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By: Marissa Rhodes & Bryson Urie

By: Marissa Rhodes & Bryson Urie. “ The sea change wrought by the recession is causing researchers to adjust their processes to prove their worth ”. The New Economy . Consumers and businesses changing decision-making and purchasing strategies The recession- speed and nimbleness

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By: Marissa Rhodes & Bryson Urie

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  1. By: Marissa Rhodes & Bryson Urie

  2. “The sea change wrought by the recession is causing researchers to adjust their processes to prove their worth”

  3. The New Economy • Consumers and businesses changing decision-making and purchasing strategies • The recession- speed and nimbleness • Businesses making more tactical decisions without research • 20-35% of a company’s market research budget on strategic research studies

  4. Changes in Demand • Ravi Parmeswar (Managing Director of Global Consumer & Marketplace Insights ) • Strategic studies • Quarter projections • Information and Risk • What Gives real competency? • Taking action and making successful game time decisions as you experience it • New world order of thinking • Crosses strategic/tactical lines of research. • Example: Euro client of RSCG ( marketing agency in Chicago)

  5. New Market • Mounds of historical data • research studies that were thought to be set in stone are being reviewed. • Product Positioning • Market segmentation • Price elasticity • Projective techniques more acceptable • Open-ended, indirect questioning, word association, and the like • Scenario planning

  6. Online Research • Real time insights • Monitoring web chatter • Faster and cheaper • Cost and time effective • New observational element-What the new ground floor is • What is the next generation of need?

  7. Online Continued • Jamie Baker-Prewitt (senior VP and director, Burke INC, Cincinnati) • Balanced approach to online • Social Media • Tracking Firms • Create flexibility • “We need to try things, identify what works, what doesn't and make changes fast. Companies that don’t do this, simply don’t last”

  8. Questions • How relevant is secondary data? • Is it more valuable to do your own research rather than use secondary data? • What type of decision making is more valuable • Strategic • Tactical

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