1. Industry Questions - (The following questions were asked during various interviews with the media.)
Q. Is consumer panel research becoming an increasingly preferred method for acquiring quantitative research today when compared to 10, 20 years ago? - (entered Jan 12, 2007).
A. -- Yes. When you look within the many micro differences evolving within our growing consumer base, consumer panel groups are the way to go. Identifying an appropriate methodology for working with ‘multi-cultural’ panel groups remains a challenge forcing research firms to ‘think-out-of-the-box’…. something many have not had to do for a long time!
Decades ago our society was primarily Caucasian. Today, what was once considered the majority is quickly becoming the minority. …and the trend continues. To add fuel to the confusion the term 'multi-cultural' is becoming broader in scope and will soon include wired and non-wired generations within each respective culture. The difference is far more acute than the typical generational differences that we once associated parents with their children.
Q. When should I use 'Focus Groups' versus 'Panel Groups' to conduct consumer market research? - (entered Dec 1, 2006).
A. -- Focus Groups are used to measure consumer behavioral changes and are conducted within controlled environments with a small group of participants (10 to 12). Panel Groups are used to measure quantitative data and involve a much larger pool of participants (50 to 1,000+).
On paper Focus Groups offer valuable feedback from within a controlled environment that otherwise would not be attainable. Unfortunately we don’t live in a perfect world and potential problems can emerge due to uncontrollable factors such as last minute cancellations and multi-cultural differences. Perhaps the greatest problem is the increasing cultural diversity inherent within our population. The greater the diversity, the greater the need to select appropriate representation from each ethnic sub-group. One might conclude correctly that the latest trend to switch from focus groups to panel groups may have to do with the need to properly balance a more diverse population of consumers.
Q. How can I select consumers to build a segmented Panel Group? - (entered Nov 17, 2006).
A. -- Panel Group members may be sourced in numerous ways. Typically they are extracted from a larger database based on a set of parameters such as age, gender, income, etc. The choice of methodology relies entirely on the research objectives of the project. Market researchers will look to achieve a balance of representation that may coincide with a secondary source of data such as from a tax roll. For example, if the tax roll shows that 20% of the population has lived in the area for 5-10 years, then the Panel Group selected for an opinion study should mirror this similar breakdown. Other parameters may be added to the mix based on the overall objectives of the project.
2. General Questions about Market Research Trends
Q. What is the difference between a 'Consumer Panel Group' and a 'Consumer Focus Group' ? - (entered Sep 22, 2006).
A. -- The terms ‘Consumer Panel Group’, ‘Panel Group’, ‘Opinion Panel Group’, and ‘Panel’ are commonly interchanged to define a group of selected experts who offer specific insights. In the statistics world a Panel Group is defined by the number of participants. Panel Groups usually include 20+ participants. Smaller groups (<20) can also be referred to as a panel (i.e. panel of experts) but in the world of research are commonly referred to as a ‘Focus Groups’. Focus Groups usually consist of 8 to 12 people and are part of a study that includes a qualitative component where physical as well as emotional behavior may be observed from a concealed room. Since ‘Panel Groups’ are large in size, they are mainly used for quantitative market research. It is not uncommon to form a large panel that is later divided into subgroups or ‘Focus Groups’ for qualitative analysis.
3. Questions about ResearchPAYS, Inc. Services
Q. How can ResearchPAYS, Inc. enhance my existing market research efforts? - (entered Aug 2, 2006).
A. -- Increasing rather than limiting consumer data collection efforts is one area where ResearchPAYS, Inc. can help. Today, many companies perform Annual Quality Assessment surveys to cover a wide range of issues regarding a particular product or service. The results become benchmarks from which to gauge future marketing decisions. Since the process is expensive, companies tend to limit their other data collection needs to small 'focus groups' or to speaking with industry experts.
With the cultural diversity of consumer buyers growing, the need to probe and monitor their buying preferences on a regular basis has become imperative. Using the ResearchPAYS patented solution, companies can evaluate a more representative cross section of their buying consumers on a geographic basis while concurrently generate strong community marketing visibility.
