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Archive for the ‘Market Opinions’ Category

Summer’s here and the time is right: Central New Yorkers are ready to face the music, RMS ViewPoint Poll Shows. 

According to a recent poll of Central New Yorkers conducted by Research & Marketing Strategies, Inc. (RMS) ViewPoint, 83 percent of individuals plan to go to a concert this summer. Thirty percent of Central New York respondents are planning on attending at least two concerts this summer, 21 percent are preparing to go to three concerts, and nine percent are planning on attending eight or more concerts this year. The average respondent plans to spend $76 to $100 per concert, and will travel 21 to 50 miles for a concert this year. When it came to choosing the concert respondents were most excited about, the Dave Matthews Band concert at the Lakeview Amphitheater was the most anticipated by Central New Yorkers, followed by Keith Urban, Zac Brown Band, Journey and Hall & Oates.

“Everybody loves music, and that is especially true in Central New York,” said Zachary Shaw, RMS ViewPoint Panel Associate. “Not only are there are so many great music venues in the area, but there is such a wide variety of music that you’re able to experience as well.” Respondents surveyed were asked about favorite music genres, listening habits, preferences, venues, and concert spending behaviors. “Because CNY is a top test market in the country, media companies continue to test new programming and music services in this area,” said Sandy Baker, Senior Director of Corporate Strategy.

With the summer concert season officially underway, CNY residents spend lots of time prepping for upcoming shows. Thirty-nine percent listen to ten or more hours of music per week. Almost half (48 percent) listen to music the most while in their car, while 21 percent listen at home and at work. And it’s no secret that Central New Yorkers love their local radio: 62 percent typically listen to music through traditional AM/FM radio. Forty percent typically purchase their music and another 40 percent stream through Pandora. Twenty-seven percent listen to music with satellite radio, 23 percent listen through YouTube and 14 percent stream with Spotify.

When it comes to a favorite music genre, classic rock stole the show with 76 percent. The other top categories followed with rock at 67 percent, and close behind was pop at 64 percent, country at 48 percent, R&B/soul at 36 percent, and hip hop and rap at 32 percent. When asked if they could see anyone in concert, the top response was Adele. Beyoncé came in second, followed by “The Boss” Bruce Springsteen, Paul McCartney and Garth Brooks.

Central New York offers many live music venues, each with unique qualities that tend to draw locals depending upon their music preferences. According to respondents, the favorite local concert venue is the Chevy Court Pavilion at the Fairgrounds. The Lakeview Amphitheater came in second, followed by Turning Stone Resort and Casino as third favorite venue.

A detailed infographic depicting the full survey results is included below. If you would like to participate in upcoming RMS ViewPoint polls and surveys, please visit RMSViewPoint.com to sign up.

Music survey

The RMS ViewPoint poll was conducted from May 25, 2016 to June 5, 2016. A total of 501 surveys were completed. Respondents consisted of RMS ViewPoint Research Panel members, as well as the general community. All respondents resided within the 6-county CNY area (Cayuga, Cortland, Madison, Oneida, Onondaga, Oswego). For more information on RMS ViewPoint, visit RMSViewPoint.com.

About RMS

Research & Marketing Strategies (RMS) is a full service marketing and market research firm located in Baldwinsville, NY. RMS provides an array of research methodologies that result in actionable analytics and recommendations for the client to enhance decision making. RMS is also home to QualiSight, a premier focus group and interview research facility, and RMS ViewPoint, a leading consumer research panel in Central New York. Visit our website at RMSresults.com. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.

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Central New York has long been revered as a great market for product and concept testing. You may have caught our previous blog post about the topic, where we discussed the market characteristics that make the city of Syracuse an ideal test market. We noted how Syracuse has a similar demographic composition to the United States population—the geographic isolation provides an advantage in terms of advertising exposure, and media advertising is more affordable here than in larger cities. The geographic isolation has not changed and advertising is still more affordable than in larger metropolises. However, being the curious researchers that we are, we wondered if the data still supports the area being a good test market option in terms of demographic composition. That curiosity led us to QuickFacts1, a data repository provided by the United States Census Bureau. We were pleased to find that a wider net than just Syracuse (Onondaga County) reflects the United States population as a whole. Below you will find several graphs illustrating the striking similarities across several US Census statistics. Essentially, in terms of gender, race, educational attainment, median household income, and owner occupied housing unit rate, Onondaga County is highly representative of the United States population.

