Best Companies in Marketing Research

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Best Companies in Marketing Research

Introduction to Marketing Research

Marketing Research is defined as the practice of gathering data from the market, requires deriving an effective marketing plan (Aaker, D. 2001). The Data includes information regarding customers' requirement, competitive environment, competitors' strengths and weaknesses, consumer demographics and various other aspects that are need to be fulfilled in a marketing plan. It provides ease to solve marketing problems and issues of any particular company, and meet the business challenges effectively.

Marketing Research is commonly divided into two different types; Primary research and Secondary research. Primary Research is the kind of research which a company has to conduct in the real environment. Such researches are done when there are no existing relevant data available on the researching topic. Companies do some time conduct it by them, but most of the time research firms, like Brain Juicer and A. C. Nelson, are hired to conduct such researches. Whereas, on the other hand, Secondary Research is a type of research in which data is already available, and researchers just compile, organize and extract their relevant data from sources. The sources could be reports and surveys conducted by the government, trade unions or any other company, which already had collected the data previously (Aaker, D. 2001).

Best Companies in Marketing Research

There are various multinational marketing research firms operating across the globe, which are considered as some of the best companies of the work. Though various people think that marketing research is a very dry profession but if you are a core marketing researcher than it is rather more creative than dry. Companies like Nelson, GfK, Anderson Analytics, I-tracks, Vision Critical etc.

There are various similarities in the marketing research methodologies of these companies, however there supremacy depends upon their reach, method of comprehending data and accuracy of the data, which one can only get through sound knowledge of the population, socio-economic class of the society and ability to extract the right sample for the proper research. If any company follows these three principles correctly, it is research will always come out genuine and precise.

According to Honomichl list of leading marketing research companies, the top three companies are The Nelson Co, Kantar and IMS health Inc. From last 3 years, these three companies are retaining their positions at their appropriate levels (Honomichl, J. 2011). Nelson Co. was founded in 1923 and in 2010 its research revenue for United States only, was $2,407 million. Nelson conducts two types of researches, media research and consumer research. The two segments are named as Consumer Watch and Consumer Buy. The Consumer watch segment of Nelson includes the research of Television, Online and Mobile platform and provides viewership data to media industry. The consumer buy segment deals in retail measurement data, which includes data, related to consumer that generally being provided to goods manufacturing industries. The global revenue of Nelson in 2010 was $5.1 billion (Honomichl, J. 2011).

Kantar is also leading is the research industry next to ...