Predictions 2009: What Happens In Market Research?

Tough economic times will actually serve to turbocharge the "faster, cheaper, better" changes that have been revolutionizing the business of market research — but expect an increased emphasis on "cheaper." To save dollars in 2009, more firms will use online survey tools themselves instead of outsourcing to full service firms. Large research firms will increase acquisitions as medium-size firms' valuations are hammered down. Traditional qualitative research will see erosion as market research online communities (MROCs) and fusions of quantitative and qualitative research from firms such as Invoke Solutions gain steam. In short, everyone will be looking for ways to gain insights to succeed in a troubling market in as cost-effective a manner as possible. This means that newer research modes will gain traction and grab more share of stable or declining market research budgets — even among research buyers who have been more traditional in the past.