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The Future of the Market Research Industry: An Insider’s Perspective Presented by: Don Mills President & CEO Corporate Research Associates Inc. June 11,

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Presentation on theme: "The Future of the Market Research Industry: An Insider’s Perspective Presented by: Don Mills President & CEO Corporate Research Associates Inc. June 11,"— Presentation transcript:

1 The Future of the Market Research Industry: An Insider’s Perspective Presented by: Don Mills President & CEO Corporate Research Associates Inc. June 11, 2009

2 Challenges in the Industry  Dealing with tough economic conditions  Adapting to a shrinking market at the same time  Demonstrating the value of research to clients  Enhancing the reputation of our industry  Ensuring the integrity of our industry  Continuing the professionalization of the industry  Addressing employee recruitment and retention issues  Maintaining high standards in business practices and ethics  Advancing the art and science of our profession  Responding to cultural and technological shifts

3 Recommendations Here are some recommendations. First to MRIA: 1.Build, promote and protect the reputation of our profession 2.Continue to advocate to protect our ability to do our work 3.Look beyond our industry for new ideas 4.Promote more research on research to advance the profession 5.Work with academic institutions to develop post-secondary educational programs dedicated to our profession

4 Recommendations Here are five more recommendations for suppliers: 1.Invest more effort in the conduct of research on research 2.Implement human resource management practices to recruit and retain employees 3.Adopt a culture of innovation, especially with clients willing to take risks to advance the practice of research 4.Increase your value proposition to clients by focusing more of the outcomes important to those clients 5.Develop hybrid methodologies to address changing cultural and technological realities

5 Recommendations And finally, five recommendations from a client perspective: 1.Participate in helping to build the reputation of this industry by promoting the social value of our research to your customers and stakeholders 2.Treat suppliers more like a strategic partner and less like a commodity supplier 3.Be prepared to pay a fair price for the work needed rather than compromising the research 4.Become more active in the industry 5.Invest in new research techniques and methodologies to advance our profession

6 The Future of the Market Research Industry: An Insider’s Perspective Presented by: Don Mills President & CEO Corporate Research Associates Inc. June 11, 2009


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