Market Research Predictions

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Market Research Predictions

Central Market Research Departments To Trend Towards Management

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.

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Companies will quantify social media data

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 »

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In 2011-2012, MR Departments will be subjected to budget cuts

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

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By 2015, 80% of surveys will be integrated w other apps

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.

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In 2011-2012, MR Departments will see budget growth

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

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Market Research Advertising Platforms Should Be Open VS. Centric

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.

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University MR Course Content Will Increasingly Lag Market Needs

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.

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Neuromarketing becomes a standard research method

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 »

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