marketing research topics philippines

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71+ Research Paper Topics & Ideas for Marketing Students  

As a marketing student, you probably have access to a plethora of resources such as your college library and of course, the internet, to come up with great research paper topics.

However, the thought of writing your research paper can be daunting, especially if you’re still brainstorming and don’t know what to write about.

Just like any other piece of writing, start by keeping your audience in mind. Then, make a list of research paper topics that are more relevant to your interests, or a new under-developed field (for example; augmented reality, or people sentiments towards Artificial Intelligence), or a unique research topic that intrigues your audience.

But if you’re still struggling to pin down one out of the many research paper topics for your program, we’ll suggest a number of them for you to either choose from; or for you to take inspiration from and come up with your own.

Table of Contents

How to Choose the Best Research Paper Topics

Before we dive into the details, you’ll have to familiarize yourself with the basics. For starters, pick up a pen and paper and brainstorm different topics that you’d like to write about.

While personal interest is definitely important, we also suggest you opt for a topic that will intrigue your readers.  Here are a couple of factors you ought to keep in mind while selecting a topic:

Keeping your personal interest in mind

You probably won’t be able to write a stellar research paper if you’re not interested in the topic. Sit down with your peers and advisors to discuss possible ideas. It will be easier for you to discuss different themes once you’ve written down all your ideas in one place. If you’ve decided on a specific keyword for instance “consumer behaviour”, you can look for similar research papers on the internet.

A research paper isn’t a descriptive essay which you can drag aimlessly. Your research paper needs to be based on factual data and that’s only possible if you’ve conducted thorough research. While jotting down points for your first draft, ensure your statements are supported with references or examples citing credible academicals and research work.

Don’t leave it till the last day

A lot of students tend to undermine the writing process and leave for the last few days. Bear in mind that you can’t possibly write your entire research paper overnight. In order to succeed, you’ll have to devote sufficient amount of time to research.

Also, be prepared to schedule meetings with your advisor on a regular basis as you’re bound to require help along the way. At this point, make sure you only rely on credible sources that will support your dissertation.

Examples & List of Research Paper Topics

If you’re still unable to decide a topic of your interest, here is a list of 70 unique marketing research topics that you can use as marketing project topics for your MBA, or any other marketing course:

• How do organizations use CSR ( corporate social responsibility ) to reinforce brand equity?
• What manipulation tactics do brands use to get more customers?
• How can brand image be communicated via social media marketing?
• How can social media impact the buying choices of shoppers?
• Are consumers equipped to shield themselves from direct marketing strategies?
• Determine and analyze consumer buying behavior for [product name]
• How does advertising impact consumer behaviour?
• How does family orientation impact marketing communications?
• What characteristics do buyers look for when purchasing a product online?
• How does global marketing incorporate standardization?
• What attributes do consumers look for when comparing products online?
• How do financial institutions differentiate their goods and services on the basis of social class?
• Is direct marketing really the most effective form of marketing?
• What internet marketing trends can be expected for the future?
• How to marketing strategies differ across different cultures?
• Can brand advertising impact political campaigns?
• How do brands exploit impulsive buying?
• How does loyalty cards encourage sales and boost customer loyalty?
• Can well-marketed brands get away with selling substandard quality products?
• How is globalization having on impact on consumer behaviour?
• Impact of brand image on customer loyalty
• Brand attributes that lead to an increase in customer loyalty
• Successful marketing approaches that helped break through strong market monopoly
• Impact of cause marketing on brand affinity with young mothers
• Effect of consumer promotions and discount offerings on brand equity
• The outcomes of advertising in a recession
• Influence on Social Media advertising on consumer behaviour
• Effect of TV advertising on top of mind awareness
• Understanding customer perceptions around event sponsorships
• Does corporate social responsibility translate into sales?
• Canadians perspective on being targeted with mobile ads based on their browser history
• Is direct marketing welcomed by people?
• Are customers able to differentiate between various mortgage offering by competing banks?
• Does social media influence buying behaviour
• Do people like being click baited into sponsored posts?
• Understanding the impact of celebrity endorsements on ROI for CPG brands
• Women’s sentiments around comparison advertising
• How effective is comparison advertising to build brand equity?
• Do consumers prefer purchasing routine grocery products online?
• Is earned media perceived to be as important as it appears to be?
• What makes people want to share content to their friends?
• Understanding why content goes viral
• Marketing challenges around the evolving family structures
• Are we losing the emotional value and significance of money being in a cashless society?
• Is centralized global marketing a good idea for brand health in local markets?
• How is augmented reality going to enhance marketing experiences?
• How will artificial intelligence support in making better marketing decisions?
• Is immersion marketing through virtual reality technology going to be accepted?
• What does the luxury auto buyer look for in a car?
• How to instill a desire to purchase for customers in the luxury category
• Harmful effects of advertising to kids
• Impact of in-store branding on brand salience
• Effect marketing strategies for restaurant businesses
• Habit formation and ways to integrate new products in consumer lifestyles
• Is display advertising going to die?
• Can Snapchat help small business grow?
• How do customers perceive the brand who advertise on Instagram?
• The impact of humour in advertising
• Do customers pay attention to nutrition labels?
• What triggers impulse buying behaviour
• Essentials to sky rocket a new brand to heights of awareness
• The factors that lead to customer satisfaction in young adults
• Elements that help build an emotional connection with your audience
• How do males and females differ in their buying behaviour of mobile phones
• Does language targeting help in ethnic advertising?
• Customer Perceptions: Are well known brands good in quality?
• Is radio still an effective method of advertising?
• Rural vs Urban marketing challenges to be mindful of
• Impact of internal branding on employee retention and turnover
• An in-depth analysis of political marketing in Canada

