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By: Marissa Rhodes & Bryson Urie. “ The sea change wrought by the recession is causing researchers to adjust their processes to prove their worth ”. The New Economy . Consumers and businesses changing decision-making and purchasing strategies The recession- speed and nimbleness - PowerPoint PPT Presentation
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By: Marissa Rhodes & Bryson Urie
“The sea change wrought by the recession is causing researchers to adjust their processes to prove their worth”
The New Economy Consumers and businesses changing
decision-making and purchasing strategies
The recession- speed and nimbleness
Businesses making more tactical decisions without research
20-35% of a company’s market research budget on strategic research studies
Changes in Demand
Ravi Parmeswar (Managing Director of Global Consumer & Marketplace Insights ) Strategic studies Quarter projections Information and Risk What Gives real competency?
▪ Taking action and making successful game time decisions as you experience it
New world order of thinking Crosses strategic/tactical lines of
research. ▪ Example: Euro client of RSCG ( marketing
agency in Chicago)
New Market
Mounds of historical data research studies that were thought to
be set in stone are being reviewed.▪ Product Positioning▪ Market segmentation ▪ Price elasticity
Projective techniques more acceptable Open-ended, indirect questioning,
word association, and the like Scenario planning
Online Research
Real time insights ▪ Monitoring web chatter ▪ Faster and cheaper▪ Cost and time effective
New observational element-What the new ground floor is
What is the next generation of need?
Online Continued
Jamie Baker-Prewitt (senior VP and director, Burke INC, Cincinnati)
▪ Balanced approach to online ▪ Social Media ▪ Tracking Firms ▪ Create flexibility
▪ “We need to try things, identify what works, what doesn't and make changes fast. Companies that don’t do this, simply don’t last”
Questions How relevant is secondary data?
Is it more valuable to do your own research rather than use secondary data?
What type of decision making is more valuable
Strategic Tactical