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Market Research & Polling Services
First Research, March 2012, Pages: 10
First Research is the leading industry intelligence company that helps sales teams perform faster and smarter, open doors, and close more deals. First Research performs the heavy lifting' by synthesizing hundreds of sources into an easy to digest format that a sales person can consume very quickly to better understand a prospect's business issues.'
Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US market research services industry includes about 4,800 companies with combined annual revenue of about $17 billion. Major companies include Forrester Research, Gartner, IMS Health, SymphonyIRI, and Westat. The industry is concentrated: the top 50 companies generate about 55 percent of industry revenue.
Global market research industry revenue totals about $48 billion per year. The US and EU dominate the global market research industry. Major companies outside the US include Nielsen Holdings (headquartered in the Netherlands); GfK (Germany); Ipsos (France); and INTAGE (Japan).
COMPETITIVE LANDSCAPE
Demand is driven primarily by the health of the US economy and corporate profits. The profitability of individual companies depends on managing costs and maintaining a steady flow of work. Large companies have advantages in providing a variety of research and ancillary services to large customers, and in 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.
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 data....
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