Archive for the ‘Industry News’ Category
ESOMAR has recently published its latest Global Prices Study, which shows the USA holding on to the No. 1 position, again making it the most expensive country in which to do research.
The ten countries which now in 2012 have been found to be the most expensive are the same ten that had the highest Global Index price scores in 2010, when the survey was last run. While the USA and Switzerland lead the charge with first and second place respectively, Canada has moved swiftly up the rankings from tenth to claim this year’s third spot. The UK has also risen from ninth to become the fifth most expensive country. The top ten’s biggest faller was France – previously in third place but now in ninth.
The Top Ten most expensive countries for research
Conversely, the least expensive countries for research are shown in the table below. It should, of course, be noted that these markets are all quite small (in overall value terms) – albeit growing.
The Top Ten least expensive countries for research
The study re-confirms the complexities of global research: Not only do prices vary between one country and another, but the available research options differ as well. For example, online research is not available in every market – and may not always be appropriate in every market where it is available.
Other notable findings from the study include:
• In the USA, UK, Germany, France and Japan, the five markets with the largest volume of spend, the price of online research actually fell.
For more detail about the ESOMAR Global Prices study, please click here.
A couple of weeks ago, B2B International Director Carol-Ann Morgan took part in a roundtable event in London hosted by Marketing magazine. ‘Greater Insights 2012’ invited some of the UK’s foremost market researchers to lead a discussion on what’s hot and what’s not in the market research industry at the present time.
This week, a report on the day’s debate has appeared in the magazine. Amongst other things, the attendees discussed their shifting roles and the ways in which the industry can help organisations unlock the secrets of their clients and consumers.
The market research industry has change immensely in the past decade or so with the arrival of the internet and its subsequent advances – and few would argue that the industry has not benefited tremendously from this digital revolution. Yet does this mean ‘traditional’ market research no longer has a place?
In an article featuring in the latest issue of Quirk’s, Stephen Turner argues that a hybrid approach is always the best when it comes to a well-rounded market research project. It’s hard to disagree with his reasoning:
Of course, all research methodologies have their respective pros and cons; nor is this the first time that advancements in the industry have caused people to sit back and reassess things. Back in the day, face-to-face, house-to-house opinion polling went into decline as postal and telephone surveys gained in popularity. Both of these ‘new’ methodologies had distinct advantages but also a number of drawbacks – it’s difficult, for example, to provide visual stimuli during a telephone interview. It’s probably fair to say that every approach has advantages but leaves something out in the process.
There is no doubting that the internet is an extraordinary tool which has redefined our ability to reach diverse segments of people. However, like all of the new techniques before it, there is still an important body of information left on the table, even as technology brings us ever closer to the experience of face-to-face communications. Non-verbal communication (body-language, posturing, etc.) forms an important part of our understanding, and simply goes undetected when interviewing does not take place face to face.
The problem is, of course, that face-to-face work is expensive and time-consuming. It is especially difficult when you need to talk to people who are geographically dispersed. Yet, Turner argues that, in spite of the huge amount of reliable and valid information garnered elsewhere, face-to-face interviews are essential in order to truly understand peoples’ thoughts, feelings and dispositions toward the products, services and communications that we research.
Turner concludes by advocating the development of hybrid approaches to research which include various components. In essence, this is what we at B2B International do each time a client comes to us with a market research ‘problem’ they need help in solving. We look at all the different ways we could go about gathering the required intelligence, weigh up the pros and cons of each methodology and (taking into account any additional budgetary and time constraints) propose the most suitable combination of methodologies to best fit the bill.
Find out more about the techniques and tools we use here.
You can read the article in full here.
The new ESOMAR global market research industry report for 2011 shows that the industry has now grown to US $31.2 billion in 2010.
This represents an overall growth of 5.2% and 2.8% after adjustment for inflation – a significant improvement on 2009 but in line with expectations of economic recovery.
Some of the key highlights of this report include:
For a more detailed look at the figures visit: http://www.esomar.org
OK – so you might not be all that surprised when a company that organizes virtual events releases figures announcing that 60% of U.S. marketers plan to increase their spending on…you guessed it – virtual events. But it’s certainly hard to deny the increasing importance and influence that technology has on the way we all work and conduct business nowadays.
Unisfair’s research, conducted online last month with more than 550 marketers, also indicates that 42% of marketers plan to reduce spend on physical conferences and trade shows in the next 12 months. Highlighting the accessibility of virtual events, the study shows 27% of respondents to have attended these events from their beds, 11% from beaches or swimming pools, and 4% from airplanes!