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Glossary of Market Research Terms – B |
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Baby Boom: |
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The generation of Americans born soon after the World War II
are known as the baby boomer generation. The period
associated with the term is generally 1946 – 1964. This is
the generation that faced many hardships but survived and
thrived on their merit. Now the baby boomers are in their
late sixties and form the biggest population segment of the
US population. They witnessed the greatest growth in markets
through new launches, marketing strategies and advertising
techniques. They are also considered to be the wealthiest
segment of the population, having the highest residual
incomes. The children of baby boomers that lead to the peak
of births from 1977 to the present are called baby boomlet
generation.
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Back Checking: |
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For back checking the respondents are contacted again after
the data is collected. This is generally done when
techniques utilized do not involve much of human interaction
and technologies like Internet and telephone interviewing
tools are used. The respondents are asked some
authenticating questions about the study and the interviewer
so as to ascertain that the respondents themselves answered
the questions.
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Back Room: |
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This is a viewing or observing room adjacent to a
conference room where focus groups are conducted. Generally
this room is separated by the focus group room through a
one-way mirror. The researchers sit in the back room and
observe the respondents’ verbal and non-verbal language and
reactions in the whole process of gathering data.
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Back to Back Focus Groups: |
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In this methodology two focus groups are scheduled one
after the other using the same respondents.
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Baseline Market Segmentation Study: |
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Baseline Market Segmentation Study is the first
segmentation study conducted by an organization. This study
is the initial study for that segment and acts like a
control study, the results of which are compared to the
future studies.
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Basic Research: |
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Basic Research is generally a research study conducted to
gather knowledge about many issues. It can be targeted
towards many segments in order to understand them thoroughly
on many aspects. The objective of basic research is to
enhance the information base about a certain product or
service and not to tackle a challenging situation faced by
the organization.
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Before and After with a Control Group: |
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Generally all the research tests are performed with two
groups of respondents, one is the experimental groups and
the other is the control group. The experimental group is
subjected to different research variables, whereas the
control group is kept constant. Both the groups are measured
before and after the experiment. This is called pre and post
experiment measuring of respondents and also before and
after experiment measuring of the respondents.
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Behavioral Component of Attitude: |
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Behavioural Component of Attitude is the measure of a
consumer’s reaction towards a product or event. This
reaction can be both mental and physical and is always
accompanied by strong emotions both positive and negative.
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Benchmark: |
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Benchmark is the baseline, which can be any source that can
be used as a target to compare to other similar
developments. Benchmarks in market research are generally
referred to with projects or products and services of a
similar nature, which have the relevance to be treated as
standards to be compared with others that advent later.
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Benefit Segmentation: |
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Benefit Segmentation is the segmentation of the population
done on the basis upon the specific needs, desires and
expectations of the people rather than any other lifestyle
or demographic information.
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Bernoulli Response Variables: |
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This is a technique of collection of data wherein the
questions have answers requiring the choice of one out of
the two given possibilities. The answer choices could be
dependent upon the questions like having yes / no answers.
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Bias: |
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Bias is a prejudice induced in any statement or result
through sources like wording of a question, data entry,
interviewing technique, wrong selection of the research
sample and others. The induced bias causes the final result
to be misrepresented.
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Biased Sample: |
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A biased sample is a sample chosen which does not represent
the population in best interests. The research sample may
contain unequal proportions to the actual population or may
be misrepresentative in other areas like demographic and
ethnographic variables.
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Binomial Experiment: |
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A binomial experiment is a study with a fixed number of
independent trials. In a binomial experiment each trial has
exactly two outcomes. The probability of each outcome in a
binomial experiment remains the same for each trial. These
studies independently draw from the population to create a
sequence of trials.
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Blind Study: |
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Blind studies are those where the respondents do not have
any knowledge about the product or service that is under
study.
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Brand: |
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The brand is described as the physical attributes of a
product or service that invoke certain beliefs and
expectations in the minds of the end users. Brand is mostly
a combination of the emotional feelings attached with the
product or service, which is associated with a certain
recall value generated with the logo, name and even colours
associated with the product or service.
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Brand Associations: |
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Brand associations are the emotional attributes, which are
unearthed during the process of qualitative research.
Sometimes such studies expose the desires, expectations and
usages of a product, which are unique in many ways and even
the makers of the products have not really realized them.
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Brand Equity: |
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Brand equity is the consumer goodwill that a company
enjoys. It also refers to the levels of awareness of a
company among the consumers for its brands, logos and
products and services.
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Brand Extension: |
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The development of new products and services to be marketed
under the umbrella of an existing brand name is called brand
extension.
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Brand Impact: |
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Brand impact is one of the many techniques utilized to
measure the effectiveness of advertising of a certain
product, service or event.
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Brand Switching: |
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Brand switching is a concept of buyers market, wherein the
buyers have multiple choices of brands to choose from. They
may buy one brand of a certain product or service one time
and then switch to another the next time of purchase. This
is because the choices available to the buyers are many and
not restricted to just a few.
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Brand Value: |
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Brand Value refers to the numerical value that would be
given to a brand if it is represented on the balance sheet
of the company.
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Bricks and Mortar: |
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This is an expression used for the companies having a
physical location, geographically speaking. They have
traditionally set premises and need the consumers to go to
them to access their products and services. In contrast the
companies that have operations on the Internet also are
called clicks and mortar companies. The companies that
operate only on the Internet are called pure play companies.
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Briefing: |
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Briefing is the discussion that happens between the buyers
and providers of a certain service. In market research
scenario the briefing refers to the discussion in which the
client gives the research targets and requirements to the
researchers and the researchers in turn give an outline of
the procedures and methodologies to be utilized.
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Bulletin Board Groups: |
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In qualitative research conducted through the Internet
bulletin boards are used for communication between the
participants and the moderator. These are known as bulletin
board groups. The questions and tasks are posted by the
moderator and the members of the bulletin board groups
access the website and respond accordingly to the postings.
Many companies have built softwares that can be used to
conduct bulletin board groups online.
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Business Intelligence: |
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Business Intelligence is the information that is taken into
consideration when certain solutions are required for
company planning, deciding strategies and other decision
making areas. Enhancing business intelligence utilizes the
data analytic tools and data mining solutions.
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Business to Business (B2B): |
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Business to Business activities refer to the businesses that
aim at selling their products and services to other
businesses instead of reaching out to their end users or
consumers. Market research activities targeted towards the
B2B segments are specially designed so that they meet their
specific requirements.
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Business to Consumer (B2C): |
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Business to Consumer activities refer to the businesses
that aim at selling their products and services to their end
users or consumers instead of reaching out to other
businesses. Market research activities targeted towards the
B2C segments are specially designed so that they meet their
specific requirements.
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Buying Behavior: |
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Buying behaviour is the process that buyers undergo before
they take a decision about actually buying a product or
service. This is mostly an emotional process and the
potential buyer is highly influential when he is just about
to take a decision. Buying behaviour comes into influences
and can be motivated by a variety of external factors aimed
at altering his decision. Aggressive marketing activity
during this time from competitors generally is seen to have
effect on the buying pattern.
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Buying Intent: |
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Buying intent actually refers to the intentions of a buyer
for taking a decision about buying a product or service. The
technique used to measure the level of keenness of a person
for buying a particular product is called the measurement of
buying intent.
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