The top misunderstandings in the insights industry
Editor’s note: Barbara Gassaway is the vice president of qualitative research at Ironwood Insights Group and Pete Denman is the client services and marketing manager at Observation Baltimore. This is an edited version of an article that originally appeared under the title “Misconceptions of Market Research.”
While market research is a common practice among countless industries, there remains no shortage of misconceptions. Market research seems self-explanatory but many believe myths like thinking it can be accomplished via strictly “desk research,” or that online surveys are the most viable method to understand consumer beliefs and attitudes. This article will explain a few commonly held misconceptions of the market research Industry.
Misconception 1: Focus groups are the best marketing research method
Each research effort presents a unique goal and should be treated as such. While qualitative research methods like focus groups may be great for testing a new product, it may not be the best methodology for all research efforts. Research that aims to speak with hundreds of participants could see several benefits in utilizing quantitative methods, like a survey, prior to conducting focus groups to better understand where exactly your entity stands.
Misconception 2: Only large companies conduct marketing research
The benefits of research can be realized by companies of any size. While research can be expensive, less costly methods such as online surveys can allow smaller companies to reap the same benefits as larger firms while remaining under budget. Research done by smaller firms may help identify gaps in larger competitors’ offerings, help inform decisions and pinpoint customers’ needs.
Misconception 3: Becoming a research participant is an easy, reliable side gig
Often, participants will assume that they are able to easily join a focus group on any topic. While research will occasionally look for general population respondents, most research is looking to target specific characteristics whether it be demographic (i.e., age, race, income) or psychographic (i.e., attitudes, aspirations, political slant).
While participating in research can be a nice way to earn a quick dollar, most research projects have requirements that prevent respondents from taking part in research too frequently.
Misconception 4: Marketing research is a sales pitch
The primary goal of research is to develop a general understanding and not necessarily to further individual interests of research proctors or participants. A moderator’s goal during research is to collect insights to better a product or service, never to sell the product or service to you!
Misconception 5: My information will get sold
Information collected during marketing research is used for internal educational purposes. While basic information is collected and temporarily shared during the research, Personal identifying information is withheld to protect participants. The U.S Department of Health and Human Services has regulations in place to ensure that participants’ time and information is valued and properly protected.