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20 Top Market Research Companies (2024)

Self-serve market research are helpful when you need answers fast.

But a market research company can be a great asset when you need data on a more personalized or granular level.

The data collected by a top market research firm can help you optimize your product marketing, communications strategy, customer experience, online user experience, and more.

From completely bespoke services to expert reporting on the topics that matter most to your audience, these are 20 of the best consumer and B2B market research companies.

Ipsos is a market research company that connects businesses with online communities.

When you work with Ipsos, you'll be matched with a community of people that share traits with your ideal customers. These similarities help you figure out what your ideal customer or user may respond to.

Ipsos’ wide range of services covers multiple industries, including retail, healthcare, transportation, politics, and automotive.

With Ipsos, you can do things such as:

• Assemble custom panels of consumers
• Record interviews and mystery shopper journeys that document retail experiences
• View reports about key consumer insights and demographics
• Run brand, packaging, and product testing
• Conduct message testing for public affairs projects
• Develop studies measuring the quality of healthcare and patient satisfaction
• Engage in public opinion polling

You can also work with an Ipsos strategist to get further insights about your market.

Ipsos recruits its panel and community members through a variety of advertising channels, and participants aren’t paid for their involvement. Instead, members receive points they can later redeem for prizes.

Because Ipsos services are so customizable, you’ll need to get in touch with their sales team to discuss your needs and receive a price quote.

2. Edelman DXI

Edelman Data & Intelligence (DXI) provides its customers with insights related to their target markets, customer behaviors, and broader economic trends .

The company is part of the Edelman global communications firm. By working with their DXI unit, you can get help with:

• Social listening and analysis
• Competitive market analysis
• Content auditing
• Paid media planning
• Risk forecasting
• Workforce analytics

Edelman DXI has offices throughout the world, so they can provide insights across a wide variety of global markets and audiences.

Because Edelman DXI services will be unique to each client, you’ll need to get in touch with the company to learn more about how much it will cost to become a client.

3. Exploding Topics

Exploding Topics is an alternative to traditional market research firms.

Rather than relying on a small panel sample or audience group selected by a firm, you can glean insights from what might be the world’s largest repository of consumer wants, needs, and insights: the internet.

First, we use artificial intelligence (AI) to listen to conversations happening across:

• News outlets
• Social networks

Next, our data analysis experts use this information to help identify the top market trends, topics, brands, and technologies that interest consumers and businesses today.

We enter these findings into our searchable database—and use it as the basis for insightful, actionable reports that break down the top trends you need to know about right now.

Our data stretches back 15 years and covers over 40 industries. Plus, it’s updated every day—so you always have fresh insights to work with.

Whether you rely on our reports or prefer to search the database yourself, you can use Exploding Topics data to support your:

• Entry into new markets
• Product development
• New marketing strategies
• Startup investing
• Competitor acquisition
• New business formation

You can access some of our trend data and reports for free right now. For complete access to every Exploding Topics data point and report—including our Meta Trends feature that shows how trends intersect—you’ll need a paid Exploding Topics Pro plan.

It’s just $1 for the first two weeks of your Exploding Topics Pro membership, and as little as $39 per month (billed annually) after that.

Gartner ’s market research services overlap with those offered by Ipsos, but cover a few additional industries including education, energy, and finance.

As a Gartner customer, you can:

• Review prepared reports
• Engage in personalized consulting services
• Attend industry events

The data gleaned from these reports and activities can help your company enhance its internal business operations as well as improve consumer-facing products or campaigns. Gartner’s information can be useful for:

• Understanding how to best position your brand
• Improving project strategy development and decisions
• Estimating tech lifecycles and improving corporate purchasing
• Evaluating your top market competitors
• Developing a more sustainable business strategy
• Determining how AI may impact your business
• Preparing for economic changes
• Improving your company’s market share

Some of Gartner’s reports are available for free on their website. That way, you can get a taste of what the company offers. If it seems like the right fit for your needs, you’ll need to get in touch with the Gartner team to get a price quote.

5. IMS Marketing

IMS is a full-service marketing agency—but they offer a market research arm to help B2B clients better understand how to position their brand and products.

Their customized services can help with:

• Understanding customer feedback
• Testing the feasibility of a new product or market
• Analyzing the competitor landscape
• Creating market segments
• Researching new audience groups
• Identifying and improving brand perception
• Pinpointing gaps in existing or prior research attempts

IMS Marketing is like Edelman DXI in that its services are entirely bespoke—the company doesn’t offer prepared reports like Gartner or Exploding Topics.

You can only become an IMS client after meeting with the company and allowing them to get a full understanding of your business, market, and objectives. 

6. Forrester

Forrester is a market research firm that provides insights for business, government, and technology operations.

While B2C businesses can use Forrester, a lot of the firm's data is especially valuable for B2B markets.

You can use Forrester insights to:

• Explore what business customers need and want
• Develop your tech stack to keep pace with competitors
• Prepare for supply chain and development challenges
• Review prepared sales strategy templates
• Discover competitor weaknesses

Forrester offers advisory services and access to data-rich reports, so you can choose whether you’d like to take a more self-directed approach or have hands-on help.

A single Forrester report may cost $1,000 or more, and advisory services are custom quoted based on your needs. Anyone interested in working with Forrester directly will need to get in touch with their sales team to discuss options.

Kantar offers market research services for a range of B2C industries, including consumer packaged goods (CPG), fashion, hospitality, retail, and technology.

Kantar’s research solutions include:

• Collection of qualitative consumer data in over 80 global markets
• Customized research surveys with panels prepared from a network of over 150 million respondents
• The development of healthcare professional and patient panels
• Expert survey design

The company also offers Kantar Marketplace, a do-it-yourself market research platform that lets users guide their own data collection and analysis efforts.

Marketplace access is available on either a pay-per-use plan or with an annual commitment starting at $50,000.

You can’t sign up on the Kantar website, though—for access to Marketplace as well as bespoke Kantar research services, you’ll need to get in touch with their sales team.

8. Bellomy Market Intelligence

Bellomy Market Intelligence is a consulting firm that works with retail, healthcare, financial, technology, energy, and consumer goods businesses.

Like several of the other market research firms on this list, Bellomy offers its clients access to panels of consumers that meet relevant B2B or B2C audience criteria.

You can then use these panels to:

• Run quick polls with rapid response times
• Host open-ended discussions to collect feedback
• Create ongoing focus forums for asynchronous discussions
• Watch as a Bellomy moderator leads members of your panel in an online chat
• Conduct one-on-one, in-depth interviews
• Track consumer behaviors and motivations with repeated daily online surveys
• Host in-person focus groups and retail events to collect data

Bellomy then uses AI tools to help its clients glean insights from qualitative and quantitative research results.

As with many other market research groups, you’ll need to get in touch with Bellomy to learn more about its available services and prices.

Campos is a market research firm focused on branding, product development, and customer experience data.

Campos works with corporations and public institutions seeking a rebrand. Its services overlap with those provided by IMS and Bellomy, and include:

• Product pricing research
• Consumer segmentation and analysis
• Demand forecasting
• Focus group creation
• In-depth interviews for customer journey mapping
• In-store observations

Unlike many research firms that conduct most of their analysis online—such as through video interviews and web-based simulations—Campos specializes in face-to-face analysis.

The company maintains a research center in Pittsburgh, where they're able to:

• Assemble and interview large panels
• Host software usability testing sessions
• Create model stores and homes for interaction testing
• Run mock jury simulations

Campos clients may watch the studies in action through two-way mirrors or view a live stream of research activities. The firm can also arrange for similar in-person experiences at partner locations around the U.S.

Campos services are based on scope and need, so you'll need to get in touch with the firm if you're interested in working with them.

10. Matrix Sciences

Matrix Sciences is a research and testing firm for agriculture and food brands.

The company's research arm conducts studies to discover consumer opinions around food products. They deliver a mix of quantitative and qualitative data through processes like:

• In-home product usage analysis
• Whole-household evaluations and interviews
• Panel discussions and interviews about food products or ideas
• Studies around how product packaging stands out in stores

Matrix Sciences also maintains a panel of expert sensory researchers who provide research and feedback around how a food item may be perceived. This process considers a product's:

• Visual appearance

Like Campos, much of Matrix Science's research happens in-person. The firm maintains 14 testing locations in the U.S. and Canada.

Prospective customers must get in touch with the company to discuss tests, options, and pricing.

Knit is an AI-powered research platform that quickly delivers panel data and analysis to clients.

You can use the tool to conduct qualitative and quantitative research. Tell Knit what you need, and the platform will assemble a panel from their database of over five million consumers.

Knit panelists range from 13 to 65 years old and are verified as real through a process involving both video and AI-generated questions.

Panelists can answer questions via video or survey form, depending on how the Knit study is set up.

You won't have to watch hours and hours of video, though. Knit uses GPT-4 to analyze these recordings and create:

• Video summaries
• Quick takeaways
• Key theme summaries
• Highlight reels

The platform also includes an AI research assistant that can answer questions about the data you get from Knit.

YouGov is a public opinion polling service.

The company offers opinion polling data for free on its website. These free data sets cover public opinion on topics related to:

• Business and economy
• Digital technology and media
• Entertainment, arts, and culture
• Health and science
• International affairs
• Politics and current affairs
• Travel and transport

You can dig down into each area of interest to learn about people's thoughts on specific people, brands, events, and more.

YouGov also provides data about survey respondents' habits. For example, they provide data on Americans' typical hours of sleep per night:

[ss of " How many hours of sleep do Americans actually get in a night?" chart from https://business.yougov.com/content/48919-52-of-americans-say-they-sleep-7-hours-a-night-but-many-want-even-more-time-in-bed ]

The ability to sift through all of YouGov's collected polling data may be enough for some users. If not, the company offers self-serve surveys, prepared surveys, and even custom research solutions for paying customers.

By working with YouGov, you can survey 26 million panelists living in 55 markets.

Because the company offers several bespoke solutions in addition to its free data, you'll need to set up a call with YouGov to learn more about options and pricing.

13. Fieldwork

Fieldwork is a qualitative market research firm offering solutions for focus groups.

You can engage Fieldwork to run a consumer focus group at their facilities throughout the U.S., your office, or another location around the world. Online focus groups are also an option for Fieldwork customers.

Fieldwork's support for medical and legal testing sets them apart from some other market research firms on this list. The company maintains permanent and portable medical simulation labs, and can also support:

• Medical device testing for FDA approval
• Medical device usability testing
• Mock jury research
• Trial simulations

If you're interested in working with Fieldwork to run a focus group, you'll need to submit a request for proposal through the company's website.

14. Kadence

Kadence is an international marketing and scientific research firm.

The company offers research services that can help you:

• Better understand customer preferences
• Improve market segmentation
• Plan the best way to enter a key market
• Streamline retail shopping experiences
• Evaluate how well marketing assets resonate with customers
• Assess brand metrics
• Find new market opportunities

Kadence conducts their research in several ways, including through:

• In-person focus groups
• Phone interviews
• Online communities
• In-person testing

They even offer sensory research and testing that's guided by neuroscience. This includes measuring eye movements and brain states when evaluating the reaction to a marketing campaign.

Kadence maintains offices in 13 countries. If you're interested in working with the Kadence team, you'll need to get in touch to request a price quote.

15. Second to None

Second to None provides mystery shopping services and conducts customer experience research.

You can work with the firm to conduct primary market research campaigns. These include:

• Customer surveys
• Brand reputation research
• Online community feedback
• Online and in-person mystery shopping

Second to None offers solutions for both B2C and B2B brands in a variety of industries including:

• Foodservice
• Financial service
• Consumer products and services
• Retail sales

Like many of its competitors, Second to None doesn't publish its pricing online. If you think the company's services are the right fit for your brand, you'll need to request an initial consultation with the firm.

16. Civicom

Civicom is a market research services group offering online and offline options.

The company can facilitate a variety of market research projects, including:

• Online focus groups
• Recorded in-person panels
• Mock jury trials
• Usability testing
• Hybrid online and in-person focus groups

Civicom also offers its own AI-powered report generation tool called Quillit . Civicom's clients can use Quillit to create summaries, produce research reports, and format documents. The tool is GDPR and HIPAA compliant, too.

The company's ability to conduct hybrid focus group sessions is notable—if you aren't sure what kind of market research work you need, Civicom is a good place to start.

You'll need to call, email, or chat with Civicom team members online to learn more about options and pricing.

17. Cascade Insights

Cascade Insights is a custom market research firm for B2B technology companies.

Cascade Insights works with companies that produce a product or service related to:

• Generative AI
• Cybersecurity
• Internet of Things (IoT) devices
• Computer hardware
• IT infrastructure

You can work with Cascade Insights to learn more about your ideal B2B customer through several types of market research services including:

• Customer experience research
• Product research
• B2B marketing and sales enablement research

Unlike some of its competitors, Cascade Insights continues to support its customers beyond the handoff of research findings. Every report comes with a plan for implementing the firm's findings.

The company also provides additional optional consulting and support services including strategy mentorship, marketing audits, and done-for-you marketing content.

If you're interested in working with Cascade Insights, you'll need to get in touch with the company to request a consultation and price quote based on your market research goals.

18. C+R Research

C+R Research is a qualitative and quantitative market firm delivering customer insights.

The firm serves a variety of consumer companies, including those focused on:

• Food and beverage
• Consumer packaged goods (CPG)
• Consumer equipment
• Financial services
• Media and telecom

The company provides support for their clients through qualitative, quantitative, and agile research services including:

• Advertising tests
• Package tests
• Pricing analysis
• Customer satisfaction surveys
• Research panels and focus groups
• Online discussions
• In-depth interviews

C+R Research can also provide support for audience segmentation, customer journey mapping, and workshop facilitation.

If you're part of a consumer-focused brand and are interested in C+R Research services, you'll need to contact the firm to schedule a consultation.

Radius is a data science company focused on consumer research.

The company conducts more than one million quantitative surveys and 3,000 qualitative research sessions every year across 60+ countries. Radius conducts different types of research, including:

• Choice-based analysis
• Targetable segmentation
• Perceptual mind mapping
• Maximum difference scaling (MaxDiff)

The company applies these different techniques to research activities like:

• Retail shopping analysis
• Virtual and augmented reality experiences
• Ideation workshops
• Consumer chats
• Immersive insight sessions

Radius also says that it develops projects using a customized mix of non-traditional approaches—so if you've found it difficult to get the right research for your brand, Radius is worth a closer look.

