Foreign publishing groups are welcome to invest in the Chinese publishing industry, said General Administration of Press and Publication minister Liu Binjie last month. China has begun to cooperate with foreign companies in book publishing and newspaper and magazine production, in part because domestic publishers are being corporatised and need more capital and business expertise.

Sources: CBBC, Xinhua, Financial Times, Wall Street Journal, FCO Country Updates and other news sources.

Asia’s most influential business executives are maintaining their spend in the traditional areas of media, while also increasing significantly what they spend on forms of digital media.  This is according to Ipsos MediaCT’s BE:ASIA 2009 Survey, conducted among more than 9,500 members of Asia’s business elite across Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand.

The research found that these business decision-makers have not reduced their use of international print and broadcast media.  In acknowledgment of the recession, some cuts were found to have been made in business travel spend.

About 67% of respondents read one or more international print publications, with a huge 98% claiming to have read the latest issue of a printed magazine or newspaper.  The Wall Street Journal Asia is the most popular daily title with a 17% share, and Time is the favoured weekly magazine being read by 23% of respondents.  CNN, with 29%, is the most popular international TV channel.

There has been a significant increase in digital uptake this past year.  Since the same survey took place last year, there has been a particular increase in reference to blogs (49% reading one in the past month and 11% contributing a post during this time).  63% had visited an international media owner’s website within the past month (Yahoo News, with a weekly reach of 33%, is the most prevalent); 29% had used social networking sites; and 27% had accessed the internet via a mobile device – a massive eightfold increase since 2006.

Asia Research (http://www.asiaresearch.com.sg/), Asia’s Market Research & Market Intelligence Journal, has reported in its latest issue some of the findings of a survey it conducted earlier this year.  The online survey of more than 250 agency-side market researchers gives us insight into the changing face of the market research industry in light of the global economic difficulties. Some of the survey’s main findings are shared with you here.

2009 has been a challenging year for the market research industry in Asia – as in the rest of the world.  In the main, clients’ budgets are lower in 2009 than they were in 2008 – typically 30% lower (although, of course, there have been some clients who have increased their market research spend).

One of the main ways in which many market research companies have been affected has been in their personnel.  Particularly hard hit have been the regional hubs of Singapore and Hong Kong – as well as in India, which has been one of the fastest growing research markets in recent years.  Interestingly, though, only 17% of senior managers interviewed stated that they have a recruitment freeze and 58% say they will hire full-time staff – at all management levels – in the next six months.

More common than redundancies have been caps placed on remuneration – including pay freezes (39%) and removal of bonuses (32%).  Other cost-cutting measures implemented have included less capital expenditure (27%), less corporate travel for business development purposes (24%), a freeze on expansion (24%), and less advertising (19%).

Those working in Australia and Indonesian market research agencies have felt less affected than many others by the recession; unsurprising given that these markets have generally been less impacted by the global economic slowdown.

2009 can be classified as a hirers’ market, with a number of high quality market researchers currently unemployed as a result of companies’ retrenchment.  In fact, only 8% of those currently in employment feel their jobs are at risk in the coming six months (although 22% of senior managers expect to have to make further redundancies in the same period).

In spite the gloom, many of the market researchers surveyed are optimistic about next year.  Only 5% think that the prospects for the market research industry in 2010 will be worse (1% say ‘much worse’ and 4% say ‘somewhat worse’).  By contrast, 67% are feeling positive (42% saying ‘somewhat better’ and 25% saying ‘much better’).  The remaining 27% think things will be about the same or aren’t sure.

The sectors that will offer the best growth opportunities in 2010, in the views of 114 senior managers, are:

·          Healthcare/Pharmaceutical (46%)

        ·          FMCG/Consumer (39%) 

·          IT/Telecommunications (37%)

        ·          Banking & Finance (37%) 

·          Government (24%)

        ·          Media (17%) 

·          Travel & Tourism (16%)

·          Manufacturing/Industrial (14%).

An additional 69 clients – or market research buyers – were also asked a number of questions.  29% of these expect their budgets to increase next year, versus 11% who believe they will decrease. Of those expecting an increase, they think their budgets will rise by, on average, around 20%.

B2B International, like other market research agencies, has had to adapt its services and offerings to meet changing client demands.  What does remain, however, is our promise to work out the best way to meet your research objectives at a competitive price, adding value and insight wherever we can.