The Wunderman Thompson Firm’s Market Research Interview Research Paper

Business Type

Wunderman Thompson is an American advertising company with its headquarters in New York. The business delivers end-to-end solutions that produce ground-breaking work by using its expertise throughout the entire customer journey, including media, commerce, consulting, customer relationship and experience, and technology (Wunderman Thompson, n.d.). In its role as a market research firm, Wunderman Thompson Agency primarily researches what motivates consumers and what motivates brands through a rigorous and multifaceted research methodology to pinpoint the characteristics a brand must possess, the stories it should tell, and the experiences it can create to inspire people.

Respondent’s Background

During my interview, I connected with C. C., a trends analyst at Wunderman Thompson. As the trends analyst, C. researches market trends across multiple industries and crafts weekly stories that break down what current research means for brands and consumers. The main reason I settled on C. is because I had come across several articles written by her where she interviews experts across industries and conducts research to showcase valuable insight for their clients. By being both a writer and researcher, she blends creativity and professionalism which I find is interesting. C. has been with Wunderman Thompson for about two years and credits the interviews she often does with industry experts as her favourite part of the job. One prominent research she has done for the company is on how brands and agencies can thrive in the digital realm of the metaverse. Moreover, her work on how digital creators and users can become owners and how social media will be decentralized features greatly in her research.

Types of Surveys the Company Conducts

Wunderman Thompson uses a wide range of tools to conduct its surveys. The company utilizes different segmentation types of surveys where it directs targeted survey questions to existing and prospective customers based on their common attributes such as lifestyle and brand preference or usage. Moreover, it also uses customer loyalty surveys to analyze why customers are loyal to a specific brand or product. Finally, there is competitor analysis that helps the company derive reports to understand their clients’ competitors and examine how a target market views a client’s products or services compared to the competition. Using technological tools such as the Internet and media, Wunderman Thompson is able to conduct its research efficiently.

Qualitative Research Versus Quantitative Research

C. says she prefers to perform integrated research because it offers robust and complete results. This is because it offers valuable perspective and can be combined to generate actionable insights, unlike either qualitative or quantitative research that when used in isolation offers incomplete results.

Technology and Data Analysis in Market Research

C. gathers, processes, and analyzes data using a range of technologies and analytical methods. The company uses artificial intelligence to aid in making the most informed business decisions and data analysis software to execute analyses.

Measuring Return on Investment (ROI) Of A Market Research Project

The respondent establishes specific objectives and goals for the market research in order to discover key performance indicators (KPIs). The KPIs, such as improved sales, market share, customer happiness, or cost savings, will aid in determining the ROI of the research.

Technological Advancements in Market Research

There have been several technological advancements in market research especially in automation of data collection and analytics. However, what the respondent sees as an emerging trend in market research is virtual and augmented reality. In application the emerging technological tools will be used to conduct immersive research studies; therefore, allowing researchers to understand consumer behavior and preferences in a realistic setting.

References

Wunderman Thompson. (n.d.). Wunderman Thompson. Web.

Appendix

Original Interview Topics

1. A brief description of the type of business.
2. General information regarding the researcher, such as duration of employment in this job, credentials and favorite part of the job.
3. Research done for the company.
4. Types of surveys the company conducts, i.e. telephone, in-person, Internet, etc.
5. Qualitative Research Versus Quantitative Research.
6. Technology and Data Analysis in Market Research.
7. Measuring Return on Investment of a Market Research Project.
8. Technological Advancements in Market Research.