Taking up Marketing Research involves working with those professionals who make use of a variety of terms that are used to elaborate the various steps of the research process.
- Closed Ended Questions: These are the survey questions that expect the respondent to choose from a variety of questions. This is quite like a multiple choice question option.
- Data: The actual measurement that one gets from research is called the data
- Focus Groups: A small kind of a group discussion that is led by a moderator
- Mean: This is basically used to identify the centre of a data set. Usually a numerical data set. It is also called the average and is calculated by taking out the sum of all the numbers and dividing them by the total number of numbers
- Median: it is the true centre of a numerical set of data. It is also the middle ranked value or score.
- Mode: the value that occurs most often in the numeric data set is called the mode
- Non probability Sample: A research sample that reflects the information only to these people who have the inclination to respond. There is unknown chance of selecting certain people in the population
- Open ended questions: a question where the respondent gets the freedom to write the answer in his own words and no choose from the list of limited options
- Probability sample: this is a more scientific sample and gives that information which can be proved with minimal scope for error. The questions reflect anything but the truth because of the circumstances in which they are asked.
- Reliability: The accuracy and precision of the information that has to be measured
- Response Bias: a tendency that may be conscious or sub conscious but leads to untruthful responses to the questions
- Response Rate: It is the total number of conversions in terms of successful data collection divided by the respondents who were asked to participate in the first place.
- Test Marketing: It is a controlled experiment that mirrors the precise conditions of the market
- Validity: the degree to which the accuracy of the score is captured by the information that is sought
- Variable: those factors that can change from one person to another and have the acope of subjectivity in data collection
