Standardizing the market
Market research has become a vital tool in the modern business society where knowledge is power and information is priceless. It contributes to almost every aspect of our modern lives, influencing the products we buy, the TV we watch, the way we vote and even our personal thought processes. But how can an abstract concept such as insight or opinion be standardized? Market research is, after all, nothing more than a feedback industry, albeit the fastest growing global industry, worth US$21.5bn in 2004.
So the introduction of a new ISO standard has challenged the industry to review its processes and core values. ISO 20252 Market, opinion and social research – Vocabulary and service requirements deals with the ‘factory’ elements of the research process, harmonizing the melee of national standards currently employed by the various organizations around the world. It will help to unify the criteria of work procedures, establish a base level requirement for opinion research and ensure that the quality of work is the same internationally. It is also hoped that the standard will increase professionalism and add value to the embryonic market research industries in developing countries.