More Categories of Research Topics

Still in need of some inspiration? Here are a few research paper areas that you can explore:

• Distribution
• Consumer Behavior
• Relationship Marketing
• Brand Management
• Nonprofit Marketing
• Market Segmentation & Targeting
• Internet Marketing
• Marketing Planning & Forecasting
• Product Design & Positioning
• Direct Marketing
• Advertising
• Purchasing & Materials Management

Hopefully, these marketing thesis topics will help you come up with a few topics of your own. If you’re still confused about which area, you’d like to work with, we suggest you consult your advisor for some additional help. Good luck!

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Your Ultimate Guide to Philippine Market Research in 2024 

Disclosure: Small Business Philippines strives to provide relevant and accurate information in all its articles. However, some information in our articles may differ or might be outdated from what you can see or read directly from the establishments’ or businesses’ websites. Please get in touch with us directly for any discrepancies.

Market research is the process of gathering essential information about your target audience, industry trends, and competitors to make informed business decisions. Specifically tailored to the Philippine context, Philippine business market research involves analyzing local consumer behavior, cultural preferences, economic conditions, and emerging market opportunities. This invaluable practice empowers entrepreneurs and business owners to refine their products, services, and marketing strategies for optimal success in the Philippines.

Why Is Philippine Market Research Essential?

When should you conduct market research, target audience analysis, competitor insights, industry trends and market potential, 1. online surveys and questionnaires, 2. in-depth interviews, 3. data analysis tools, 1. define your research objectives, 2. identify your target audience, 4. design research tools, 5. collect data ethically, 6. analyze and interpret data, 7. apply insights strategically, 1. social media listening, 2. local collaborations, 3. language and cultural sensitivity, key takeaways.

Market research isn’t a mere option; it’s a business imperative. By delving into the specific needs, desires, and pain points of the Philippine market , you gain a competitive edge. This knowledge enables you to develop products and services that resonate deeply with your audience, positioning your brand as a solution provider rather than just another business . In a dynamic landscape like the Philippines, where consumer preferences can shift rapidly, staying ahead of the curve is paramount to sustained success.

Market research is not a one-time endeavor but an ongoing process that should be integrated into every stage of your business journey. Whether you’re launching a new product, expanding your reach, or adapting to changing market dynamics, market research informs your decisions at each turn. From the inception of your business idea to regular check-ins as you grow, timely research ensures that you’re always aligned with the evolving needs of your target market.

Where to Focus Your Philippine Market Research:

Understand your potential customers’ demographics, behaviors, preferences, and pain points. This knowledge aids in crafting personalized marketing messages and tailoring your offerings to match their needs.

Analyze your competitors’ strengths, weaknesses, and strategies. This helps you identify gaps in the market and opportunities to differentiate your brand.

Stay up-to-date with trends, emerging technologies, and changing consumer preferences within the Philippines. Recognize untapped market potential that aligns with your business goals.

How to Conduct Effective Philippine Market Research

Create surveys to collect data directly from your target audience. Platforms like Google Forms, SurveyMonkey, or local alternatives can be utilized for this purpose.

Conduct one-on-one interviews with consumers to gain deeper insights into their thoughts, feelings, and behaviors related to your industry.

Leverage data analysis tools to interpret the collected information effectively. Tools like Google Analytics and social media insights offer valuable metrics.

Step-by-Step Guide to Philippine Market Research:

Clearly outline what you aim to achieve with your research. Whether it’s understanding consumer preferences or evaluating market potential, defined objectives streamline your efforts.

Create detailed buyer personas representing your ideal customers. This helps in tailoring your research to gather the most relevant insights.

