Market Research : A Historical Overview
“Market Research : A Historical Overview”
Market research, an indispensable facet of contemporary business strategy, has a rich historical tapestry woven from diverse methodologies and ideologies. According to keltonglobal.com, the genesis of formal market research can be traced back to the 1920s. Using quantitative questionnaire, Daniel Starch laid the foundation for systematic market analysis during this period, by introducing the concept that effective advertising required visibility, believability, remembrance, and most crucially, action.
The post-World War II era ushered in the Qualitative Consumer Era, characterized by a shift towards understanding individual consumers on a deeper, more personal level. Although quantitative surveys remained prevalent, researchers sought to delve beyond mere statistics. The advent of techniques like focus group and the rise of Motivational Research, pioneered by Ernest Dichter, marked this period. Dichter’s approach rooted in Freudian psychoanalytic concepts, emphasized the hidden desires and symbolic meanings associated with consumer choices.
However, the 1960s to 1980s witnessed a refinement of methodologies and the integration of technology. John Howard’s interdisciplinary approach encouraged the infusion of psychology, sociology, anthropology, semiotics, economics, and management science into market research. This period also saw a heightened focus on the experiential aspect of consumption, emphasizing emotions, feelings, and moods. The symbolic analysis of products expanded to encompass broader brand identities, a concept still integral to contemporary market research.
In the present Digital Era, market research has undergone a profound transformation with the advent of the internet. This era is characterized by an expansive toolkit that includes semiotics, social listening, and communication analysis. This allows researchers to conduct surveys on a massive scale and create hyper-segmentation effortlessly. Crucially, the Digital Era also recognizes that consumers are part of a broader context, thus researchers now construct comprehensive analyses of the ecosystems in which consumers operate, acknowledging the interconnectedness of culture, society, and individual choices.
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