Impact of the Post-Inflation Era on Market Research Needs

Impact of the Post-Inflation Era on Market Research Needs

Since Nov 3rd 2016, the devaluation date of the Egyptian pound, inflation has reached 30% up to date. Since then, brands experienced intense fluctuations in the Post-inflation Era, undergoing significant drops and rises in market performance.

 

Some industries are still undergoing those intense market fluctuations, which needs instant insights to support brand management reactions, while others have reached a more stabilized stage, allowing the opportunity to create and implement strategic marketing plans that suits the new market conditions.

 

In both cases, there is no more time for hit and miss; Although stability for some is good news, it’s critical. Egypt’s market across all segments is currently newly defined, so the old methodologies are not guaranteed to work this time.

This article you are reading now, we are writing out of personal experience as Marketeers Research. We conducted a small research with our clients, asking about their current needs from Market research agencies, and got the following feedback:

1. The need for Fast Research

The Post inflation Era is resulting in a time where new consumer and market dynamics are being re-defined. Consumer needs and behavior changed drastically to adapt to their current, new purchase power.

 

Yes, conditions have relatively stabilized, yet still, no one can afford to wait months for a concept testing report or even weeks for a simple dipstick anymore, to take a decision on what’s next? Especially in a time where competitive reactions arise overnight before they miss a spot in the new, redefined market conditions.

2. The need for simple visual reports

For the research to be fast, it’s not only fast in implementation, but fast in reading and comprehension as well. Regardless of the report scope, this rule applies to the 200 page strategic research as much as the 2-page dipstick. No one has the time to invest in reading through so many pages of text and numbers, and making connections from page 10 to page 100. “There needs to be a smooth story I can follow.”

 

Hence, the importance of content delivered through a simple, easy-to-read report, utilizing engaging visual tools such as info-graphics, images, videos…etc.

 

A clear visual story is an exceptionally powerful way to lay out research findings in crisp ways that invite reader involvement, a feature we currently stress on in our research reports.

3. The need for crisp clear, actionable reports

What marketing decisions can I take from this research? The question every marketing manager requires a direct answer for, and without spending some figuring it out. An actionable report is one that shows you some key outcomes that you can, and should, take confident action based on immediately.

4. The need for innovative research methodologies

Innovation pushes us to think more strategically, to be creative in solving research problems, and delivering in-depth insights that would differentiate my products.

 

Especially for Qualitative, which continuously requires tailored creative approaches in identifying ways for how we can uncover distinctive and valuable insights, in the least time frame.

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