Nunwood CEO forsees the death of market research
According to the CEO of the Leeds, London and New York based industry consultant Nunwood, next year will be ‘regarded as the beginning of the end of the mainstream market research industry’.
Claire Bruce said that she believes the death of the market research industry is imminent in an industry when budgets were being squeezed so tightly, there was an increased commoditisation of fieldwork and with new technologies appearing.
"Client appetite now is for 'market consulting', not 'market research', with the ability to drive action and return on investment prized much more highly than just understanding of 'quant' and 'qual' tools," continued Bruce.
“Combining the heavy-duty, often technological, consultative techniques, with some of the world’s best dissemination tools – such as market simulation and knowledge management – gives businesses far more than traditional research ever could. As online panel providers, electronic feedback management systems and out-sourced solutions gradually take over a lot of traditional research roles, the future for the industry is in this new, consultative space,” says Bruce.
“For us, 2008 has been a year when we’ve switched from being ‘insight providers’ to ‘influential advisors’, in many cases integral to our clients’ investment strategies. Too attract the best people, sustain growth and to continue enjoy working with the best global brands, it’s our firm belief this is the path the rest of the industry will start to move down.”