To learn more about the company's techniques and methods, you'll need to contact the Radius team and schedule an initial meeting.

20. Corona Insights

Corona Insights is a bespoke market research services firm.

Like Cascade Insights, Corona works with its clients to develop a complete plan of action. This may entail:

• Identification of research needs
• Development of a research plan
• Execution of market research activities
• Review of findings
• Development of action plans

The company's primary and secondary data research services are broad, and include:

• Scientific surveys
• Online and in-person focus groups
• Statistical analysis
• Observational research
• Journey mapping
• Literature reviews
• User experience (UX) testing
• Econometrics

The company offers multilingual research, too. Coupled with the breadth of options, this makes Corona Insights a good fit for many companies across different industries and regions.

Potential clients must contact Corona Insights via their website to learn more about market research costs and services.

If you want a custom research solution, it's best to explore working with a market research consulting firm like Ipsos, Kantar, Corona Insights, or Radius.

For more self-directed or self-paced market analysis , tools like Exploding Topics and Knit might be a better fit.

Make sure that the tool you choose has the industry data, panelist profiles, or research approach you need to get the most accurate data for your company. With insights from the right market research agency, you'll be able to accurately and effectively improve strategy, product development, and more.

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The 2018 AMA Gold Top 50 Report

Diane Bowers

Jack Honomichl, who in 1974 was the research beat reporter for Advertising Age, first published the Top 10 Report of U.S. Research Companies in Advertising Age.

The industry and this report have changed and grown substantially in 45 years, but there are many long-established and respected research institutions (some whose names have changed) included in this report that reflect the tradition as well as the transformation of our storied industry. 

The total research revenue for the top 50 companies in 2017 was $24.08 billion. More than 46% of that revenue, $11.24 billion, was generated in the U.S. while more than 53%, $12.83 billion, was generated outside the country. 

The total market research industry, represented by the top 50 and 148 full-service companies comprised by the Insights Association (the national association of the marketing research and analytics industry, which was formed through the 2017 merger of Council of American Survey Research Organizations (CASRO) and Marketing Research Organization (MRA)), is valued at a total worldwide revenue of $25.55 billion ($12.34 billion of which was earned in the U.S. and $13.20 billion of which was earned outside the country).

In early 2018, invitations to participate in the annual top 50 ranking of U.S. research companies were sent to about 75 companies whose annual U.S. revenue was estimated to be about $15 million. These companies were asked to submit their 2017 research revenue figures for inside and outside the U.S., as well as the comparable data for 2016, to determine the annual rate of revenue growth or decline of each. If a firm made an acquisition or divestiture during 2017 or 2016, we made adjustments to ensure an apples-to-apples comparison.

U.S. Growth Rate in 2017

The growth rate for the top 50 companies in the U.S. market in 2017 was 3.4%. 

The growth rate for the 198 companies included in the report was 3.5%. After adjustment for inflation—Consumer Price Index (CPI) of 2%—the real-growth rate for 2017 is 1.5%. This is a substantial decrease in growth as compared to the previous two years, when the growth rate reported for all of the companies included in the report was 5.7% (4.4% real growth) in 2016 and 4.8% (4.7% real growth) in 2015. 

Figure 1 compares the reports from 2010 to 2017, showing the slow and intermittent recovery from the recession, followed in 2015 and 2016 by a significant increase of more than 4% in the industry’s real-growth rate.

We can also look to the U.S. gross domestic product as another benchmark. In Figure 2, the annual U.S. GDP shows the yearly growth of the estimated value of all the country’s produced goods and provided services. As previously reported, the U.S. research industry’s annual growth rate has historically tracked ahead of the annual GDP real-growth rate, except during the recession of 2009 and in 2012. The U.S. research industry’s growth rate exceeded the GDP growth rate by 2% in 2015 and in 2016 doubled that figure to 4%. In 2017 the U.S. research industry is tracking slightly ahead of GDP at 1.2%.

Global Growth Rate in 2017

The growth rate of the top 50 companies’ global revenue in 2017 was 3.7%, slightly higher than the 3.4% growth rate for U.S. revenue. The total non-U.S. revenue for the top 50 companies continues to be greater than their total U.S. revenue. In Figure 3, the non-U.S. revenue for the top 50 companies represents 53.3% of the total 2017 revenue. One significant reason for this global focus is that almost one-fourth of the top 50 companies are headquartered in other countries. Seven are headquartered in the U.K.—Cello Health, dunnhumby, Informa Financial Intelligence, Kantar, Nielsen, Wood MacKenzie and YouGov—and two are headquartered in France—Ipsos and PRS IN VIVO. GfK is headquartered in Germany. Macromill is headquartered in Japan, and Maru/Matchbox is headquartered in Canada. 

It is interesting to note that almost 20% of the top 50 companies are not engaged in any international research, although this number has decreased since 2010.

The Employment Picture

In 2017 the number of full-time U.S. employees working for the top 50 companies was 38,890, an increase of 5.8% from the previous year. The U.S. average revenue earned per full-time employee in 2017 was $287,000. 

Changes in Top 50 List

New This Year  

There are five new companies on the list.

• At No. 7, comScore rejoins the top 50 after not participating last year. ComScore is a global, multiple-platform measurement company that specializes in media planning, audience measurement and segmentation and competitive intelligence. 
• At No. 11, Forrester Research Services is the research and analytics division of Forrester, a global research and advisory firm that works with business and technology leaders to develop customer-centric strategies that drive growth. 
• At No. 31, FocusVision is a survey research, reporting and analytics company that also provides live video, digital qualitative research and research technology solutions to U.S. and global clients.
• At No. 41, ScreenEngine/ASI is a market research and information company that specializes in and serves the entertainment industry, focusing across the four screens: movies, television, computers and mobile.
• At No. 47, Edelman Intelligence is a boutique and global research and analytics consultancy that helps organizations and businesses measure markets, environment and audience to improve impact and outcomes. 

Not Here This Year

There are five former top 50 companies that are not on the list this year. Abt Associates, MarketCast, Service Management Group and Simmons Research chose not to participate in the report this year. Acturus was acquired by Macromill.

2017 Top 50 Revenue Increases and Decreases

Figure 4 compares U.S. revenue increases and decreases for the top 50 companies for the past three years. 

In 2017, one-fifth of the companies reported double-digit increases in year-over-year revenue, with an average increase of 18.6%. Of the companies that experienced double-digit growth, three achieved 20% or more year-over-year growth in 2017. 

• SSRS, a social science, public opinion and policy research company, recorded a 33.2% increase. 
• Edelman Intelligence, a global research and analytics consultancy, grew by 28.1%. 
• YouGov, an international data and analytics company, increased its 2017 revenue by 21.6%. 

Nearly half of the top 50 companies reported that revenue was flat or decreased in 2017, averaging a 4.7% drop. One-third of the top 50 companies reported single-digit increases in year-over-year revenue, averaging 5.5% growth. The number of companies with single-digit increases has remained stable over the past three years. The greatest swing, particularly from 2016 to 2017, has been the decline of double-digit increases in year-over-year revenue and the corresponding rise in companies whose year-over-year revenue decreased in 2017. 

Companies Moving Up Three or More Positions: 

• Cello Health plc (up eight positions from No. 42 to No. 34) combines health insight, consulting, communications and digital capabilities.
• SSRS (up six positions from No. 39 to No. 33) is a social science, public opinion, and policy research company.
• Informa Financial Intelligence (up five positions from No. 22 to No. 17) is a research, analysis and intelligence company for the financial industry.
• Macromill (up four positions from No. 29 to No. 25) is a global provider of online panel research and market and consumer insights.
• YouGov (up three positions from No. 27 to No. 24) is a national and international data and analytics company. 
• Gongos (up three positions from No. 45 to No. 42) is a decision intelligence and customer experience company.

The addition of comScore to the top 10 and the absence of Abt Associates change the composition of this year’s top 10, and the lineup has changed slightly. 

Three companies moved down one position to accommodate comScore’s No. 7 position in the top 10:

• At No. 8, GfK, which leads the list with the largest percentage of non-U.S. revenue at almost 82%, provides market research, data science, technology and knowledge to support business clients around the globe.
• At No. 9, The NPD Group combines its information assets, analytic solutions focused on market forecasting and expertise in more than 20 industries to help clients measure, predict and improve.
• At No. 10, ICF is a global consulting services provider with 5,000 professionals designing and implementing complex research projects for national and international government agencies, universities, nonprofits and commercial organizations.

The top six companies have maintained their positions in the lineup.

• At No. 6, Westat is a 100% employee-owned professional services firm providing statistical, behavioral, employment and social policy research as well as evidence-based evaluations and solutions for government agencies, foundations and commercial businesses.
• At No. 5, Ipsos provides strategic research, digital platforms, Big Data analytics and advisory services. Ipsos in the U.S. has centers of expertise in data science, neurosciences and behavioral sciences at Duke University, Yale University, Massachusetts Institute of Technology and Stanford University.
• At No. 4, IRI’s five key areas of expertise are market performance and strategy; consumer and shopper intelligence; media; analytics and retail execution; and data management, cloud and software solutions.
• At No. 3, Kantar, WPP’s data investment management division, has nine operating brands, each respected in its particular sphere of expertise: Kantar Consulting, Kantar Health, Kantar IMRB, Kantar Media, Kantar Millward Brown, Kantar Public, Kantar TNS, Kantar WorldPanel and Lightspeed.
• At No. 2, IQVIA, formed through the 2016 merger of Quintiles and IMS Health, is a global provider of information, innovative technology solutions and contract research services helping health care clients find better solutions for patients. 
• At No. 1, Nielsen is a global media and consumer measurement company, utilizing technology and digital capabilities and platforms to develop a comprehensive understanding of what consumers watch and what they buy.

The top 10 companies’ total 2017 revenue of $20.37 billion represents nearly 80% of the total 2017 revenue for all 198 companies included in this year’s report. Nielsen accounts for 25% of the total 2017 revenue for all of the 198 companies. The top 10 companies represent 73.5% ($9.07 billion) of the total U.S. revenue and 85.6% ($11.30 billion) of the total non-U.S. revenue for all of the 198 companies in this year’s report. 

Methodology

Invitations to marketing research firms with estimated revenue greater than $15 million are sent in February of each year requesting revenue information for the prior calendar year, and for the year preceding to assess the growth rate. Other company data are also requested, including a description of the company’s management, services, specializations, etc. Top 50 rankings are based on U.S. revenue. The rate of growth from year to year has been adjusted to account for revenue gains or losses from acquisitions or divestitures. Verification of revenue is required of each private firm for ranking by a third party, generally it’s an outside accounting firm. 

The Insights Association and AMA have been working cooperatively with Michigan State University’s Research Transformed Collaborative under the leadership of Michael Brereton, adjunct professor at the Broad School of Business at MSU. We owe a special thank you to Brereton and Michigan State University for their support and for providing the Qualtrics platform for hosting the Top 50 questionnaire. We will continue to collaborate with our national and international association colleagues, especially the other national research associations in the Global Research Business Network (GRBN), as well as with ESOMAR. 

For further information, contact Diane Bowers at [email protected].

1.  Nielsen  

• Founded: 1923
• 2017 U.S. Revenue: $3.73 billion
• Percent Change from 2016: +2.9%
• 2017 Non-U.S. Revenue: $2.84 billion
• Percent from Outside U.S.: 43.2%
• 2017 Worldwide Revenue: $6.57 billion
• U.S. Employees: 10,149 

2.  IQVIA † 

• Founded: 2016
• 2017 U.S. Revenue: $1.43 billion
• Percent Change from 2016: +5.3%
• 2017 Non-U.S. Revenue: $2.03 billion
• Percent from Outside U.S.: 58.7%
• 2017 Worldwide Revenue: $3.46 billion
• U.S. Employees: 5,525 

3.  Kantar † 

• Founded: 1993
• 2017 U.S. Revenue: $970 million
• Percent Change from 2016: -2.4%
• 2017 Non-U.S. Revenue: $3.02 billion
• Percent from Outside U.S.: 75.7%
• 2017 Worldwide Revenue: $3.99 billion
• U.S. Employees: 3,300 

4.  Information Resources, Inc. (IRI)

• Founded: 1979
• 2017 U.S. Revenue: $733.4 million
• Percent Change from 2016: +14.7%
• 2017 Non-U.S. Revenue: $416 million
• Percent from Outside U.S.: 36.2%
• 2017 Worldwide Revenue: $1.14 billion
• U.S. Employees: 1,746 

5.  Ipsos

• Founded: 1975
• 2017 U.S. Revenue: $569 million
• Percent Change from 2016: +0.2%
• 2017 Non-U.S. Revenue: $1.4 billion
• Percent from Outside U.S.: 71.2%
• 2017 Worldwide Revenue: $1.97 billion
• U.S. Employees: 2,191 

6.  Westat

• Founded: 1963
• 2017 U.S. Revenue: $551.1 million
• Percent Change from 2016: +10.1%
• 2017 Non-U.S. Revenue: $6.4 million
• Percent from Outside U.S.: 1.1%
• 2017 Worldwide Revenue: $557.5 million
• U.S. Employees: 1,877 

7.  comScore

• Founded: 1999
• 2017 U.S. Revenue: $332.3 million
• Percent Change from 2016: +4.9%
• 2017 Non-U.S. Revenue: $71.2 million
• Percent from Outside U.S.: 17.7%
• 2017 Worldwide Revenue: $403.5 million
• U.S. Employees: 1,478 

8.  GfK †

• Founded: 1934
• 2017 U.S. Revenue: $300 million
• Percent Change from 2016: -3.3%
• 2017 Non-U.S. Revenue: $1.35 billion
• Percent from Outside U.S.: 81.8%
• 2017 Worldwide Revenue: $1.65 billion
• U.S. Employees: 890 

9.  The NPD Group

• Founded: 1966
• 2017 U.S. Revenue: $289.4 million
• Percent Change from 2016: +11.7%
• 2017 Non-U.S. Revenue: $93 million
• Percent from Outside U.S.: 24.3%
• 2017 Worldwide Revenue: $382.4 million
• U.S. Employees: 1,100 

10.  ICF

• Founded: 1969
• 2017 U.S. Revenue: $170.6 million
• Percent Change from 2016: +4.2%
• 2017 Non-U.S. Revenue: $57.9 million
• Percent from Outside U.S.: 25.3%
• 2017 Worldwide Revenue: $228.5 million
• U.S. Employees: 1,028

