The University of Georgia and the Market Research Institute International (MRII) are proud to offer a new online course, Emerging Methods and the Future of Market Research, authored by Zoe Dowling, Ph.D., the Senior Vice President at FocusVision, where she uses her research expertise to help clients best apply FocusVision’s technological solutions. We are grateful for the course to be sponsored by Dynata, a global leader in providing accurate, timely, trusted data from one of the world’s largest collections of permissioned first-party data. The course focuses on a set of trends that are beginning to define the future of market research and describes the rapidly evolving trends in the market research industry. The following is an excerpt from the course on the trends impacting market research.
In a world of rapid change, much of it fueled by technology, many of these changes have had a direct influence on the trends impacting market research in recent years and will continue to evolve. The factors contributing to its evolution are within:
Here’s a brief look at each element.
A compelling argument can be made that computing and digital technology is the most significant driver of change within our world today. The last fifty years have brought accelerating developments in computing power, the development and widespread ownership of the personal computer (PC), the Internet and most recently, the smartphone.
Culture is constantly evolving. Many factors contribute to small-scale shifts in popular culture as well as the slower, more massive societal developments. Technology is one of those contributing factors. Culture and brands are intertwined. To be successful, at a minimum, brands need to be in step with culture. But they often strive to be ahead of culture and the driving force within it.
Just like culture is evolving, the business world is also experiencing its own metamorphosis. Consumers are changing. Businesses are changing. Insights departments and their roles are changing. Technology is another significant factor in changing business needs. Within the trends impacting market research, we see that advancing and new technologies now open up new avenues for research approaches.
New technologies, changes in culture, and 21st-century business needs have had a considerable influence on research and the organizations undertaking the research. The emergence of new mainstream technologies, such as wearable technology, opens the door to new data sources and streams, and new metrics about consumer behavior, all of which makes possible new kinds of insights driving product design, as well as marketing initiatives.
New technologies on the horizon pose even more changes over the coming decade and beyond to the trends impacting market research. However, with such rapid developments, market research is perpetually looking for the ‘next big thing’ and, at times, it can be challenging to discern the hype from true potential.
For more information on the course and the trends impacting market research, please register for the Principles Express course Emerging Methods and the Future of Market Research today.