3. Choose Research Methods

Select suitable methods such as surveys, focus groups, or online analytics based on your objectives and target audience.

Craft well-structured surveys or interview questions that extract valuable data without overwhelming participants.

Ensure participant consent and privacy while collecting data. Adhere to ethical guidelines to maintain trust and credibility.

Use data analysis tools to identify trends, patterns, and correlations. Translate these findings into actionable insights.

Implement the gained knowledge to refine your offerings, enhance marketing strategies, and align your business with the Philippine market’s demands.

Examples and Tips for Effective Philippine Market Research

Monitor social media platforms for discussions, comments, and reviews related to your industry. This provides real-time insights into consumer sentiments.

Partner with local influencers or businesses to gain insider perspectives and connect with your target audience more authentically.

Craft surveys and questions in the local language, respecting cultural nuances to encourage open responses.

Mastering Philippine business market research in 2023 is your pathway to success in a competitive environment. By understanding your target audience, staying attuned to industry trends, and making informed decisions, you can position your business as a market leader. Remember, market research isn’t a one-time task; it’s an ongoing commitment to excellence and customer satisfaction.

As you embark on your journey to conquer the Philippine business landscape , remember that knowledge is your greatest ally. Commit to continuous market research and refine your strategies based on insights gained. Your business’s growth and success hinge on your ability to understand and cater to the unique demands of the Philippine market .

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Upholding the highest standards of Marketing Research in the Philippines

Marketing and opinion research society of the philippines.

To create an outstanding climate of support and be the center of excellence for market, opinion, and social research and analytics organizations and practitioners to advance the value of research in decision-making.

As the premier marketing and opinion research organization in the Philippines, MORES commits to unite the MR industry by providing distinction among its members through innovative workshops and trainings, seamless network access and resource sharing among professional members, and the maintenance of the high standards and ethics in the conduct of marketing research. 

• Upgrade the research profession by promoting and ensuring that high standards are maintained by its members in the conduct of marketing and opinion research according to generally accepted scientific methods.
• Promote public understanding and appreciation of the nature and value of research as a management tool.  
• Formulate the Code of Ethics for members and to ensure observance of the Code’s provisions.
• Foster fellowship among practitioners respecting each other’s professionalism and recognizing that trade secrets are to be respected.  
• Serve as the focal point for the exchange of information and ideas.
• Encourage the development of new techniques and methodologies in marketing and/or opinion research.
• Serve as coordinating body to meet common problems and to act as spokesman of members whenever necessary.

40 Years in Championing Professional Marketing Research

MORES Updated New Code of Ethics Briefing

Save the date for the MORES Updated Code of Ethics Briefing on June 6, 2024, from 2:00 to 4:00 PM via Zoom.

Registration is now open! Please secure your spot by registering through this link:    https://forms.gle/1xyMDSg5tsQ3oYA17

*Please disregard if already registered

Please note that this event is exclusive to current registered MORES members only.

Thank you and we look forward to seeing you there!

For inquiries, please contact the Secretariat at  [email protected]  or 09451089627.

MORES ASC Cascade: The New Code of Ethics

We invite you to attend the MORES' ASC Cascade: The New Code of Ethics on April 25, 2024, from 2:00 to 4:30 PM via Zoom.

Registration is now open! Please secure your spot by registering through this link: https://forms.gle/aoJ5qPTLMkuLbaxk6

Brace yourselves for an extraordinary journey into the future of insights and innovation at MORES Congress 2024!

We're thrilled to introduce our keynote speakers who will ignite your imagination and lead you into uncharted territories of knowledge:

Day 1: What's New: Reimagining Today's Research will feature the esteemed Ms. Bernadette Romulo-Puyat, Deputy Governor of the Central Bank of the Philippines!

Day 2: What's Next: Navigating Tomorrow's Needs will showcase the brilliance of Dr. Iris Tan, Chief of the UP Manila Medical Informatics Unit; Director, UP Manila Interactive Learning Center; Professor 12, UP College of Medicine.

Prepare to be inspired, enlightened, and propelled into the future like never before!

Secure your spot now at http://www.morescongress2024.com and join us on this epic journey.

Register now at http://www.morescongress2024.com

#MORES2024 #MarketInsights #ResearchReimagined

Slide title

Join us for an enlightening journey into academia's future with our stellar lineup of speakers at "Fostering Future Minds" on Day 3!

Session 1 caters primarily to educators, offering cutting-edge curriculum strategies and insights to empower teachers in shaping tomorrow's academic landscape.

Session 2 is open to both teachers and students, unlocking market-ready skills and providing valuable learning opportunities for all participants.

