Multicollinearity – A Marketing Researcher’s Curse Word by Audrey Guinn, PH.D.
What is Multicollinearity?
Multicollinearity (also known as collinearity) occurs when two or more variables are very highly correlated. Singularity, a more serious form of multicollinearity, occurs when two or more variables are redundant, where one variable is a linear combination of the others.
Getting Comfortable: An Unexpected Theme During The Pandemic by Felicia Rogers
It’s no secret that when COVID-19 hit the U.S., life changed swiftly and dramatically. Most people began spending so much time in their homes that desires to spruce things up emerged almost immediately.
What exactly were homeowners doing? Here’s a summary of activities from our ongoing Consumer Reactions to COVID-19 research.
Shock’ supply shortages are nothing new to the country, especially in times of war or oil embargoes, but this is a mostly new experience for today’s younger- to middle-aged consumers.
So how do today’s consumers feel when their favorite brand of English muffins is out of stock for the first time ever? What action do they take when there is little selection of new pickup trucks at the dealership, and the less-desired model is available—but costs 10% more than it did last year?
Reliability and Validity from a Scientific Perspective by Elizabeth Horn, Ph.D.
Different words can be synonymous in a casual conversation, but take on different meanings in a scientific context. Both “reliable” and “valid,” for instance, are used to mean “robust” or “accurate” in everyday speech.
The concepts of reliability and validity are not interchangeable from a scientific perspective, however. These two words are not identical, and understanding the difference is important when interpreting research outcomes.
How to Succeed in a World Gone Supply Chain and Logistics Crazy! by Bonnie Janzen
How can your organization manage the craziness in this world, given all the supply chain and logistics challenges? So how is a business supposed to succeed in the midst of all this chaos?
Given all of these outside “unusual demands and supply chain constraints” on business, over-delivering on the customer experience can really pay off. Here are a few ideas to help you surprise and delight your customers during these times.
Listen More, Plan Better: Searching For Authenticity In Environmental, Social, And Corporate Governance (ESG) Planning by Sara Sutton and Mai Tolentino
Environmental, social, and corporate governance (ESG) issues have been at the forefront of the news in recent times.
With environmental consciousness rising, social movements finding greater audiences, and corporate boards being held more accountable for how businesses are run, assessing, planning, and enacting new policies for ESG issues has become increasingly important.
The 411 About Deriving Marketing Claims From Market Research by Sara Sutton and Sheela Avila
Have you heard that the average person has the attention span of a goldfish?
While that’s an exaggeration, it’s true that marketers have just a few seconds to capture a person’s interest in buying or recommending your product. To do this, companies will often use marketing claims, which are typically short, snappy phrases that pack a punch! Including impactful claims, using words and phrases that resonate with consumers, is an easy way to increase your product’s stopping power and ultimately increase sales.
5 Reasons To Think Like A Squirrel by Tom Allen
This is an article about how to think like a squirrel. The inspiration of thinking like a squirrel came from witnessing their behavior, oddly enough.
How should you think like a squirrel? Don’t take the shortest path to your destination. Look for new ways to accomplish your personal or business goals that might lead you to new experiences, relationships, sights, or locations.
Like its in-person counterpart, an online focus group allows businesses to use a moderator to talk directly to consumers to ask key questions, to show a variety of stimulus types, to capture group interaction, and more.
But, in conducting online qualitative, don’t forget the role of, and the importance of being a backroom observer. Here are four ways to use the backroom as a means to get the most from your qualitative research.
The New Kid In Town: Gen Z by Cari Peek
Social, economic, political, and technological advancements made a mark on Gen Z.
Understanding their generational mindset is vital to helping marketers better understand how to reach and communicate with consumers. Currently, Gen Z represents $44 billion in direct buying power in the U.S. – and most don’t even have jobs yet. As you read the details that follow, I challenge you to think about your brand and how Gen Z’s perspective on these events and societal norms may impact it.
Advertising Claims Substantiation by Jerry W. Thomas
Is it a good idea to make a head-to-head comparative claim against a competitor?
Before you rush off to create that great head-to-head commercial, a recommended best practice is to test a number of different advertising claims or messages, to see which types of claims resonate with your target audience. Here are some tips an advice for advertising claims substantiation.
Political Divide Deepens Around the Pandemic by Audrey Guinn, Ph.D.
Republicans, Democrats, and Independents seem to be drifting further apart and these differences are noticeable not only within political ideology but also within more mundane aspects of life.
Decision Analyst’s monthly “Consumer Reactions to COVID-19” tracker finds that these divisions exist within beliefs about COVID-19 and the vaccine, feelings surrounding the pandemic, concern about the pandemic, and even comfort levels with gathering in different situations.
Insights, Not Oversights! (A Market Research Checklist) by Sara Sutton and Stephanie Trevino
As market researchers, our goals and responsibilities are to deliver thoughtful, accurate, data-driven insights to our partners.
To do this successfully, we should always ask ourselves these questions: Is this methodology right for the audience, topic, and objectives? Am I being too narrow or making assumptions about my target population? Am I screening and including a representative set of respondents?