gender

  • The gender breakdown for Onondaga County is within one percentage point of the US population for both males and females.

race

  • Onondaga County closely reflects the US population race demographic, with the largest disparity being the Hispanic or Latino population.

education

  • The highest level of education achieved is also very similar among Onondaga County and the United States as a whole, with a mere four percentage point difference among the two for each education level.

income

  • The median household income of Onondaga County residents is remarkably comparable to that of the United States population, within $1,000!

housing

  • The percentage of Onondaga County residents who live in a home they own is nearly identical to the United States population.

What does all this mean and why is it important? When developing a product, creating a concept, or introducing a new marketing campaign, it is critical to understand the behavior of the target audience. Implementing a market research project in a test market will allow you to determine the viability of the product, concept, or campaign on a wider scale. It will also provide vital feedback regarding your marketing strategy, customer response, and distribution channels. The most crucial component of choosing a test market is ensuring that it matches the target market in terms of demographics. The demographic similarities to the US population make Onondaga County a great test market for companies interested in rolling out products, concepts, or campaigns locally or nationally.

If you’re interested in learning more about utilizing Onondaga County as a test market, contact our Senior Director of Business Development & Corporate Strategy, Sandy Baker, at SandyB@RMSresults.com or by calling 315-635-9802.

1QuickFacts data are derived from: Population Estimates, American Community Survey, Census of Population and Housing, Current Population Survey, Small Area Health Insurance Estimates, Small Area Income and Poverty Estimates, State and County Housing Unit Estimates, County Business Patterns, Nonemployer Statistics, Economic Census, Survey of Business Owners, Building Permits.

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The terms “market research” and “marketing research” are so commonly used interchangeably that it often leaves people wondering about the difference between the two. Is there really a difference? Absolutely. Qualtrics summed it up perfectly on their blog: “market research is a subset of marketing research.” While marketing in general often revolves around products, pricing, places, and promotions; marketing research can encompass all four measures, but market research tends to focus on “places.” Market researchers are often tasked with identifying market or segment demand of something – be it a product, promotion, or other consumer-centric commodity. This is typically the initial phase of the research, which will inform the marketing research that is implemented during the later phase of a project.

Put even more simply, market research typically includes research activities relating to markets, while marketing research involves research tasks related to marketing. Below are some examples of market research projects and marketing research projects.

To understand the flow of market research to marketing research, consider this example. Client A is interested in conducting a market demand survey (market research) to determine whether the target audience of the commodity demonstrates enough interest to move forward to the product production phase. An online survey of the target audience reveals overwhelming interest in the commodity, so Client A moves forward with production. Several months later Client A returns, and wants to test several versions of the advertising that was developed for the commodity (marketing research). Focus groups comprised of individuals in the target market suggest that the current advertising may not be appropriate for the audience, so Client A goes back to the drawing board. A month later, Client A returns with a refined advertising portfolio, and an online survey suggests that the creative is effective in engaging the target market. Success! Clearly, this is a “perfect world” example, where all clients participate in both market research and marketing research as part of their strategy, but it provides a great example of the theoretical line of action between the two types of research.

Being the inquisitive type, I was not thinking solely about what is “right” in terms of terminology use for the two types of research, but what is most popular. This led me to stumble on a blog post that noted the difference in keyword popularity on Google for “market research” and “marketing research.” The blog post is somewhat outdated in today’s digital age, so I went to Google to mirror the search. Although market research is deemed a subset of marketing research, it appears that the former is used much more frequently. The term “market research” produced about 62,400,000 results, while “marketing research” resulted in 11,000,000. Logically, this could mean many things. It could be a signal that perhaps organizations are implementing market research but not marketing research (either because they did not proceed with the product/concept, or they simply did not conduct marketing research). Or it could mean that individuals are using the terms interchangeably. As a researcher, I’m rooting for the latter!

Research & Marketing Strategies (RMS) is a market research firm located in Syracuse, NY. If you are interested in learning more about our market research services, please contact the Senior Director of Business Development & Corporate Strategy, Sandy Baker at SandyB@RMSresults.com or by calling 1-866-567-5422.

