Overview of Market Research Online Communities

1344 WordsFeb 3, 20185 Pages
Background - The company, Communispace, offers a very unique process for using the data generated by marketing research. By building brand-focused online communities, data can be collected that offers a unique and more personalized view into the minds of the customer of a brand. Members of this community can communicate with each other, even to the point of generating focus groups that exist to discuss the product. Over time, this community evolves and produces viable information for companies based on additional details that impact the brand in question. The only way the company works can grow and prosper is if the data service provided is pristine and unique for that client. The two major values for the service are: 1) since the communities exist, within 24 hours there is useful data, and 2) a truer, more "gut level" response is available that traditional market research does not provide. Of course, the competitive landscape for market research is vast. The industry as a whole generates about $10 billion/annum and about 40% of that revenue is segmented to the top five firms. Beyond that, the industry is quite fragmented with literally thousands of companies. Communispace ranks about 29th in the industry and was the initiator into online community marketing but now has several competitors, potentially necessitating additional avenues for its social networking expertise (Honomichl, 2009). Overview MROC - MROC, or Market Research Online Communities are a marketing tool
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