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Home > Business/Finance > Diversified Services > Marketing/Advertising/PR
Market Research Services
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| Published Date:
September 2008
Published By:
First Research, Inc.
Page Count:
10
Order Code:
R3470-1825
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The marketing research services industry in the US includes over 5,500 companies with combined annual revenue of over $12 billion. Large companies include ACNielsen, Burke, Maritz, and Millward Brown, all of which are privately held. The industry is slightly concentrated: the top 50 companies have about 55 percent of industry revenue. The average marketing research firm has annual revenue of about $2.25 million.
COMPETITIVE LANDSCAPE
Demand is driven primarily by the health of the US economy and corporate profits. The profitability of individual companies depends on the quality of the research services delivered and the ability to manage costs. Large companies have advantages in providing a variety of research and ancillary services to large customers, and achieving economies of scale in marketing and computerized operations. Small companies can compete successfully by specializing in a research methodology or in emerging niche knowledge areas. The industry is labor intensive: annual revenue per employee is less than $100,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major services are marketing research, which accounts for over 90 percent of industry revenue, and public opinion polling. Other services include media monitoring and analytic services. Many research firms specialize in 1) a discipline, such as customer satisfaction, human resources, or advertising tracking; 2) an industry segment, such as technology or pharmaceuticals; or 3) marketing services, such as focus groups, polling, or psychographics.
Most market research firms perform primary research - they gather and analyze original ...
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