Chapter 4

Question 1

Bounce Rate

Answer 1

The number of people who view one page and then leave a website without viewing any other pages. Data statistics and facts collected for analysis.

Question 2

Data Sentiment Analysis

Answer 2

The systematic analysis of subjective materials, such as survey responses or social media posts, in order to determine the attitude and intended emotional communication of the customer

Question 3

Focus Group

Answer 3

A form of qualitative research where people are asked questions in an interactive group setting. From a marketing perspective, it is an important tool for acquiring feedback on new products and various topics.

Question 4

Hypothesis

Answer 4

A supposition that is tested in relation to known facts; a proposition based on reason but not necessarily assumed to be true.

Question 5

Listening Lab

Answer 5

A testing environment where the researcher observes how a customer uses a website or product.

Question 6

Observation/Online Ethnography

Answer 6

When a researcher immerses themselves in a particular

environment in order to gather insights.

Question 7

Primary Research

Answer 7

The collection of data to present a new set of findings from original research.

Question 8

Qualitative Data

Answer 8

Data that can be observed but not measured. Deals with

descriptions.

Question 9

Quantitative Data

Answer 9

Data that can be measured or defined. Deals with numbers.

Question 10

Research Community

Answer 10

A community set up with the intention of being a source for research.

Question 11

Research Methodology

Answer 11

Methods employed in research to reach results.

Question 12

Sample Size

Answer 12

The number of respondents in a sample of the population.

Question 13

Secondary Research

Answer 13

The collection of existing research data.

Question 14

Sentiment

Answer 14

The emotion attached to a particular mention which is positive, negative or neutral.

Question 15

Statistically Significant

Answer 15

A sample that is big enough to represent valid conclusions.

Question 16

How can you keep your brand and products relevant to ensure you are meeting your customers’ needs?

Answer 16

Conduct market research. It helps you make

informed business decisions.

Question 17

What does market research involve?

Answer 17

Systematically gathering, recording and analysing data about customers, competitors and the market, and turning this data into insight that can drive marketing strategies, product design and positioning and communications strategies.

Question 18

What is Online Market Research?

Answer 18

The process of using digital tools, data and connections
to glean valuable insights about a brand’s target audience.

In other words, it’s the process of learning about your audience by engaging and observing them online.

Question 19

Benefits of Online Market Research?

Answer 19

• The Internet is always on, meaning that data is readily available at any time.
• Many of the processes for finding, gathering and storing data can be automated. For example, you can get an automatic email alert if someone mentions your brand, or you can set up self-administered digital surveys.
• You have access to a large number of participants around the world at the click of a button. A lot of the information you will use is already being automatically collected such as web analytics and social media data all you need to do is access it.

Question 20

Reasons why you should conduct regular market research?

Answer 20

• To gain insights into your consumers, this can include:
o What customers want and need from your brand
o What customers like and dislike about the brand
o Why customers buy the brand’s products or services
o Why potential customers might choose your brand over another
o Why (or why not) customers make repeat purchases

• Understand the changes in your industry and business
• Discover new market trends on which you can capitalise
• Find new potential sales avenues, customers, products and more
• Find and engage new audiences
• Allow customers to help steer your business

Question 21

Four key concepts to understand before conducting your own research:

Answer 21

1. Research methodology
2. Qualitative and quantitative data
3. Primary and secondary research
4. Sampling.

Question 22

Research Methodology

Answer 22

The process followed in order to conduct accurate
and valuable research. The research process should involve certain steps.

1. Establish the goals of the project
2. Determine your sample
3. Choose a data collection method
4. Collect data
5. Analyse the results
6. Formulate conclusions and actionable insights (for example, producing reports).

Question 23

Primary and Secondary Research

Answer 23

Primary Research:
Surveys, focus groups, research panels and research communities can all be used when conducting primary market research. Can be either qualitative or quantitative. Can help to develop the hypotheses or research questions that must be answered by further research.

Secondary Research: (should precede primary data research)

Secondary data can:
• provide enough information to solve the problem at hand, thereby negating the need for further research.

• provide sources for hypotheses that can be explored through primary research.
• provide information to inform primary research, such as sample sizes and audience.
• used as a reference base to measure the accuracy of primary research.

Question 24

If a community is established for
research purposes, the resulting feedback is considered _______ ____, but using
social media to research existing sentiments is considered _________ ________.

Answer 24

primary data, secondary research

Question 25

___________ research aids in identifying potential hypotheses, whereas ____________ research puts hard numbers behind these hypotheses.

Answer 25

Qualitative, quantitative

Question 26

Qualitative Challenges

Answer 26

Shouldn’t be used to evaluate pre-existing ideas. | Results are not predictors of the population.

Question 27

Quantitative Challenges

Answer 27

Issues can be measured only if they are known prior to starting. Sample size must be sufficient for predicting the population.

Question 28

Sampling

Answer 28

Qualitative research is usually conducted with a small number of respondents in order to explore and generate ideas and concepts. Quantitative research is conducted with far larger numbers, enough to be able to predict how the total population would respond. The sample size needs to be sufficient in order to make statistically accurate observations about the population.

