The importance of industry-specific approaches

As businesses continue to face unprecedented challenges and opportunities, it becomes imperative to embrace a range of traditional and modern market research methodologies to stay ahead in this competitive environment. Market research companies have been at the forefront in developing products and tools that strive to keep up with the ever-increasing pace of businesses. BASES, MIM, Spark and others provide the foundation and benchmarking for various areas of market research. However, they are not necessarily equally applicable across different industries. Research professionals need to be aware of this and be able to tailor the various tools to reflect the nuances of their industries to ensure the validity and actionability of the results.

Key Takeaways:

1. Not all research approaches/products apply equally to different industries.
2. Evaluate each product through your industry lens.
3. Strive to educate non-researchers on pros/cons of individual approaches.