11.  Forrester Research Services †

• Founded: 1983
• 2017 U.S. Revenue: $166.7 million
• Percent Change from 2016: +0.1%
• 2017 Non-U.S. Revenue: $49.8 million
• Percent from Outside U.S.: 23%
• 2017 Worldwide Revenue: $216.5 million
• U.S. Employees: 400

12.  Wood Mackenzie †

• Founded: 1973
• 2017 U.S. Revenue: $132.7 million
• Percent Change from 2016: —
• 2017 Non-U.S. Revenue: $312 million
• Percent from Outside U.S.: 70.2%
• 2017 Worldwide Revenue: $444.7 million
• U.S. Employees: 300

13.  DRG (Decision Resources Group) †

• Founded: 1990
• 2017 U.S. Revenue: $129.5 million
• Percent Change from 2016: +1.2%
• 2017 Non-U.S. Revenue: $51.3 million
• Percent from Outside U.S.: 28.4%
• 2017 Worldwide Revenue: $180.8 million
• U.S. Employees: 560

14.  MaritzCX

• 2017 U.S. Revenue: $124.4 million
• Percent Change from 2016: -3.2%
• 2017 Non-U.S. Revenue: $42.9 million
• Percent from Outside U.S.: 25.6%
• 2017 Worldwide Revenue: $167.3 million
• U.S. Employees: 574

15.  Lieberman Research Worldwide (LRW)

• 2017 U.S. Revenue: $107.8 million
• Percent Change from 2016: +16.8%
• 2017 Non-U.S. Revenue: $40.1 million
• Percent from Outside U.S.: 27.1%
• 2017 Worldwide Revenue: $147.9 million
• U.S. Employees: 534

16.  dunnhumby †

• Founded: 2001
• 2017 U.S. Revenue: $103 million
• Percent Change from 2016: -3.7%
• 2017 Non-U.S. Revenue: $355 million
• Percent from Outside U.S.: 77.5%
• 2017 Worldwide Revenue: $458 million
• U.S. Employees: 230

17.  Informa Financial Intelligence *

• 2017 U.S. Revenue: $102.4 million
• Percent Change from 2016: -1.3%
• 2017 Non-U.S. Revenue: $34 million
• Percent from Outside U.S.: 24.9%
• 2017 Worldwide Revenue: $136.4 million
• U.S. Employees: 484

18.  NRC Health  

• Founded: 1981
• 2017 U.S. Revenue: $99.6 million
• Percent Change from 2016: +9.3%
• 2017 Non-U.S. Revenue: $4.7 million
• Percent from Outside U.S.: 4.5%
• 2017 Worldwide Revenue: $104.3 million
• U.S. Employees: 413

19.  C Space †

• 2017 U.S. Revenue: $67.6 million
• Percent Change from 2016: +1.5%
• 2017 Non-U.S. Revenue: $17.8 million
• Percent from Outside U.S.: 20.8%
• 2017 Worldwide Revenue: $85.4 million

20.  Burke

• Founded: 1931
• 2017 U.S. Revenue: $67.3 million
• Percent Change from 2016: -5.3%
• 2017 Non-U.S. Revenue: $7.9 million
• Percent from Outside U.S.: 10.5%
• 2017 Worldwide Revenue: $75.2 million
• U.S. Employees: 263

21.  ORC International

• Founded: 1938
• 2017 U.S. Revenue: $67 million
• Percent Change from 2016: -12.1%
• 2017 Non-U.S. Revenue: $36 million
• Percent from Outside U.S.: 35%
• 2017 Worldwide Revenue: $103 million
• U.S. Employees: 231

22.  Market Strategies International

• Founded: 1989
• 2017 U.S. Revenue: $65.1 million
• 2017 Non-U.S. Revenue: $0.9 million
• Percent from Outside U.S.: 1.4%
• 2017 Worldwide Revenue: $66 million
• U.S. Employees: 270

23.  Convergys Analytics †

• Founded: 1998
• 2017 U.S. Revenue: $63 million
• Percent Change from 2016: +4.7%
• 2017 Non-U.S. Revenue: $8 million
• Percent from Outside U.S.: 11.3%
• 2017 Worldwide Revenue: $71 million
• U.S. Employees: 710

24.  YouGov *

• Founded: 2000
• 2017 U.S. Revenue: $56.3 million
• Percent Change from 2016: +21.6%
• 2017 Non-U.S. Revenue: $87.3 million
• Percent from Outside U.S.: 60.8%
• 2017 Worldwide Revenue: $143.6 million
• U.S. Employees: 182

25.  The Macromill Group​ * †

• 2017 U.S. Revenue: $49 million
• Percent Change from 2016: +8.9%
• 2017 Non-U.S. Revenue: $281.5 million
• Percent from Outside U.S.: 85.2%
• 2017 Worldwide Revenue: $330.5 million
• U.S. Employees: 275

26.  Morpace 

• 2017 U.S. Revenue: $48.8 million
• Percent Change from 2016: -12.2%
• 2017 Non-U.S. Revenue: $5.5 million
• Percent from Outside U.S.: 10.1%
• 2017 Worldwide Revenue: $54.3 million
• U.S. Employees: 210

27.  Market Force †

• Founded: 2005
• 2017 U.S. Revenue: $48 million
• 2017 Non-U.S. Revenue: $7 million
• Percent from Outside U.S.: 12.7%
• 2017 Worldwide Revenue: $55 million 
• U.S. Employees: 300 

28.  PRS IN VIVO *

• Founded: 1972
• 2017 U.S. Revenue: $46 million
• Percent Change from 2016: -4.2%
• 2017 Non-U.S. Revenue: $47 million
• Percent from Outside U.S.: 50.5%
• 2017 Worldwide Revenue: $93 million 
• U.S. Employees: 172 

29.  Directions Research

• Founded: 1988
• 2017 U.S. Revenue: $43.9 million
• 2017 Non-U.S. Revenue: —
• Percent from Outside U.S.: —
• 2017 Worldwide Revenue: $43.9 million 
• U.S. Employees: 144 

30.  Hanover Research

• Founded: 2003
• 2017 U.S. Revenue: $42.5 million
• Percent Change from 2016: +7.3%
• 2017 Non-U.S. Revenue: $2.4 million
• Percent from Outside U.S.: 5.3%
• 2017 Worldwide Revenue: $44.9 million 
• U.S. Employees: 332

31.  FocusVision †

• 2017 U.S. Revenue: $39.5 million
• 2017 Non-U.S. Revenue: $11 million
• Percent from Outside U.S.: 21.8%
• 2017 Worldwide Revenue: $50.5 million 
• U.S. Employees: 353

32.  Phoenix Marketing International

• 2017 U.S. Revenue: $37.4 million
• Percent Change from 2016: +9.4%
• 2017 Non-U.S. Revenue: $2.8 million
• Percent from Outside U.S.: 7%
• 2017 Worldwide Revenue: $40.2 million 
• U.S. Employees: 145

33.  SSRS * 

• 2017 U.S. Revenue: $36.9 million
• Percent Change from 2016: +33.2%
• 2017 Non-U.S. Revenue: $1.4 million
• Percent from Outside U.S.: 3.7%
• 2017 Worldwide Revenue: $38.3 million 
• U.S. Employees: 181

34.  Cello Health  plc * †

• Founded: 2004
• 2017 U.S. Revenue: $36.5 million
• Percent Change from 2016: +14.8%
• 2017 Non-U.S. Revenue: $94.8 million
• Percent from Outside U.S.: 72.2%
• 2017 Worldwide Revenue: $131.3 million 
• U.S. Employees: 260

35.  Radius GMR

• Founded: 1960
• 2017 U.S. Revenue: $34 million
• Percent Change from 2016: +3%
• 2017 Non-U.S. Revenue: $1 million
• Percent from Outside U.S.: 2.9%
• 2017 Worldwide Revenue: $35 million 
• U.S. Employees: 97

36.  Fors Marsh Group *

• Founded: 2002
• 2017 U.S. Revenue: $32.8 million
• Percent Change from 2016: +6.5%
• 2017 Worldwide Revenue: $32.8 million 
• U.S. Employees: 175

37.  Maru/Matchbox

• 2017 U.S. Revenue: $32 million
• 2017 Non-U.S. Revenue: $10 million
• Percent from Outside U.S.: 23.8%
• 2017 Worldwide Revenue: $42 million 
• U.S. Employees: 69

38.  MarketVision Research  

• 2017 U.S. Revenue: $31.9 million
• Percent Change from 2016: -8.3%
• 2017 Worldwide Revenue: $31.9 million 
• U.S. Employees: 135

39.  LRA, a Deloitte business

• 2017 U.S. Revenue: $30.7 million
• Percent Change from 2016: -22.3%
• 2017 Non-U.S. Revenue: $6.2 million
• Percent from Outside U.S.: 16.8%
• 2017 Worldwide Revenue: $36.9 million 
• U.S. Employees: 340

40.  Kelton Global  

• 2017 U.S. Revenue: $27.2 million
• Percent Change from 2016: +3.8%
• 2017 Non-U.S. Revenue: $7.2 million
• Percent from Outside U.S.: 20.9%
• 2017 Worldwide Revenue: $34.4 million 
• U.S. Employees: 94

41.  Screen Engine/ASI

• Founded: 2010
• 2017 U.S. Revenue: $26 million
• Percent Change from 2016: +18.2%
• 2017 Worldwide Revenue: $26 million 
• U.S. Employees: 83

42.  Gongos

• Founded: 1991
• 2017 U.S. Revenue: $24.6 million
• Percent Change from 2016: +16.6%
• 2017 Non-U.S. Revenue: $1.7 million
• Percent from Outside U.S.: 6.5%
• 2017 Worldwide Revenue: $26.3 million 
• U.S. Employees: 133

43.  The Link Group

• Founded: 1994
• 2017 U.S. Revenue: $24 million
• Percent Change from 2016: -9.1%
• 2017 Non-U.S. Revenue: $0.5 million
• Percent from Outside U.S.: 2%
• 2017 Worldwide Revenue: $24.5 million 
• U.S. Employees: 75

44.  NAXION † 

• Founded: 1911
• 2017 U.S. Revenue: $21.8 million
• 2017 Worldwide Revenue: $21.8 million
• U.S. Employees: 76

45.  Bellomy Research

• Founded: 1976
• 2017 U.S. Revenue: $19.7 million
• Percent Change from 2016: -0.5% 
• 2017 Worldwide Revenue: $19.7 million
• U.S. Employees: 125

46.  Chadwick Martin Bailey  

• Founded: 1984
• Percent Change from 2016: +4.8% 

47.  Edelman Intelligence  

• 2017 U.S. Revenue: $18.7 million
• Percent Change from 2016: +28.1% 
• 2017 Non-U.S. Revenue: $9.1 million
• Percent from Outside U.S.: 32.7%
• 2017 Worldwide Revenue: $27.8 million
• U.S. Employees: 116

48.  Hypothesis

• 2017 U.S. Revenue: $18.5 million
• Percent Change from 2016: +4.5% 
• 2017 Worldwide Revenue: $18.5 million
• U.S. Employees: 48

49.  KS&R (Knowledge Systems & Research)

• 2017 U.S. Revenue: $16.9 million
• Percent Change from 2016: -11.1% 
• Percent from Outside U.S.: 7.7%
• 2017 Worldwide Revenue: $18.3 million
• U.S. Employees: 88

50.  RTi Research​

• 2017 U.S. Revenue: $14.5 million
• Percent Change from 2016: -14.7% 
• 2017 Worldwide Revenue: $14.5 million
• U.S. Employees: 54

† Some or all figures are not made available by this company, so figures are based on research and estimation by the report author.

* Percent change calculation reflects adjustment of previously reported 2016 U.S. research revenue due to acquisition/divestiture activity or other business change during 2017.

Diane Bowers is president of CASRO, the trade association of market, social and opinion research organizations that represents and advocates for the U.S. research industry nationally and globally. Bowers currently is on the board of directors of The Roper Center for Public Opinion Research at the University of Connecticut; a past president of the Market Research Council and the Research Industry Coalition; and a long-time member of AAPOR, the AMA and ESOMAR. She is a founder and CASRO leader of the Americas Research Industry Alliance and the Global Research Business Network, which represents 38 national research associations around the world.

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Dana Stanley

Greenbook’s Chief Revenue Officer

Research Methodologies

November 18, 2019

Yes, Market Research Agencies Produce Poor Quality Reports – But Why?

How to produce quality research reports your client will love.

by Ron Sellers

It’s always easy to blame someone else.  It’s far more difficult to do an honest self-evaluation and see the extent to which you may have contributed to a problem. On November 5, in a GreenBook Blog post by Mike Sherman and Neil Gains, Do Market Research Agencies Produce Poor Quality Reports? , the authors present clear evidence that research vendors often think more highly of their reports than end clients do.  Reports are too long, lack practical answers and recommendations, and don’t address business problems.

In multiple decades in the insights business (both as a client and a vendor), I’ve produced hundreds of reports and seen many, many more.  Mike and Neil are entirely right: research reports too often just aren’t helpful to the end client. They present data but not actual insights .

But there are two important questions:  

• Why is this?  
• What are the solutions?

Whether you’re the writer or the recipient of reports, I’m going to ask you a really critical third question:  How much of this is your own fault?   

Questions for the Report Writer

Let’s start with the folks actually producing the research reports.

1. How Did You Start the Project?

When you began the project, did you start with the methodology, timeline, and budget?  Or was your first question, “What is the business problem you’re trying to solve?”

Let’s be blunt: that’s why you exist .  If you’re not helping clients solve business problems, you have no reason to be in business.  

2. Are You by Nature Curious?

If not, then you have a serious obstacle to becoming an effective report writer.  Hmmm…the data shows long-term customers are less satisfied than newer customers with customer service.  Many report writers stop after pointing this out, thinking their job is done. But aren’t you curious why this is?  Certainly, your client will be curious! What else in the data would provide some insight into the issue? Just reporting the facts without attempting to understand and present the meaning behind them is inexcusable for a report writer.

3. Is Your Report Produced for Your Company or Your Client?

Is your reporting customized to each client’s needs and company culture?  Or do you simply use your standard template and hand over the results?  

