A technique used in qualitative market research, mapping typically requires respondents to consider and group a number of elements according to criteria of their own choosing, or supplied to them by the moderator.
For example, a number of potential product features and benefits may be written on individual shuffle cards with respondents being asked to sort those cards in to individual groups that make sense to them, or in to groups reflecting (for example) ‘more important’ versus ‘less important’ criteria.
Mapping provides a very good way of helping respondents structure and articulate their thoughts.
Market Entry Research or Market Sizing Research
The purpose of this form of market research is to provide brand owners with the information required to make important decisions regarding potential market entry, expansion or pull back.
Typically, these studies are undertaken using a blend of qualitative and quantitative research combined with desk work using publically-available information and potentially the client’s own data.
The purpose of such research is either to de-risk the brand’s investment or maximise its future profitability.
A Market Entry Report from Brandspeak may include:
Market background and history
Market size and growth trends
Customer segmentation: size, sub-groups, needs, behaviours, attitudes, triggers and barriers
Key brand players – their sizes, propositions, features and benefits, distribution profiles, advertising and marcoms
SWOT and PEST analyses
Potential gaps and opportunities
For more on market entry research from Brandspeak please contact email@example.com
Market Research Online Community (MROC)
A Market Research Online Community or MROC is a form of online, moderated, qualitative, research comprising a series of discussions and tasks that take place over a period of weeks or months.
One benefit of an MROC is that it is not demanding of respondents who can ‘dip in and out’ at regular intervals.
The protracted nature of an MROC also enables a more detailed and complete exploration of respondents’ opinions and reactions.
In addition, it provides marketers and market researchers with the chance to develop their thinking as the research progresses - and add to or amend the discussion and stimulus material accordingly.
Within an MROC respondents respond to discussion threads and upload videos and other media content, as well as being encouraged to interact directly with other participants.
Market Research Panel
A market research panel is made up of consumers who have either applied or been invited to become panel members.
They are typically invited to take part in a number of research projects for different brands, often over a short time period.
Panel members may be asked to complete surveys, answer questions, upload materials and even take part in other forms of market research.
Respondents are often incentivised with points with they can redeem for gifts or cash.
Panels can be consumer or business-oriented.
Market Research Society (MRS)
A professional society based in the UK, for those who are involved or concerned with marketing and opinion research. For more information see https://www.mrs.org.uk
The practice of measuring and analysing marketing performance to maximize its effectiveness and optimize return on investment.
A smaller group discussion usually involving 4 people. Also called a quad.
Mobile Market Research (MMR)
Market research which the respondent participates in via a handheld device such as a mobile or tablet.
The term refers to a research approach whereby a single piece of stimulus material, (for example, a new product proposition or advertising concept) is evaluated in isolation, rather than being compared with other concept options.
This refers to the research approach whereby respondents describe brands in relation to the five senses: smell, taste, sound, sight and touch.
The approach is most appropriate for brands oriented towards the senses e.g. food and drink.
For moderators, this form of research provides a means obtaining a richer and deeper understanding of the consumer’s relationship with the brand, as well as making it easier for respondents to discuss their relationship with something that, on the surface, may appear quite ‘everyday’.
Multivariate Analysis Market Research
‘Multivariate’ means ‘many variables’. ‘Multivariate analysis’ means ‘analysing multiple variables from customer records to get a deeper understanding of the customer’.
The most common forms of multivariate analysis include cluster analysis and hierarchical analysis.
Cluster analysis uses statistical techniques to allocate customers into segments based on how similar, or dissimilar, they are to each other.
Mystery Shopping Market Research
Mystery shopping refers to a market research approach whereby researchers pose as shoppers and undertake pre-defined ‘shopping’ tasks in order to assess the nature of the customer experience being provided by the brand.
For example, if mystery shopping research is being conducted in a retail outlet the mystery shopper may focus on issues such as footfall, tidiness and cleanliness, signposting and ease of locating items, displays and merchandising, ease of checkout, willingness and availability of staff to respond to questions and requests for assistance.
Mystery shopping is conducted amongst the brand’s own outlets and those of its competitors. It is most frequently conducted by automotive brands, travel brands, hotel brands, banks, building societies, public-facing Government departments and food chains.