Market Research - Facts and Myths. Review on General Tips on Market Research

Aloha again to all the MS'ians.  I must say the review I put before on this column caused quite a few heartburns.  Well that review is gone now and its'alls well that ends well' for most of them. Anyways, now that I know the apparent effects I add this disclaimer that is usually is found in movies.

'The contents of this review is the writer's own and does not pertain to any company or its employees or their style of work. Any coincidence is regretted!'

I am in the Market Research and Consulting field for quite sometime now. It looks like a booming market after the BPO's. Infact now with all these KPO's(Incidentally it means Knowledge Process Outsourcing), market research industry is riding on a high wave. Before I joined the research industry I used to envy the analysts and their apparently successful lives and lush salary and looking back now I can sum all of it as the cliche'Grass is always greener on the other side'. I am not degrading the industry as such since I am quite happy being a part of this research industry. I am writing this in a light vein and not to offend the analyst as I am one myself!

Well there are so many lores surrounding this industry that it is actually difficult to separate fact from fiction.

Myth No 1: All Analysts Are Intelligent!

Ho ho ho. Sorry to burst the bubble but let me tell you as not all chinese are martial artists, same is the case with analysts. I remember being flustered by huge reports and wondering how in the world did the analyst manage to write one. Good morning everyone, it just boils down to u scratch my back and I scratch yours without any of the scratchers knowing who is scratching whose back! Most of the cases its pure Cntrl C and Cntrl V(For the novices these are shortcut keys on the keyboard for Copy and Paste) The reports are all taken from one another and sometimes an analyst who created the report would have to read it to understand what the report is all about. My compliments to the analysts who create the primary report though:-)

Myth No 2: All Analysts Report the Truth

Nice! How I wish it was true! My experience in this industry has removed the cloud that I had. Not all reports and statistics are always true. Well there exists some species who actually burn the midnight oil and prepare reports and statistics which report the truth but as I explained above, these are all mutilated for serving a'higher' apparently altruistic purpose. They are mutilated to such an extent that it becomes difficult what to belive in. Unfortunately in this mess, the good creators are also falsely accused of manufacturing truth. Thats what the industry seems to become, not truth reporters but truth manufacturers! It's like, '  Nah! I dont like this truth, lets create another one!'  So please use your judgement while perusing a report. The Truth Isn't always Out There!

Myth No 3: Analysts and Consultants from Branded Companies are Good

He he. Thats really funny. I have actually met persons who rely on branded reports and consulting companies to sort out their troubles. In most cases they managed to spend money on one company and then change to another and then to another in the hope that some of their troubles would get solved, without realising that there might be a'genius' in the organisation who could have done the same thing but was not given enough importance. The wise Alecks' from the branded companies come and enjoy on the clients' money and go back creating bigger problems. Almost like being called to remove a hill but creating a mountain of troubles instead.

Myth No 4: All Analysts Have Your Best Interests at Heart

Have to burst the sweet pink bubble again folks. Not all are. The only interests most of them have is to sell their service or reports and find  sacrificial goats they can charge their heavenly bill to.

On the brighter side, the research and consulting industry is very intellectually stimulating. You have to be aware of the latest news to be in the coterie. My compliments and appreciation to the original creators and analysts who are loyal to their job and find it their duty to report the facts to the clients.