Central Market Research Departments will find themselves increasingly focused on training, policy management, technology infrastructure, and repository/portal services, as more market research is done by various functional areas. Instead of spending the majority of time on "doing" projects, central MR departments will focus more on important tasks of MR quality and infrastructure services.
Market Research Predictions
Marketing agencies, advertising agencies and consultancies will gain an even bigger slice of the market research cake
Companies will increasingly see social media data as anecdotal, rather than representative of customer attitude. As a result, rather than risk a knee-jerk reaction that won't be optimal for the business, they will increasingly take the time to confirm what they hear in the social media world. This quantification exercise will allow them to understand how wide-spread a problem is, and whether it impacts business results. ...more »
To be replaced by broader definitions around conversation & dialogue incorporating CRM, behavioural economics etc.
MR will be increasingly defined by an ethical outlook averse to some newer techniques, which will open up MR space to new entrants
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
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.
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
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The increasing pace of innovation, with many classical methods and tools being rapidly replaced / superseded by Web / Social / Rich Media tools, will leave Academia struggling to identify, codify and integrate.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.
Sampling models will switch to more proprietary membership/subscriber models with apps being the primary means of access to respondents.
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 »