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From October 20th through 22nd of 2014, I attended The Market Research Event in (not so sunny) Boca Raton, FL. The conference was a gathering of over 1,300 attendees working in market research, 150+ speakers, and over 100 exhibitors. The conference was structured to lead off with two keynote speakers in the morning followed by six separate tracks of mini-sessions throughout the day, followed by a keynote speaker to conclude each day. The six tracks of interest focused on: (1) brand insight and engagement, (2) strategic leadership, (3) insight driven innovation, (4) new technologies and methodologies, (5) insight strategy, and (6) big data and predictive analytics.

Here is my Prezi recap that I presented to the RMS staff this morning for our November session:

Market Research Trends 2015

Click here to view the Prezi

The Research Bunker is a market research blog from Research & Marketing Strategies (RMS). If you are interested in learning more about RMS or have any questions about The Market Research Event 2014 contact George Kuhn at georgek@rmsresults.com or by calling 1-866-567-5422.

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As I approached the summer before my senior year at Oswego State, I received an opportunity to intern at Research & Marketing Strategies, Inc. (RMS). At Oswego State I am working towards a degree in public relations with a minor in business administration. As the ViewPoint panel coordinator at RMS, I am able to blend my passions for public relations and marketing.

Common reactions to starting a career in market research.

Common reactions to starting a career in market research.

Here are 5 things I’ve learned about a career in market research in 3 short months:

  • (1) The importance of networking – Market research is a powerful industry because it provides businesses with the intelligence needed to adapt to the ever-changing consumer. However, some professionals are weary to conduct market research due to cost, fear of negative results, length of time to complete, etc. To overcome these barriers, RMS works hard to build a base of educational materials for clients through social networking and having a presence at local and industry events. Strong networking skills are invaluable in this industry. There is always a methodology that will work for a business to overcome any barrier and market research can be done well, fast, and inexpensively.
  • (2) How to code open-ended questions – I have learned how to code open-ended questions in college, but that experience fails in comparison to coding open-ended questions for a full scale market research study. Market research professionals read every survey response, and create categories suitable for all responses. Want to learn more about coding? Click here. The researcher will then determine themes and recommendations based on the responses. So believe it or not, your well-thought out responses that you answer on an online or mobile survey are actually read by a real human being! (Me, in many cases at RMS!)
  • (3) How to blog – Another valuable skill in this industry is blogging.  It’s an effective tool used to fore-show potential clients what services the firm is capable of providing. We recommend using images, tags, hyperlinks, and a searchable title in order to blog effectively. Creating fresh content and SEO-friendly material for market research is a goal of mine here at RMS.
  • (4) There is room for creativity – On the surface, the market research industry seems very structured, data-oriented, and rigid. However this is not the case, creativity can be used during all steps of the research process. Customizing surveys, creating word clouds from coded responses, and creating PowerPoint presentation templates for reports are examples of creative outlets for market researchers.
  • (5) Quadruple check – It’s easy to overlook confusing language or mistakes when you have been working on a document for a long time. When checking a document, ensure that you look at the bigger picture. For example, after creating a questionnaire, envision how a respondent would comprehend the question (without having a background in market research). Additionally, have a coworker in a different department review the questionnaire. They are more likely to notice mistakes that you may unknowingly repeat.

The ViewPoint panel coordinator position is perfect for me because it marries my passion for public relations and marketing. It has been great to apply what I have learned at Oswego State while learning additional skills that can’t be learned in the classroom. Research & Marketing Strategies (RMS) is a market research firm located in Syracuse, NY. If you are interested in learning more about RMS, contact our Director of Business Development Sandy Baker at SandyB@RMSresults.com or by calling 1-866-567-5422.

 

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I’m always thinking about market research, even when I’m on vacation. During my most recent vacation, I wound up thinking about it a lot. Last week, my family and I visited the Walt Disney World Resort in Orlando, Florida.  During our stay, I noticed that the Disney Research team had a very strong contingent of intercept survey interviewers out in all of the various parks as well as in the Downtown Disney shopping area. My wife and I were each approached by interviewers several times and there were perhaps half a dozen occasions when I passed by interviewers surveying other people.

