Archive for the ‘Market Research UK’ Category
Monday, July 12th, 2010
ESOMAR recently published the results of its eighth annual Global Prices Study 2010, which evaluates the pricing of different types of market research around the world.
One of the interesting points highlighted by the study – which was conducted among 100 countries – was the huge variety, not only of prices, but also of research methodologies favoured or employed in different geographies. For example, online research is not available in every market; similarly, face-to-face interviewing is not conducted everywhere.
However, one of the most notable findings from the perspective of B2B International, which researches markets worldwide from its offices in the UK, USA and China, was the fact that the USA topped the rankings as the most expensive market globally in which to conduct research.
Matthew Harrison, Director of our New York office, explains why the results of the survey did not come as a surprise to him:
“There are actually a number of fairly understandable reasons as to why the cost of research in the United States can seem high. Firstly, it’s a pretty large country, which brings with it all the challenges you would expect when reaching respondents across a wide geographical area – not to mention that a larger sample size is often sought in order to give a true reflection of opinions and facts.”
“Secondly, of course, the US boasts a high standard of living and high average incomes. As a result, those involved at every stage of the research process – from focus group venues to online survey providers through to full service agencies such as ourselves – incur higher costs, which ultimately have to be passed on to the end client.”
“It would, however, be remiss of me not to point out that the United States is probably the most developed and advanced research market in the world, with many top-class market researchers. Equally, American research buyers are very sophisticated and require a high level of analysis which needs to be built into the cost of the study.”
Harrison, however, additionally points to a slightly more unusual contributor to the high prices associated with the US:
“Another consideration to be taken into account is the high reliance of many business executives on voicemail. Whereas a small number of attempts at reaching an individual may be necessary in many parts of the world, in America it is not uncommon to ring a business respondent seven or eight times in order to secure a telephone interview with them.”
These facts aside, Harrison is keen to point out that while the actual price of research in the States may appear on the high side, the return on investment gained from good quality market research should never, ever be underestimated.
Posted in
Market Research, Market Research UK, Market Research USA, Matt Harrison, Return On Investment, Service |
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Wednesday, June 24th, 2009
Not every industry can boast strong growth this year. And within each industry sector, not every geography will have experienced a great 12 months. Yet we are pleased to report that the UK market research industry has this year grown by an impressive 6.2%.
According to the Market Research Society’s (MRS) annual survey, the UK market research industry – the second largest in the world – is now worth an estimated £2.16 billion (2008 figures), up from £1.8 billion in 2007. Meanwhile revenue generated from international research grew by a remarkable 12.5%.
The 6.2% increase over the past year compares extremely favourably with revenue growth of 2.3%, 2.4% and 2.5% in 2007, 2006 and 2005 respectively.
Of course, there can be no guarantees about the sector’s growth for 2009. Yet market research – which is arguably even more vital to ensuring the survival and growth of companies, across all industries, when times are hard – has, unsurprisingly, proved itself to be “relatively resilient compared with other disciplines in the marketing services sector,” during previous downturns, according to The MRS Director General.
The news that international research is experiencing such an upsurge is pleasing for us at B2B International, yet presents no real surprises. Having conducted b-to-b research across the world for many years now, we have experienced first-hand the increasing desire of many clients to compete on a global scale. With a growing presence in Asia and the Americas over the past few years, B2B International is now even better placed to serve UK clients looking to research international markets.
To find out a bit more about our international market research services, click here.
Posted in
Global Research, International Market Research, Market Research UK, UK |
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