Definitions for Marketing Research and Internet Marketing (SEO)
Forward Analytics maintains a leading edge position in the research community by interweaving sophisticated conceptual and creative skills with superb data collection and the most advanced analytic techniques. We focus on building quality relationships and delivering state-of-the art qualitative and quantitative research. The glossary below will familiarize you with our methodologies. Please contact us if you do not see a term you are unsure of, or have any other questions regarding our glossary or services:
Traditional Marketing Research DefinitionsCHAID
Definition: Chi-Squared Automatic Interaction Detector is a statistical technique that produces classifications and decision-making rules for a specific population and performance measures of interest. CHAID segments the population based
Definition: Cluster Analysis is a multivariate analysis technique that seeks to organize information about variables so that relatively homogeneous groups, or "clusters," can be formed. The clusters formed with this family of methods should be highly internally homogenous and highly externally heterogeneous (members are not like members of other clusters.)
Definition: Method of determining the ideal product configurations by analyzing the relationship of underlying product characteristics to respondents' preferences for differently configured products. Also used as a method of determining the ideal configuration for a new product or service.
Customer Value Analysis
Definition: Customer Value Analysis (CVA) is a measure of the satisfaction of a company's customers relative to that of their competitors' customers. Customer Value Analysis is a powerful business tool as it directly measures the drivers of purchasing behavior and changes in CVA drive changes in market share. The higher the CVA score the higher the relative market share.
Definition: A statistical approach that can be used to analyze interrelationships among a large number of variables and to explain these variables in terms of their common underlying dimensions (factors). The statistical approach involving finding a way of condensing the information contained in a number of original variables into a smaller set of dimensions (factors) with a minimum loss of information.
Focus Groups and One-on-one Interviews
Definition: Qualitative research including focus groups and one-on-one interviewing to better understand decision making criteria, pricing sensitivities, motivators/inhibitors and gauge reaction to concept/brand imagery, product features and advertising/promotions materials.
IMPLAN (Minnesota Input-Output / I-O Model)
Definition: IMPLAN is a comprehensive regional input-output model used to analyze regional industries and industry clusters. An input-output (I-O) model provides a unique and valuable tool for examining regional industrial structures and exploring existing and potential regional industry linkages. IMPLAN software accesses data collected from the U.S. Department of Commerce, U.S Bureau of Labor Statistics, and other state government agencies covering 528 Standard Industrial Categories (SIC). In conclusion, I-O models can identify industries that are regionally important either because of their size (driver or exporting industries) or because they are closely related in economically important factors (cluster industries).
Secondary Data Research
Definition: Researching information using already published data. Information pertaining to a specific problem is gathered through various sources, such as: government publications, Internet, databases, media publications, and other published sources.
Definition: Survey research with various customer and non-customer groups using quantitative data collection methods including Internet, telephone, intercept and mail to understand attitudes, perceptions, needs, habits and behavior resulting in strategies, tactics and messages aimed at strengthening demand and broadening appeal.
Internet Marketing and Search Engine Definitions:Affiliate Marketing
Definition: Affiliate marketing, sometimes referred to as Cost-per-Action or Acquisition (CPA) is another proven Internet marketing method. CPA is beneficial for the principal reason that no dollars are paid until AFTER a sale or conversion is completed. Affiliate marketing helps organizations to leverage their brands and extend their sales network to include hundreds or thousands of existing partnerships. Selling in this manner is opportune for two reasons- it is reduces cash liabilities, and it is digitally automated which helps increase control while decreasing management oversight costs.
Online Lead Generation
Definition: Internet lead generation refers to the act of capturing some defined user behavior that signals the start of your organizations sales or customer acquisition process. An Online lead generation campaign should be aligned with your organizations sales and marketing plan and may include affiliate marketing, PPC advertising, web optimization/SEO solutions, in addition to newsletter publishing, press releases, forum involvement, and site sponsorship.
Definition: Newsletters are the most cost effective way to maintain communication with your client base. Through the publication of a trade letter, an organization can notify constituents of new products, leadership goals, market trends, or even case studies. Online publications of this nature can be published weekly, monthly, or as needed basis. There are many more reasons why newsletters are a smart business tool including; the information builds an organization's intellectual value, it provides added content in the form of an archive which is crucial for higher search engine placement, and it builds a legal database of customer emails.
Definition: Online surveys are an economical and efficient method of gathering data from both current clients as well as potential buyers. Our surveys support branching to allow the answer of one question to determine the nature of the following question. All surveys are customized to meet the particular needs of our clients. All data is available online and can be exported to SPSS or Excel format. All surveys are password protected and hosted on secure servers with daily back-up. Our online surveys can be presented en masse through newsletters and email, or on a one-by-one basis.
Definition: Paid Inclusion describes the model used by several of the key search engines. These engines require a "door charge" in order to submit your pages. The fees are non-refundable and do not ensure that your site will be accepted. This differs from pay-per-click keyword advertising where you actually keep a balance which is debited on a per click basis. Paid inclusion is an annual fee ranging from $15 to $40 per page. Because the paid inclusion engines make-up over 10% the tier one traffic, it is a mandatory expense in most cases. In order to submit you site to engines such as Inktomi, Teoma (Ask Jeeves), Lycos, and Altavista, plan for at least a $1000 charge.
Definition: Pay-per-click advertising as it applies to search engine marketing is a service offered by search engines to allow marketers' ads to appear when a specific word or phrase is entered. PPC management, and subsequent bid management refers to the act of researching proper keywords, uploading keyword terms, writing specific copy for each term, selecting landing pages for each term, setting the bids (price the client is willing to pay for one click), monitoring the bids for anomalies or fraud, and finally measuring conversions at the host website to determine ROI. After a benchmark is determined, PPC optimization is the process required to compare and measure effectiveness as well as adding keywords that offer opportunity and removing keywords that are overpriced or ineffective.
Search Engine Optimization (SEO)
Definition: Search engine optimization or web optimization is the is a act of increasing a sites rank and hence visibility within search results for a given set of keywords or phrases. Capitalizing on the free search engine rankings, often called "natural rankings" is currently the highest-yield method of Internet marketing available. The process has four phases. The first part of an SEO plan requires a thorough analysis of a website's content, design, goals, competitors, and partners. The second phase is a discovery and consultative period where the SEO consultant makes recommendations regarding specific keywords and their placement. Third is the execution phase where all a client's pages are submitted to the various search engines by hand. Last is the maintenance and linking phase. Because search engines count the number of links that point to a site like "votes of confidence," it is absolutely necessary to continuously develop new partners whether from press releases, partners, or industry portals.
We hope our glossary of marketing research terms and Internet marketing definitions has give you a better perspective of the types of analytic skills and tools we employ. If you have any questions or would like to discuss how our services can help your organization achieve a competitive advantage through better business intelligence please contact us at 412-207-2114
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