Cinderella's Castle

Disney conducting intercept surveys at their parks did not surprise me, but the sheer volume of activity naturally caught my attention. And of course, I jumped at the opportunity to participate in the research because I was curious to see how a huge, global organization approached something that is a regular component of my job at RMS. The experience both reinforced things I already knew about intercept surveys and, in a few cases, gave me some new things to consider.

Here are a few of my takeaways, in no particular order of importance:

  • The Disney interviewers are good — very good. Last month, fellow RMS Bunker Blog contributor Chris Coville wrote a post that offered 7 Tips for Conducting Intercept Surveys. His tips were that interviewers should be friendly, dress the part, identify themselves, approach the respondent, position themselves in multiple locations, state their purpose, and be honest.  The Disney research staff that I observed and interacted with did all of those things extremely well, especially the parts about being friendly and engaging in their approach. I would expect that from Disney, but at the same time, I appreciate how challenging it is for interviewers to keep that up in 90+ degree Florida heat and talking to people who are surrounded by distractions. It just served as a reminder of something I learned a long time ago in the research business – survey interviewers are not a commodity and having good ones makes all the difference in data collection.
  • Disney’s obvious large-scale commitment to intercept surveying hints at the growing trend toward the use of quick and inexpensive “directional” research approaches, even by massive corporations. While it has been widely used for a long time, intercept surveying has always been looked down upon somewhat by research traditionalists due to that fact that it does not employ true random sampling and therefore does not have the statistical reliability associated with it, say, traditional phone surveys back in the era when almost everyone in the U.S. had landlines. For a variety of reasons, market research clients have begun to care less about considerations like statistical reliability and more about using methodologies that can give them “fast and cheap” results. Intercept surveying fits that description to a tee, especially when your organization has ready access to huge crowds every single day.
  • I was somewhat surprised to find that I did not disqualify from the survey by virtue of being a market research analyst. Working in market research (along with being employed in advertising, public relations, marketing or an industry related to the research sponsor) is oftentimes an immediate disqualifier in survey research. Not so with the Disney surveys. I even made it a point to warn the first interviewer who approached me that I might not qualify on those grounds, but it didn’t matter to them. At RMS, we routinely disqualify market researchers from our studies, although on a number of occasions we have discussed amongst ourselves if it really matters for some sorts of studies. For example, does the fact that someone is well-versed in the techniques of survey research mean that they might answer a survey about their experience with an offering differently than any other consumer? Frankly, I’m not sure. But this experience has re-opened the debate in my mind.
  • I was also somewhat surprised to learn that there was no incentive or sweepstakes offer of any kind associated with the surveys my wife and I participated in. That wasn’t surprising so much with the in-person intercepts since those were brief, but there were follow-up online surveys afterward that were fairly lengthy.  If a client of RMS proposed to do a survey of comparable length, we probably would recommend a sweepstakes offer to encourage participation. One can only assume that Disney finds its completion rates satisfactory without such incentives. I suspect that has a lot to do with Disney’s extraordinary levels of brand equity and the generally high levels of felt involvement among many of its customers. That is to say, many people will probably do a survey with no incentive as a favor to Mickey but might need a little bit more of an enticement for a research sponsor they view as less “magical.”

All-in-all, seeing the Disney researchers in action was an enlightening experience. It’s always good to see how other firms approach various research challenges.  And anyone who works in marketing would be foolish to not take a look at how a marketing powerhouse like Disney does things. The only downside is that, these observations and this blog post notwithstanding, I still doubt that I’ll be able to get away with writing my vacation off as a business trip.

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Mark Dengler, president of Research & Marketing Strategies, Inc. (RMS), prepared this article. RMS is a full service marketing and market research firm located in Syracuse, New York.

Far too often in today’s business environment, companies conduct marketing activities that are not effective and do not provide the expected return on investment (ROI). Management is not impressed and there is a general perception that these marketing activities do not work. In reality, the problem may be that the company has not properly identified its market segments and may be using a marketing approach that does not target its “true customer” market.

marketing research firm syracuse ny

Every company must conduct marketing to promote its product(s) and service(s). Marketing is geared to drive business strategy. Therefore, it is critical that market research is done to identify the appropriate customer market segment(s); to understand the targeted market needs and proper approach(es) to that market to establish clear, measurable marketing position objectives. Unfortunately, this critical work is often not fully completed. CEOs are understandably growing impatient with their existing marketing efforts. They are frustrated at being unable to see what their marketing dollar investment is achieving. Cost and timing issues consistently surface as the key barriers to conducting appropriate market research. However, many companies learn after the fact that it would have been well worth their time and financial resources to conduct market research in advance of launching unsuccessful marketing activities.