Secure your spot now at www.morescongress2024.com and be part of shaping tomorrow's academic landscape!

Step into the future with our incredible lineup of speakers at "Navigating Tomorrow," Day 2 of the congress!

From unraveling the AI-luminating horizon to exploring the future frontier of product experience, our sessions promise to be enlightening and inspiring.

Secure your spot today and register now at www.morescongress2024.com !

Introducing an exhilarating journey into the future of market research with our Day 1 program: Reimagining Today's Research!

Dive into cutting-edge topics and innovative strategies reshaping the industry landscape, and prepare for a transformative journey that will reshape the landscape of Market Research.

Join us from May 9-11, 2024, at Marquis Events Hall, Taguig, as we pave the way for the future of Market Research.

Stay tuned for more updates, and secure your spot now at http://www.morescongress2024.com.

MORES Congress 2024: National Insights and Market Research Congress

Join us for the MORES Congress 2024: National Insights and Market Research Congress, happening from May 9 to 11 at Marquis Events Place, BGC.

Experience three impactful days of industry insights, networking, and innovation!

Don't miss out on this immersive experience where tradition meets innovation.

Reserve your slot now at www.morescongress2024.com .

See you there!

#MORESCongress2024 #ResearchReimagined

Secure your slot with our Early Bird offer!

Registration is now open – dive into our lineup of expert speakers and insightful sessions. Don't miss out, reserve your spot today!

Join us for The National Insights and Market Research Congress and be inspired by the best in the business!

 May 9-11, 2024

 Marquis Events Place

Register now at

http://www.morescongress2024.com

A big thank you to our sponsors for their invaluable support in making this event possible!

Your contributions are instrumental in bringing our vision to life and creating an unforgettable experience for everyone involved. We deeply appreciate your partnership and generosity.

Join us by registering on our website and be part of this incredible event: http://www.morescongress2024.com

Get ready to be inspired and learn from our lineup of speakers for Day 3: Educating Tomorrow’s Researchers. Prepare for a day of enlightenment and join us as we delve into the latest trends and new approaches in market research. 

More speakers to be announced soon! 

May 9-11, 2024

Marquis Events Place

#MarketInsights

#ResearchReimagined

The excitement is ongoing as we reveal our esteemed lineup for Day 2: Navigating Tomorrow, representing the apex of innovation from leading companies across all industries.

These forward-thinking visionaries are poised to lead the path forward with their valuable insights.

We're thrilled to unveil the initial roster of industry experts for Day 1: Research Reimagined, hailing from top-tier corporations and companies. These visionaries are at the forefront of innovation and are ready to share their insights with you.

The wait is finally over—we're thrilled to announce the launch of our official #MORESSCongress2024 website!

Get ready to join us on a journey shaping the future of Market Research at the National Insights and Market Research Congress happening this May 9-11, 2024 at Marquis Events Hall, Taguig.

Prepare to be inspired by our incredible lineup of speakers from various industries, including Ipsos, Kantar ph, Metrixlab, Meltwater, Dooblo, UM Ph, NuWorks Interactive Labs, Ogilvy, Globe, and so much more!

Over three insightful and impactful days, industry pioneers, together with forward-thinking innovators, will emerge into a collaborative event designed to challenge traditional perceptions, explore uncharted territories, and reimagine the pivotal essence of how insights are garnered.

Don't miss out—register now at www.morescongress2024.com for early bird tickets!

#MORESCongress2024 #ResearchReimagined #MarketInsights

To our fellow and aspiring researchers, your voices have echoed, and we’ve answered the call!

Introducing the MORES Congress 2024, National Insight and Market Research Congress! Join us for three impactful days from May 9-11 at Marquis Events Place, BGC.

This immersive experience is crafted to bring together industry experts, thought leaders and the promising young minds of tomorrow. Seize the opportunity to be part of a dynamic community where tradition meets innovation.

We eagerly await your participation in this tapestry of excellence, save the date! See you!

We're slowly unraveling the details of our highly-anticipated event, and the first piece of the puzzle is here!

Can you guess where we’ll set the stage for our upcoming groundbreaking event?

Use #ResearchReimagined to connect with traditional and modern market researchers. 

Let's create a space for sharing experiences, networking, and fostering innovation in market research! 🚀 

Revealing SOON.

#MORESCongress2024 

Countdown Alert! We'll unravel hints about our event, fostering collaboration and knowledge exchange. 

📍 Event: MORES Congress 2024 📅 Date: May 9-11, 2024

Save the date as we pave the way for innovation in market research! 

#Countdown #MORES2024 #ResearchReimagined

Exciting News! Something groundbreaking is on the horizon. 

