New market research standard
The final stages of the publication of a new standard, ISO 20252, which will streamline requirements for market research professionals and organizations, are gathering momentum. The document prepared by the working group in 2003 has now become a draft international standard. The final draft international standard is expected to be put to the formal vote in July 2005.
The market research industry is constantly expanding: its worth is estimated at US$18.9bn globally in 2003. Spending is 5.1 per cent higher than 2002.
The industry has applied self-imposed guidelines and good practice codes for decades and national standards have been developed over the last ten years in many countries. However, according to ISO, there are still 'cultural, social and behavioural differences between countries concerning products and services.' An international standard would regulate these differences and 'permit cross-border, multi-country research studies to be carried out with the assurance that working procedures are homogeneous and comparable'.
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