The value of market research : how do market research clients construct value from their usage of research?

Abstract

Market research is a significant, growing global business-to-business industry. The use of market research information among organizations buying such information from external suppliers is ill researched, potentially biased and proffering only a tentative understanding about the influences impacting on a process of usage as well as the characteristics of this process. This paper draws from a systematic literature review of literature relating to this phenomenon of interest, studying the influences impacting on the use of market research information. It expounds the conditions, factors and mechanisms that induce or hinder the process of use among client organization users. In proposing a theoretical framework of the conditions, factors and mechanisms that enhance or hinder the different stages of usage of market research, this study observes how the (user) organization‘s strategy, structure, market philosophy, stance in the market and access to market research suppliers impact directly on how users seek and apply market research information. The process of market research information usage features seven phases, contrasting against the four or five typically reported in literature.