Save the date and get ready to unite, collaborate, and share industry knowledge like never before! 🌟

#MORES2024 #Teaser

Induction of 2024 MORES Board of Directors led by Senator Win Gatchalian

Congratulations to our new set of Officers!

Meet the NOMINEES for the 7 vacant seats on the

MORES BOARD for 2024.

MORES' 4th General Membership Meeting, Election and Christmas Party

Hello MORES members and friends! We hope you are all well and enjoying the busyness of the last quarter

Sending you another invite for our MORES GMM 4, an afternoon of learning and a night of thanksgiving / year end celebration for a successful year of collaboration and sharing of insights about the research industry. With great honor and pride, we are also introducing you our ROSTER OF SPEAKERS who will talk about ROLE OF EMOTIONS in their respective fields. We all know that consumers are not always rational individuals and their emotions act as a source of information in their decision-making. Emotions are key indicators not only of individual purchase and usage BUT also the likelihood of continuing on the customer journey from selection to brand loyalty and inspiring others to take that journey as well.

For the whole duration of the event, we will also be having our Election of the new set of MORES Board of Directors. 

For attendance confirmation/registration, please use this link https://forms.gle/3MXDQZsmoMLbeZ389

MORES' PMR Basic 2023

This year, MORES PMR is very glad to announce that the PMR Basic 2023 series will again be conducted face-to-face. This is to allow in-depth discussions and exchange which we feel is integral to the learning process. 

The course entitled "Grounding our Market Research" will be scheduled on November 9-10 at the ACE Hotel, Pasig City.  The course is designed to build stronger MR foundations particularly for our new practitioners. We will discuss market research tools, approaches and frameworks in order to allow and facilitate a more effective client-agency dialogue, particularly in drawing out business issues and decisions. 

The course rates will be as follows:

• Corporate Members - Php 11,200 (after 20% discount)
• Individual Members - Php 12,600 (after 10% discount)
• Regular Rate - Php 14,000

For more information/registration, please reach out to MORES Secretariat or register by clicking the poster or this link:  https://forms.gle/4Hut1wexnqSxSvH78

Click here to view the detailed schedule.

MORES' 3rd General Membership Meeting

Meet our speakers for our upcoming MORES 3rd General Membership Meeting on September 21 (Thursday) at 2:00-4:00pm via ZOOM . With the topic "From Talk to Action: Journey to Impactful Sustainability" our respectable guests shall talk about sustainability from different perspectives – government, corporate and market research. Plus, we will be showing clips from ESOMAR webinars with regional packaging insights and sustainability experts from Danone and Lazada Group. 

Let us make our campaign for sustainability truly impactful and meaningful. See you there!!!

Click the link to register:  https://forms.gle/zd5587ZkMs7arcTb9

MORES' PMR Advanced course: A move towards a SMARTER PERSPECTIVE

We are thrilled to announce the highly esteemed speakers who will be gracing the upcoming MORES PMR Advanced on

August 4, 2023 (Friday), from 9:00 am to 4:00 pm. The event will feature an exceptional lineup of experts who will inspire you.

To secure your spot, kindly register by clicking on the following link: https://forms.gle/8yoYERAaeBSMn4AA8 .

Don't miss out on this incredible opportunity to expand your knowledge and network with industry professionals. We anticipate an engaging and enlightening event that will leave you with valuable insights to enhance your professional journey.

Thank you for your continuous support, and we eagerly look forward to seeing you at the MORES PMR Advanced training!

 MORES' 2nd General Membership Meeting

We are delighted to share snapshots from our 2nd General Membership Meeting (GMM), last June 22 at Crowne Plaza in Ortigas.

Thank you all for coming!! Your presence and active engagement greatly contributed to the success of the event.

We look forward to seeing you on our 3rd GMM!

ESOMAR - Your invitation for the Amsterdam Congress and

 the Associations Leaders Summit

The ESOMAR (European Society for Opinion and Market Research) is inviting the MORES members to the upcoming ESOMAR Congress in Amsterdam, on September 10 - 13, 2023. They have lined up exciting sessions, workshops and panel discussions aimed at "charging up" the market research industry.

Here are some must-see presentations you won't want to miss:

• Making Relationships Count. Quantifying the human-centric factors driving business success, Jami Guthrie, Vice President, Consumer Insights at McDonald's, Manila Austin, PhD, VP, Global Head of Research Innovation at C Space, and Peter Fader, Professor of Marketing at The Wharton School.
• Self(Ish): Redefining Motherhood As A Transformational Journey, Not A Role, francky david, Global Consumer & Health Care Professional Insights Manager - Nestlé Nutrition at Nestlé, and Nathalie Coste, Founder of Lovebrands.
• Creating the Beauty Insights that Move Africa. AfriLab: How mobile digital communities are co-creating the future of beauty experiences across the continent, Kambe Mwaba, Head of Evaluation Intelligence at L'Oréal Sub-Saharan Africa, and Christine Laurenssen, Business Director Africa at MDI (Mobile Digital Insights).
• Can AI (Computer Vision) Help Us to Evaluate Creatives at Large Scale? A research framework for meta-analysis of video ads by combining machine learning and human encoding, Minh Nguyen, Senior Marketing Research Manager, Google Japan.

