Measuring the brain's response to marketing stimuli has been around for decades. Neuromarketing techniques have been applied to testing copy, packaging, concepts, movie trailers, digital media, the shopping experience and a host of other stimuli. Neuromarketing has gained considerable traction over the past 5-7 years as it has become more accessible, efficacious and scalable. Copy testing and package testing are currently ...more »
Market Research Predictions
Meaning the old way of article publishing, content ownership, advertising banners, etc. should be open across all social media platforms and should be able to plug and play across many platforms vs. one.
A great example is when a market research expert publishes a concept on an idea to share with the industry. The work should belong to the Author not the publishing channel.
The increasing pace of innovation, with many classical methods and tools being rapidly replaced / superseded by Web / Social / Rich Media tools, will leave Academia struggling to identify, codify and integrate. Accreditation requirements (Standards) and curricula will change more slowly than the Market, forcing MR firms and In-House MR departments to do more and more "Basic Training" for new-hire talent.
By 2012, market research companies will be forced to build relationships with customers on line via social media - not just sell - but actually chat!
I believe Social Media is the best way to quickly and effectively Unite the Market Research Industry. I realize nothing makes up for face to face events, and special interest groups. HOWEVER, I think social media has the ability to great change the way we think about strategy and implementation globally for market researchers. Social Media when deployed properly can reach masses and effect change quicker than a TWEETUP! ...more »
Social Media Research will = 25% or more of MR budgets by 2012. Esp for consumer brands that are investing ever more on social media-based marketing campaigns
In 2011-2012 budget cuts will be rampant, as non-MR executive management teams A) rely more on IT departments for data mining from CRM systems and B) have increasing awareness of the many low-cost tools available
Many MR departments will see the recent budget slashes reversed, as executive management now has higher awareness (and sense of urgency) of new methods such as social media monitoring
By 2015, 80% of in-house market research departments will have at least 1 full-time statistician/stats pro. Someone with the skill to deal with volumes of data, and data mining from CRM, ERP databases.
By 2015, half of the Honomichl list will be "research" companies that primarily make money selling software/hosted applications. Agencies that only sell consulting services will be increasingly rare.
By 2015, stand-along surveys (by phone, email or even sent to other devices) will be rare. Most surveys will be integrated into games, applications, shopping simulations, etc. The idea of sending 1000s of survey invites out by email will seem arcane.
Marketing agencies, advertising agencies and consultancies will gain an even bigger slice of the market research cake