their preference based on user experience (UX). This data helps marketers decide which version will be more effective when released into the public domain.
Panel research is a method of market research that involves recruiting and engaging with participants over an extended period, typically in the form of surveys or interviews. It allows researchers to gain deeper insights into consumer behavior by tracking changes in attitudes, opinions, and behaviors over time. Panels are often used for long-term studies such as brand tracking studies or product development initiatives.
The primary benefit of using panels for market research is the ability to track responses over time which can provide valuable insight into how consumers’ feelings about products/services may change after exposure to marketing campaigns or other external factors. Additionally, panelists are more likely than one-off survey takers to be engaged and attentive throughout the study since they have already agreed to participate on an ongoing basis — this increases response quality while decreasing survey fatigue among respondents who may otherwise become bored if asked too many questions at once.
|Population||The total set of people that your sample is supposed to reflect.|
Prediction markets are a type of financial market that allows participants to bet on the future outcomes of certain events. They have been used in various industries, including finance, business, and politics. Prediction markets can be used as an effective tool for market research professionals to gain insights into consumer behavior and trends.
The concept behind prediction markets is simple: participants place bets on their predictions about the outcome of a given event or situation, such as who will win an election or what product will sell best during a particular season. By aggregating these individual predictions from multiple sources across different demographics, researchers can get valuable feedback about consumer sentiment and make more informed decisions when it comes to marketing strategies.
Prediction markets also provide real-time data which can help inform decision-making in fast-changing environments where traditional surveys cannot keep up with shifts in public opinion over periods shorter than weeks or months long periods required by most surveys. This makes them especially useful for predicting short-term changes such as political election results, stock price movements, and your new product launch's success rate among other scenarios. They offer greater accuracy compared with polls due to people's willingness to invest their money instead of just answering questions without any incentives whatsoever. All this combined makes prediction markets one of the most powerful tools available today for conducting market research studies while being cost-efficient at the same time.
|Probability Sampling||Any method of sampling that utilizes some form of random selection. You must set up some process or procedure that assures that the different units in your population have equal probabilities of being chosen.|
|Progressive Profiling||P2||Progressive profiling allows you to have a single source of truth for all your customer data. It helps businesses and organizations collect more detailed information about their customers. It works by gradually asking users for additional pieces of data over time, rather than all at once. This allows marketers to build up an increasingly complete picture of who their customers are, what they’re interested in, and how best to reach them with relevant content or offers.|
|Quality Control||QC||In Research, a complete QC often includes checking data, grammar/spelling of headlines, and summary. In the Community, a QC involves a proper review of an activity (i.e., design, spelling) and a successful launch.|
A ranking question is a type of survey question used to ask respondents to rank items in order of preference. This type of question can be used for any number of purposes, including market research and product development. Ranking questions are valuable tools for gathering data on preferences, attitudes, or behaviors related to a particular topic or industry.
Ranking questions are useful because they allow researchers to quickly gauge how strongly people feel about an issue without having them provide lengthy explanations as they would with open-ended responses.
|Red Herring||Survey questions used to "trap" respondents who are not paying attention, are "speeding", or do not fit the profile of a project.|
|Rules of Participation||ROP||See Terms & Conditions|
|Sample Frame||The method used to access the population to draw a sample.|
|Sample Size||N||The number of participants included in a study.|
Sentiment analysis is a type of market research technique used to evaluate the attitudes and opinions of consumers. It involves analyzing text-based data, such as customer reviews or social media posts, to gauge how people feel about a product or service. Sentiment analysis can provide valuable insights into what customers think about your brand, products, and services.
The goal of sentiment analysis is to identify patterns in customer feedback that can be used by marketers for making informed decisions on marketing campaigns or product development initiatives. By understanding how customers talk about their experiences with your brand online you can gain insight into what resonates with them most and make adjustments accordingly. Additionally, sentiment analysis provides an opportunity for businesses to respond quickly when negative comments arise so they don’t become larger issues down the line.
|Single Opt-in||SOI||When a community member provides their email to join the community.|
|Statistical (Stat) Testing||
Statistical testing is used to analyze data sets to draw meaningful conclusions with statistical techniques such as hypothesis testing and regression analysis to identify trends, relationships, and patterns within data that can be used for decision-making purposes. The primary purpose of stat testing is to provide an objective way of assessing how well a given set of variables performs against certain criteria or objectives.