The ESOMAR Congress offers a unique opportunity to network and learn from industry experts. For more information, please visit their website through this link  https://rb.gy/ieog5 .

MORES' 2nd General Membership Meeting Invite

Join MORES' 2nd GMM on June 22, 2023 (Thursday), 2:00 to 4:00 P.M. at Crowne Plaza, Ortigas, Pasig City.

Please be advised that admission is FREE for ALL CURRENT MORES Members and a minimal registration fee of

Php 1,000.00 will be charged for non-members . 

NOTE: No cancellation, no refund once payment is received.

Should you have any questions or concerns, please do not hesitate to contact us.

Thank you and see you on June 22!

MORES' Community of Insighting (COI)

We are happy to announce the newest knowledge sharing venue created by MORES... MORES Community of Insighting (COI). Join the kick off session about D' GenZs on

Friday, May 19, 2023, 8 to 10am at McDonalds Emerald Avenue, Pasig City.

There are 25 limited slots only.

Click the link to register 

https://forms.gle/jcEWpgS9VJV7Q9Pi8

"Together, let's have a hearty breakfast for our mind and body."

MORES' 1st General Membership Meeting

Join MORES' 1st GMM on April 13, 2023 (Thursday), 2:00 to 4:00 P.M. at Crowne Plaza, Ortigas, Pasig City.

Please be advised that admission is FREE for ALL CURRENT MORES Members and a minimal registration fee of Php 500.00 will be charged for non-members. 

Induction of 2023 MORES Board of Directors led by PSA Usec. Dennis Mapa.

We are pleased to announce the 6 new members of the

2023 MORES Board of Directors

The COMELEC would like to thank everyone who attended the MORES GMM, Elections & Christmas Party,  those who voted remotely/in absentia, those who nominated proxies to ensure their votes would be counted, and the proxies who went out of their way to accommodate the request. The success of the election is all thanks to you! 

Let us all extend our Congratulations to the new board members, and we sincerely hope that you will continue to support MORES this 2023.

Happy Holidays everyone! 

Your COMELEC (Berna, Nonoy, Caloi, Mikee)

Meet the NOMINEES for the 6 vacant seats on the

MORES BOARD for 2023.

MORES' 4th GMM, Election and Christmas Party

Come to our MASKARADE 2022 Party on Thursday, December 1, 2022 at Tipsy Pig, Estancia from 4:00 to 8:00 pm.

As we unravel the season, we reveal stories from Aboitiz' Biz as Migs Ragudo brings us insights from the front room and Rhoel Racheta highlights machine learning from the back coming to the front. 

We reveal our 2023 MORES Board as we elect them to their post.

Come in your most creative mask and let us all have fun!

MORES PMR Basic 2022

We invite you to attend MORES' Practical Marketing Research Basic 2022 Training on August 25 and 26, 2022 via Zoom.

For queries or concerns about this event, please do not hesitate to contact us.

MORES Honorary Members

Let us welcome the MORES Honorary Members presented during the 2nd GMM last July 28, 2022.

MORES MetaView of Consumers and Shoppers in the P2Y

We would like to express our sincerest gratitude to our Data Partners who shared some pieces of their great work.

We hope for the continued support of everyone to various MORES activities.

MORES, the Marketing & Opinion Research Society of the Philippines, is the premier professional organization of marketing and opinion polling agencies, and market research practitioners in the Philippines. We have always resolved to uphold the highest professional standards in delivering the most precise and representative feedback and insights decision makers and stakeholders require for either making informed decisions or reflecting on prevailing public opinion.                             

MORES supports companies who deliver results with consistency and reliability. Companies such as SWS and Pulse Asia have shown its commitment to use scientific methods to provide public opinion representative of ANY population of interest. 

Surveys nowadays cannot only be good. It has to be excellent. That is why we at MORES stand by the professional pollsters that have provided customers and the critical public a solid track record in delivering consistent and unbiased research, but also transparency and persistency in communicating these results in the best possible way. 

We believe our stakeholders have gained a much better appreciation of the stakes behind public opinion not just on horse race predictions but on public issues as well.     

