Marketing research terminology inc

I remember my first job in marketing. Aside from the environment being extremely fast-paced and deadline-oriented, it was also filled with jargon. Quite frankly, sometimes I felt like I was learning a new language, which didn't make getting acclimated to the industry any easier.

No amount of marketing coursework in college could have prepared me for all the terms that were thrown around in meetings and calls. Over time, and after many Google searches, I was able to start talking the talk — but I'd be lying if I said I couldn't have used a cheat sheet to help me out.

What is Market Research?

That's why we've created this marketing glossary of marketing terms you need to know. General Marketing. Content Marketing. Digital Marketing. Content Marketing A strategic approach to marketing that's focused on consistently creating and distributing high-quality, valuable content to attract, engage, and convert a specific audience and drive profitable action.

Learn more about this essential strategy by checking out. Case Study An in-depth analysis of work a company completed for a client or customer that highlights the goals, processes, and services used, as well as the results achieved through the services.

To see some examples. Marketing Funnel A model illustrating the process companies use to attract visitors, convert them into leads, and nurture them before they finally reach the buying moment. Key Performance Indicators KPIs A set of quantifiable metrics a company uses to evaluate its performance against its specific, strategic goals.

Middle of the Funnel The stage in the marketing funnel where prospects have officially identified their problem and a need to solve it.

Public Relations PR A strategy complementary to marketing that's responsible for positioning a company in a positive light through messages from the company or an individual, which are delivered by third-party sources to boost credibility and earn trust with new audiences.

Sales Funnel The process by which individuals or companies discover a problem or need, identify potential solutions or vendors, conduct research, and make a final purchase decision that addresses that specific need. Subject Matter Expert SME A person who has a breadth of experience and knowledge in a particular area, industry, or topic. Top of the Funnel The beginning of the marketing funnel, where prospects are just starting to identify a problem, look for more information, and learn about potential solutions.

Backlink An incoming hyperlink from one web page to another website. Blog An owned media asset that a company or individual uses to publish and distribute high-quality content that educates, entertains, and engages a specific audience. Buyer's Journey The process buyers go through as they research product and service options and educate themselves before making a final purchase decision.

Content Marketing Funnel The different stages — from education to purchase — that content strategies take leads through. Contributor Someone who writes and publishes a piece of content in an external publication or media outlet. Distribution Plan A mapped-out strategy and process for sharing a particular piece of content or promo item. Earned Media Media exposure a company earns organically, often by accomplishing something truly newsworthy and attracting media attention, distributing press releases, securing press mentions, contributing guest posts to publications, and achieving word of mouth.

Editorial Calendar The schedule an organization uses to plan content creation, manage content production, and ensure consistent publication each month. It visualizes the inbound marketing methodology as a circle broken up into three phases: attract, delight, and engage.

And your audience is broken up into four groups: strangers, prospects, customers, and promoters. Gated Content High-quality owned content, housed behind a form, that website visitors can only access by submitting contact information and that fuels a company's lead generation. Infographics Visual images, such as charts or diagrams, that are used to explain information or data.

On-Site Content Any content a company hosts on its own website. Off-Site Content Any content that's placed on another website. Organic Distribution A method of distribution by which content is naturally circulated among an audience, such as through social media shares, referrals, and search engine results. Owned Media Marketing assets a company has control over, including its website, blog, whitepapers, and email campaigns.

Paid Distribution A method of distribution by which content is circulated and amplified among a target audience via paid promotion, such as promoted posts on social media and paid ads on search. Webinar An online seminar hosted by a company or multiple companies in partnership that provides value and education to a specific audience and fuels lead generation by requiring attendees fill out a registration form.Definition: The Marketing Research is the systematic collection, analysis, and interpretation of data pertaining to the marketing conditions.

The basic reason for carrying out the marketing research is to find out the change in the consumer behavior due to the change in the elements of the marketing mix product, price, place, promotion. The marketers need to know about the changing trends in the market viz.

Thus, marketing research is done to gather all the relevant information about the market and design the marketing strategies accordingly. This is well articulated.

Marketing Research

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For researchers and analysts alike, MRS provides training, content, networking and awards to help you and your teams deliver effective data analytics and business insight.

Common Marketing Research Terms

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Create account. Home — Glossary. A database of individuals who have agreed to be available for surveys of varying types and topics. Rising rates of refusals and non response, make it more difficult to recruit for a single survey, therefore sampling from a pool of potentially willing marketing research respondents can be seen as an appropriate way of saving time and money.

A specialised type of individual depth interview, which involves respondents being interviewed while they shop in a retail store and combines observation with detailed questioning.

The hypothesis where some difference or effect is expected i. A badly constructed question which results in respondents and researchers reading different meanings into what is being asked, resulting in inappropriate or unexpected answers.

A type of stimulus material where key frames for a television advertisement are drawn or computer generated with an accompanying sound track.

