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Are MR Agencies Maximising Profitability?
A wide range of prices is being quoted for identical surveys, suggesting agencies may not be maximising their profits. This is a major finding from £quotecheck, a recent pricing study undertaken among MR agencies by research consultancy Richard Horswell Market Research (RHMR), in its latest survey - the third to date.
The survey checked out prices for a number of different types of project, domestically and internationally, and found that for both quant projects and qual projects the highest price was, on average, more than double the lowest price. This did not come as a surprise to researcher Richard Horswell, who commented 'What surprised us most was that some agencies did not appear to be interested in finding out how their prices compare with their peers. Many could be charging more for their services. It's not too late to take part.'
Agencies who participated so far have found the study very helpful in developing their pricing strategy: 'I hope others have found it as useful as I have' Graham Booth (Team Research Consultancy), 'We have found the project extremely useful' Peter May (Magpie) and 'Another interesting and informative set of findings, which we have found extremely useful' Toni Thompson (Sample Surveys Group).
Any agencies still wishing to take part, can do so by contacting Richard Horswell at 01283 704475 or email richard@rhmr.co.uk
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