Market Research Firms in New York Key Terms

Brush up on key terms for Market Research Firms in New York
By Jason Wood Market research firms in New York have a large footprint in the consumer product industry.

Take the time to learn about a few of the terms and strategies that New York market research firms employ so that you'll be up to speed on their lingo if you hire them for your business. Here are a few of those terms along with some resources to help get you started.

Opportunity analysis

Opportunity analysis is a tool used by New York market research firms that asks consumers questions in order to ascertain the consumers' feeling on the value, brand, assumptions and any potential barriers in relation to that product.
Try:  Visit the website for Goodmind, a market research firm in New York, for a further discussion of opportunity analysis.

Communication research

Communication research, in terms of New York marketing research firms, relates to the aspect of studying the communication effort between the business in question and the consumer. This encompasses everything from seeing that an advertising campaign is working to keeping tabs on a company's website development and execution.
Try:  Visit the website for Brooks Rose Marketing Research for additional information on communication research.

Mystery shopper, mystery shopping

A mystery shopper is an employee of a market research firm who enters a store or business under the guise of being a normal customer. They interact with members of the business and then report their experience to the market research firm. Everything from the nature of the business employee, to knowledge about products, to ease of transactions are judged.
Try:  Visit the website for Informa Research Services, another New York market research firm, for additional information on an example of a mystery shopping program.

Sales effectiveness

Sales effectiveness refers to the analysis of a company's sales figures and process by a market research firm. The market research firm will study everything from the cost and marketing of the product, how the clients are served and if there are additional areas where sales or productivity can be increased.
Try:  CRMBuyer explains and discusses effective sales strategies.

Retail tracking

Retail tracking, in terms of New York market research firms, relates to the concept of tracking products from the warehouse through the point of sale. The point of sale has many avenues including retail stores, discount chains, catalogs and more. Learning where the consumer ultimately buys products will help a company tailor their operations to maximize sales.
Try:  Visit the website for NPD Group. A market research firm with an international presence, they have a sizable office in New York City. Visit the website for additional information on retail tracking.

Pre-testing

Pre-testing refers to the process of evaluating a marketing campaign before it is launched widely. Many times market research firms will "pre-test" ideas or concepts in relation to products in a smaller market or to a smaller audience to see if the concept is catching on with the general public or intended audience.
Try:  Check out the website for Ipsos ASI, another New York based market research firm, for more information on how pre-testing can be incorporated to market research.