An approach taken to analyse qualitative data using codes or comments on the transcripts to categorise the points being made by respondents. A type of cluster sampling in which the clusters are created on the basis of the geographic location of the population of interest. An examination and verification of the movement and sale of a product. There are three main types: wholesale audits, which measure product sales from wholesalers to retailers and caterers, retail audits, which measure sales to the final consumer, and home audits, which measure purchases by the final consumer.

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For all those who need, generate or interpret the evidence for making good business and policy decisions. Click here to find out more about us. Other MRS sites. Research Jobfinder The No. Research Live The definitive source of research news and opinion. Fair Data The Fair Data mark helps consumers recognise who they can trust. Geodemographics GKB For people interested in the application of geodemographics and big data. Research for small businesses Tips and case studies for how SMEs can use research to grow their business.

Recruiter Accreditation The RAS website provides training materials for use by qualitative research recruiters. Settings Update your password, personal details and email preferences. Services Access member services and content. Membership We offer a wide range of events to drive innovation, host debate, recognise through awards and connect you with other research professionals. Members My membership Member directory Renew your membership.R-Language : An open-source, free software that can manipulate, analyze, and graph large datasets with complex variables.

Race is often used in U. Race is slowing fading as a meaningful term, as populations mix. Raking : Sample marginals are forced to match the known population marginals from a census or other source by an iterative procedure.

Deming during the s.

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Random : A condition in which each person, event, or object has an equal nonzero probability of selection. Random forest regression is one of several modeling techniques using ensemble methods that combine regression models from a number often thousands of models using bootstrap samples of the data set. Learn More. Random Sampling : A sample in which each person, unit, or event has an equal and independent chance of selection.

marketing research terminology inc

Random Variable : A variable whose value is determined by chance. For example, "heads" or "tails" is a random variable for a coin toss. The answer to a given survey question by a person randomly selected from the population is a random variable. Random-Digit Dialing RDD : A selection of telephone numbers where the digits in the phone numbers are chosen by random methods chance. Random-digit samples include unlisted and nonlisted phone numbers.

Random-Digit Sample : Creating phone numbers using random methods, so that unlisted numbers and new connections are included. Randomization : The random assignment of people to experimental cells or to sample cells, or the random order of answer choices. Randomized Block Design : A type of statistical experimental design where units are blocked or grouped on the basis of one external variable to ensure that the experimental and control groups are matched on that variable.

Range : The maximum value for a variable minus the minimum value for that variable i. Rank-Order Scale : A scale in which the respondent compares one item with another or a group of items and ranks them on some attribute or dimension.

Ratio Scale : An Interval scale with a meaningful zero point so that values can be compared arithmetically. Also known as Metric Scale. Raw Data : Survey data before quality-assurance processing, and before any tabulation, analysis, or interpretation. Reach : The percentage of a target population exposed to a commercial or advertisement at least once within some time frame.

Readership : The number of people who read a particular publication. The term is also used to measure the percentage of magazine readers who read a particular ad. Recall Measurement Recall Test : A type of posttest that investigates respondents' ability to recall something they may have read, heard, or seen. Recall measurements can be taken without or with the benefit of some form of stimulus material.

Market Research

Recommendations : The section of a research report that suggests the marketing steps or actions required, based on the findings of the research.

Recontact : To go back to a survey respondent and ask additional questions after the initial survey is completed. Recruiting : The inviting of selected participants those who qualify to take part in a research project or survey. Recruitment : The process of recruiting participants for focus groups or other research studies. Refusal : A respondent who refuses to participate in a survey.

Refusals are tracked at various stages within a research project initial refusals, qualified refusals, etc.

Refusal Rate : The percentage of people contacted who decline to participate in the research study. Regression Analysis : A multivariate technique that attempts to explain changes in a dependent variable based on changes in one or more independent variables. Regression Coefficients : Values that indicate the relative importance of each of the independent variables in a regression equation.

marketing research terminology inc

Regression To The Mean : Tendency for people or events to move toward the average during the course of an experiment or over time. Rejection Region : The region of the distribution of the test statistic whose values would lead to the rejection of the null hypothesis.

Related Recall : A percentage of respondents who can recall a brand's advertising and remember at least one message or idea from that advertising and relate it to the advertised brand.Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services.

The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior. This involves specifying the data required to address these issues, then designing the method for collecting information, managing and implementing the data collection process.

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After analyzing the data collected, these results and findings, including their implications, are forwarded to those empowered to act on them. Market research, marketing research, and marketing are a sequence of business activities ; [2] [3] sometimes these are handled informally.

The field of marketing research is much older than that of market research. Marketing research is often partitioned into two sets of categorical pairs, either by target market:. Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economyand it aims to understand the effects and comparative success of marketing campaigns.

Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing.

The purpose of marketing research MR is to provide management with relevant, accurate, reliable, valid, and up to date market information. Competitive marketing environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment. Managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs.

They make decisions about potential opportunities, target market selection, market segmentation, planning and implementing marketing programs, marketing performance, and control. These decisions are complicated by interactions between the controllable marketing variables of product, pricingpromotion, and distribution.

Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes. Another factor in this mix is the complexity of consumers.

Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. It helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, consumers' response to marketing programs cannot be predicted reliably or accurately.

Ongoing marketing research programs provide information on controllable and non-controllable factors and consumers; this information enhances the effectiveness of decisions made by marketing managers. Traditionally, marketing researchers were responsible for providing the relevant information and marketing decisions were made by the managers. However, the roles are changing and marketing researchers are becoming more involved in decision making, whereas marketing managers are becoming more involved with research.

The role of marketing research in managerial decision making is explained further using the framework of the DECIDE model. Evidence for commercial research being gathered informally dates to the Medieval period.

Inthe German textile manufacturer, Johann Fuggertravelled from Augsburg to Graben in order to gather information on the international textile industry. He exchanged detailed letters on trade conditions in relevant areas. Although, this type of information would have been termed "commercial intelligence" at the time, it created a precedent for the systemic collection of marketing information.

During the European age of discovery, industrial houses began to import exotic, luxury goods - calico cloth from India, porcelain, silk and tea from China, spices from India and South-East Asia and tobacco, sugar, rum and coffee from the New World. During this period, Daniel Defoea London merchant, published information on trade and economic resources of England and Scotland.An approach where a theoretical framework is developed from the research after it has been conducted.

Market segmentation which is not empirically based.

marketing research terminology inc

It involves segmenting markets on the basis of assumptions, custom, or hunches. Research projects that aim to describe users and non-users of a product, together with their attitudes towards the product. A version is normally your existing design "control" in statistics lingo ; and B version is the "challenger" with one copy or design element changed.

A classic example would be comparing conversions resulting from serving either version A or Bwhere the versions display different headlines. The difference between the true value of a parameter in the population and a value derived from a survey. Total error is the sum of the sampling and non-sampling errors in a survey. A form of observation study where an interviewer accompanies a respondent with his or her agreement as they go shopping.

Generally the person in any company responsible for selling or promoting the services which the company has to offer. In marketing research, this is typically the person at the research company who oversees the entire research process to deliver a project which meets the client's expectations.

This person would normally be the client's key contact. A term used in factor analysis that represents the proportion of variance in an original variable accounted for by all the extracted factors. Each original variable will have an achieved communality value in the factor analysis output.

ACORN is a geo-demographic tool assisting business in understanding their target market. ACORN focuses on population location and other lifestyle variables. Individuals in rural locations have different purchasing behavior than those residing in bustling downtown neighborhoods.

The information gathered by ACORN allows business to concentrate marketing strategies for specific geographic locations. This impacts marketing campaigns, where to open the next franchise, which store location to close and more. Acquiescence Bias aka "yea saying" or "friendliness effect" : A systematic bias caused by some respondents tending to agree with whatever is presented to them. Such a bias may be caused by either respondents or interviewers being overly friendly during interviews.

A direct marketing technique creating involvement by the respondent through the physical use of an involvement device. Involvement devices typically are tokens or stamps that are used with the marketing material. Publisher's Clearing House is a good example employing this marketing theory. Ad blockers prevent an Internet browser from displaying online advertisements.

However, ad blockers can prevent useful Internet browsing functions. Testing on a target market segment employed to evaluate advertising theme concepts. The testing results can determine the most appropriate pricing, brand concepts, appeals, and positioning strategy concepts. Respondents provide responses to questionnaires, surveys or interviews.

Research that is specifically designed to address a particular problem or issue.By Michael Hyman, Jeremy Sierra. Conducting marketing research involves working with professionals who use a variety of terms to describe the parts or steps of the research process.

Close-ended question: A survey question that asks you to choose from a variety of answers — like a multiple-choice question. Data: The actual measurements that you get from your research. Focus group: A small-group discussion, led by a moderator, about a research question. Mean: Used to measure the center, or middle, of a numerical data set. Also known as the average. Mode: A detail, such as value or score, that occurs most often in a given set of data. Nonprobability nonscientific sample: A research sample that reflects information only of people who choose to respond; the probability of selecting certain population members is unknown.

Open-ended question: A survey question that you answer in your own words, instead of choosing from a list of responses.

Probability scientific sample: A research sample that reflects information that can be proved with very little or no margin of error. The circumstances under which questions are asked are so rigid that they enforce the truth; the probability of selecting certain population members is known. Reliability: The accuracy, precision, and consistency of information being measured. Response bias: A conscious or subconscious tendency to not respond truthfully to research questions.

Response rate: The number of research questionnaires completed divided by the number of eligible respondents who were asked to participate in a survey. Validity: The accuracy of a measure; the degree to which a score accurately captures the type of information being sought. Variable: A quality or quantity that can change from person to person such as annual income depending on the type of information being gathered. Jeremy J. SierraPhD, is an assistant professor of marketing with a teaching interest in sports marketing and marketing research.

Common Marketing Research Terms.

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