Opportunities and Threats in a Brave New Market Research World – Edward Appleton

Post by Edward Appleton, European Consumer Insights Manager at a major multinational based in Munich, Germany. Much is written about how much Research has changed over the past few years – mobile is the latest big thing, social media is hovering in the background to be trawled for insights, ethnography is making a comeback, online qual. is proving extremely popular thanks to the speed and ease with which selected consumers can give their opinions on a whole range of subjects. Behavioural Economics has pointed out with much fanfare what qualitative researchers have always known – that context, social influence and emotions play a huge role in influencing what we say and do. It’s exciting times, and from a Client perspective almost bewildering – the array of options from which to choose from is expanding rapidly, and the new normal seems to be that any one insights challenge requires a mixed methodology approach, using online, offline, qual and quant. We encircle our subject with an ever better (we hope) sense of what’s really going on – making Research an even more powerful tool. So why the ongoing sense of Angst – that Research is threatened? Shouldn’t we be relishing change as […]

MR – growing…growing…going…? – Nasir Khan

Post by Dr Nasir Khan, known on Twitter as @Banglaman, founder of Somra-MBL, Bangladesh. Buzz abounds on the MR industry’s future! Is it facing just threats, or fast becoming a ‘goner’? Interesting…An industry that has been doing SWOT analyses for commercial as well as social ventures, is doing its own SWOT now. The right thing to do! Many researchers think that the global MR industry has gone ‘berserk’, heading towards demise, while others feel it’s doing just fine, provided we think and see the big picture (big data included, pun intended), and accept change. As I write this blog, I am aware that, being a researcher in an emerging market, I ought to think and express my thoughts on MR SWOT from this market’s perspective. However, the more I think along this line and compare with what leading researchers from developed nations say on different platforms (ESOMAR events, NewMR webinars and podcasts, the GreenBook Blog, etc.), the more I am convinced that, due mainly to globalization, there’s hardly any difference between the state of affairs in the developed and developing world. True, more than ever before, MR is facing threats from within and without, but we need to think positive! […]

Lessons from stock market research

Market research tends to look inwards when it tries to assess it strengths and weaknesses, but perhaps interesting comparisons can be drawn from the world of stock market research? A recent article in The Economist reviewed the world of stock market research and it revealed some interesting comparisons with market research. The core of stock market research in the past has been provided by organisation such as banks, in the hope that good advice will lead to investors spending more money, which in turn drives revenues from equity trading. The first key comparison is in the size of the market. Market research growth has been relatively flat over the last four years, but the stock market research industry has seen a fall from about $14 billion in 2009 to about $9 billion in 2013 in America. In Europe the fall was from 4 billion Euros to 3 billion. The Economist describes the decline as being driven by the shift to passive investing and algorithmic trading – which might have implications for market research automation and the use of DIY solutions by clients. The Economist highlights some interesting changes in the structure of the reduced stock market research options. For example, […]

Which analysis approach will have the biggest impact on market research over the next five years? My vote is for text analytics?

From neuroscience to behavioural economics, from advanced and adaptive choice models to participative ethnography, from facial coding to big data there are masses of analysis approaches that are threatening to be the next big thing (yes, I know they are not all new, but they are contending to be the next big thing), and I’d love to hear your thoughts. However, in my opinion, text analytics (using the term in its widest sense, but focusing on computer assisted and automated approaches) is my pick for the biggest hit of the next few years. There are several reasons for this, including: The software is beginning to work, from tools to help manual analysts at one end of the spectrum, to better coding, through to concept construction software, the tools are beginning to mature and deliver. Text analytics, as a category, is not linked to a niche. Text occurs in qual and quant, in free text, in the answers to survey questions, and in discussions. Text analytics will help us ask shorter surveys, one of the key needs over the next few years. Instead of trying to pre-guess everything that might be important, researchers can reduce the number of closed questions massively, […]