Question 29

Top Three Online Research Methodologies

Answer 29

* Surveys: Ideal for collecting large amounts of quantitative data, and some qualitative data. They are quick and easy to set up, and can run automatically. * Online focus groups: Ideal for engaging consumers and collecting qualitative data such as opinions, ideas and feelings about the brand. They require a larger time investment and a willing group of participants. • Online monitoring: Ideal for collecting qualitative data on brand sentiment, and can also provide some quantitative data around volume of interest in the brand. This data can be collected passively, and there are several tools that can automate this.

Question 30

Surveys

Answer 30

Questionnaires that contain a series of questions around a specific topic. Their purpose is to gather large volumes of quantitative data easily, though they can also collect some qualitative data.

Question 31

Types of survey questions

Answer 31

1. Open-ended Open-ended questions allow respondents to answer in their own words. This usually results in qualitative data. 2. Closed Closed questions give respondents specific responses from which to choose. These are typically multiple-choice questions with either one or multiple possible answers. This results in quantitative data. 3. Ranked or ordinal These types of questions ask respondents to rank items in order of preference or relevance. Respondents are given a numeric scale to indicate order. This results in quantitative data. 4. Matrix and rating These types of questions can be used to quantify qualitative data. Respondents are asked to rank behaviour or attitude.

Question 32

Focus Groups

Answer 32

Online focus groups involve respondents gathering online and reacting to a particular topic. Online focus groups are ideal for having frank, detailed conversations with people who have an interest in your brand. This means they result in primary, qualitative data. This information can then be used to create quantitative research questions. When setting up the group, try to include enough participants to keep the conversation alive, but not too many so that some get drowned out by others, eight to ten is a good range.

Question 33

Focus groups are used to get consumer views on:

Answer 33

* New products or marketing campaigns * Existing products and campaigns, and how they can be improved * Sentiment around the brand * Views on a brand’s new direction or visual style * Ideas for how the brand could improve its position or branding.

Question 34

Sentiment Analysis

Answer 34

Online tools allow a company to track mentions of itself, its staff, its products, its industry and its competitors or anything else that is relevant. This is called online monitoring, online listening, or data sentiment analysis.

Question 35

What are the four different types of searches you can perform to track relevant brand keywords?

Answer 35

1. Broad match – for example, Apple Computers. This is when any of or all words must be found in the mention. 2. Direct match – for example, “Apple Computers”. This is denoted by quotation marks and dictates that the tool should find mentions only where the phrase appears complete and in order in the content. 3. Inclusive match – for example, Apple +computers. This is denoted by a plus sign directly before a word or phrase. This will direct the tool to search for any mention that contains both Apple AND computers, although not necessarily in that order. 4. Exclusive match – for example, Apple –fruit. This is denoted by a minus sign directly before a word or phrase. This will instruct the tool to include only mentions that contain the first word or phrase but not when the second word is also in the same mention. ***Each modifies the specific type of data collected and aims to improve the quality and depth of the data you gather. It is also important to track common misspellings and typos, all related companies and all related websites. Tracking the names of people key to a company can highlight potential brand attacks, or can demonstrate new areas of outreach for a company.***

Question 36

Tools for data sentiment analysis

Answer 36

* Google Alerts: www.google.com/alerts. Google Alerts will send an email when the keyword is used in either a credible news item or a blog post. * Google News: news.google.com. Google News searches all news items for mentions of a keyword. • Google Patent Search: https://www.google.com/advanced_patent_search. Google Patent Search allows you to keep track of all filings related to an industry, and searches can be done to see if there are patent filings which might infringe on other patents. • Google Video Search: https://www.google.com/videohp?hl=En. Video Search relies on the data that have been added to describe a video, and will return results based on keyword matches.

Question 37

Other avenues for online research

Answer 37

1. Personal interviews 2. Observation/online ethnography 3. Online research communities 4. Listening labs 5. Conversion optimisation

Question 38

Conversion optimisation

Answer 38

Conversion optimisation aims to determine the factors of an advert, website or web page that can be improved in order to convert customers more effectively.

Question 39

How can response rates be improved?

Answer 39

By offering respondents incentives for participating in the research, such as a chance to win a grand prize, a discount or special offer for every respondent, or even the knowledge that they are improving a product or service that they care about. Designing the survey to assure respondents that a minimal time commitment is required and their privacy is assured can also help to increase responses.

Question 40

With no interviewer to explain questions, there is potential for...

Answer 40

greater respondent error. This is why survey design is so important, and why it is crucial to test and run pilots of surveys before going live.

Question 41

Respondent errors also arise when...

Answer 41

...respondents become too familiar with the survey process. The general industry standard is to limit respondents to being interviewed once every six months.

Question 42

Advantages and challenges to the online research process

Answer 42

Advantages: The Internet allows for research at a far lower cost; it can also more easily cross geographic boundaries and can speed up the research process. Challenges: You cannot control the environments in which information is being gathered. For an online sample, it’s important to focus on getting the correct number of people to make your study statistically viable. If your questions are not carefully drafted, confusing questions could lead to answers that are flawed or not relevant. Additionally, online incentives could lead to answers that are not truthful, meaning that the value of the data could be questionable. Certain target groups are not accessible via the Internet, and so it’s important that you carefully consider who you are trying to reach.