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.
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.
I’d like to share a little market research fun. And what’s more fun than a crossword puzzle? I have crafted a market research crossword puzzle; it was fun to make, and I hope you enjoy it.
-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?
To support this, I have set up an IdeaScale voting site titled, “Market Research Predictions Site.”
I have started by posting 9 of my predictions (though I confess, one is there to stimulate debate, and not because I actually believe it myself). You can vote on mine, and add your own (which others can then vote on).
They used an “a priori” segmentation model. Yup, that’s right. They went into the study with a hypothesized set of segments in mind. The segments were based on behavioral data from their existing customer database. During the presentation, this confused me. We were, after all, in a session on conducting segmentation. The process was defined as qual, leading to quant. But the speaker occasionally referred to the segments they started with…
If you really want to get the most from your market research investments, the first step is to do a brutally honest audit of your current research resources. Yes, it takes time. But with a structured approach, I have seen it completed in as little as ten business days.
One of the easiest ways to improve budget efficiency is to simply ask your research suppliers: “What options can you offer to reduce our research costs?” Let them know you are open to creative ideas.
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.
RFPs range widely in terms of their level of sophistication and complexity. If your need is for a simple project, do yourself a favor: keep your RFP simple. It will save you a lot of time when the proposals come back and you actually have to read them.
At minimum, a market research RFP states parameters and requests responses to the basics:
Computer-based training (CBT), also known as eLearning, is a time-efficient, cost-effective training option for busy professionals.