In celebration of the upcoming International Market Research Day (IMRD), we will have our 1st GMM on May 5, 2022 from 2pm to 4pm with the theme “Sustainability in Market Research”.

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• 9 Ways How To Do Market Research Philippines

Best Ways How To Do Market Research In The Philippines : Are you thinking about starting a new business in the Philippines or perhaps launching a product? Whatever the area of interest you are investigating, market research in the Philippines is essential.

In today’s article, we will explain how to do market research in the Philippines so that you have the best information at your disposal ready to start a new business or a new service.

We will also be discussing market research businesses in the Philippines and exploring the business model for complete beginners.

Table of Contents

How To Do Market Research In The Philippines

1. understand the need for research.

There are various reasons why a business will opt to do market research . For instance, it can be used to check the threats and risks of the business, lessen the problems, and make opportunities.

In addition, market research can be used to check issues in the past to lower the risks in the future. Another way to use the study is to examine successes in the past to see what the business can continue doing in the future.

Before starting this step on how to do market research in the Philippines, decide if the study will be used for internal or external purposes .

For internal purposes, it can be used to improve operations or the cash flow of the business. For external purposes, it can be used to convince lenders to provide a business loan. This is crucial since the research can show lenders that the business or new product or service can grow.

The research type businesses will conduct depending on the purpose. For instance, if it is for internal purposes, there can be less data needed than external purposes. But, of course, it can be used for both purposes, too. What is more important is that the purpose is determined before proceeding. 

2. Check The Outlook Of The Industry In The Philippines

This step means businesses need to check the current situation of their industry. It also includes knowing where the industry is by utilizing trends, sizes, and growth metrics.

Relevant data is important to support the claims. Lenders and investors can realize that entrepreneurs understand the industry and decide if the industry is worth the money and time. 

At the bottom of this post, we have to include several information websites that are very handy in industry research.

3. Identify Your Target Audience

Analyzing the market is crucial on how to do market research in the Philippines because not all people can be your client. That is why entrepreneurs need to know who their potential customers are. Aside from knowing who the clients are, they also have to know where the customers are from. Here are some of the things they can look to identify their target audience:

• Marital Or Family Status
• Education Attainment

After determining who the target customers are, the next thing to know is their interests, demographics, behavior, and needs. You can also consider making buyer personas based on the gathered information.

Building these can present your likely customers. This can be helpful in how your product or service can better cater to the market. Since your business will still grow, it is best to revisit your target market from time to time.

4. Observe What & Why The Competition Do What They Do

To better understand how to do market research in the Philippines, it is crucial to understand the business’s competitors. So first, businesses have to find out who the target market of their competitors are.

Then, it is important to take the time to research what other similar products or services are out there. Finally, they can check what their competitors offer, their customers, and market disadvantages.

They can do this step by listing their primary competitors. Then, they go through every competitor and identify their strengths and weaknesses through SWOT analysis . Some of the questions you can answer are:

• What Do Their Products Or Services Have That Yours Do Not Have?
• What Is The Possible Reason Why A Customer Would Purchase Their Product Or Service Instead Of Yours?
• Are They A Threat To Your Business?

After creating the analysis , it is time to rank their strengths, weaknesses, opportunities, and threats from the most to least dangerous for the business. Then, entrepreneurs can figure out their business’ marketing position and advantages. 

But most importantly, WHY !? Why are they doing selling like this? Why do they follow this process? Asking WHO, WHAT, WHERE, WHEN, WHY & HOW will help you start market research in the Philippines. For some extra ideas take a look at our free business plan!

5. Obtain Essential Information And Build Up From There

Information is the best tool when doing market research. Therefore, the business will be better if business owners put the effort in gathering and obtaining the right information from statistics, data and surveys.

They need to keep in mind that the information should be factual, unbiased, and relevant. Then, depending on correct information, they can make decisions. 

Here are some of the details that can be included in the research findings:

• An Overview Of Your Industry’s Size And Growth Rate
• The Amount Customers Are Willing To Pay
• The Expected Growth Of Your Business
• Prices Of Your Products Or Services
• Discounts That You Plan To Offer
• The Percentage Of Your Projected Market Share
• Your Outlook For The Industry
• Buying Trends
• Your Projected Cash Flow
• Your Customer Groups
• Results Of Your Other Research

Business owners can also predict other aspects from the additional information obtained, such as the buying habits of their customers, cash flow cycle, and gross profit margin.

6. Put The Research Into Action

The process of how to do market research in the Philippines may seem overwhelming, but entrepreneurs will realize how helpful it is later. Because much time was spent working on the research, putting all the extensive research into action is a must.

If the market research is done for internal purposes, the findings can be used to improve the business to make the business’ procedures more effective. The findings can help owners be better prepared to discuss their new products or services with lenders or investors for external purposes. 

