How To Calculate Market Research ROI?

Determining the ROI of market research can be difficult because market research is not directly linked to profit. However, one option is to estimate the cost risk of making a poor business decision, estimate how much market research will reduce that risk, and calculate the cost savings. Another is to determine the value of the…

What is Sampling in Market Research?

Sampling is the process of surveying a small group and extrapolating their responses to a larger group. Instead of surveying every member of a population what products or services they prefer, you use a sample size calculator to determine how many responses are needed from the group to obtain valid data at a particular confidence…

What Are Descriptive Statistics in Market Research?

Charts, tables, mean scores, averages and percentages are used to describe survey data. For example, if a question asks customers about their perception of the company, descriptive statistics may be used to summarize how many responded positively and negatively. Inferential statistics must be used to draw conclusions from the data.

How To Present Market Research Results?

The first thing to do is understand your audience. Are you sharing the results with your boss, your partner, or your marketing team? Determine what you want them to take away and be sure to make the most relevant points a priority in your report or presentation. The format of your presentation will be important,…

How To Conduct Market Research For Small Businesses?

The first step is to have a well-defined goal for the research so you know what you want to accomplish. Is there a need for your company to fill? Do customers know your brand? The next step is determining what information you need to accomplish that goal: for example, if you want to determine how…

I’m Interested in Conducting Market Research, What do I Need to Know?

Organizations are often in such a hurry to move a product/service to market, they can rush the data collection process. As a result, they end up with collecting data that is skewed or inaccurate in some way. When performing market research, one of the most important things to ensure is whether a sample size is…

What is Brand Engagement and Why Does it Matter?

Brand engagement signifies an emotional commitment to a brand. It’s more than brand awareness; it is loyalty and word-of-mouth marketing. Brand engagement is important both internally and externally. Building the brand internally and obtaining employee engagement with the brand helps to further solidify and build the brand ultimately improving the brand for consumers. Social media…