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For the past few weeks, there are two big debates raging in our office:

  • Will the configurator eventually replace conjoint in all its forms?
  • Was it the right call to trade Donovan McNabb to the Redskins?

On the surface the only thing connecting them is that we are a choice focused market research company located just outside of Philly, but in reality they are both the same debates...namely, when is it time for the superstar to move on and allow a new star to take charge? In both cases, the answer will depend on your needs and your perspective...in other words, there is no answer that everyone will agree with.

Some variation of conjoint (discrete choice, adaptive, etc) has been with us now for nearly 40 years. It has proven to be a very effective means of understanding the consumer's thinking process...especially when it comes to developing new products. At the same time, it is not without its flaws.

You know them, right? The friends you log into Facebook to check out. They always have something interesting to share and you like to see what it is. That process is one way of measuring influence in social networks and a rather good one at that, according to recent research by Michael TrusovAnand Bodapati and Randy Bucklin. They set out to identify influencers in a social network and did so using some interesting data and analytics. Here’s the story.

Tagged in: Social Media

Putting Money and Mouth Together

Posted by on in Market Research

Ever heard of a Commitment Contract? No we are not talking about marriage. A commitment contract is one where you commit to doing something and sign a contract. If you don’t do what you committed to, the terms of the contract go into effect. The terms are set up in such a way that you could end up paying a penalty if you fail to honor the contract. In other words the incentives are aligned to elicit a specific behavior. The kicker is that you set up the contract and the penalty.

During times of upheaval do people naturally choose what is familiar or don’t they? The notion of “comfort food” seems to imply that when faced with trying situations people take comfort in certain old favorites that, well, comfort them. This is conventional wisdom and as we know researchers like to question said wisdom. That is what Stacy Wood set out to do and her findings offer interesting implications for marketers.

Tagged in: Consumer Behavior Food

I'm a regular reader of the Market Research Heretic Blog . The banner above his blog posts reads "Market Research Death Watch". Many great points are made about how we take respondents for granted and how many survey instruments simultaneously gather useless data and reduce the chances of that respondent ever doing another survey again. Most important, the point is made that the market research industry is resistant to change and ultimately that will lead to its demise.

The arrival today of the latest Honomichl 50 list certainly supports the notion that the industry is in trouble. The numbers are the most brutal I've ever seen. Revenue has declined and when you focus only on straight research firms (those doing primary qualitative and quantitative research) that decline is even larger. Employment has dropped even faster (and this is measuring research firm employment, I suspect client side researchers were hit even harder). Jack Honomichl is certainly dour in his column, but I think if anything he is understanding how bad a hit research took this year.

The question is, were the results of this year and last (2008 also showed declines) just related to the recession or do they reflect a trend that will continue long after the recession is officially over? My guess is, we will see some recovery with the better economy this year, but the heretic's warnings should not be ignored.

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