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US Research Firms Pessimistic
Key metrics in the Research Industry Index (RII) compiled by US professional body MRA (the Marketing Research Association) remain relatively flat for the second quarter of 2008. Industry execs, however, are gloomier in their forecasts.
Data for the RII is gathered from a quarterly study conducted among owners or senior level management of marketing research companies and end users. The study addresses both qual and quant research, and the RII is based on the reported change in RFPs/proposals, projects/booked revenue and staffing levels.
The MRA says that during the quarter, responses to statements such as 'our new business prospects look good', 'the year is shaping up to be a better year for our business', and 'we have more clients this year' became far more pessimistic.
According to CEO Larry Brownell, there is also some indication that end clients are widening the number of agencies to which they send their RFPs, which is putting pressure on agencies' overall margins.
The second quarter study was completed in late June, among 116 executives. Interviews were conducted online.
Established in 1957, the MRA has an international membership made up of companies and professionals engaged in all segments of marketing and opinion research. The association recently launched a portal where clients, agencies and sub-contractors can evaluate and comment on each other's services online.
Web site: www.mra-net.org .
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