Fortune 500 researchers often juggle the need to deliver fresh customer insights with the mandate to minimize research costs. How do they do it? By cutting costs where they can,… Continue reading Market Research Strategy Trends in the Fortune 500
Fortune 500 researchers often juggle the need to deliver fresh customer insights with the mandate to minimize research costs. How do they do it? By cutting costs where they can,… Continue reading Market Research Strategy Trends in the Fortune 500
“Market research firm releases pet ownership study: Forgets to survey people who own cats.”
Can you imagine? Conducting a study on a topic, and forgetting to include participants who represent a large percent of the market?
It happens all too often. And we cannot blame the DIY researchers. I have met the enemy, as the saying goes, and it is us.
A total of 35 market research industry predictions were posted during the last two weeks of 2010. For each one, people could vote for or against the item, resulting in a net score.
…the premise is simple: through early detection, events or patterns can be escalated as needed, thus preventing, or at least minimizing, problems.
Social media research is a powerful tool that can be used as an early warning system by many types of businesses. Consider the following four applications.
-3. Social Media Research to Capture 25% or more of MR budgets by 2012. It had actually been hovering around positive 3 and 4, then came down! Does this mean more people really think SMR will not take off? Or that clients will use free/low-cost tools such that it won’t take up much budget?
Bottom line? Some primary research can be simplified through select investments in secondary sources. Here are a few places to look:
My premise is that one of the market research world’s greatest challenges is that market research departments spend 70% or more of their time on project management—as opposed to the strategic functions that would lead to more innovation.
The market researcher who clings to conventional surveys and focus groups like a life raft on a turbulent sea is going to drown. Those who judiciously add various social media and ethnographic-based methods along with some of the other fabulous new qualitative research tools out there will be able to navigate through the storm—and best help clients choose the methods (or mix) for their unique needs.
Talking to competitors’ customers is a great form of market research and it is surprisingly feasible in many markets.
Have you found yourself needing to forecast a new product’s adoption potential? Sales volume by region for the next 3 years? How about the potential upside of a new distribution… Continue reading In Uncertain Times, Embrace Scenario Planning
