2008 set to be a good year for market research industry

4 March 2008

Leading Enfield-based fieldwork company Indiefield claims that 2008 will be a good year for market research. This is based on market research business generally being a ‘recession-proof’ industry.

The financial industry, notably banking, is already noticing the effects of the subprime housing crisis and the credit crunch. Technology vendors and marketing agencies are predicted to also suffer from an economic downturn, yet ten year old company Indiefield predicts market research will continue to be invested in.

“During a period of reduced spending and budgets being slashed, which industry experts are forecasting, knowing your market and customer is key to keeping your head above water,” said Tara Lyons, managing director at Indiefield. “It’s important to continue to allocate funds to researching the market, as this will allow companies to remain competitive.”

“I have faith in our abilities to continue to succeed in 2008, despite gloomy prospects, as it’s also our ten year anniversary this year,” Lyons continued. “This means that we have plenty of experience and ambition to overcome any hurdles. In addition, we’ve traditionally done well in former US election years (2000 and 2004). While this may be but a lucky coincidence, if it rings true again this time round, the US should have elections more often!”

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