Joseph Wylie, MSMR Student and Blog Writer- October 13, 2017 at 10:21am
If there is one specific thing I have learned about marketing research while in my first month in the MSMR program (let the record show, I have learned more than one thing), it’s that the field of marketing research is extremely dynamic. The ever-changing landscape is, in part, due to select research firms implementing innovative techniques in the emerging sub-sections of the industry. The purpose of The 2017 American Marketing Association (AMA) Gold Global Top 25 Report is to highlight those players in the industry that have become known for capitalizing on new methods and technologies in the field of marketing research.
On the first day of our Market Research Design class, Michael Brereton, former MaritzCX CEO, current MSMR faculty, and co-author of this report, explained the importance of approaching his course by way of comprehension, followed by deduction and consultation. We soon learned that this is also the best way to go about engaging in market research in the field. He explained that:
- By comprehending data, you are essentially asking “what happened?”
- When you enter the deduction stage, you ask yourself “why did this happen?”
- And finally, consultation leads you to the question “what does this mean?”
These 25 companies distinguish themselves from the competition by their ability to expand upon the question “what does this mean?” as part of the consultation stage.
AMA only began tracking the evolution of marketing research trends through their Global Top 25 reports three years ago. With the help of the Insights Association and Michigan State University, these reports will be able to set a precedent in providing industry professionals with the information needed to best know what directions the field of marketing research is headed. It is also important to note that among the Top 25 research firms mentioned, thirteen specialize in measurement and tracking services.
For those of us who are new to the field, these changes seem to mark the beginnings of a revolution in which market insights drive strategic direction instead of the other way around.