Market Research
Market research marked an early step in a broader shift from a 'producer-led' to a 'consumer-led' approach to business.
In the early years of the 20th century, US car makers had it good. As quickly as they could manufacture cars, people bought them. By 1914, that was changing. In higher price brackets, especially, purchasers and dealerships were becoming choosier. One commentator warned that the retailers could no longer sell what their own judgement dictated - they must sell what the consumer wanted. That commentator was Charles Coolidge Parlin, widely recognised as the man who invented the very idea of market research. The invention of market research marks an early step in a broader shift from a "producer-led" to "consumer-led" approach to business - from making something then trying to persuade people to buy it, to trying to find out what people might buy and then making it. One century later, the market research profession is huge: in the United States alone, it employs around half a million people.
Presenter: Tim Harford
Producer: Ben Crighton.
Last on
More episodes
Previous
Next
Broadcast
- Tue 10 Oct 2017 12:04成人快手 Radio 4
Download this programme
Listen to this series anytime, anywhere. Full series available now.