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ESOMAR’s Insights Market Development Index 2021

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The Industry Market Development Index (IMDI) has been designed to provide a comprehensive picture of the development of the Insights Industry in most countries of the world. Inspired by other well-known and recognised international indexes, it is built through the combination of 3 common dimensions that facilitate comparison between countries: price levels, market size per capita and growth and the human element in terms of its representation and specialisation. In addition, this paper argues for the pertinence and benefits of using each of these dimensions and shows their implementation process. The IMDI may expose potential cases of imperfect competition, undesired levels of ethical standards in the workforce, or industry fragility in certain countries, amongst others. Furthermore, it can serve as the basis for the creation of analogous indices to better assess the development of other industries.

Table of content:

List of equations and tables

List of abbreviations

1.     Introduction
The dangers of measuring prosperity in simple aggregate monetary terms
The case for the Insights Industry

2.     The Prices Index
How prices inform about the development of an industry
Implementation of the Prices Index

3.     The Industry Index
The adequacy of using output and growth to measure prosperity
Implementation of the Industry Index

4.     The Specialisation Index
Relative level of professional representativity
Professional ethics
Implementation of the Representation Index
a.     Professional Sub-Index
b.     Specialisation Sub-Index
c.     Representation Index

5.     The Insights Market Development Index (IMDI)

6.     Categorising the world through the IMDI

7.     Conclusion

Further research



Economic Trends
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