- Margin of Error
The Margin of Error is the range that we would expect to see in the larger population, given a particular response in the sample. For example, if we see a response of 50% in the sample, and have calculated a margin of error of +/- 3% (based on size of the sample and variability in individual responses), that means that we expect the “true answer” for the larger population to be somewhere between 47% and 53%.
- Market Development Strategy
A market development strategy is a growth strategy where a business seeks to enter new markets with its existing products or services. The goal is to expand the customer base by targeting segments or geographic areas the company hasn’t served before.
- Marketing Mix Modeling
Marketing Mix Modeling (MMM) is a statistical analysis technique used to measure the impact of various marketing activities (the “marketing mix”) on sales or other business outcomes. It helps businesses understand which marketing channels drive performance and how to optimize marketing spend.
- MARS
Measurable – Accessible – Responsive – Substantial. MARS is a framework used to evaluate and select market segments to target. Organization leverage MARS criteria to determine whether a particular segment is worth focusing on.
- MaxDiff
MaxDiff (Maximum Difference Scaling) is a survey-based research technique used in marketing to measure preferences or the relative importance of various items (such as product features, benefits, or messages).