Market research can help companies provide focus in their marketing activities. In particular, market research can identify target market segments that are most suited to a company’s product(s) and/or service(s). Once these proper market segments have been identified, companies can design measurable, specific tactics and initiatives directed at these potential customers. No longer is a “cookie cutter” marketing strategy acceptable. When asked the question, “Who are you trying to sell to?,” an answer that implies “everyone” is not acceptable. Companies need to know who their most likely market-segmented customers are and then conduct specific marketing efforts to build Awareness, Interest, Desire, and Action (AIDA) among them. Any general marketing activities need to be augmented with specific strategies that are proven to be effective among the target customer segments. For example, you might continue to build brand awareness through a public relations campaign, but then develop specific marketing activities around potential customers most likely to be interested in one of your specific products and/or services.

Market research can involve both “primary” and “secondary” data sources. Primary market research is the most expensive since it requires going directly to the customer for data input. It can be done through both “qualitative” and “quantitative” approaches. A qualitative approach is one that obtains customer opinions and perspectives that do not necessarily have a high degree of statistical reliability. An example is a focus group or executive interview. Quantitative primary market research offers a high degree of statistical reliability and involves a sampling of a customer segment. Many quantitative studies are done using paper, telephone or electronic survey instruments. Primary market research is often the most preferred since it reflects the actual feedback of the existing or targeted customer segment.

Market research using secondary data involves the analysis and interpretation of data that has already been obtained from another source (e.g. U.S. Census, NYS Department of Labor). It is less expensive, but does not allow for much flexibility in analysis or applicability to a company’s specific questions.

Both primary and secondary market research is valuable to companies. Companies will face increasing challenges in trying to preserve their margins and hit company profit targets. Marketing inefficiency and ineffectiveness only increases the challenges and frustrations. Companies should look to conduct regular market research to better understand their customers and provide focus for their efforts.

Are you interested in learning more about market research or Research & Marketing Strategies (RMS)? Contact our Business Development Director Sandy Baker at SandyB@RMSresults.com or by calling 1-866-567-5422.

 

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This blog post was written by our guest blogger Mark Dengler, President of Research & Marketing Strategies (RMS).

Market Research – You want to do it, but are scared off by the price. So here you are, considering do-it-yourself (DIY) research. Let me caution you. While DIY may be great for home or garden projects, it is not a good solution for quality studies to assist in making informed business decisions. The old saying, “you get what you pay for,” typically holds true.

DIY Market Research

Conducting market research is a science. It requires a well thought out methodology, tested and effective tools, and statistical analysis. It is not something that can simply be incorporated in-house for execution. Most notably, the research is designed to assist with decision-making. The findings have importance and require accuracy. Furthermore, in-house corporate initiatives often build-in significant bias (unknowingly) that have a major impact on the findings. As a result, decisions may be made with incorrect information or the research study findings are excluded from the final decision-making for fear they are not comprehensive. Either way, the organization loses. What originally began as a means to save money has actually cost money while providing little or no value. It may even force you to do a 2nd round of market research with an outside vendor if your in-house attempt fails.

A recent study on DIY research revealed that DIY research projects have lower scores for data quality and for analytical analysis when compared to scores from professional research firms (according to an article in Quirks – August 2011). These findings were obtained from research buyers/users.

Here are 5 questions you should ask before conducting your market research study in-house. At the end of the day, it is best to keep market research work with the professionals where value-for-the money can be assured and findings can truly assist with effective decision-making. If you are interested in conducting a market research study with a professional firm, contact our Business Development Director at RMS, Sandy Baker at SandyB@RMSresults.com or by calling 1-866-567-5422.

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This blog post was written by our guest blogger Mark Dengler, President of Research & Marketing Strategies (RMS). It was featured in the April 2014 edition of the RMS Newsletter.

