In this glossary, the most important market research terms from this database and the textbooks are simply explained
Facial coding involves analyzing facial expressions to capture emotional reactions and preferences. Through the use of cameras and specialized software, facial expressions, facial expressions and emotions can be captured during the consumption of content, ads or products. This enables an assessment of consumers’ implicit emotional responses and helps evaluate the effectiveness of advertising and marketing materials.
Factor analysis allows several characteristics to be combined into factors that are independent of each other and is primarily used for data reduction. It answers questions such as: Which variables correlate most strongly with which factors? Which variables can be combined into a common construct? How much variance is explained by the identified factors?
Feedback tools are Computer Assisted Visual Interviews (CAVI) that capture immediate feedback from customers at the POS. Most commonly, customers can rate their satisfaction with a product or service by pressing a smileys on a touch screen, or, after scanning a QR code, on their mobile phone. This data can be monitored and analysed in real time by staff to improve the customer experience. In addition to this function, feedback tools also have a customer loyalty effect.
Focus groups are a qualitative research method in which a group of people come together to discuss their opinions, attitudes, experiences, and perceptions about a particular topic. These groups are usually led by a moderator who guides the discussion and ensures that all participants have the opportunity to contribute their opinions. 1. Through focus groups, various questions can be answered, such as: 2. Opinions and attitudes about a particular product, brand or service. 3. Feedback on new product concepts or ideas. 4. Understanding the needs and wants of the target audience. 5. Responses to marketing campaigns or promotional materials. 6. Identification of problems or opportunities for improvement. It is important to note that focus groups do not provide representative data because the number of participants is limited. Therefore, the results should not be generalized. Instead, they provide qualitative insights and often serve as a starting point for further research or as a complement to quantitative methods.