There was such a great response to his question (Are the kids alright?) that he revised and extended his remarks.

It is worth reading the comments.

I maintain that there is plenty of young talent in the industry, but that these talented folks in their 20s are in fields that are not (and may never be) associated with “market research”, even though these fields may ultimately replace what we call “market research” today. The next generation of market research may never think of themselves as “market researchers.”

This leads me to a much wider point.

If the industry were my client, I would advocate that they rename and rebrand. For a LOT more detail on this, see pages 7 and 8 of my white paper on the future of market research.

For those interested in prediction markets I strongly recommend David Rothschild’s article in this month’s Public Opinion Quarterly (AAPOR’s publication).

Although Rothschild’s article focuses on “comparing prediction markets, polls and their biases”, the implications of his article stretch well beyond the political world. In fact, from one vantage point, elections are just a useful space to study these markets since they happen at frequent and predictable intervals. But any future event with these similar parameters would do.

One critique of market research is that it is a snapshot of the present and is rooted in present attitudes and behaviors.

This is why I believe strategic foresight and market research will merge (or at least cross-pollinate) in the near future.

Prediction markets are just one example of an area in which this cross-pollination will occur.

BrainJuicer already appears to be experimenting with prediction markets.