Out Sourced Market Research
If you have been trained educationally or otherwise to conduct market studies and reports and wants to remain in this knowledge driven sector then online opportunities that will help you set up your own home online market research venture are available.
The business competitive business environment of the modern era leaves little room for speculation. The right strategic choices are paramount to success in the market place. For this, corporate entities need to be abreast with trends and market intelligence and therefore, we find that market research itself has become a booming segment. Value Notes, a market research company, found that large corporations are currently allocating close to $ 5M- $ 100 M towards market research and analysis.
The growing popularity of online marketing has resolved in dependence on online market data. B2B research accounts for 34% of market research efforts in N. America and 25% in Europe.
On reasons for compiling online data, the 81% US research companies cited and 78% of Europeans cited competitive pricing (76% and 75%, respectively). North Americans were particularly intrigued by access to complex target sample groups through the web (62%), while Europeans were more interested in the global reach.
A report by ESOMAR research states that 25 of the top market research companies of the world have returned to market research outsource.
The reasons cited were:
o Economy of scale
o More time for insights
o People shortage
o Operational / technology costs
o Quicker turnover
All these point to an explosion for knowledgeable people who have the ability to produce information that can be used for market intelligence. Please do not forget that this is becoming a very rare breed with very high attrition rates seen in this sector. So, if you are one who wants to make extra money / work at your own pace but still remain in an intellectually challenging field, this is the business for you.