A market research panel is a group of individuals who have agreed to participate in market research studies and surveys on an ongoing basis. These panels are typically created and managed by market research companies. Panel members, often referred to as respondents or participants, are selected based on specific demographic criteria or other relevant characteristics to ensure that they represent the target audience for the research.
Market research panels are valuable because they provide a pool of willing participants who can be surveyed or interviewed repeatedly over time. This allows researchers to consistently gather data, opinions, and feedback on various products, services, or topics. Panels are used in a wide range of research activities, including product testing, consumer behaviour analysis, brand perception studies, and more. The insights gathered from these panels help businesses make informed decisions and refine their strategies.