A consumer panel refers to a research technique designed for measuring markets that utilize the same respondent sample, or group of people, on an ongoing basis. This research technique has advantages over other techniques as an efficient means of measuring behaviors and markets.
Consumer panels help marketers understand trends in areas such as brand improvement. Consumer panels measure the purchasing behavior and subsequent usage patterns of a respondent sample, often over an extended period of time. Marketers can then study the impact of changes in marketing inputs, such as packaging, promotions and pricing.
Consumer panels can be used to identify changes in consumer habits. Marketers use key factors such as trial (how many consumers try the new brand) and repeat purchase (how many people purchase the brand a second time.) Consumer panels consist of a static sample of respondents representative of the overall market, and are asked to report their daily purchases on a continuous basis, thereby making it possible to measure those key factors.
Marketers use consumer panels to analyze the availability and effectiveness of key distribution outlets. Consumer panels enable marketers to sample trends in various outlets, then analyze the contributions from each outlet and make strategic decisions during trade negotiations.