Describe the evolution of market research and how has the role of market reasearch changed
Answers
1. How do you see the market research industry evolving and how can you contribute to it?
I see the market research industry evolving in three directions. The first is towards global research at a granular level. Right now, global research seems to aggregate to the national level. But most nations are complex mixtures of regions and cultures that are not accurately represented in the aggregate. I believe that market researchers seeking insights in developing nations will have to think locally. A market in Hong Kong is very different from a market in Guangzhou or Beijing. Knowing those differences, forming partnerships with local research suppliers who understand those differences, and immersing ourselves in those differences will lead to better understanding of global consumption.
To that point, I am eager to contribute to global research by immersing myself in foreign cultures and understanding how consumers, shoppers, and channels work in different regions. On a recent trip to China, for instance, I saw how in-store promoters completely changed the shopping dynamic for Chinese shoppers. Almost every aisle had promoters attempting to sell their employers' products, and companies without promoters were pushed off shelves and overlooked by shoppers. This is not something I could have truly understood had I not witnessed it myself. In the future, I wish to continue to immerse myself in different cultures to understand how consumers differ around the world.
Second, I believe that the market research field will see a synthesis of quantitative and qualitative research. We are seeing the beginning of this now: Neuroscience is allowing us to quantify consumer beliefs at a deep emotional level; virtual shopping allows consumers to experience a store environment and allows researchers to quantify the shopping experience; social media is changing how panels and ethnographies are being conducted. I believe this trend will continue, and soon we will see a unification of 'quant' and 'qual.'
I hope to contribute to this trend by thinking beyond the standard quant/qual barrier and exploring ways to unify the story told by research methods. Finding concrete ways to tell one story will simplify and clarify business decisions and consumer insights.
Third, I predict that market research will emphasize the increasingly important role of the shopper, especially in light of new channels. Understanding how the shopper makes decisions, and how those decisions are different than those self-reported by consumers, will be critical in improving store and shelf design, as well as display and feature usage. Meanwhile, understanding what new channels are emerging and how shoppers are using them will be vital for companies, even in the consumer packaged goods industry. For instance, I worked in confections, which is mostly bought on impulse. How does impulse behavior present itself when shopping via e-commerce? Such questions will require answers as more consumers are moving into non-traditional channels.
For my part, I hope to be on the forefront of understanding how shoppers approach new channels, and how to sell tangible products in intangible markets. This will be challenging, but I am looking forward to the way this will revolutionize shopper insights.