#MRW: Major trends disrupting market research execution & delivery
Cheryl Hunter (research at marklives.com)’s weekly wrap of the latest market and consumer research:
- Market research trends
- Controlling crises
- Parenteral packaging
Disrupting market research
In a new white paper released this week, global market research company, Euromonitor International, has identified four key trends that should impact market research through 2030, making it more complex, requiring new technologies for streamlining data collection and analysis, and freeing up time for higher-level problem-solving and storytelling.
“Four Global Trends Disrupting Market Research” identifies automation and do-it-yourself (DIY) tools; big data; transparency and trust; and redefining the partnership role as the major trends disrupting market research execution and delivery. Says Zandi Brehmer, Euromonitor International head of client innovation, “New tools, inputs and best practices will blur with increased use of market research to speed decision-making and stay competitive.”
Automation and DIY tools will help deliver on-demand insights, eliminating manual work for researchers and allowing clients to explore data independently. Big data integration will shift the market-research process from capturing the “what” to determining the “why”. Increased access to new data sources means transparency in data collection and methodology is imperative to become a trusted partner where researchers educate clients and work toward actions beyond solely insights.
Download a free copy at Euromonitor International (registration required).
A brand crisis is a given
A new report from global research and advisor company, Forrester, reveals that “Brands Forget The Rules Of Modern Marketing When Crisis Hits”, talking to B2C marketers who should be asking themselves not if their brand is at risk of a brand crisis, but when.
With more than half of the global Fortune 100 brands landing in hot water over the past three years, and 80% of the total market value of companies in the S&P 500 made up of intangibles such as brand value, a crisis can quickly undercut shareholder value.
Talking to trends that include polarised consumers, the convergence of mobile, social, and review technologies, and consumers reacting faster than brands can respond, the report deals with response mechanisms in detail.
Buy the report at Forrester.
Drug packaging moves away from plastic
The global market for parenteral packaging is set to witness significant growth in the next 10 years, exceeding US$16bn by the end of 2028, as estimated in a study by market research firm, Future Market Insights.
Sustainability is the buzzword here, with manufacturers steadfast in their focus on addressing environmental concerns; this probably explains the near-death of plastic as a preferred material for parenteral (injection or infusion) packaging, owing to environmental issues associated with the disposal of plastic parenteral packaging products.
Manufacturers of this type of product are slowly eliminating plastic from their ecosystem and shifting towards prefilled and ready-to-use containers, with glass as the most preferred packaging material, and this is expected to augment the usability of parenteral products in self-medication.
Technology is once again driving change, with advanced automation focusing on deploying high-quality, contamination-free processes. A strategic shift from manual to automatic packing lines is bringing in enhanced process efficiency and reducing dependency on manual labour, thereby creating pathways for cost-effectiveness in the long run.
Buy this report at Future Marketing Insights.
Cheryl Hunter (@cherylhunter) has written for the South African media, marketing and advertising industries for more than 15 years. A former editor of M&M in Independent Newspapers and contributor to Bizcommunity, AdFocus, AdReview and the Ad Annual, she has also produced for various television networks and currently consults on communication strategy and media liaison. She now does the new weekly “Market Research Wrap” column for MarkLives.com.
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