The most common uses for stat testing include measuring the effectiveness of marketing campaigns, gauging customer satisfaction levels, predicting future sales performance based on past results, determining pricing strategies that are likely to yield maximum profitability over time frames such as quarters or years; and understanding consumer behavior through surveys or focus groups. Stat tests also enable researchers and marketers alike with insights into customer segmentation so they can better target their message towards specific audiences more effectively than ever before.
Storyboard testing is used to evaluate the effectiveness of marketing campaigns, websites, and other media. It involves presenting participants with storyboards that depict a series of events or scenarios related to the product or service being tested. Participants are then asked questions about their reactions and opinions on each scene to gain insights into how they perceive it. This type of testing can be used for both qualitative and quantitative analysis as it allows researchers to uncover deeper insights into consumer attitudes towards certain products or services.
The primary benefit of storyboard testing is its ability to provide more detailed feedback than traditional survey methods such as focus groups or surveys alone can offer. By visually depicting scenarios related directly back to the product/service being tested, participants can better understand what’s being asked from them which leads them to provide more accurate responses that paint an overall clearer picture for marketers looking at customer sentiment around their brand offering(s). Additionally, this type of approach allows researchers access to emotional responses which provide valuable insight when developing new campaigns since emotions often play an influential role in purchasing decisions made by consumers today.
|System 1 Insights||
System 1 and System 2 insights are two distinct types of research used to gain a better understanding of consumer behavior. System 1 insights focus on the emotional side of decision-making, while System 2 insights look at the cognitive aspect. Both methods have their unique advantages when it comes to market research and can be used together or separately depending on the situation.
System 1 insight is based on gaining an understanding of how consumers make decisions emotionally rather than logically or analytically. This type of insight focuses more heavily on qualitative data such as surveys, interviews, focus groups, etc., to gain valuable information about what drives people’s decisions and why they do certain things without necessarily being aware that they are doing them. By using this method marketers can get a better idea about what motivates customers which helps them create more effective campaigns that target their audience's emotions directly instead of relying solely on facts or figures from quantitative sources like analytics data alone.
On the other hand, system 2 insight looks at how consumers make rational decisions by analyzing large amounts of quantitative data such as sales figures over periods for example; It also takes into account factors like customer demographics (age/gender) & psychographics (personality traits). Using this method allows researchers to identify patterns in customer behavior which then leads them towards making informed predictions regarding future trends & potential opportunities for growth within markets. By combining both systems, companies can obtain greater clarity when it comes to formulating marketing strategies with increased accuracy based on reliable evidence from both sides.
Tree testing is a form of usability testing that helps market research professionals understand how users find and interact with information on websites. It is an effective way to evaluate the structure, organization, and labeling of content to ensure that it meets user expectations. Tree tests are conducted before any design or coding has been done so they can be used early in the development process as well as later when refinements need to be made.
Tree testing allows researchers to identify potential problems with navigation menus, labels for links or categories, page hierarchies, search functions, and more without having a fully developed website available for review. By presenting users with simplified versions of webpages called "trees" which contain only text-based links instead of images or other visuals; tree tests enable researchers to quickly assess how easily people can scan through pages and find what they are looking for without being distracted by graphics or other extras that may not improve their experience on the site.
|User Experience Research||UXR||A team/area of business dedicated to understanding how users interact with and experience a product, system, or service. Research in this area often measures the ease of use, access, and efficiency of an online product.|
|Van Westendorp Sensitivity Meter||
The Van Westendorp Sensitivity Meter is used to measure consumer sensitivity toward pricing. It helps researchers identify the optimal price point for products and services by asking respondents four questions about their opinions on prices. The first question asks respondents how low of a price they would require before considering the product or service too cheap, while the second question assesses at what point they consider it expensive. Questions three and four ask what range of prices would be acceptable as "cheap" or "expensive" respectively, allowing researchers to accurately gauge customer sentiment around different price points.
By collecting data from large numbers of customers through surveys using this methodology, companies can gain insights into which kinds of customers are willing to pay certain amounts for their products and services; this information can then be used by them when setting up promotional campaigns that target specific demographics with tailored offers based on their preferences.
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