Is market research in decline? Don’t tell that to Vancouver’s Vision Critical
This moment could best be described as one of flux for the big market research firms in the United States and beyond. Nielsen, WPP and Ipsos have all recently released reports that seem to signal a decline in traditional market research.
Martin Sorrell, WPP’s CEO, recently described the sluggish state of advertising as one of “hand-to-hand combat in the trenches”. Proctor & Gamble, with its annual ad spend of $5 billion, has just announced a top-to-bottom overhaul of the way it spends that budget after two years of frustratingly hit-and-miss results with Nielsen and its IBM-supplied service DemandTec.
Meanwhile, Plano, Texas-based digital data collection firm Research Now has just announced a partnership with Vancouver’s Vision Critical, a long-time innovator in the field of market research. You may not have heard of Research Now, a global leader in digital data collection, since they’re nowhere to be found in the 2012 Honomonichl Report, the go-to reference on the state of the industry. Which is why, if all you’re paying attention to are the fortunes of traditional market research, you might have the impression that the industry is going down, and going down hard.
Read the full article from Cantech Letter.