How Technology Is Changing Market Research

We asked a wide variety of market research professionals, executives, and consultants to explain how technology is changing market research. As you may suspect, we encountered conflicting points of view on this topic. While most responded positively, using words like “exciting,” “faster,” “cheaper,” and “easier” to describe the effects of technology on market research, a few others fell on the opposite side of the spectrum, citing reliability and quality concerns.

For a range of diverse viewpoints, read through the 23 different quotes from leading industry commentators below, and be sure to share your own thoughts in the comments section at the end.

Topics: Market Research Strategy Industry Insights

Long-Term Care Market Exceeds $300 Billion

The long-term care market in the United States reached $305 billion last year, according to a new report by Kalorama Information, a healthcare market research firm own by MarketResearch.com. Long-term care encompasses a continuum of services including home care, assisted living, hospice, and skilled nursing care. It is estimated that two out of five Americans will need long-term care at some point in their lives. The vast majority of people using long-term care services are senior citizens.

Topics: Healthcare Kalorama Information Industry Insights

Market Trends for Locks, Safes, and Vaults

The mechanical security industry, including locks, safes, and vaults, will grow 5.4 percent annually through 2020 to $6.1 billion. The large lock segment accounted for 72 percent of industry demand in 2015 and will drive growth. The recovering construction industry will support demand, while ongoing shifts to higher value electrified products, particularly door locks and door security hardware that are used with electronic access control systems, will assist gains, too. The need for electrified versions of mechanical security products will continue to rise as access control and other such systems are installed at more entry points. The newly published study Mechanical Security Products further discusses the markets.

Topics: House & Home Industry Insights The Freedonia Group

4 Influential Food Trends to Watch in 2016

In the past several years, the foodie movement in the U.S. has grown tremendously. One of the biggest crazes restaurants and retailers have seen is the desire for new and exciting food products and experiences. But which top food trends are American consumers seeking in 2016?

With help from industry expert Packaged Facts, we have written a blog post focusing on four key food trends that are driving the industry this year. Read on to learn how these trends are shaping consumer preferences.

Topics: Food & Beverage Packaged Facts

Demand for Battery Materials to Reach $46.8 Billion in 2019

The global demand for battery materials is projected to increase 8.3 percent per year to reach $46.8 billion in 2019, according to a new report by the Freedonia Group. A variety of factors are contributing to the growing demand, including the proliferation of mobile phones and tablets, the rising use of motor vehicles in developing countries, and the increasing production of hybrid and electric vehicles.

Batteries are manufactured using a broad range of materials. The major types are metals, chemicals, polymers, carbon and graphite, silicas, glass fibers, paper, rubber, and ceramics. Globally, metals accounted for 66 percent of materials demand in 2014, due to the large volumes of lead, zinc, steel, and nickel used in the battery industry. Read on to learn more about the market for battery materials and what changes analysts expect to see in the coming years.

Topics: Energy & Resources Industry Insights Heavy Industry The Freedonia Group

How to Run Focus Groups for Kids

First get into child mode! This is your opportunity to shut the lid of your laptop, close your eyes, and use your imagination. Find your inner child. You cannot approach kids research in the same way as you do an adult project.

Let’s assume you are researching a toy. Imagine you are a child playing with that toy. Step into their shoes and imagine the scene. Who are you playing with, are you on your own, with a sibling, a friend, mum or dad? Where are you? In your room, in the lounge, or playroom, outside? What are you doing with the toy, what game are you playing? Are any other toys involved? Hover above the scene. How old are you? What’s this toy giving you? What could make it even more fun?

Topics: Market Research Strategy Retail How To's

The Glorious Graying of American Consumers Circa 2020

Go ahead Baby Boomers, make my decade. In fact make everyone’s decade. No really, we need you to. We’re counting on it because frankly our retail infrastructure may not survive without you. Yeah, yeah, Millennials are the future and Generation Xers are doing their part to build on the foundations paved by previous generations, but you Boomers still have the economic Midas Touch. Looking ahead even four years into the future, it’s evident that as go Boomers so goes America.

Travel with me if you will to the year 2020 — no DeLorean time machine necessary (my apologies to Marty McFly and Doc Brown). A sliver of clairvoyant market research courtesy of Packaged Facts’ American Consumers in 2020 is all we need for the journey.  

Topics: Demographics Packaged Facts Industry Insights

5 New Education Apps and Online Platforms

In the next four years, the global market for mobile education is expected to grow at a compound annual growth rate of 21 percent, according to a report by TechNavio – Infiniti Research. With rising adoption of tablets and mobile devices, education tools are becoming increasingly digitized. A variety of new education apps have the potential to improve learning outcomes and help educators engage their classroom more effectively, but the market is already highly competitive. Large companies like Adobe and Blackboard dominate the industry, and high upfront costs often present a barrier to entry for new players.

Even so, a variety of new companies have appeared on the scene in the last several years — with a mission to revolutionize the way students learn, apply to college, and take classes. To find out about a range of new educational apps and online platforms, check out this post.

Topics: Software & Enterprise Computing Education Industry Insights

The Growing Demand for Drug Delivery Products

The U.S. demand for drug delivery products is projected to reach $251 billion in 2019, according to the Freedonia Group, a leading international business research company. Oral dosage formulations will remain the largest-selling group of drug delivery products over the long term, but patent expirations and competition from generic brands will soften the growth potential of this product segment overall. Drawing on key findings from Freedonia's recent study Drug Delivery Products, here’s a look at the market outlook for oral medications, including controlled-release formulations and niche applications.

Topics: Pharmaceuticals Healthcare Industry Insights The Freedonia Group

How to Sell Your Idea to Senior Management

You have an idea you know will work, but how do you convince other people in your organization to get on board? Getting buy-in from key stakeholders can often be challenging, even if your idea has clear benefits. In an experiment highlighted in the Harvard Business Review, managers were more likely to discard the very same ideas that made customers excited.

Innovative ideas can seem unfeasible at first, especially if they entail large-scale changes that will alter the status quo. But by doing your homework and gathering the right evidence to support your thesis, you can make a much more persuasive case and increase your chances of being heard. Using third-party analysis and industry data is essential to making a rational, defensible argument — and that’s where market research can help take your pitch to the next level.

Topics: Market Research Strategy How To's