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Changing Client Needs Driving New Research Technologies Marshall Toplansky CEO, Core Strategies President, WiseWindow February 11, 2010
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Are you ready for unprecedented change? Are you ready for the influx of fresh air, new ideas and refined methods in market research? Do you see the change as a problem or an opportunity? Is your ability to leverage advancing technology as strong as you think? Is your perception of how well you address your clients’ changing needs, accurate? It’s time to take a hard look at your business.
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PastCurrentFuture Are you in touch with your client’s changing business environment?
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How vulnerable is your credibility?
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Online Test Mkt.: 2 day set up 2 day response Cost: $0 N= 100,000’s Simple Online Opinion Search: No set up Instant response Cost: $3K/yr. N= millions Traditional Approach New Approach Does traditional research really support speed, flexibility & cost savings? Internet Panel Survey: 2 weeks for simple answer Cost: $15K - $30K n=400 Qualitative: 6 weeks for simple answer Cost: $30K - $80K n=80
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How will you continue to add value?
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Changes in Technology 1980s1946 1950s1960s1970s1990s2000s20052010’s Modern demography is born Demographics and socioeconomics used to segment markets Psychographics take hold Geo-demographic s give new meaning to target market Transactional data and bar code scanners add new layer to data Web analysis tools track Internet usage Fledgling neuromarketing attempts and ethnography emerge RFID mass behavior observation Advanced pattern recognition catalogs mass opinion Changes in Research Methodology Cheaper f- MRI’s standardize brain patterns What changes have occurred?
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Society and Economy Faster, Smaller, Stronger More Integrated More Interactive and Intelligent Produce Things Generate Information Deliver Continuous Experience Information Age Relationship Age Customer Industrial Age Product Proximity to Customer Technology What changes lie ahead?
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What are key new technologies? Emerging technologies: Pattern recognition Mass opinion analysis “Semantic” web Experience leveraging Functional MRI Thought-to-speech/text RFID Two-way engagement Cultural adaptation Translation engines Internet-based TV
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Pattern Recognition More sophisticated computers and software are driving new insights. Lies at the heart of “Relationship Age” business model Connects otherwise unrelated data and opinion Makes sense out of mass observation
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Pattern Recognition Example: Mass Opinion Business Intelligence Offers new capability to assess competitive position based on mass opinion Augments traditional tracker surveys by adding unprompted opinion, automatic subject classification and share of opinion Tracks where opinions are coming from and who most often socializes opinion Sample Mass Opinion BI Share of Opinion Report
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Experience Measurement Experience = Real-time, Two-Way Engagement Essence of relationship Shared experience is key to experience marketing Emerging technologies include: Functional MRI How experiencing something affects the brain Sense/emotion activation RFID (radio-frequency identification) Real –time product evaluation, purchase and usage Instant sharing technologies Multimedia Quick identification of “kindred spirits” Ad hoc community building
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Experience Measurement ExpectationInteractionExperienceRelationship =+ Gaming Formula: Opportunity to triumph over adversity Chance to explore world within – easy fun Desire to alter one’s mental or emotional state Need for social interaction Implication: Translating a similar experience formula could transform your product/service popularity
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Cultural Adaptation Today’s Solution: Text-to-text translation engines (i.e. Google, Language Weaver) Today’s Challenge: Cultural metaphor and context is missing New translation technology not yet powerful enough to substitute for manual translation Global market opportunities are yet to be realized Tomorrow’s Innovation: Rules-Based Natural Language Processing Internet Television (i.e. YouTube, providing greater accessibility to “universal” culture) International partners and co-development Demand for cross-cultural research tools is driven by the global economy.
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How To Get There: Intelligence not just “insight” Technology clients cannot get themselves What will increase my future client value?
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Marshall Toplansky Contact Info: Marshall@wisewindow.com www.wisewindow.com +1.949.856.9155 x 6 Thank you
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