IDC and Market Insight Corporation Partner to Provide ”Real Time” Stats and Analyses of Consumer Buying Preferences
FRAMINGHAM, MA – JANUARY 17, 2006 – IDC and Market Insight Corporation today announced a partnership to provide market intelligence and analyses utilizing preference data gathered from online shoppers. The two companies will collaborate on a series of quarterly reports examining consumer demand for digital cameras and PCs. In addition they will partner on custom consulting engagements to explore the application of real time market intelligence among these and other consumer market segments.
Consumer sales of electronics products continue to grow. Trying to figure out which products – at which time, with which features – will be desired by consumers is a challenge that the entire consumer electronics industry faces today.
This problem is compounded by the small differences in products and brands that ultimately make a consumer choose one product or one brand over another.
"Consumers' actual purchasing decisions are difficult to gauge, largely because the information is typically gathered after the purchase, when many details have faded from memory," said Randy Giusto, group vice president of Mobility, Computing, and Consumer Markets for IDC. "Unlike most research that analyzes purchase decisions by looking in the rear-view mirror, this partnership allows us to survey a unique sample of the population that has indicated they intend to buy a specific product – nearly in real time!"
Market Insight Corporation collects the opinions of more than 550,000 consumers a year about their buying preferences for a select group of products. This data is collected from a self-recruited sample of actual shoppers who are in the middle of the purchase process.
"We are excited to be working with an organization like IDC who has a 40 year history of providing strategic advice to retailers, service providers, and major consumer electronics and computing brands," said Richard Smallwood, co-founder and Chief Executive Officer, Market Insight Corporation. "By working with IDC and their strong domain expertise, we can provide a holistic view of the market by combining leading indicators with consumer preference information so our clients can determine where the industry came from, where it is now, and where it's going in the future."
About Market Insight Corporation
Market Insight Corporation is the leader in always-on market understanding for companies and consumers. Founded by a group of highly experienced executives from the automotive and market research sectors, Market Insight is dedicated to creating solutions that are beneficial to all stakeholders in the consumer marketplace. The concept and values behind the company come from years of working on methods aimed at integrating the "voice of the customer" into business decisions in real time. It's an approach that had long been seen as something of a holy grail within the market research community, but has to this point not been practicable, in large part because it has been so difficult to achieve.
IDC is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. Over 850 IDC analysts in 50 countries provide global, regional, and local expertise on technology and industry opportunities and trends. For more than 42 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. You can learn more about IDC by visiting www.idc.com .
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