the industry is obviously experiencing much better times than 2008-2012
Washington, DC, July 7, 2015 – The 29th quarterly wave of the Research Industry Index (RII) – the Marketing Research Association’s (MRA) tracking study of the economic health of the U.S. marketing research industry – has sustained a score of 100 or higher points for 7 straight quarters. As reported with the 27th and 28th wave, this should be considered a strong indication that the industry has recovered from the recession.
“Consistent with data beginning the second quarter of 2013, the industry is obviously experiencing much better times than 2008-2012, having reached the milestone of a 21-month period sustaining an index score of 100 or higher,” said MRA’s Director of Research Amy Shields, PRC.
“While this should continue to be considered good news, the index also illustrates a lack of momentum, unable to make it above the 102 mark,” Shields added.
Overall reporting almost identical with recent quarters for key metrics such as RFPs/proposals, projects/booked revenue and staffing levels helped maintain the now steady RII score. Executive management’s outlook on the health of their organization has continued to improve considerably over time. However, unlike second quarter results for 2014, the executive outlook metric was mostly flat or down slightly this and the previous quarter.
While smaller firms continue to be the most likely to see a decrease in RFPs/proposals, and to see flat or decreased revenues and more pressure on their margins, large companies also reported a significant decrease in RFPs/proposals compared to third quarter.
This wave of the RII is based on online interviews that were conducted among 174 owners or senior level managers from among corporate researchers and marketing research firms in March and April of 2015. Responses are reflective of business conditions during and ending with the fourth quarter, 2014.
On behalf of the MRA, RII was hosted by Issues and Answers and reporting was completed by Cooper Roberts Research. For more information, visit http://www.insightsassocation.org/stay-informed/research-industry-index.
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Founded in 1957 and based in Washington, DC, the Marketing Research Association (MRA) is the leading and largest association of the survey, opinion and marketing research profession, which delivers insights and intelligence to guide the decisions of companies providing products and services to consumers and businesses.