Market Research Glossary
Comprehensive dictionary of market research terms, methodologies, and statistical concepts to enhance your research knowledge
All Terms(20 terms)
Click on any term to learn more about its definition, usage, and related concepts
A/B Testing
MethodologyA research method that compares two versions of something to determine which performs better. Also known as split testing.
Example:
Testing two different website layouts to see which generates more conversions.
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Alpha Level
StatisticsThe probability of rejecting the null hypothesis when it is actually true (Type I error). Commonly set at 0.05 or 5%.
Example:
An alpha level of 0.05 means there is a 5% chance of concluding there is a difference when there actually isn't.
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Bias
MethodologySystematic error in research that affects the validity of results. Can occur in sampling, data collection, or analysis.
Example:
Selection bias occurs when certain groups are over or underrepresented in the sample.
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Confidence Interval
StatisticsA range of values that is likely to contain the true population parameter with a specified level of confidence.
Example:
A 95% confidence interval of 45-55% means we are 95% confident the true value lies between 45% and 55%.
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Convenience Sampling
SamplingA non-probability sampling method where participants are selected based on their availability and willingness to participate.
Example:
Surveying people at a shopping mall or using social media followers as participants.
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Correlation
StatisticsA statistical measure that describes the extent to which two variables change together. Ranges from -1 to +1.
Example:
A correlation of 0.8 between customer satisfaction and loyalty indicates a strong positive relationship.
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Focus Group
MethodologyA qualitative research method involving a small group of people discussing a topic under the guidance of a moderator.
Example:
A group of 8-12 consumers discussing their experiences with a new product.
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Hypothesis
MethodologyA testable prediction about the relationship between variables. Forms the basis for research design and analysis.
Example:
H1: Customers who receive personalized recommendations will have higher purchase rates.
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In-depth Interview
MethodologyA qualitative research method involving one-on-one conversations to explore topics in detail.
Example:
A 60-minute interview with a customer about their decision-making process.
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Margin of Error
StatisticsThe range within which the true population value is likely to fall, given the sample data.
Example:
A survey with a margin of error of ±3% means the true value is within 3 percentage points of the reported value.
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Mixed Methods
MethodologyResearch approach that combines qualitative and quantitative methods to provide comprehensive insights.
Example:
Using both surveys (quantitative) and interviews (qualitative) to study customer satisfaction.
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P-value
StatisticsThe probability of obtaining results as extreme as the observed results, assuming the null hypothesis is true.
Example:
A p-value of 0.03 means there is a 3% chance of getting these results if the null hypothesis is true.
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Population
SamplingThe entire group of individuals or objects that a researcher wants to study.
Example:
All customers who purchased a product in the last year.
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Qualitative Research
MethodologyResearch method that explores non-numerical data to understand meanings, experiences, and perspectives.
Example:
Interviews, focus groups, and observations to understand customer motivations.
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Quantitative Research
MethodologyResearch method that collects and analyzes numerical data to test hypotheses and make predictions.
Example:
Surveys, experiments, and statistical analysis of large datasets.
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Random Sampling
SamplingA probability sampling method where every member of the population has an equal chance of being selected.
Example:
Using a random number generator to select participants from a customer database.
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Reliability
MethodologyThe consistency of a measure or research instrument. Indicates whether results can be replicated.
Example:
A reliable survey produces similar results when administered multiple times to the same group.
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Sample Size
SamplingThe number of participants or observations included in a research study.
Example:
A survey with 1,000 respondents has a sample size of 1,000.
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Statistical Significance
StatisticsA result that is unlikely to have occurred by chance alone, typically indicated by a p-value below the alpha level.
Example:
A p-value of 0.02 indicates statistical significance at the 0.05 level.
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Validity
MethodologyThe extent to which a research instrument measures what it is intended to measure.
Example:
A customer satisfaction survey is valid if it actually measures satisfaction rather than other constructs.
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Quick Reference Guide
Essential terms organized by category for quick access
Methodology
10 terms
Statistics
6 terms
Sampling
4 terms
Analysis
0 terms
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