Market researchers are getting quite a pounding on Light Reading’s Research Poll this month. More than 250 people have already taken the survey, entitled Market Research: What's it worth?, and overall, their answer to this question appears to be “Not a Lot”.
Here are the highlights so far:
64 percent of respondents don’t think that market research companies deliver value for money.
44 percent of respondents say market forecasts “often prove to be completely wrong.”
46 percent of respondents think market share figures “need to be taken with a big pinch of salt.”
61 percent say market research firms “often employ heavy-handed sales tactics”
57 percent say market researchers are “not independent enough; the information they give may be influenced by their clients.”
A further 17 percent say they’re “a bunch of crooks: they write what they are told to by the people who pay them.”
Of course, market researchers themselves were free to take the poll, which might explain why a small proportion of respondents - 5 percent - said that market share figures were “usually spot on” and market forecasts were “near enough right”.
Only 2 percent of respondents went as far as claiming that market researchers were “completely independent and unbiased.”
re: Poll Slams Market Researchers You are on to something that needs to be discussed in the industry, the value of market reseach. However, your survey is so biased that it has to be taken with a pound of salt. You could do all of us a favor and save us some money by conducting a serious survey. At the same time, don't lose your editorial style of poking fun at topics.
By the way, don't try and pass off last month's article on Market Research as a ligitimate study.
re: Poll Slams Market Researchers Agreed. Some market research firms are hired guns. However, you guys are involved in the same business, except on a different level. If your readers can't see that, then you're business model is succeeding. Congrats!
re: Poll Slams Market Researchers they provided a real service by blowing the cover on the research bucket shops. Your lame attempts to paint LR with the same brush makes no sense in that they're a journalistic organ and not a self-annoited research whatever. If there are any aspiring "research analysts" out there, here's a project to whet your teeth on: Track the extrapolations for what is probably the dumbest idea of the late/great boom,namely voice over DS == VoIP. I just came across "study" that was quoted in some trade rag accompanying a 3Com press release/article that actually stated there would be $6 billion in revenue for this category in 2006!!!! Now I guess one can't blame a third rate outfit like 3com for paying for this horseshit,but what's with the journalistic standards of the techie trade press that their editors allow their butt-lazy writers to pad their articles with it? Kudos to LR,lets hope Forbes, Business Week, et al pick up on it.
re: Poll Slams Market Researchers In technology markets, the term "market research" is used very broadly. Too broadly. It often groups industry analyst firms (Gartner, IDC, etc) with market research firms (those that actually survey real custoemrs). I am biased, but I hope what your poll really reflects is skepticism about the accuracy of hockey stick forecasts coming from firms that are basing their predictions on vendor-reported shipments. I believe that most people find research based on actual customer survyes more objective and reliable.
Yes, I work for a market research firm--the kind that does surveys.