The Bridging Model: Connecting A Segmentation To Customer Databases by Elizabeth Horn, Ph.D.
Segmentation is a very powerful tool. When possible, leverage that power by applying the segmentation to your company’s customer database(s).
Organizations that successfully classify their customers into segments increase the likelihood that their brand communications and new products will meet the needs of those customers. This makes the time, effort, and investment to build the “bridge” worthwhile.
Who’s More Likely to Receive the COVID-19 Vaccine? by Audrey Guinn, Ph.D.
Personal characteristics and situational circumstances are potential explanations for why some people receive the vaccine while others do not.
Therefore, we wanted to understand differences in ethnicity, age, political affiliation, income, gender, area lived in, and occupation with regards to vaccination. To examine these potential demographic differences, we analyzed the data from Decision Analyst’s monthly “Consumer Reactions to COVID-19” tracker.
Consumer feedback. There’s the good, the bad, and the ugly.
When you’re seeking feedback through a survey, the good news is that you’re in control. A well-designed survey can help you answer the “whys” behind negative feedback and even help you understand which low-rated areas to prioritize. Here are three simple but effective ways to get the most out of survey feedback of all kinds.
Motivators for and Barriers to Getting Vaccinated Against COVID-19 by Audrey Guinn, Ph.D.
As of May 20th, 48% of the population has had at least one dose. However, that leaves a little over 50% of the population unvaccinated.
Using the data collected in Decision Analyst’s monthly “Consumer Reactions to COVID-19” tracker, we did examine what impact, if any, beliefs about COVID-19 and its vaccine have on the decision to get vaccinated.
Delivering bad news is an unpleasant task, but learning to do it effectively (and tactfully) can prevent a costly disaster in the marketplace.
It can also provide you an opportunity to boost your credibility and improve your professional relationship with the client. So, how do you tactfully relay bad news? Here are six tips to ensure your results are not just heard but accepted and acted upon.
Navigating Business-to-Business-to-Consumer Relationships by Julie Trujillo
What if you are one of the many companies whose product or service goes through an intermediary?
And, what if that intermediary has a strong influence on your brand’s relationship with the end customers? Operating in a business-to-business-to-consumer environment creates extra complexity to consider.
Like many of you, I spend a good part of my day thinking about all the ways the near future will (hopefully) be different from the past year.
But what will the future look like? I’m no futurist, but I see a short-term demand boom coming for many industries. This list is not all-inclusive but just a few examples.
Sins of the Fathers by Jerry W. Thomas
The Fathers of Marketing Research invented a number of extremely powerful and valuable tools, methods, questions, and concepts that we all use and benefit from every single day.
But no one is perfect, and our industry Fathers committed sins that blight our industry to this day.
5 Steps To Optimizing The Lifetime Value Of Customers by Sara Sutton
Customer loyalty directly improves the bottom line by increasing the lifetime value of each customer.
This is true in any industry, but particularly in those where the customer will interact with the brand (and its agents) over and over, such as in healthcare, insurance, financial services, travel, etc. Think about the following steps when optimizing the customer experience (and thus, the lifetime value of your customers).
In Search of the Holy Grail Customer Experience by Heather Kluter
Understanding the experience consumers have with brands is more important than ever, especially when attempting to get them to return to an abandoned brand and stick with it.
Traditionally, brands that win have always placed customer experience before everything else, but now understanding the changing, lasting expectations of post-pandemic consumers is more important than ever.
Clear, well thought out study objectives are critical to any market research project's success, no matter the size, scope, or cost.
FA well-written background and a clear set of business objectives establish your study's tone, pace, and direction and ultimately lead to better outcomes as you navigate the different research phases. Here are five guidelines you should follow when writing your research objectives.
User-Centric Innovation: 3 Important Tactics To Help Ensure New Product Success by Felicia Rogers and Hillary Semmelman
Focusing on the consumer is a critical step to ensure new products meet the needs and expectations of end-users.
From a research perspective, there are several ways to engage with potential customers to help guide the innovation process. We’ll address three broad research tactics that many companies use to accomplish their goals: Qualitative Research, Concept Testing, and Choice Modeling.
It’s Time to Put Those Negatively Worded Items Behind Us by Audrey Guinn Ph.D.
In an effort to catch survey cheaters, researchers use negatively worded attributes placed in groupings of positively worded attributes.
This context switching causes respondent confusion, which creates error. It may be time for researchers to relinquish negatively worded attributes. So, how can researchers catch cheaters, speeders, and straight-liners if negatively worded attributes are no longer included in the survey?
2020 and its challenges have been extremely difficult to navigate!
Despite the long list of negatives from 2020, there are several positive trends from the year, including: Strengthening relationships, Connecting with loved ones, Improving communication between teachers and students, Focusing on self-care and mental health, Continuing work-from-home/work remotely, etc.
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Blogs By Decision Analyst Researchers
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- Cari Peek
- Felicia Rogers
- Heather Kluter
- Julie Trujillo
- Lesley Johnson
- Mike Humphrey
- Sara Sutton
- Tom Allen
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