Every client is different.  I’ve had clients who want just a one-page summary, and others who want to wring every last bit of data from the study, so there’s no such thing as a report that’s “too long.”  Some value visuals; others want a narrative. This shouldn’t just be the preference of the individual client, but the client’s knowledge of how the information will be most useful within the organization.  If you haven’t discussed this, you’re missing out on a chance to produce something that will actually be used , making you more valuable to your client.

4. Is there a Broken Link in the Communication Chain?

Especially in large research agencies, the account manager and the actual report writer may be entirely different people.  The account manager gets to know the client; the report writer looks at a bunch of data in a vacuum and just writes based on what the data says.  It’s no different than a caterer learning about the client’s food allergies and preferences, but the chef just cooking whatever dishes can be made from whatever’s in the fridge.  Are you fully involving the report writer in client communications? If not, the person who most needs the knowledge isn’t receiving it.

5. Do you Have Clients or Partners?

My company has multiple clients we’ve been serving since the 90s.  We seek clients with whom we become partners; solving problems together.

If you as a vendor are nickel-and-diming clients, complaining when the situation requires last-minute changes, being unresponsive when they have needs, pushing them toward more profitable “solutions,” and basically treating the client like a bother or a paycheck, you’re not building partnerships.  If you’re not in a true partnership with your clients, how can you expect them to provide you with all the background, detail, and insight you require to address their needs effectively rather than just providing the data?

Questions for the Client

Okay, you’re not happy with the reports you’re getting.  I hear it all the time: It’s hard to find good research vendors!  But maybe it’s time to do a challenging self-evaluation: Are you as the client creating some (or maybe even much) of the problem?

1. What Drives Your Vendor Decisions?

In any purchase, your decision factors determine what you get.  If your choices are driven by cost, you’ll be sure to get the lowest-cost vendor.  But that may not be the vendor who can best understand and help solve your business problem.

Sometimes it’s not even cost.  We pitched a client and they gave us an RFP with little detail beyond their business problem.  We designed a proposal to address that problem. Their response was both exhilarating and depressing.  Exhilarating: “This is fantastic! You captured exactly what we were looking for, far more than any other vendor.  You obviously understand our business problem, and the pricing was great!”  Depressing: “We’re giving the project to someone else because you’re not in our vendor system.  The report is due in six weeks and it’ll take longer than that just to get you registered.”  

Whatever drives your vendor choice will be the determining factor in the product you get.

2. Are You Choosing Vendors or Creating Partners?

The more we treat each other as partners, the more I can know you and your organization and the more helpful I can be.

But the more you try to whittle down my pricing, fail to respond to my questions, take forever to pay invoices, miss deadlines (and then expect me to work overtime to stay on track), refuse to consider my suggestions, and otherwise treat me as “just a vendor,” the less I’ll ever be your partner.  I’ve had clients who regularly joked about how much they abuse their vendors. Tell me how that helps me perform at my highest level for you?

A partnership also involves two-way communication.  When you start with, “We want to do six online focus groups among our customers to test new logo options,” you limit me to being an order-taker.  When you start with, “We need to evaluate some new logo options,” you allow my experience to collaborate with your knowledge to make the project better.

3. Are You Giving Your Report Writers What They Need to Succeed?

I can’t tell you how many times clients start a research conversation by discussing the methodology, timeline, or budget.  Or get offended when I offer alternatives or different ways of thinking about the project. Or become frustrated when I ask deeper questions about their business needs.  Or how many times clients can’t even express a clear business need .

We were bidding a project for a large bank.  I asked questions about how they planned to use the data, what existing customer and transaction data we could pair with the survey data, etc.  The client became quite exasperated and demanded, “Why are you asking all these questions? The other vendors didn’t have these questions!” Right then, I knew we had no chance at the project, and that (other than financial implications) I didn’t actually want it.

If you expect me to help solve your business problem, you need to share the background, information, and detail to allow me to do that.  You can’t withhold information and then blame the vendor when the report isn’t helpful.

4. Do You Really Know What You Want?

I’ve given a short, succinct summary to a client and been told:  “We paid a lot of money for this study – where’s all the detail?”  The next time I provided a detailed report to the same client and was told:  “No one is going to read all this – just give me a three-page summary!”

So how do I provide you what you want when you don’t know what you want?

It’s a Two-way Street

From the research Mike and Neil did, it’s obvious that many report writers feel all is good while their clients think otherwise.  Unfortunately, it also appears that many clients simply blame their vendors for less-than-helpful reports, while report writers shift blame to uncooperative clients.  

Until both sides take a good, hard look at the possibility of their own contributions to the problem, it isn’t likely to be solved any time soon.

Ron Sellers

63 articles

The views, opinions, data, and methodologies expressed above are those of the contributor(s) and do not necessarily reflect or represent the official policies, positions, or beliefs of Greenbook.

Comments are moderated to ensure respect towards the author and to prevent spam or self-promotion. Your comment may be edited, rejected, or approved based on these criteria. By commenting, you accept these terms and take responsibility for your contributions.

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Market Research Reports

Market research reports are essential tools for businesses to understand their industry, target market, and competition. These reports provide in-depth analysis and insights into market trends, consumer behavior, and industry competition that can help businesses make informed decisions and develop effective strategies. In this article, we will explore why market research reports are crucial for business success, the types of market research reports available, their importance, key players in the market research report industry, and how to choose the right market research report for your business.

Table of Contents

Why Market Research Reports are Essential for Business Success

Market research reports are valuable resources that enable businesses to make informed decisions and develop effective strategies. These reports provide insights into consumer behavior, industry trends, and market competition, helping businesses to understand their target audience and develop effective marketing and advertising campaigns. Furthermore, market research reports can help businesses identify potential opportunities and challenges in their industry, allowing them to adapt their strategies accordingly.

Moreover, market research reports can also assist businesses in making important investment decisions. By analyzing market trends and consumer preferences, businesses can identify potential areas for growth and expansion. This information can be used to make informed decisions about where to allocate resources and invest in new products or services. Additionally, market research reports can help businesses stay ahead of the competition by providing insights into emerging trends and technologies, allowing them to innovate and stay relevant in their industry.

Types of Market Research Reports and their Importance

There are several types of market research reports, including industry analysis reports, consumer behavior reports, and competitive analysis reports. Industry analysis reports provide insights into market trends, industry growth, and the competitive landscape. Consumer behavior reports focus on consumer preferences, purchasing habits, and attitudes towards products and services. Competitive analysis reports provide insights into competitor strategies, market share, and positioning. All of these reports are essential for businesses seeking to gain a better understanding of their target market and competitors.

Another important type of market research report is the market segmentation report. This report helps businesses identify and understand different segments within their target market, such as age, gender, income, and geographic location. By understanding these segments, businesses can tailor their marketing strategies and product offerings to better meet the needs and preferences of each group.

Finally, market research reports can also include feasibility studies, which assess the viability of a new product or service. These reports analyze factors such as market demand, production costs, and potential revenue to determine whether a new product or service is worth pursuing. Feasibility studies can help businesses avoid costly mistakes and make informed decisions about new ventures.

Market Research Report Industry Overview

The market research report industry is a rapidly growing sector, fueled by the increasing demand for insights and analysis by businesses seeking to gain a competitive edge. According to a recent report by Grand View Research, the global market research report industry is expected to reach $107.05 billion by 2027, growing at a CAGR of 5.4% from 2020 to 2027.

This growth is being driven by several factors, including the rise of e-commerce and the increasing importance of data-driven decision making. As businesses continue to expand their online presence, they require more detailed information about their customers and competitors. Market research reports provide this information, allowing businesses to make informed decisions about their marketing, product development, and overall strategy.

Key Players in the Market Research Report Industry

Some of the key players in the market research report industry include Nielsen Holdings, Kantar Group, The NPD Group, Ipsos, and GfK SE. These companies provide a range of research and consulting services, including market research reports, data analysis, and strategic consulting services.

Nielsen Holdings is a global measurement and data analytics company that provides market research, audience measurement, and advertising effectiveness solutions. They offer insights into consumer behavior and media consumption across various platforms and industries.

Kantar Group is a data, insights, and consulting company that helps clients understand their markets and customers. They offer a range of services, including brand strategy, innovation, and customer experience management.

How to Choose the Right Market Research Report for Your Business

Choosing the right market research report for your business can be a daunting task, given the vast array of reports available. Some factors to consider when selecting a report include the research methodology used, the scope of the report, the level of detail provided, and the cost. It’s also essential to consider the relevance of the report to your business and industry, ensuring that the insights provided are actionable and relevant.

Another important factor to consider when choosing a market research report is the reputation of the research firm or organization that produced the report. It’s important to select a report from a reputable source to ensure that the data and insights provided are accurate and reliable. You can research the reputation of the firm by reading reviews, checking their credentials, and looking at their track record.

Additionally, it’s important to consider the format of the report. Some reports may be presented in a traditional written format, while others may include visual aids such as graphs, charts, and infographics. Depending on your preferences and needs, you may find that a report with more visual aids is easier to understand and more engaging to read.

The Cost of Market Research Reports

The cost of market research reports can vary depending on the scope and level of detail provided. Some reports can cost several hundred or even thousands of dollars, while others may be available for free or at a lower cost. However, the cost of market research reports should be viewed as an investment in the business’s growth and success, given the insights and strategic value they provide.

It is important to note that the cost of market research reports can also be influenced by the source of the report. Reports from well-established and reputable market research firms may be more expensive, but they often provide more comprehensive and reliable data. On the other hand, reports from lesser-known or newer firms may be less expensive, but the quality and accuracy of the data may be questionable. Therefore, it is crucial to carefully evaluate the source and credibility of the report before making a purchase decision.

How to Access and Interpret Market Research Reports

Market research reports can be accessed through various channels, including research firms, industry associations, and online marketplaces. Once you have obtained a report, it’s essential to interpret the insights and data provided in a way that is relevant to your business and industry. This may involve analyzing the data, identifying trends, and developing strategic recommendations based on the insights provided.

It’s important to note that not all market research reports are created equal. Some may be more comprehensive or relevant to your business than others. Before investing in a report, it’s important to evaluate its credibility and usefulness. This can be done by researching the reputation of the research firm or organization that produced the report, as well as reviewing the methodology and sample size used in the research. By carefully selecting and interpreting market research reports, businesses can gain valuable insights that can inform their strategic decision-making and improve their competitive position in the market.

The Impact of Technology on the Market Research Report Industry

The market research report industry has been significantly impacted by technological advancements in recent years. The use of big data and artificial intelligence has enabled more in-depth analysis and insights, while online marketplaces and platforms have made it easier for businesses to access and purchase reports. These technological advancements have also led to the development of new and innovative research methods, further enhancing the value of market research reports.

One of the most significant impacts of technology on the market research report industry is the ability to collect and analyze data in real-time. With the use of mobile devices and sensors, businesses can gather data on consumer behavior and preferences as they happen, providing more accurate and up-to-date insights. This has also led to the rise of predictive analytics, which uses machine learning algorithms to forecast future trends and behaviors based on historical data. As technology continues to evolve, the market research report industry will undoubtedly continue to adapt and innovate to meet the changing needs of businesses.

Trends in the Market Research Report Industry

Some of the trends in the market research report industry include the increasing use of artificial intelligence and predictive analytics, the growing demand for real-time data and insights, the use of social media analytics, and the rise of niche research firms specializing in specific industries or markets. These trends are likely to further reshape the industry in the coming years, providing new opportunities and challenges for businesses seeking to leverage market research reports.

Top Strategies for Using Market Research Reports to Grow Your Business

There are several effective strategies for using market research reports to grow your business, including using insights to develop targeted marketing campaigns, identifying new opportunities and potential growth areas, developing competitive strategies based on competitor insights, and identifying potential risks and challenges in the industry. Adopting these strategies can help businesses to develop more effective strategies and gain a competitive edge.

Common Mistakes to Avoid When Using Market Research Reports

Using market research reports can be a complex and challenging process, and there are several common mistakes that businesses should avoid. These include failing to select a relevant report, misinterpreting data or insights, using outdated reports, failing to consider the competition, and not investing adequate time and resources in analyzing and interpreting the insights provided. By avoiding these mistakes, businesses can ensure that they are getting the most value out of their market research reports.

Case Studies: Examples of Businesses that Used Market Research Reports Successfully

There are many examples of businesses that have used market research reports successfully to gain a competitive edge. For example, Apple used consumer behavior reports to understand customer preferences and develop products that met their needs and preferences. Amazon used industry analysis reports to identify potential growth areas and develop competitive strategies in the e-commerce industry. These examples highlight the importance of using market research reports to inform strategic decision-making and drive business growth.

Future Outlook for the Market Research Report Industry

The market research report industry is expected to continue growing in the coming years, driven by the increasing demand for insights and analysis by businesses seeking to gain a competitive edge. Technological advancements and the rise of niche research firms are likely to further reshape the industry, creating new opportunities and challenges. By leveraging market research reports effectively, businesses can gain insights and develop strategies that position them for success in an increasingly competitive marketplace.

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Market Research Agency: What They Do and Why You Need Them

In a rapidly evolving business landscape, operating without a clear understanding of your market is like navigating uncharted waters in the thick of a storm. A Market Research Agency, with its refined tools and unrivaled expertise, can illuminate your course, promise smooth sailing, and save your ship from capsizing. But what exactly does a Market Research Agency do? More importantly, why would your business need one? Dive into this comprehensive guide and discover how employing proficient market research can catapult your venture to the forefront of innovation and success.

A market research agency is a specialized company that offers valuable research services to clients, aiding them in making informed business decisions. These agencies employ a team of skilled researchers who utilize various methodologies to gather data, conduct analysis, and provide insights into market trends, consumer behavior, and competitor strategies. Market research agencies may offer both qualitative and quantitative research , consulting services, workshop facilitation, and more. Their expertise helps organizations understand their target audience, evaluate business opportunities, and develop effective marketing strategies for maximum success.

What is a Market Research Agency?

In today’s fast-paced and competitive business environment, it is paramount for companies to have a deep understanding of their target market, customers, and competitors. This is where a market research agency comes into play. A market research agency is a specialized firm that offers a wide range of services to help businesses gather valuable insights and make informed decisions.

Unlike in-house research teams, market research agencies provide an external perspective and expertise, giving them a unique advantage in objectively analyzing data and providing actionable recommendations. These agencies consist of a group of researchers with diverse backgrounds, extensive experience, and specialized knowledge in various industries. They work closely with clients to understand their specific research goals and tailor methodologies accordingly.

