Kyle Peters is an Industry Studies Manager with The Freedonia Group, a division of MarketResearch.com, where he leads a team of analysts focused on the vehicles and equipment and chemicals sectors. Throughout his 7+ years at Freedonia, Kyle has authored over 40 studies, and his research has been cited in numerous trade journals, as well as in publications like The Wall Street Journal and Bloomberg Businessweek. Kyle was also featured as a panel speaker at the 2016 Ceramics Expo, moderating a discussion about next generation refractories.
Kyle graduated from Hiram College with a Bachelor of Arts in Economics. For more on his perspective on market research today and the work he does for Freedonia Industry Studies, check out the interview below.
How did you first become interested in market research?
My education at Hiram focused on History and Economics, which I think translates well to market research. I enjoy gaining an understanding of the history of an industry and how that impacts the future.
What are some capabilities and services that Freedonia provides that go beyond the report?
The one that I think makes the most impact is that our clients have the ability to talk to the analysts. Those conversations are a great opportunity for both parties to get a better understanding of the topic and the research.
How long does it take to produce a report?
It depends on the size and complexity of the project, but on average it takes 6-8 weeks from start to finish. But I’m not the only one working on the report – our Economics team compiles our background data, and the Corporate Analysis department puts together the company information that is included in the report.
What is your favorite study that you’ve worked on?
My favorite would have to be World Major Household Appliances or HVAC Equipment. A lot of the topics that I’ve covered focus on large industrial equipment or industries that I don’t interact with on a personal level. Covering markets where I’ve purchased and used the products as a consumer provided a different perspective that was quite enjoyable.
How does Freedonia maintain the quality of its research?
Primarily through our in-house editorial and economics team. Editorial does a fantastic job making sure that the text and analysis of the report is sound, and economics develops and provides detailed composite indicators that all of our reports use, which ensures that there is consistency throughout the company.
Why is market research so important for companies today?
Our studies take a look at the industry overall and project future growth (or lack thereof) in an unbiased way. It’s important to know that just because one company is expanding or shrinking doesn’t mean that the whole industry is following that same path. By taking advantage of market research, companies can compare their own growth to that of the market at large, as well as get a better understanding of ways they can improve and/or follow improvements their competitors have made.
What publications do you read regularly?
Somehow I’ve been getting Bloomberg Businessweek and Time magazine sent to my house, so I’ve been reading those a lot lately. Oh, and Food & Wine magazine. It doesn’t help me with my work, but it’s got a lot of good recipes.
What’s your favorite office tradition?
The potlucks. Specifically the Pie Day pie themed potluck, mostly because I’m still the current champ in the sweet pie category (shout out to my lemon tart!).
The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985, Freedonia has provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning.