Market Research Strategies Using Facebook and A/B Testing

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23 Terms

1

Facebook Audience Insights

Tool for analyzing audience engagement on Facebook.

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2

Target Segment

Hypothetical group for marketing analysis.

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3

Demographic Information

General characteristics of a target audience.

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4

Page Likes

Facebook pages favored by the target audience.

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5

Competitive Ads

Advertisements from competitors for analysis.

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6

Ad Library

Archive of all ads published on Facebook.

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7

A/B Test Plan

Experiment comparing two versions of a product.

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8

Independent Variable

Factor manipulated in an experiment, e.g., chocolate bar.

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9

Dependent Variables

Outcomes measured, like taste preference.

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10

Sample Size

Minimum number of participants for valid results.

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11

Random Assignment

Participants randomly placed in treatment groups.

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12

Blind Testing

Participants unaware of test conditions.

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13

Data Collection Methods

Techniques used to gather participant feedback.

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14

Quantitative Analysis

Statistical evaluation of numerical data.

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15

Qualitative Analysis

Thematic evaluation of non-numerical feedback.

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16

Reporting

Documenting experiment findings and insights.

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17

Price Test

Experiment to find optimal pricing for products.

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18

Click-Through Rate (CTR)

Percentage of ad clicks relative to impressions.

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19

Conversion Rate

Percentage of clicks leading to purchases.

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20

Bias Avoidance Strategies

Methods to ensure fair testing conditions.

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21

Audience Segmentation

Dividing audience into distinct demographic groups.

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22

Feedback Loop

Process of using results to inform future actions.

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23

Marketing Strategies

Plans developed based on research insights.

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