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Beyond Market Research: The declining use of the word Market Research and how the sector can adapt

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Beyond Market Research: The declining use of the word Market Research and how the sector can adapt

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Although the term is well established as an industry definition its use and meaning have become increasingly contested. This presentation will bring together a range of sources and research that reflects key stakeholders in MRX, including research agencies, academics and data on wider use of the term. The research was conducted by Jake Pryszlak in conjunction with his Research Geek blog that will prove a valuable asset and learning for the sector to move forward. The presentation will showcase recent results and explore how agencies are moving beyond MRX to generate value and broader economic superiority.

Although the term is well established as an industry definition its use and meaning have become increasingly contested. This presentation will bring together a range of sources and research that reflects key stakeholders in MRX, including research agencies, academics and data on wider use of the term. The research was conducted by Jake Pryszlak in conjunction with his Research Geek blog that will prove a valuable asset and learning for the sector to move forward. The presentation will showcase recent results and explore how agencies are moving beyond MRX to generate value and broader economic superiority.

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Beyond Market Research: The declining use of the word Market Research and how the sector can adapt

  1. 1. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Should we leave the label behind? Jake Pryszlak Researcher Blogger Speaker
  2. 2. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR
  3. 3. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Lets not forget where we have come from 1820 1900 1920 1995 2007 2017
  4. 4. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Data Utopia 1980’s 1990’s 2000’s 2010’s Today
  5. 5. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Research undertaken
  6. 6. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Each agency was analysed under the following criteria: The presence of the term ‘market research’ in a descrip<on of the agency in the page <tle Presence of the term ‘market research’ in descrip<on of the company’s core ac<vi<es on an about page, or similar page explaining core company ac<vi<es Presence of the term ‘market research’ in a business unit or set of product offerings Alterna<ve phrases used instead of, or in addi<on to, market research to describe core business ac<vi<es
  7. 7. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Out of the top 10 ranking agencies Of agencies menNoned ‘market research on their homepage 30% Of agencies menNoned ‘market research on their ‘About page’ 20% Of agencies menNoned ‘market research’ as a secondary term 40% Only 2 agencies are using ‘market research’ across their website and ‘sales pitch’
  8. 8. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Out of the top 50 ‘consolidated agencies Of agencies menNoned ‘market research’ as part of their ‘offer’ to clients Of agencies menNoned ‘market research’ in their ‘About page’ or/and individual colleague web pages 28% 36%
  9. 9. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Is terminology changing?
  10. 10. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR With terminology changing, do MR budgets need to change also? 10% 5% B2B MR Percentage of revenue that goes to markeNng
  11. 11. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR In an industry related to MARKETING, is it confusing that we spend very li^le Nme on ‘showing off’? If you wish to comment on social media, please use #NewMR
  12. 12. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Strip away the people and technology and what do you have?
  13. 13. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Should universiNes conNnue to offer courses and modules labelled ‘market research’? If you wish to comment on social media, please use #NewMR
  14. 14. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Do graduates and young professionals need to enhance their skill sets before entering the world of MRX? If you wish to comment on social media, please use #NewMR
  15. 15. The use of the term ‘Market Research’ Jake Pryszlak Beyond MR Q & A Sue York The Handbook of Mobile Market Research Jake Pryszlak Research Geek

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