Market research industry experienced growth in 2008

The British market research industry saw its revenues increase by 6.22 per cent last year, according to new research.
According to MRS´s annual survey, the marketing research sector in the UK is reaching maturity and was worth an estimated £2.164 billion in 2008.

David Barr, director general of the MRS, said: "This level of growth is very encouraging, particularly when inflation has, for the time being, ceased to be a significant factor."

"Market research is certainly not immune to the impact of recession, although it has shown itself in previous downturns to be relatively resilient compared with other disciplines," he added.

The MRS figures also show that growth in international research outstripped that experienced in domestic market research.

Recent research by marketing analyst Millward Brown showed that branding is more appealing to online consumers than it is to their non-digital counterparts.

Peter Walshe, global brand director at Millward Brown, said brand managers need to understand the relationship their customers have with their company´s image.
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