Research Topics:

Marketing Research-General | Quantitative Research | The Business of Research

Content Type:

Glossary

Factor Definition

A variable that is controlled or manipulated by the researcher. May also be known as the independent variable or factor.

A factor is a variable or component that’s controlled or manipulated by the research to influence the consumer behavior, preferences or opinions. This also is known as the independent variable. Factors can be any relevant aspect – demographic, psychographic, economic or cultural, to name a few –  that impacts consumer decision-making and market trends.  Factors provide insights that shed light on the underlying motivations, desires and concerns of consumers when they choose products or services. In other words, factors help marketing professionals understand the motivations behind consumer choices because they bridge the gap between a business's offerings and the consumers they aim to serve.

Who relies on a factor?

Companies, product managers, advertisers and marketing professionals use factors to better understand marketing strategies, products and services that impact target audiences. With that knowledge, businesses can enhance  products, develop advertising campaigns and improve marketing.

Why should I care about factors?

Understanding factors that power consumer behavior can help companies and marketing professionals enhance product development and improve pricing promotion and distribution strategies. Without a clear understanding of factors, businesses may miss opportunities to connect with their markets and improve their sales.