Opportunities and Threats in Market Research
Having chosen to study Marketing and Advertising at university, I wasn’t prepared for the compulsory market research module. I faced every seminar with dismay as my classmates and I dreaded the endless dry statistics and spread sheets. The projects set were dull, the teacher unenthusiastic and applications to real life situations minimal. It didn’t take me long to form negative opinions about market research – research was boring, irrelevant and involved a lot of number crunching. Here lies what I consider as the most significant threat to market research. Too many people are put off by a job in research due to the same misconceived perceptions I had.
What I failed to realise, along with many others, is how varied research is and how far it is from the impression I had been given at university. I had no idea at the time how nearly everything we consume – from the adverts we see and the products we buy to the prices we pay for them – has been a direct result of customer insights. Research is impacting everything around us and influences thousands of business decisions, so why is it still so often recognised as being dull and uncool?
Read Hannah Mumby’s blog post on NewMR.