For instance, imagine a company launching a new product in the global tech industry. They might seek the assistance of a market research agency to conduct comprehensive market analysis, competitor assessments, and customer surveys. The agency’s team of experts can design and execute studies using advanced techniques such as focus groups, online surveys, ethnographic research, and more.

Now that we have a clear understanding of what a market research agency is let’s delve into the functions and services they offer.

Functions and Services They Offer

Market research agencies offer an array of functions and services designed to collect, analyze, and interpret relevant data. Let’s explore some key offerings:

• Qualitative Research : This approach focuses on gathering in-depth insights into consumer behavior, attitudes, motivations, and preferences. Qualitative methods include techniques like interviews, observations, focus groups, and case studies. These methodologies provide rich contextual information that helps businesses understand the “why” behind consumer decisions.
• Quantitative Research : In contrast to qualitative research, quantitative methods aim to collect numerical data that can be measured statistically. Surveys conducted through online panels or telephone interviews are common quantitative research techniques. By analyzing large datasets, market research agencies can identify patterns and trends among target audiences, enabling businesses to make data-driven decisions.
• Consulting Services: Market research agencies often provide consulting services alongside their research offerings. This can include strategic guidance, market-entry assessments, brand positioning, competitive intelligence, and product development support. These services help companies leverage the research findings and translate them into actionable strategies that drive business growth.
• Workshop Facilitation: Some agencies also offer workshop facilitation to aid in strategic planning sessions or brainstorming activities. Trained facilitators from the agency guide discussions and ensure active participation from stakeholders involved. Workshops are valuable for generating insights collaboratively, aligning teams, and fostering innovation within organizations.

Imagine a fashion retailer seeking to understand the preferences of its target market better. They might engage a market research agency to conduct qualitative research through focus groups and interviews with their customer base. The insights gathered from these sessions can then be used to inform marketing strategies, product assortment decisions, and overall brand experience enhancements.

Now that we have explored the functions and services provided by market research agencies, it is evident that their expertise can significantly benefit businesses in making informed decisions based on reliable data.

Types of Market Research: Qualitative vs Quantitative

When it comes to market research, there are two primary types that market research agencies utilize: qualitative and quantitative research. Each type serves a different purpose and provides unique insights into consumer behavior and preferences.

Qualitative research focuses on understanding the underlying motivations, attitudes, and opinions of individuals. It involves gathering in-depth information through methods such as interviews, focus groups, and observational studies. This type of research is valuable for gaining rich, nuanced insights that can help businesses understand the “why” behind consumer behavior. For example, a market research agency might conduct qualitative research to understand why customers prefer one brand over another or to uncover new product ideas.

On the other hand, quantitative research involves collecting numerical data and analyzing it statistically. This research method aims to measure and quantify specific aspects of consumer behavior on a larger scale. Surveys, questionnaires, online polls, and experiments are commonly used tools in quantitative research. By gathering data from a larger sample size, market research agencies can identify patterns, trends, and correlations that provide robust statistical evidence. This type of research is often used to determine market sizes, customer satisfaction levels, or the impact of advertising campaigns.

Both qualitative and quantitative research methods have their strengths and limitations. While qualitative research offers deeper insights into consumer attitudes and motivations, quantitative research provides more generalizable data across larger populations. Market research agencies often employ both types of research methods depending on the objectives of their clients’ projects.

Now that we have explored the different types of market research employed by agencies let’s dive into the key questions that these agencies ask to gain valuable insights for their clients.

• According to the Global Market Research Report 2020, the global market research industry was worth $73.4 billion in 2019.
• A Bureau of Labor Statistics report from 2019 estimates that Market Research Analysts and Marketing Specialists’ job growth is projected to grow by 18% from 2019 – 2029, much faster than the average for all occupations.
• Data from IBISWorld revealed that in 2021, there are currently around 44,726 active businesses conducting market research in the United States alone.

Key Questions Market Research Agencies Ask

Market research agencies play a critical role in helping businesses make informed decisions by providing them with valuable insights about their target audience, competition, and industry trends. To gather this information effectively, these agencies employ a range of strategies and techniques.

Let’s say a market research agency is hired by a restaurant chain that wants to improve its customer experience. They would typically begin by asking a series of key questions to uncover important insights, such as:

• What are customers’ expectations when dining out?
• What factors influence their choice of restaurant?
• What do they enjoy most about dining experiences?
• Are there any pain points or areas for improvement?
• How do competitors fare in terms of customer satisfaction?

By asking these questions, market research agencies can gain a comprehensive understanding of customers’ preferences, needs, and behavior. This information forms the foundation for making strategic decisions that can enhance the customer experience and drive business growth.

Key questions like these serve as the starting point for market research agencies to delve deeper into the data collection and analysis process. These inquiries help shape the design of research studies, inform recruitment criteria for survey participants or focus group attendees, and determine appropriate methodologies for data collection.

Think of these questions as an archaeologist’s excavation tool. Each question allows market research agencies to carefully dig into the hidden layers of consumer behavior and unearth valuable insights that can guide businesses toward success.

Analysis: How Agencies Decode Data

Market research agencies possess the expertise and tools necessary to decode and analyze complex data sets, providing valuable insights to their clients. The process of analysis involves various steps, where agencies employ statistical techniques, qualitative methodologies, and specialized software to make sense of the collected data.

Firstly, the gathered data is meticulously organized and cleaned to ensure its accuracy and usability. Agencies may work with vast amounts of data that require careful scrutiny and preparation before analysis can begin. This involves removing any outliers or errors that could potentially skew the results.

Next, agencies apply a range of analytical methods to uncover patterns, trends, and relationships within the data. For quantitative research, statistical analysis plays a significant role in identifying correlations, testing hypotheses, and deriving meaningful conclusions. This involves using appropriate statistical tests such as regression analysis or ANOVA (Analysis of Variance) to examine relationships between variables.

For instance, a market research agency analyzing survey responses might use regression analysis to determine how different factors like age, income level, and geographic location impact consumer preferences for a particular product.

In addition to quantitative analysis, qualitative research techniques are employed to gather deeper insights into consumer behavior. These methods include focus groups, interviews, ethnographic observations, and content analysis. Qualitative analysis involves categorizing and interpreting the collected qualitative data to extract valuable themes and insights.

The combination of quantitative and qualitative analysis offers a comprehensive understanding of consumer attitudes, behaviors, and motivations. By decoding the data through rigorous analytical processes, market research agencies enable their clients to make informed decisions based on robust evidence.

Now that we understand how market research agencies decode data through systematic analysis methods let’s explore how they present their findings effectively to clients.

Presenting Results & Findings

Presenting research results in a clear and compelling manner is crucial for clients to derive maximum value from the insights provided by market research agencies. Effective communication of findings ensures that decision-makers can easily understand, interpret, and act upon the information provided.

One common approach used by agencies is to create comprehensive reports that showcase the research methodology, data analysis techniques employed, and the key findings. These reports are typically structured in a logical flow, making it easy for clients to navigate through different sections and grasp the main takeaways.

For example, an agency might start with an executive summary that provides a concise overview of the research objectives, methodology, and top-level findings. This section allows busy executives to quickly understand the essence of the research without delving into intricate details.

To further enhance comprehension, agencies often incorporate visual elements such as charts, graphs, and infographics to present complex data in an easily digestible format. Visual aids help highlight trends and patterns, making it simpler for clients to identify key insights at a glance.

Another effective technique employed by market research agencies is storytelling. By weaving research findings into narratives, agencies can bring the data to life and make it relatable for clients. Stories engage clients on an emotional level and help them understand how the research impacts their business decisions.

Having explored how market research agencies analyze data and present their findings effectively, let’s now examine why working with such agencies brings significant benefits and advantages.

Working with a Market Research Agency: Benefits and Advantages

When it comes to making critical business decisions, having access to accurate and reliable market insights is essential. This is where working with a market research agency can provide significant benefits and advantages. Whether you are a small startup or a large corporation, partnering with these specialized agencies can help unlock valuable information and help you gain a competitive edge in the market.

Imagine you’re a clothing manufacturer looking to launch a new line of athleisure wear. Before investing time, money, and resources into this venture, you want to ensure that there is sufficient demand for your products and understand how your target audience perceives athleisure wear. By engaging with a market research agency, you can gather comprehensive data on consumer preferences, buying behavior, and potential market opportunities.

So, what are the specific benefits and advantages of working with a market research agency?

• Expertise and Knowledge: Market research agencies consist of professionals who possess in-depth knowledge of different industries, markets, and research methodologies. They understand how to design studies and analyze data effectively to provide you with actionable insights.
• Objective and Unbiased Perspective: As an outsider to your organization, market research agencies are known for their impartiality. They bring an objective viewpoint that can prevent biases from influencing the results of the research. This ensures that you receive reliable information that is not skewed by internal opinions or perceptions.
• Cost-effectiveness: Conducting comprehensive market research in-house can be expensive and time-consuming. By outsourcing this task to a specialized agency, you leverage their expertise while reducing overhead costs associated with hiring dedicated researchers, and data analysts, or purchasing expensive software tools.
• Access to Industry Networks: Market research agencies often have extensive networks within specific industries or geographic regions. This allows them to tap into their contacts for additional information or expert opinions when needed. Their connections can provide valuable insights that may not be easily accessible otherwise.
• Customized Research Solutions: Different businesses have unique research needs. Market research agencies can tailor their methodologies and approaches to meet your specific requirements. Whether you need qualitative focus groups, quantitative surveys, or a combination of both, they can customize the research design accordingly.
• Time-saving: Market research is a time-consuming process that requires various phases such as planning, data collection, analysis, and reporting. By outsourcing this task to an agency, you free up valuable time and resources within your organization, allowing you to focus on other core business activities.

Remember that working with a market research agency is a collaborative effort. It’s important to communicate your goals and expectations clearly right from the start. By fostering open communication and establishing a strong partnership, you can maximize the benefits of working with these experts in the field.

Partnering with a market research agency provides several benefits and advantages, including expertise, an impartial perspective, cost-effectiveness, industry networks, customized solutions, and time-saving. These agencies serve as valuable partners in helping your business make informed decisions based on reliable market insights. So, whether you’re launching a new product or looking to enhance your existing market share, harnessing the services of a market research agency can be instrumental in achieving your business objectives.

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5 Benefits of Market Research Reports

by Sarah Schmidt , on July 28, 2016

To illustrate the benefits of market research reports , we talked to a variety of professionals who use these reports in their day-to-day work. Read on to learn how these individuals use market research reports to their advantage.

1. Gather Industry Information Quickly

Max Robinson, Digital Marketing Manager at Aims Media Design in Glasgow, UK, uses market research reports to outline target audiences for clients before beginning any advertising campaign.

“Although we have a research team in place, we understand that there is a wealth of information out there that is relevant to our needs and has already been collected by another entity,” he explains. “Primary research is undoubtedly important, but in a fast-paced industry, we often need information quickly, and secondary market research is the best way to gather that information.”

Using market research reports takes much of the guesswork out of the process, saving Robinson “huge amounts of time."

2. Validate Internal Research 

Content Marketer Linda Pophal uses market research reports for her own needs, as well as for her clients. She uses these reports to research best practices, prepare RFPs, get ready for client meetings, and create content.

“Research reports save me time by providing insights into questions I might have but don’t have the time/resources to conduct primary research for,” she says. “In addition, I also find research reports can help me to validate information I may be gathering through primary sources."

3. Get a Holistic View of the Market

Nick Braun, Founder & CEO of PetInsuranceQuotes.com, also uses market research reports to double check his data. “We still do our internal analyses, but secondary reports guide our changes, and we look for ways to justify what third parties say so we aren’t myopic and caught up in our own data.”

In addition, secondary research reports help Braun stay up to date on the market as a whole. “These reports give us a holistic view of the market and allow us to benchmark all the companies in the industry, not just the ones we focus on,” he explains.

4. Use Objective Data to Make Informed Decisions

Another important benefit of market research reports is their impartiality. “Any third-party report is more unbiased, and so they provide a better picture of what’s really happening in our market,” Braun asserts. “It’s the best way to stay on the right path because we focus on the data and realities of our industry.”

Armed with information produced by sound research methods, you will have a more accurate understanding of the market landscape, issues that will affect the industry in the future, and how to best position specific brands to drive business growth . All of this insight will lead to actionable ideas and better decision-making. 

5. Strengthen Your Credibility and Reputation

By using objective analysis to make decisions, you will not only develop better business strategies, you will also improve your own professional reputation in the field and help others to have more confidence in your conclusions.

Braun explains it this way: “Instead of telling a client or partner, ‘This is what we’ve found,’ or ‘This is what we think,’ these reports allow us to say, ‘This is what the industry is doing,” and it lends more credibility and trust by not always being the sole source of data and information.”

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What Is a Market Research Agency and Do You Need One?

When it comes to conducting market research, you may have come upon the term market research agency. 

Nowadays, there are agencies for virtually all industries, so it is unsurprising that they exist in the research space. As such, using this kind of agency is one of the many available market research techniques .

The market research industry has more than doubled in revenue since 2008 , exceeding $76.4 billion in 2022. 

US market research companies have been dominating this space , as they generated over $47 billion dollars in revenue. This means that market research companies in the US yield more than half of the total revenue of the market research industry globally. 

But what exactly is this kind of agency in the realm of market research? And how do you know if you may need to utilize its services?

Perhaps, you may need its services, but can make better use of a different method to conduct research on your consumers.  

This article expounds on the premise of the market research agency, and its four main types, and compares it with another major method of conducting research to help you determine if you need it.

Defining a Market Research Agency 

This is a kind of agency that offers various market research services to its clients. It is made up of a core group of researchers and administrators . 

This kind of agency can conduct either quantitative market research and qualitative market research . It may also offer both kinds of research.

These agencies will approach market research in their own manner . Thus, they may offer a specific service, or various services. As such, market research agencies may provide the following services:

• A series of interviews
• Consultancy services
• Focus groups
• A survey campaign 

(See the below section to better understand the four main types of these agencies).

A market research agency can exist in the form of a single company, a division of a company, or even an individual who specializes in carrying out market research campaigns. 

Such an agency can take different approaches to research, such as a full-service process, fieldwork or only data analysis. 

It typically works by gathering and analyzing information about your customers, competitors, vendors and distributors and other people and forces in your industry. 

