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Bee a Good Researcher!

Posted by on in Market Research

bee_smallResearchers are sometimes described as busy bees but I had no idea that the opposite is literally true till I heard this NPR report on honey bees . Apparently they are wonderful market researchers!

Here's the back story. Cornell Professor Thomas Seeley is a biologist who studies swarm intelligence. Effectively he studies the idea that a group can be smarter than the individuals in the group. Replace "group" with "crowd" and of course the idea is familiar to us as the Wisdom of Crowds. But can such behavior really occur among animals too? Professor Seeley has spent 30 years studying bees and he thinks the answer is emphatically yes. That brings us to the bees-as-market-researchers hypothesis.

Tagged in: Market Research

A new book attempts to make behavioral economics interesting and approachable by couching it in the world of sports. Personally I try to avoid books on economics, but I did find a review quite interesting. Not only did it help to explain why the Philadelphia Flyers lost the 1980 Stanley Cup, but it also helps to illustrate the limitations of crowd sourcing and the reality of Asymmetry in key driver analysis.

Behavioral economics studies the role of emotion in economic decision making (something marketers need to master). In application it can help to explain the illogical decision making of shoppers. A classic example of this is when someone spends $1000 on a product they don't need thanks to a price cut of say $200. They will often focus on what they saved ("I saved $200!!!) and not on what they spent or the actual need.

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Blame it on Phone Surveys

Posted by on in Market Research

This is my thesis and I don't have quantitative data to support it. I'm going more on experience than anything else, so feel free to disagree with me. The thesis is that the dominance of phone surveys through at least the last two decades of the 20th century has changed market researchers' thought patterns in ways we are not fully aware of. This has resulted in sub-optimal behavior when it comes to designing research studies. Let me explain a bit more.

The telephone is an aural medium which naturally has restrictions that a visual medium does not have. When you have to ask someone about the two Presidential candidates, aural media work fine. When you ask to rate their satisfaction with a product again it works fine. But what happens when you have to ask about the importance of various features in a new product? Since it is an aural medium, the number of ways of asking the question is very limited. The easiest way to do it is to provide one feature at a time and ask for a rating. But this does not allow any comparison between the features and certainly does not allow trade-off methods to be used.

Tagged in: Market Research

Don't panic. CASRO's government affairs committee isn't warning this will happen and I don't have any evidence that it will. The point of the question is along the lines of "necessity is the mother of invention".

For example, over the past 15 years we have seen a move away from phone data collection and toward the web. Initially the focus was on cutting costs and ensuring the quality of the data were the same. As the industry embraced web, however, we began to use all kinds of innovative techniques that we simply could not do on the phone (or by mail for that matter). So, as we face a future with more and more access to data, I thought it would be interesting to think about what we would do if our traditional tools were simply taken away and we had to go cold turkey.

A good place to focus is Satisfaction research, which is already showing signs of decline. According to Inside Research (February, 2011), spending as a percentage of all MR has dropped in Europe (from 18% in '06 to 13% last year) and is stagnant at best in the states (11% last year which is in line with 12% in '09 and 10% in '08). I suspect this decline is not an indication that firms no longer care about satisfaction. More likely it reflects cheaper data collection methods and a realization that it need not be measured as intensively as in the past.

So in a world with no traditional MR, how will firms measure and impact satisfaction?

 

Can the Truth Wear Off?

Posted by on in Market Research

 

In a very interesting article in The New YorkerJonah Lehrer asks the question can truth Wear Off? So, what is “truth” and what is “wearing off”? In this case truth is that which has been proven by the scientific method (i.e.) experimentally. As the psychologist Jonathan Schooler discovered, experimental effects he had shown very clearly started disappearing into the dreaded land of non-significance over time. That is the “wearing off” part. And it wasn’t just Schooler. Others have seen similar phenomena where published studies when replicated over time have effectively lost their potency. This is a particularly troubling problem for medical science and is practically seen in the number of drugs that are retroactively pulled off the market. As the medical researcher John Ioannidis has shown, there can be substantial harm to society from wrong (but well publicized) results living in the memories of doctors who continue prescribing those drugs or treatments (hormone replacement therapy and daily low doses of aspirin) even when they have proven to be ineffective or harmful. So, the question is, how do effects disappear over time?

Tagged in: Market Research

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