Why is B2B market research the poor cousin?
Date posted: 3 June 2015 | Posted in: B2B Marketing
In his latest blog for the Market Research Societyâs news and insight hub Research Live, Circle Researchâs Andrew Dalglish explores why business-to-business companies need research just as much as consumer-facing ones.
The research industry is full of dichotomies: qualitative and quantitative; domestic and international; B2C and B2B. Thereâs no value judgement within these pairings.Â Each side of the coin meets a different need and requires a different skill set.Â However, while there might not be a conceptual value judgement, there is a commercial one.Â This is especially stark when B2C is compared with B2B.Â ESOMAR estimates that a whopping 16 times more is spent on B2C research than B2B (the Global Market Research 2014 Report estimates that 6% of global research spend is on B2B).
Are there 16 consumer companies for every one âindustrialâ company?Â No, in fact the opposite is true.Â Behind every single consumer product sit many, many B2B products.
Take a humble tin of Heinz Baked Beansâ¦