The Price is Right

How as market researchers can we help our brethren in marketing, sales and product development assess whether or not our price in the ballpark? There are numerous ways to test price including market experiments designed to measure elasticity up through several survey-based techniques. A key question...read more

Using Binary Scales to Shorten a Survey

In consumer or B2B marketing research, as in life in general, there is typically more than one way to ask a question. Some of these methods are easier on the part of the survey respondent, while others although a bit more complicated yield richer results for our survey data analysis. When we are...read more

Question: Are Your Samples Representative?

For both B2B and consumer market researchers the question that lies in the back of our minds is to what degree is our sample a reasonable measure of the population(s) we are interested in? All aspects of our projects can be spot on, but if the respondents do not form a representative sample then the...read more

Testing Ads Before they Launch

One of the major advances offered by online survey platforms, such as Cvent, is the ability to incorporate multi-media. In days gone by you would have had to recruit members of your target market(s), invite them to attend an event and then expose them to the proposed ads, pilot television shows or...read more

If I knew then what I know now - multi-channel surveys

What I knew then… I heard a statistic yesterday that the average smartphone user is never more than three feet away from their phone. I am not sure I find this good, bad or I'm just indifferent, but it does play into our need as consumer and B2B market researchers to expand our delivery options. The...read more

A Nickel Here a Dime There

Surveys can be used to assess opinions on our messaging and the propositions we put forth into the market. It makes sense that we would want to leverage statements that resonate with the thought process of our consumers and prospects. This is where consumer and B2B market research can inform the...read more

Using the Van Westendorp Pricing Model

Organizations tasked with making a profit operate under a strategy which is dependent upon multiple factors including market share; volatility; brand position; and other factors including the current state of the economy. The primary goal here is to maximize the profit generated by the firm....read more

Testing Prices One at a Time

As mentioned in a previous post there are several survey-based methods for testing the market’s perception of price. Monadic price testing in one such method. In monadic price testing the respondent sees one price and is asked to state his or her purchase intention at that price point. This design...read more

The Magic Behind Creating Averages from Categories

In a recent post we examined the use of numerical data versus ordered ranges. Both methods certainly have their advantages and limitations. Numerical data allows you the ability to apply a full range of statistical tests and the option of creating numerous categorical ranges. In short, it is a...read more

Capturing Numerical Data

There are many ways to get to the truth. This is certainly the case when it comes to questionnaire design. One of the areas I am frequently asked to comment on is the best method for capturing numerical data such as income or weekly budget for groceries. This nugget of truth has many paths leading...read more
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