10 challenges that market research companies face
TRANSCRIPT
10 Challenges That Market Research Companies Face
Eminenture.com
Market research companies tussle with numerous challenges. These can be related to methods, clients, results, technologies, differentiation, quality, internal skills, old and new methods and communication.
Market Research
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Challenges Eminenture.com
1. Methods
• Messy and clumsy data.• Low response rate of research resources.• Juggling with the utility of tools.• Privacy and security create hurdle.
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2. Clients
• Client’s expectation of quick research.• Low budget for thorough research.• Seduction of high-tech solutions.• Quick changes in their desire.• Wrong analysis by client himself.
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3. Results
• Lacking executable insights.• Missing deadlines of delivering the report.• Hollow promises and low-quality work frame.
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4. IT Technologies
• Ignorant of IT tricks for data handling.• Clunky result via mobile technologies.• No real-time information. • Puzzling social media.
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5. How To Differ
• Tougher to demonstrate unique value.• Tougher to serve lesser known data.• Tough to meet relevancy.• Avoiding commoditization.
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6. Take Care Of Quality
• Representation of samples is tough.• Respondents are incorrect and dubious.• Quantum of errors is unmentioned.• Shoddy data gotten at cheaper price.
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7. Employed Internal Talent
• Lacking experience and expertise.• No critical thinking.• Emphasizing quantity rather than quality.• Client devalues market research.
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8. Tussle Between Old And New
• Juggling between tradition and innovation.• Traditional methods fulfill no need.• Innovative methods are puzzling.
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9. Big Companies Versus Small Ones
• Biggies can afford fat funds.• Quality is beaten when lacking funds. • Speedy research is what both wants.• Speedy research can mar quality.
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10. Communication Problem
• How to conclude customers’ behavior.• How to utilize it. • How to keep it unbiased and authentic.• Lacking customers’ engagement.
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