I was recently asked my thoughts about the burgeoning survey industry in today’s marketplace. My response was, “Too many? That depends.” The perception of excess surveying depends on the potential responder. Individuals, for example, who belong to research panels look forward to receiving surveys because they are rewarded for their efforts.

Market Research Firm Syracuse NY

The down-side of being over-surveyed.

It is true there is a proliferation of surveys today but that is due in part to a strong corporate desire to make empirically based decisions using customer input. Businesses today are genuinely seeking feedback from consumers about their products and services.

Another aspect driving the large volume of surveys is the significant drop in the marginal cost of data collection (administrating surveys). With most Americans using email and mobile devices, survey administration is now conducted online, making the cost of receiving critical consumer feedback minimal.

I am not as much concerned about the amount of surveys, rather that the survey requests being generated are genuine and the results impact business operations. More survey requests mean that companies recognize the value of customer perceptions. This value when documented in a survey can only result in more tailored, quality-based products and services in the future. If you are considering a survey, make sure you have a professional coaching you through administering this worthwhile modality.

If you are interested in conducting a survey with RMS, a market research firm in Syracuse NY, contact our Business Development Director Sandy Baker at SandyB@RMSresults.com or by calling 1-866-567-5422.

 

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Yesterday in the Research Bunker, I posed this question to our two analysts: “In your opinion, has convenience sampling overtaken random sampling as the preferred method of sampling in quantitative research?” Working in market research and on surveys daily, sampling methodologies become a key piece to answering our insights puzzles for our clients. Depending on which sampling route you take, there will always be pros and cons to weigh. Such considerations as time versus cost, accuracy versus speed, etc.

Convenience Sampling Versus Random Sampling

(Pic via blog.questionpro.com)

Our two market research analysts at RMS offer their take below on the question of convenience sampling versus random sampling:

  • Vance Marriner, Senior Research Analyst at RMS – The majority of the clients I’ve worked with over the years have been fairly new to market research and/or have tended to rely on our judgment for the best approaches to methodology and sampling. If anything, when the question of sampling has come up, it’s more often the case where the client has suggested a convenience sampling approach and we have convinced them that a random sampling approach was more appropriate for their needs (or vice-versa). That said, my own opinion of convenience sampling has evolved a bit over the years, and I’m more open to it in some circumstances than I used to be in the past. Mostly, that evolution of opinion has been due to a shift in the realities of the research landscape (e.g., erosion of landlines) that have made random samples more difficult and more expensive to obtain. That, combined with the growing trend of clients valuing faster turnaround for research results, has led to a situation where the choice at hand isn’t so much convenience sampling versus random sampling, but convenience sampling versus simply not doing research at all. In those cases, I think it’s okay to work with convenience samples, but it’s essential to make sure that everybody involved understands the limitations and implications of the approach and adjusts their expectations accordingly. Basically, the trade-off is that research done with convenience samples gives you “fuzzier” answers to your research questions, but sometimes that’s preferable to not having no answers at all.
  • Chris Coville, Senior Research Associate at RMS – While the selection of a sampling method is most certainly a case to case basis for each project, I do believe non-probabilistic and convenience sampling methods have grown in popularity. Depending on the project, random sampling can be difficult, costly, and a lengthy while convenience sampling can be inexpensive and provide a quick turn-around. When looking to convenience sampling methods, it’s important to remember that not all methods are equal with regards to bias and error. If you do use a convenience method, then you need to properly evaluate the data collection process and try to cut out any issues in an attempt to keep the sample as “random” as possible (e.g., if you’re conducting intercept interviews at the mall or on a college campus, don’t conduct them all in the same exact location). Convenience samples can be a great option when you’re conducting base level exploratory research or if you have multiple research components to backup your findings. Most importantly, when you’re reviewing the research results, you need remember the fact that you used a non-probabilistic sampling method. Keep that in mind before making any decisions based off of the results (e.g., if you’re using a referral sample, homophily is going to be a major concern and you can expect the respondents to have similar traits and preferences).

Research & Marketing Strategies (RMS) is a market research firm in Syracuse, NY. For more information about Vance, Chris, and the authors of the RMS Bunker Blog click here. If you are interested in consulting with RMS for your market research needs please contact our Director of Business Development Sandy Baker at SandyB@RMSresults.com or by calling 1-866-567-5422.

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