The Words of Market Research
Get through market research vocabulary. Understand the jargon and get things done!
Glossary
| Term | Main definition |
|---|---|
| A/B Testing | Testing of several variants of an item to see what the consumers like the most. It is used to test packaging, TV ads and collect feedback and reactions. It helps in having a look at different versions of a product and analyze consumer's reactions. |
| Access Panel | An access panel is a group of respondents, recruited by a market research company, and who is willing to take part in surveys against some incentive for their efforts. These surveys can be done online / on mobile, face to face, over the phone or at a facility. Incentives can be cash, reward, vouchers, gifts... |
| Ad Hoc surveys | Ad hoc, opposite to tracking study is a one-off project, made for a single client to answer a specific question or a problem. Most qualitative research is done 'ad hoc'. It is made for completing a task or resolving a problem. As this project is run in a short period of time, a few teams from different departments can collaborate together. See also Quantitative Research |
| Ad testing | Test advertisements to optimize performances and look for room for improvement if needed. Ads are also tested to collect feedback on potential consumers so that the scenario of the ad can be improved or modified to make it more efficient. Ad testing is usually run on a representative sample of your market. |
| AI | When the machine meets the human. All technologies, techniques used and put together to build machines who are able to be intelligent, similar to humans, and how humans think. In today's life, AI is used in many aspects: technology, blockchain, computer systems, tools... See also Blockchain |
| Animatic | The animatic is used at the very beginning of the process of realizing a TV ad, for instance. Animatics are used in the early stages of advertising copy tests. It cuts down the costs of the full process, it is possible to test consumer reactions to the idea behind the communication, identifying generated associations, measuring persuasion, or main weaknesses to eliminate. Then, it is possible to improve the add. See also: Story board |
| API | Automated Program Interface (API) is an interface used to receive API calls and connect different databases in a second and including different panels to integrate different sources of respondents for a better reach. This API technology makes sampling and inviations of respondents much faster. Thanks to the API, we can reach a large database of respondents in a few seconds. |
| Audit Marketing | A critical survey of a part or the whole marketing strategy of a company leading to an internal diagnostic. Directors and CEOs can use this essential audit report to review the statements of the company and take important decisions. Managers can look for areas where improvement is needed to raise the revenue of the company. |
| Automated Dashboard | It is an automated tool that displays and analyses Key Performance Indicators. It is mainly used during presentations after research has been carried out or to monitor and track data insights at the moment. These outputs will help a company in looking at what is currently going on and what measures can be taken. A dashboard can also show in real-time the company's figure for a better decision making process. Also see: Charting |