Most of these firms provide services that are commissioned by companies for particular purposes. Many also c ollect data beforehand and then attempt to sell it to interested parties . Because of this, these firms are part of syndicated research . 

The Four Main Types of Market Research Agencies 

There are four main types of market research firms. They differ based on the services they focus on and offer to their clients. Understanding these four major forms will allow you to decide whether you need this form of research, along with what specific services are most important for your research endeavors. 

Field Service Agency

This kind of agency conducts research with your target market . Focused on data collection, it engages customers at the ground level to gain insights based on a specific question. The methodology it uses involves surveys, interviews, focus groups, observation, and other data collection methods. 

The “field” in this agency refers to the act of engaging respondents itself and collecting data.  

A field service agency doesn’t design research campaigns or analyze the findings of the research. Their area of focus is specifically on gathering and documenting data.

Also referred to as a fieldwork firm, this agency is typically commissioned by other market researchers that have already begun a research study and use the firm to get data to back up their research. 

The field service agency sends the data to the researchers, so that they can then apply it to their studies. 

Intercept and Mystery Shopper Agencies

These agencies are specialized field service firms that collect data via real-life interactions with customers. This involves face-to-face interaction with respondents for intercepts along with disguising participants as shoppers who observe customers through mystery shopping.

Mystery shopper firms collect and measure mock customer experience by having participants working as if they were actually paying customers in a transactional environment.

In this way, the firm researches how typical customers of a business experience its brand. The mystery shoppers collect valuable data that can help businesses alter their services and frontline interactions to meet consumer preferences and needs. 

This type of market research is useful for brands that seek to observe in-the-moment reactions and engagement of their customers. This is also useful if you’d like to see if the location of business dealings affects the customer experience. 

This type of firm may also rely on online intercept tools with mobile availability given the presence of market research tools in the digital world.

Research Report Purveyor

This type of agency aggregates and assembles market research on particular industries, demographics, psychographics and market trends. This tends to include conducting secondary research, or buying data from the other types of agencies aforementioned. 

The purveyors put together reports for businesses interested in the data they gathered. A syndicated research approach, the reports from the original study were self-funded using indications that the information will be of interest to different buyers in an industry. 

This type of agency is best suited for businesses or other research firms that need broader market data and don’t have the time or resources to invest in custom research. 

Full-Service Agency

As its name suggests, this type of agency supplies end-to-end, customized market research services . These services can include the following: 

• Identify the research problem to be solved.
• Determine a viable research design.
• These typically involve both online and offline activity such as respondent sampling, survey data collection, various analyses, such as a customer behavior analysis and reporting.
• Implement the insights that were garnered.
• Prepare reports of the findings. 

A full-service research firm is often used as a consultant, given that it may also implement the collected data due to the demand for actionable outcomes. In this way, the research is simply a means to other business-related activities they provide. 

DIY Survey Research: A Market Research Agency Alternative

When it comes to market research agencies, most businesses and researchers typically use one type of agency or approach, rather than two or more, as this can be expensive and not worth the hassle. 

However, some also choose to pair a market research firm with the DIY survey approach. That’s because surveys are invaluable tools of customer insights . Moreover, they can be used to research virtually any audience. That’s why some research firms conduct them.

However, conducting DIY market research is more ideal than relying on a third party to conduct the survey research for you. While surveys offer colossal support, they are only as useful as you make them. 

That’s because when you rely on other companies to run your survey campaign , they wield full control over the direction of the survey campaign , including its specific questions and target audience. 

It is therefore far more optimal to conduct market research yourself with a DIY survey platform. Such a platform would grant you full control over every aspect of your market research campaign. You can customize it to your liking in various ways, including:

• The survey target audience
• The targeting criteria
• The screener questions
• Adding multiple audiences 
• The questionnaire
• All of the question types
• The wording of the questions
• The order and logic paths of the questions
• The thank you note and introduction
• The dashboard
• This includes the survey results dashboard , which you can filter
• You can choose your own imports and visualizations 

We recommend using survey research to accompany any market research agency you use to conduct your research campaigns. Specifically, we recommend using a multi-functional survey platform, one that not only creates and deploys surveys, but enables you to carry out various market research efforts , such as conducting a conjoint analysis , pricing research, A/B testing and more.  

With such a survey platform, you will get a holistic market research approach , as it allows you to deploy a multitude of survey types, research different business matters and even perform other market research practices. 

Because of this, a strong survey platform allows you to replace or entirely forgo using a market research agency . After all, c onducting your own surveys is cheaper, faster and more relevant to your particular research needs. 

Getting Market Research Right

As per the verdict of this article, it is useful to rely on both market research firms, along with a DIY survey platform . 

You can even abandon using a research agency entirely, as survey research grants you all the relevant information for your survey campaign in a timely manner. 

However, the efficacy of your survey campaign is highly dependent on the platform you use. You wouldn’t want to gain slow or subpar data.

You should therefore select your market research platform carefully. A strong market research company will allow you to fulfill all of your online market research activities. This includes all the activities mentioned in this article and beyond.

The Pollfish online survey platform allows you to create a thorough survey data collection, one you can customize to your liking, view however you choose and organize to the max.

We offer an advanced method to distribute your survey to millions of random users online via the organic sampling method. 

Random Device Engagement (RDE) is a kind of polling that relies on advertising networks and other digital portals on devices, to engage random people where they are, voluntarily.

This way, they won’t feel pressured to answer in a particular way, as survey panelists would, as they are completely anonymous and randomized. 

Researchers can reap a wide breadth of information on their respondents and access a wide pool of insights in their survey results dashboard .

We also offer the advanced skip logic feature, which routes respondents to relevant follow-up questions based on their previous answers.  

In addition, you can send your survey to specific respondents and on specific digital spaces, by simply using the Distribution link feature . This allows you to post your survey anywhere you wish, along with emailing it to those you want to research. 

With such a multi-functional platform, you’ll be able to conduct any market research campaign and gain high-quality data which you can use to take action.

Do you want to distribute your survey? Pollfish offers you access to millions of targeted consumers to get survey responses from $0.95 per complete. Launch your survey today.

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Market research overview

• Market research reports
• Background market data/statistics
• Locating published research

International market reports

Key sources of market research:

IBISWorld Industry-based market research analysis providing strategic insights on US, UK, EU, China, and global markets.  It provides 30 to 40 pages of key statistics and analysis on market characteristics, operating conditions, current and forecast performance, cost structure, major industry participants and more. For the UK it provides ESG industry scores and analysis and also an inflation tracker tool to help understand different industries exposure to inflation.

MarketLine Advantage Provides global research data on companies, industries and countries, via industry reports; industry profiles; case studies and deals. Reports may be regional or country specific.

Statista A statistics portal providing statistics, reports (dossiers) and infographics. It incorporates free and subscription data sources and covers 600 industry sectors. It is particularly strong on social media and consumer products. Statista now offers Research AI a tool that crafts responses based on Statista's data and reports.

Technavio Insights   Technavio Insights from Infiniti Research publishes over 17,000 reports that review and identify market opportunities for over 800 sectors, industries, new/emerging technologies in over 50 countries. 

Fitch Reports via ProQuest In the ProQuest database there are a series of quarterly industry and country reports by Fitch:

• Fitch Solutions Country Industry Re ports.     PUBID(2044556) These provide global or regional reports and individual country reports on major industries. For example: Global renewables,  Europe power, France renewables (with a 10 year forecast).
• Fitch Solutions Industry Insight Reports.   PUBID(2044554) These take a broader look at an industry in a region: Americas Power and Renewables Insight, European Agribusiness Insight, Middle East and Africa Mining Insight, and the wider; Drug Delivery Insight
• ​​​​​​ Fitch Solutions Risk Reports.   PUBID(2044555) These provide general country risk reports and reports on more specific areas: Operational Risk, Trade and Investment, Crime and security.

You can find them in the ProQuest database by entering the publication ID and adding a keyword:     PUBID(2044556) AND renewables     PUBID(2044555) AND Brazil

Or use our Summon  search and enter your key search terms with the word Fitch. The use the side bar to  limit by date  and by type=report. For example:   mining AND brazil AND fitch

Mergent Online - Investext tab Covers quoted companies and their industries.  TIP - There is an option to choose an “initiating coverage report”. These often provide good coverage of an industry.

Business Source Premier As well as journal and trade press articles it includes limited market research and country reports from Datamonitor (called Marketwatch).

ProQuest Business Premium Collection Broad coverage of industries, markets, management topics, finance and country data.  Tip: When searching by keyword limit by date and full text and then on the side panel limit by document type: Report, Industry report, Market Research Tip: Other way to locate market studies is to use the “Browse option” on the home page and open up the market research drop down. Tip: If you need historical market research then the Snapshot reports may help (see note above about how to browse for these). Snapshot reports stopped being updated in 2008 and the earliest reports are from 2001. Each report has 5 years of historical data. Forrester   ( registration required ) Research on technology and business in the broadest sense. Topics covered include: architecture and technology strategy, infrastructure, business process management, digital and mobile business, cloud computing, business intelligence, customer experience and much more. Different types of reports for different audiences, e.g. Playbooks are a good starting point on a topic for Senior Executives. First Research  via ProQuest They are US-specific reports,  although a section in each report gives an insight into the international market. They cover a wide range of industries and looks at market drivers, critical issues, challenges and opportunities.  From the basic search screen   enter your keyword term plus the publication ID, e.g:     solar AND PUBID(51791)    

BuddeComm  via ProQuest These reports cover Telecomms globally. From the basic search screen   enter your keyword term or country name plus the publication ID, e.g:     Jamaica AND PUBID(4722819)

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A Guide on How to Create a Market Research Report

A market research report provides valuable insights into consumer behaviors, market trends, competitive analysis, and the overall health of specific industries.

This document serves as a roadmap for businesses to strategize effectively, identify new opportunities, and mitigate risks.

In this article, we will walk you through the essential components of a market research report, the steps to create one, and best practices to ensure that your findings are actionable and accurate.

What is a Market Research Report?

A market research report is a comprehensive document that gathers data about market conditions, customer preferences, competition, and other factors affecting an industry or business. It synthesizes primary and secondary research to present an analysis that helps companies make strategic decisions. The report covers various aspects, from demographic data and consumer surveys to industry trends and competitive dynamics.

Types of Market Research Reports

Market research reports can vary based on the objectives and the scope of the study. Here are some common types:

• Consumer Analysis Reports: Focus on customer demographics, preferences, and behavior to tailor products and marketing strategies.
• Competitive Analysis Reports: Evaluate the strengths and weaknesses of competitors within the market, offering insights into competitive advantages and potential opportunities.
• Industry Analysis Reports: Provide a broad overview of the industry, including trends, size, and growth forecasts.
• Product Testing Reports: Gather feedback from users about a new or existing product to inform product development and improvement.
• Brand Loyalty Reports: Analyze customer loyalty and satisfaction to help develop strategies to enhance customer retention.

What Does a Market Research Report Include?

A well-rounded market research report generally contains the following elements:

• Executive Summary: A concise overview of key findings and recommendations, allowing readers to quickly understand the report's essence.
• Introduction: Contextualizes the research, including objectives and questions that the report aims to address.
• Methodology: Describes the research methods used to collect data, whether through surveys, interviews, focus groups, or secondary data sources.
• Market Analysis: Detailed analysis of the market, including size, trends, growth patterns, and environmental factors.
• Competitive Landscape: Assessment of key players in the industry, their market share, strategies, and products.
• Customer Insights: Analysis of customer demographics, buying behaviors, preferences, and needs.
• Conclusions and Recommendations: Summarize the insights derived from the research and suggest actionable strategies based on the findings.

How to Create a Market Research Report in 5 Steps

Creating an effective market research report involves a structured approach:

• Define the Purpose: Clearly articulate what you want to achieve with the report. This will guide your research focus and methodology.
• Gather Information: Use both primary and secondary research to collect comprehensive data. Primary research could include surveys and interviews, while secondary research may involve reviewing existing studies, industry reports, and competitive data.
• Analyze Data: Interpret the data to identify patterns, insights, and correlations. Use statistical tools and software for accurate analysis.
• Draft the Report: Organize the findings in a structured format. Start with the executive summary, followed by the introduction, methodology, detailed findings, and conclusions.
• Review and Revise: Ensure the report is clear, accurate, and free from bias. It may be helpful to have peers or stakeholders review the document before finalizing it.

Best Practices for Creating a Market Research Report

To enhance the effectiveness of your market research report, consider these best practices:

• Stay Objective: Maintain impartiality to ensure the report is unbiased and reliable.
• Use Visuals: Incorporate charts, graphs, and infographics to make data easier to understand and more engaging.
• Keep It Concise: Be clear and concise, avoiding overly complex language or excessive detail that may distract from the key insights.
• Segment the Data: Provide segmented analysis to offer more detailed insights into different customer groups or market segments.
• Update Regularly: Market conditions change rapidly, so it’s important to update your reports periodically to keep them relevant.

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Start leveraging Tome today to enhance the impact of your market research reports and drive meaningful action.

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The Complete Guide to Market Research Agencies

Market research agencies offer a variety of benefits over other market research methods. They are particularly well-suited for conducting surveys and focus groups, as well as collecting data on consumer behaviour.

What are the Market Research Companies

Market research companies provide a wide range of services that can be tailored to meet the specific needs of their clients. These companies conduct research on a variety of issues, including product development, marketing, and customer retention.

Market research is a valuable tool for businesses of all sizes . It can help them to determine which products and services to produce, market, and sell. Market research can be conducted in a variety of ways, depending on the needs of the client.

Some companies specialise in conducting surveys or interviews; others focus exclusively on collecting data through observation or measurement. Regardless of the approach, market researchers aim to provide their clients with unbiased information to help them make informed decisions about their business.

Why Do You Need To Contact Market Research Companies

Many people may not realise it, but market research is an important part of any business. By conducting market research, businesses can identify what products and services are popular with their target audience, as well as figure out what needs they may not be meeting. Not only that but by understanding consumer needs and wants, businesses can develop products and services that better meet those needs.

There are many reasons why market research is so important. First, businesses can use this information to create new products or services that appeal to their target audience. In addition, by knowing what consumers want, businesses can ensure they are providing the right product or service at the right time.

Finally, by gauging customer sentiment and feedback, businesses can keep track of how their product or service is being perceived and make necessary adjustments accordingly.

Factors that Need to Consider in Selecting Market Research Companies

1. same field.

