Research Industry Index Reaches Highest Score Ever
Glastonbury, CT, January 14, 2011 – The Research Industry Index (RII) – the Marketing Research Association’s survey-driven composite index of business activity in the U.S. marketing research industry – continues to build on the improvement seen in the first half of 2010, with a third quarter score of 101.
This is the first time the index has passed 100 since the baseline survey was conducted in the fourth quarter of 2007. This also is the highest the index has scored since the start of the recession, indicating that the U.S. marketing research industry is moving into recovery. In contrast, the index hit an all time low of 84 during the first quarter of 2009.
“This good news is fueled by the performance of medium to large size firms. Many small firms are still experiencing decreased or flat business, reduced staffing and suppressed margins,” according to Ken Roberts, president elect of MRA and co-author of the RII report.
“Another contributing factor to the improvement is greater reliance by corporate researchers on their research suppliers,” Roberts said. “Almost one-half of corporate researchers are outsourcing more work to vendors, including tasks that typically have been considered internal responsibilities,” he added.
RII is a composite based on reported changes in key business metrics (RFPs, projects and staffing levels), as well as changes in business owners’ perceptions of the health of their business. The base period (Index = 100) is the fourth quarter of 2007. In the most recent wave of the survey, online interviews were conducted among 229 senior executives from both corporate researchers and marketing research firms via a survey hosted by Authentic Response. Reporting was completed by Cooper Roberts.