To make an informed decision about which market research company to use, it is important to understand the benefits and advantages of each. The same field is one of the factors that need to be considered. Below are two reasons why using a market research company with a similar focus can be advantageous:

• Shared Expertise: When selecting a market research company, it is important to find one with which you share expertise. This will allow for more effective communication and collaboration between the two groups, resulting in better results.
• Reduced Cost: When working with a market research company with which you share expertise, there will likely be reduced costs associated with the project. This is because the two parties will already have some knowledge and understanding of each other’s work environment and procedures.

2. Experiences

There are many market research companies available on the market, and it can be difficult to know which one is right for your needs. This is why it is important to consider the benefits, advantages and uses of each company before making a decision. Here are two reasons why you should consider experiences when selecting a market research company:

• Experiences matter when selecting a market research company because they provide users with real-world examples of their services. This means that you can be confident that the company will be able to meet your needs.
• Experiences also tend to have a strong advantage in customer service. This is because the employees at these companies are familiar with the products and services that they offer, which makes them better equipped to help you out if something goes wrong.

3. Efficiency

When conducting market research, it is important to find a company that offers the best possible efficiency and value for your money. Here are two key benefits to consider when selecting a market research company:

One of the most important factors to consider when selecting a market research company is its efficiency. Companies that can provide high-quality research at a reasonable price are often the best choice because they can save you time and money.

Another advantage to choosing a market research company with efficient terms is that you will not have to wait long for your results. Many companies offer quick turnaround times, which means you can get started on your project quickly and get the information you need without waiting weeks or months for results.

4. Flexibility

Flexibility is one of the factors that need to be considered when selecting a market research company. Benefits of being flexible include the ability to adapt to changing needs, as well as being able to meet deadlines. The advantages of being flexible include lower costs and increased profits. There are many uses for flexibility, including when choosing a research company:

• When looking for a research company that can provide quick response times or if you need a research company with a wide range of services, flexibility is important.
• Some businesses prefer to work with flexible companies because it allows for more creative ideas and potentially better outcomes.
• Working with different research companies helps ensure there is always someone available to help meet your needs.

5. Open to You

Openness is one of the factors that need to Consider in Selecting Market Research Companies. The most obvious benefit of being open is that it allows the research company to share its data and research findings with clients.

This openness allows for a deeper level of communication and collaboration , which can lead to better results for both parties. In addition, being open also allows customers to provide feedback and suggestions, which can help improve the quality of the research provided.

For starters, it facilitates better communication between research participants and companies. This leads to more accurate results because customers can provide feedback directly to the researchers. Additionally, being open allows researchers to keep an eye on new trends and developments, which can help them improve their artistry.

In conclusion, these agencies play an important role in helping businesses identify and understand their customer base. They can provide valuable insight into what customers want and need, which can help businesses make more informed decisions and improve their offerings.

What is the best way to choose a market research agency?

Referrals from past clients with similar business objectives are especially helpful . After that, ask the references how the research was used by them. If you work with a good market research firm, they will be more than happy to connect you with satisfied clients who rely on their research to make informed decisions.

When might a market researcher be hired?

When exploring new markets and products, market research consultants can be extremely valuable.

Is market research well compensated?

Marketing researchers earn an average salary of $94,997 annually as of Nov 9, 2022. That costs approximately $45.67 an hour if you need a simple salary calculator. A weekly wage of $1,826 or a monthly income of $7,916 is equivalent to this.

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Market Research in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Instant access to hundreds of data points and trends.

• Market estimates from
• Competitive analysis, industry segmentation, financial benchmarks
• Incorporates SWOT, Porter's Five Forces and risk management frameworks
• PDF report or online database with Word, Excel and PowerPoint export options

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Industry statistics and trends.

Access all data and statistics with purchase. View purchase options.

Market Research in the US

Industry Revenue

Total value and annual change from . Includes 5-year outlook.

Access the 5-year outlook with purchase. View purchase options

Trends and Insights

Market size is projected to over the next five years.

Market share concentration for the Market Research industry in the US is , which means the top four companies generate of industry revenue.

The average concentration in the sector in the United States is .

Products & Services Segmentation

Industry revenue broken down by key product and services lines.

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Table of Contents

About this industry, industry definition, what's included in this industry, industry code, related industries, domestic industries, competitors, complementors, international industries, performance, key takeaways, revenue highlights, employment highlights, business highlights, profit highlights, current performance.

What's driving current industry performance in the Market Research in the US industry?

What's driving the Market Research in the US industry outlook?

What influences volatility in the Market Research in the US industry?

• Industry Volatility vs. Revenue Growth Matrix

What determines the industry life cycle stage in the Market Research in the US industry?

• Industry Life Cycle Matrix

Products and Markets

Products and services.

• Products and Services Segmentation

How are the Market Research in the US industry's products and services performing?

What are innovations in the Market Research in the US industry's products and services?

Major Markets

• Major Market Segmentation

What influences demand in the Market Research in the US industry?

International Trade

• Industry Concentration of Imports by Country
• Industry Concentration of Exports by Country
• Industry Trade Balance by Country

What are the import trends in the Market Research in the US industry?

What are the export trends in the Market Research in the US industry?

Geographic Breakdown

Business locations.

• Share of Total Industry Establishments by Region ( )

Data Tables

• Number of Establishments by Region ( )
• Share of Establishments vs. Population of Each Region

What regions are businesses in the Market Research in the US industry located?

Competitive Forces

Concentration.

• Combined Market Share of the Four Largest Companies in This Industry ( )
• Share of Total Enterprises by Employment Size

What impacts market share in the Market Research in the US industry?

Barriers to Entry

What challenges do potential entrants in the Market Research in the US industry?

Substitutes

What are substitutes in the Market Research in the US industry?

Buyer and Supplier Power

• Upstream Buyers and Downstream Suppliers in the Market Research in the US industry

What power do buyers and suppliers have over the Market Research industry in the US?

Market Share

Top companies by market share:

• Market share
• Profit Margin

Company Snapshots

Company details, summary, charts and analysis available for

Company Details

• Total revenue
• Total operating income
• Total employees
• Industry market share

Company Summary

• Description
• Brands and trading names
• Other industries

What's influencing the company's performance?

External Environment

External drivers.

What demographic and macroeconomic factors impact the Market Research in the US industry?

Regulation and Policy

What regulations impact the Market Research in the US industry?

What assistance is available to the Market Research in the US industry?

Financial Benchmarks

Cost structure.

• Share of Economy vs. Investment Matrix
• Depreciation

What trends impact cost in the Market Research in the US industry?

Financial Ratios

• 3-4 Industry Multiples (2018-2023)
• 15-20 Income Statement Line Items (2018-2023)
• 20-30 Balance Sheet Line Items (2018-2023)
• 7-10 Liquidity Ratios (2018-2023)
• 1-5 Coverage Ratios (2018-2023)
• 3-4 Leverage Ratios (2018-2023)
• 3-5 Operating Ratios (2018-2023)
• 5 Cash Flow and Debt Service Ratios (2018-2023)
• 1 Tax Structure Ratio (2018-2023)

Data tables

• IVA/Revenue ( )
• Imports/Demand ( )
• Exports/Revenue ( )
• Revenue per Employee ( )
• Wages/Revenue ( )
• Employees per Establishment ( )
• Average Wage ( )

Key Statistics

Industry data.

Including values and annual change:

• Revenue ( )
• Establishments ( )
• Enterprises ( )
• Employment ( )
• Exports ( )
• Imports ( )

Frequently Asked Questions

What is the market size of the market research industry in the us.

The market size of the Market Research industry in the US is measured at in .

How fast is the Market Research in the US market projected to grow in the future?

Over the next five years, the Market Research in the US market is expected to . See purchase options to view the full report and get access to IBISWorld's forecast for the Market Research in the US from up to .

What factors are influencing the Market Research industry in the US market trends?

Key drivers of the Market Research in the US market include .

What are the main product lines for the Market Research in the US market?

The Market Research in the US market offers products and services including .

Which companies are the largest players in the Market Research industry in the US?

Top companies in the Market Research industry in the US, based on the revenue generated within the industry, includes .

How many people are employed in the Market Research industry in the US?

The Market Research industry in the US has employees in United States in .

How concentrated is the Market Research market in the United States?

Market share concentration is for the Market Research industry in the US, with the top four companies generating of market revenue in United States in . The level of competition is overall, but is highest among smaller industry players.

Methodology

Where does ibisworld source its data.

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.

Deeper industry insights drive better business outcomes. See for yourself with your report or membership purchase.

Discover how 30+ pages of industry data and analysis can give you the edge you need..

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• Customer Demographics
• Economic Indicators
• Industry Statistics
• Advertising
• Industry Experts

Market Research: Market Research Reports

Market Research Definition

Market research considers industry products, markets, and customers. Market research reports may include information about the industry's competitive landscape, industry trends, key competitors, industry size and outlook. Market research companies advise their clients about the positive or negative prospects for an industry or product. 

Market research reports are produced for either a specific client (likely to remain private) or for a collection of market research reports designed to appeal to a number of subscribers. Some market research companies may post industry news in a press release; however, you do not want to generate a report sale, as reports are very expensive. 

The University Library subscribes to two market research collections: IBISWorld, which is an excellent resource for small business research, and Passport (GMID), which is an excellent resource for global and country specific industry and product information. 

Market Research Collections

• IBISWorld United States and Canadian industry reports organized by NAICS codes; plus specialized US small business market research reports which are very relevant to Canadian entrepreneurs. New to our subcription this year is the Wizerd Tool, which is a premium filtering tool that allows you to find needle in a haystack industries that fit your ideal level and trend criteria. The Wizard Tool can help identify industries to fit your appetite based on facts and data, not just rumors or other secondary opinions. Many of the most advanced users access this tool for prospecting into new growth industries and to better implement their strategies. And also, the Canadian Financial Ratios. This collection helps you assess companies' strengths and efficiencies and benchmark them against industry norms. more... less... Access is restricted to current students, faculty, and staff of the University of Saskatchewan, and walk-in users, for educational, research, and non-commercial personal use. Systematic copying or downloading of electronic resource content is not permitted by Canadian and international copyright law.
• Passport (GMID) Market research reports with focus upon global/ national consumer markets. Also includes company profiles (emphasis upon products not financial fundamentals) and economic data. Dashboard tool can be used to create images of industry performance and company markets. more... less... Access is restricted to current students, faculty, and staff of the University of Saskatchewan for educational, research, and non-commercial personal use. Systematic copying or downloading of electronic resource content is not permitted by Canadian and international copyright law.
• ABI/INFORM Collection Includes Marketline and Business Monitor industry reports. more... less... Access is restricted to current students, faculty, and staff of the University of Saskatchewan, and walk-in users, for educational, research, and non-commercial personal use. Systematic copying or downloading of electronic resource content is not permitted by Canadian and international copyright law.
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9 Best Marketing Research Methods to Know Your Buyer Better [+ Examples]

Published: August 08, 2024

One of the most underrated skills you can have as a marketer is marketing research — which is great news for this unapologetic cyber sleuth.

From brand design and product development to buyer personas and competitive analysis, I’ve researched a number of initiatives in my decade-long marketing career.

And let me tell you: having the right marketing research methods in your toolbox is a must.

Market research is the secret to crafting a strategy that will truly help you accomplish your goals. The good news is there is no shortage of options.

How to Choose a Marketing Research Method

Thanks to the Internet, we have more marketing research (or market research) methods at our fingertips than ever, but they’re not all created equal. Let’s quickly go over how to choose the right one.

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1. Identify your objective.

What are you researching? Do you need to understand your audience better? How about your competition? Or maybe you want to know more about your customer’s feelings about a specific product.

Before starting your research, take some time to identify precisely what you’re looking for. This could be a goal you want to reach, a problem you need to solve, or a question you need to answer.

For example, an objective may be as foundational as understanding your ideal customer better to create new buyer personas for your marketing agency (pause for flashbacks to my former life).

Or if you’re an organic sode company, it could be trying to learn what flavors people are craving.

2. Determine what type of data and research you need.

Next, determine what data type will best answer the problems or questions you identified. There are primarily two types: qualitative and quantitative. (Sound familiar, right?)

• Qualitative Data is non-numerical information, like subjective characteristics, opinions, and feelings. It’s pretty open to interpretation and descriptive, but it’s also harder to measure. This type of data can be collected through interviews, observations, and open-ended questions.
• Quantitative Data , on the other hand, is numerical information, such as quantities, sizes, amounts, or percentages. It’s measurable and usually pretty hard to argue with, coming from a reputable source. It can be derived through surveys, experiments, or statistical analysis.

Understanding the differences between qualitative and quantitative data will help you pinpoint which research methods will yield the desired results.

For instance, thinking of our earlier examples, qualitative data would usually be best suited for buyer personas, while quantitative data is more useful for the soda flavors.

However, truth be told, the two really work together.

Qualitative conclusions are usually drawn from quantitative, numerical data. So, you’ll likely need both to get the complete picture of your subject.

For example, if your quantitative data says 70% of people are Team Black and only 30% are Team Green — Shout out to my fellow House of the Dragon fans — your qualitative data will say people support Black more than Green.

(As they should.)

Primary Research vs Secondary Research

You’ll also want to understand the difference between primary and secondary research.

Primary research involves collecting new, original data directly from the source (say, your target market). In other words, it’s information gathered first-hand that wasn’t found elsewhere.

Some examples include conducting experiments, surveys, interviews, observations, or focus groups.

Meanwhile, secondary research is the analysis and interpretation of existing data collected from others. Think of this like what we used to do for school projects: We would read a book, scour the internet, or pull insights from others to work from.

So, which is better?

Personally, I say any research is good research, but if you have the time and resources, primary research is hard to top. With it, you don’t have to worry about your source's credibility or how relevant it is to your specific objective.

You are in full control and best equipped to get the reliable information you need.

3. Put it all together.

Once you know your objective and what kind of data you want, you’re ready to select your marketing research method.

For instance, let’s say you’re a restaurant trying to see how attendees felt about the Speed Dating event you hosted last week.

You shouldn’t run a field experiment or download a third-party report on speed dating events; those would be useless to you. You need to conduct a survey that allows you to ask pointed questions about the event.

This would yield both qualitative and quantitative data you can use to improve and bring together more love birds next time around.

Best Market Research Methods for 2024

Now that you know what you’re looking for in a marketing research method, let’s dive into the best options.

Note: According to HubSpot’s 2024 State of Marketing report, understanding customers and their needs is one of the biggest challenges facing marketers today. The options we discuss are great consumer research methodologies , but they can also be used for other areas.

Primary Research

1. interviews.

Interviews are a form of primary research where you ask people specific questions about a topic or theme. They typically deliver qualitative information.

I’ve conducted many interviews for marketing purposes, but I’ve also done many for journalistic purposes, like this profile on comedian Zarna Garg . There’s no better way to gather candid, open-ended insights in my book, but that doesn’t mean they’re a cure-all.

What I like: Real-time conversations allow you to ask different questions if you’re not getting the information you need. They also push interviewees to respond quickly, which can result in more authentic answers.

What I dislike: They can be time-consuming and harder to measure (read: get quantitative data) unless you ask pointed yes or no questions.

Best for: Creating buyer personas or getting feedback on customer experience, a product, or content.

2. Focus Groups

Focus groups are similar to conducting interviews but on a larger scale.

In marketing and business, this typically means getting a small group together in a room (or Zoom), asking them questions about various topics you are researching. You record and/or observe their responses to then take action.

They are ideal for collecting long-form, open-ended feedback, and subjective opinions.

One well-known focus group you may remember was run by Domino’s Pizza in 2009 .

After poor ratings and dropping over $100 million in revenue, the brand conducted focus groups with real customers to learn where they could have done better.

It was met with comments like “worst excuse for pizza I’ve ever had” and “the crust tastes like cardboard.” But rather than running from the tough love, it took the hit and completely overhauled its recipes.

The team admitted their missteps and returned to the market with better food and a campaign detailing their “Pizza Turn Around.”

The result? The brand won a ton of praise for its willingness to take feedback, efforts to do right by its consumers, and clever campaign. But, most importantly, revenue for Domino’s rose by 14.3% over the previous year.

The brand continues to conduct focus groups and share real footage from them in its promotion:

What I like: Similar to interviewing, you can dig deeper and pivot as needed due to the real-time nature. They’re personal and detailed.

What I dislike: Once again, they can be time-consuming and make it difficult to get quantitative data. There is also a chance some participants may overshadow others.

Best for: Product research or development

Pro tip: Need help planning your focus group? Our free Market Research Kit includes a handy template to start organizing your thoughts in addition to a SWOT Analysis Template, Survey Template, Focus Group Template, Presentation Template, Five Forces Industry Analysis Template, and an instructional guide for all of them. Download yours here now.

3. Surveys or Polls

Surveys are a form of primary research where individuals are asked a collection of questions. It can take many different forms.

They could be in person, over the phone or video call, by email, via an online form, or even on social media. Questions can be also open-ended or closed to deliver qualitative or quantitative information.

A great example of a close-ended survey is HubSpot’s annual State of Marketing .

In the State of Marketing, HubSpot asks marketing professionals from around the world a series of multiple-choice questions to gather data on the state of the marketing industry and to identify trends.

The survey covers various topics related to marketing strategies, tactics, tools, and challenges that marketers face. It aims to provide benchmarks to help you make informed decisions about your marketing.

It also helps us understand where our customers’ heads are so we can better evolve our products to meet their needs.

Apple is no stranger to surveys, either.

In 2011, the tech giant launched Apple Customer Pulse , which it described as “an online community of Apple product users who provide input on a variety of subjects and issues concerning Apple.”

"For example, we did a large voluntary survey of email subscribers and top readers a few years back."

While these readers gave us a long list of topics, formats, or content types they wanted to see, they sometimes engaged more with content types they didn’t select or favor as much on the surveys when we ran follow-up ‘in the wild’ tests, like A/B testing.”  

Pepsi saw similar results when it ran its iconic field experiment, “The Pepsi Challenge” for the first time in 1975.

The beverage brand set up tables at malls, beaches, and other public locations and ran a blindfolded taste test. Shoppers were given two cups of soda, one containing Pepsi, the other Coca-Cola (Pepsi’s biggest competitor). They were then asked to taste both and report which they preferred.

People overwhelmingly preferred Pepsi, and the brand has repeated the experiment multiple times over the years to the same results.

What I like: It yields qualitative and quantitative data and can make for engaging marketing content, especially in the digital age.

What I dislike: It can be very time-consuming. And, if you’re not careful, there is a high risk for scientific error.

Best for: Product testing and competitive analysis

Pro tip:  " Don’t make critical business decisions off of just one data set," advises Pamela Bump. "Use the survey, competitive intelligence, external data, or even a focus group to give you one layer of ideas or a short-list for improvements or solutions to test. Then gather your own fresh data to test in an experiment or trial and better refine your data-backed strategy."

Secondary Research

8. public domain or third-party research.

While original data is always a plus, there are plenty of external resources you can access online and even at a library when you’re limited on time or resources.

Some reputable resources you can use include:

• Pew Research Center
• McKinley Global Institute
• Relevant Global or Government Organizations (i.e United Nations or NASA)

It’s also smart to turn to reputable organizations that are specific to your industry or field. For instance, if you’re a gardening or landscaping company, you may want to pull statistics from the Environmental Protection Agency (EPA).

If you’re a digital marketing agency, you could look to Google Research or HubSpot Research . (Hey, I know them!)

What I like: You can save time on gathering data and spend more time on analyzing. You can also rest assured the data is from a source you trust.

What I dislike: You may not find data specific to your needs.

Best for: Companies under a time or resource crunch, adding factual support to content

Pro tip: Fellow HubSpotter Iskiev suggests using third-party data to inspire your original research. “Sometimes, I use public third-party data for ideas and inspiration. Once I have written my survey and gotten all my ideas out, I read similar reports from other sources and usually end up with useful additions for my own research.”

9. Buy Research

If the data you need isn’t available publicly and you can’t do your own market research, you can also buy some. There are many reputable analytics companies that offer subscriptions to access their data. Statista is one of my favorites, but there’s also Euromonitor , Mintel , and BCC Research .

What I like: Same as public domain research

What I dislike: You may not find data specific to your needs. It also adds to your expenses.

Best for: Companies under a time or resource crunch or adding factual support to content

Which marketing research method should you use?

You’re not going to like my answer, but “it depends.” The best marketing research method for you will depend on your objective and data needs, but also your budget and timeline.

My advice? Aim for a mix of quantitative and qualitative data. If you can do your own original research, awesome. But if not, don’t beat yourself up. Lean into free or low-cost tools . You could do primary research for qualitative data, then tap public sources for quantitative data. Or perhaps the reverse is best for you.

Whatever your marketing research method mix, take the time to think it through and ensure you’re left with information that will truly help you achieve your goals.

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EPA Issues Emergency Order to Stop Use of Pesticide Dacthal to Address Serious Health Risk

August 6, 2024

WASHINGTON – Today, Aug. 6, the U.S. Environmental Protection Agency is announcing the emergency suspension of all registrations of the pesticide dimethyl tetrachloroterephthalate (DCPA or Dacthal) under the Federal Insecticide, Fungicide and Rodenticide Act (FIFRA). This is the first time in almost 40 years EPA has taken this type of emergency action, following several years of unprecedented efforts by the Biden-Harris Administration to require the submission of long-overdue data and then assess and address the risk this pesticide poses.

EPA has taken this action because unborn babies whose pregnant mothers are exposed to DCPA, sometimes without even knowing the exposure has occurred, could experience changes to fetal thyroid hormone levels, and these changes are generally linked to low birth weight, impaired brain development, decreased IQ, and impaired motor skills later in life, some of which may be irreversible.

“DCPA is so dangerous that it needs to be removed from the market immediately,”  said Assistant Administrator for the Office of Chemical Safety and Pollution Prevention Michal Freedhoff . “It’s EPA’s job to protect people from exposure to dangerous chemicals. In this case, pregnant women who may never even know they were exposed could give birth to babies that experience irreversible lifelong health problems. That’s why for the first time in almost 40 years, EPA is using its emergency suspension authority to stop the use of a pesticide.”

“Farmworkers face burdensome conditions in the fields and often face exposure to harmful pesticides while working to feed our nation. I applaud the emergency action by the EPA which prioritizes farmworker health and safety, especially for pregnant women, by suspending this harmful chemical from our agricultural systems. We must continue to build on this progress and ensure all farmworkers are given the protection, worker’s rights, and overtime pay they deserve,” said Congressman Raúl Grijalva (AZ-07).

“Alianza is pleased to see the EPA make this historic decision.  As an organization led by farmworker women, we know intimately the harm that pesticides, including dimethyl tetrachloroterephthalate (DCPA or Dacthal), can inflict on our bodies and communities.  This emergency decision is a great first step that we hope will be in a series of others that are based on listening to farmworkers, protecting our reproductive health, and safeguarding our families,” said Mily Treviño Sauceda, Executive Director of Alianza Nacional de Campesinas .

Background on DCPA and Biden-Harris Administration Efforts to Assess and Address Risks

DCPA is a pesticide registered to control weeds in both agricultural and non-agricultural settings, but is primarily used on crops such as broccoli, Brussels sprouts, cabbage and onions. DCPA is currently undergoing registration review, a process that requires reevaluating registered pesticides every 15 years to ensure they cause no unreasonable adverse effects on human health or the environment.

In deciding whether to issue today’s Emergency Order, EPA consulted with the U.S. Department of Agriculture to understand how growers use DCPA and alternatives to this pesticide. In 2013, the agency issued a Data Call-In (DCI) to AMVAC Chemical Corporation, the sole manufacturer of DCPA, requiring it to submit more than 20 studies to support the existing registrations of DCPA. The required data included a comprehensive study of the effects of DCPA on thyroid development and function in adults and in developing young before and after birth, that was due by January 2016. Several of the studies that AMVAC submitted from 2013-2021 were considered insufficient to address the DCI, while the thyroid study and other studies were not submitted at all.

In  April 2022 , EPA issued a very rarely used Notice of Intent to Suspend the DCPA technical-grade product (used to manufacture end-use products) based on AMVAC’s failure to submit the complete set of required data for almost 10 years, including the thyroid study. While AMVAC submitted the required thyroid study in August 2022, EPA suspended the registration based solely on AMVAC’s continued failure to submit other outstanding data on Aug. 22, 2023, following an administrative hearing.  In November 2023, the data submission suspension was lifted after AMVAC submitted sufficient data. Most DCPA use on  turf was voluntarily canceled  by AMVAC in December 2023, but unacceptable risks from other uses remained.

In May 2023, EPA released its assessment on the risks of occupational and residential exposure to products containing DCPA, following its analysis of the thyroid study submitted by AMVAC. The assessment found health risks associated with DCPA use and application, even when personal protective equipment and engineering controls are used. The most serious risks are to the unborn babies of pregnant individuals. EPA estimates that some pregnant individuals handling DCPA products could be subjected to exposures four to 20 times greater than what EPA has estimated is safe for unborn babies.

Also of concern are risks to unborn babies of pregnant individuals entering or working in areas where DCPA has already been applied (especially post-application workers involved in tasks such as transplanting, weeding and harvesting). Current product labels specify that entry into treated fields must be restricted for 12 hours after application. However, the evidence indicates that for many crops and tasks, levels of DCPA in a treated field remain at unsafe levels for 25 days or more. Spray drift (the movement of pesticide through the air at the time of application or soon after, to any site other than the area intended) from pesticide application could also put at risk the unborn babies of pregnant individuals living near areas where DCPA is used.

Since the release of EPA’s 2023 assessment,  AMVAC has proposed several changes  to the DCPA registrations, including the cancellation of DCPA products registered for use on turf. Those cancellations practically eliminate exposures to DCPA from recreational activities on and around turf. But according to EPA’s analysis, AMVAC’s proposed changes to agricultural uses of DCPA do not adequately address the serious health risks for people who work with and around DCPA. 

In April 2024, EPA issued a public warning regarding the significant health risks to unborn babies of pregnant individuals exposed to DCPA and its intent to pursue action to address the serious, and in some instances, permanent, and irreversible health risks associated with the pesticide as quickly as possible. In a letter to AMVAC dated March 27, 2024, EPA restated the risks the agency found and noted that the agency would be pursuing regulatory options as soon as possible which could include cancelling the pesticide or seeking an emergency suspension.

When serious risks are identified, EPA can take action under FIFRA to suspend or cancel a pesticide. Taking such action is resource and time intensive, partly due to the procedural requirements of FIFRA. A cancellation proceeding may take at least several months (if uncontested by the registrant) or potentially several years (if contested by the registrant, thus triggering an administrative hearing and any subsequent appeal of a cancellation order). FIFRA also allows EPA to seek a suspension of a pesticide product while cancellation proceedings are ongoing if the Administrator determines it is necessary to prevent an imminent hazard.  EPA Administrator Regan has determined that, due to the serious and imminent harm posed by DCPA, an emergency exists such that this order of suspension effective immediately is necessary. EPA intends to issue a notice of intent to cancel the DCPA products within the next 90 days.

The Emergency Order is effective immediately. EPA determined that the continued sale and use of DCPA products during the time it would take to follow the normal cancellation process poses an imminent hazard to unborn babies. While AMVAC has attempted to address these concerns, EPA has determined there are no practical mitigation measures that can be put in place to allow DCPA’s continued use.

Additional information is available in the DCPA registration review docket EPA-HQ-OPP-2011-0374 .  

Read the DCPA Emergency Order .

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The Times found an active trade in Nvidia chips in China despite U.S. national security restrictions, as well as unreported incidents of how the technology had been used to further defense research.

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By Ana Swanson

The United States has tried, with some success, to halt China’s progress with artificial intelligence amid concerns that the technology is helping modernize the Chinese military.

U.S. officials have set up one of the most extensive tech blockades ever attempted, banning the export to China of advanced A.I. chips, which are primarily made by Nvidia, a Silicon Valley firm that is one of the world’s most valuable companies.

But given the vast profits at stake, businesses around the world have found ways to skirt the rules, an investigation by The New York Times has found.

Interviews with more than 85 current and former U.S. officials, executives and industry analysts, as well as reviews of corporate records and visits to companies in Beijing, Kunshan and Shenzhen, showed that there is an active trade in restricted A.I. technology in China — part of a global effort to help China circumvent U.S. national security restrictions.

Here are some takeaways from our investigation.

An underground marketplace of smugglers is funneling A.I. chips into China.

The Times spoke with representatives of 11 companies in China that said they sold or transported banned Nvidia chips, and found dozens more businesses offering them online.

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