Therefore, market research is not meant to be archived and used later. However, revisiting it from time to time and making changes are necessary. 

7. Utilizing Key-word & Key-phrase Search

Using keywords can help customers find your business online since website ranking is affected by the use of keywords. Therefore, it is important to know what keywords people use to search for your products or services.

The interest these keywords make, and the number of your competitors using these are other things to consider. Therefore, it is recommended to utilize a keyword search service or tool to know the ideal keywords to use for your business. 

8. View Online Content And The Comments (Blog, Youtube, Etc)

It is important to read blogs about other products and services in the business industry. Compared to normal websites, content in blogs are faster and more updated. Therefore, quality blog posts are expected to be fresh and relevant.

Business owners can understand what people need or want from the relaxed mood and fun topics of blogs. To see blogs in their niche, entrepreneurs can utilize search engines made for their blogs. Don’t forget to check out the comments on blog posts & Youtube videos!

9. Carry Out Surveys Online

Entrepreneurs can use online surveys to see how people perceive their brand. This is a budget-friendly way to know what customers will think of a new product or service. The survey can be short. 25 questions are enough to get the needed information. Close-ended questions are better for this kind of survey. 

What Does a Market Research Company Do In The Philippines?

Market research companies collect and analyze data about customers, competition, distributors, and other factors that affect the market of a business.

Specific businesses delegate a big chunk of the tasks performed by many market research companies for various purposes. However, some market research companies routinely gather a wide range of data and try to sell this information to businesses that can benefit from it. 

One of the market research firms in the Philippines is The Kadence Philippines . Their team comprises experienced professionals in the market research industry such as data processors, analysts, project managers, and researchers.

They also have international clients and provide them with additional market research and intelligence. 

Types of Market Research Companies

Organized : This type of market research company prepares reports by looking at the requirements of the market. Therefore, instead of particular businesses, their Research is for the open market. 

Customized : These firms provide personalized market research based on the needs of their clients. 

Specialty : This market research company concentrates on a specialty. They do in-depth Research based on the specific requirements set by the client. For example, they can do market feasibility studies for a product or service to be launched.

Online : These companies are beneficial for e-commerce business owners, online marketers, and bloggers. While they conduct analysis online, they also link websites or brand owners to their target market.

In addition, this kind of market research company helps online businesses to rank on search engines and trends on social media platforms such as Facebook.

Best Sources For Market Research In The Philippines

• Pew Research Center (Insights About The Trends On Social, Media, And Industry)
• Statista (Researching Data And Statistics)
• Google Trends (Popular Topics And Stories, Analysis Of Popular Top Search Queries On Google)
• Social Mention (Collection Of Socials Posts That Indicate A Specific Search Term)
• Social Weather Station (Public-Opinion Polls)
• Nielsen (What Filipinos Are Watching, Reading, Playing, Browsing, And Buying Among Many Others)

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Discover why the top global brands trust Kadence

Our Philippines office

We are a leading market research agency in the Philippines.

Made up of over 7,000 islands, the Philippines is a diverse and complex market. We help brands understand how to win in the country, deepening their understanding of Filipino consumers so they can develop products, services and comms that meet their needs.

From our base in Manila, we can conduct market research across the entire country. This means we’re also able to act as a fieldwork partner, helping organisations reach respondents across the Philippines.

We are consistently recognised as one of the top market research agencies globally

Innovation of the Year Finalist — The AURAs, 2021

Market Research Agency of the Year Winner – Gold — Agency of the Year Awards, 2021

Consultant of the Year Winner – Gold — Agency of the Year Awards, 2021

Consultant of the Year Winner — Agency of the Year Awards, 2020

Market Research Agency of the Year Finalist — Agency of the Year Awards, 2020

Market Research Supplier of the Year Winner — Marketing Research & Insight Excellence Awards – 2019

Market Research Agency of the Year Winner — Agency of the Year Awards, 2019

Global Agency of the Year Highly Commended — Market Research Society Awards, 2019

Best Training and Development Highly Commended — Market Research Society's Operations Awards, 2019

Best Data Collection (telephone) Finalist — Market Research Society's Operations Awards, 2019

Best Data Collection (face-to-face) Finalist — Market Research Society's Operations Awards – 2019

Meet Our Senior Team

Iris Lorenzo

Iris has almost two decades’ industry experience. She’s passionate about qualitative research and is a skilled moderator, international speaker, workshop facilitator and trainer. As a competitive intelligence practitioner, she also has rich experience in helping brands to understand their market position and develop an edge over the competition.

Mary Ann Lamigo

Mary Ann has 14 years of experience in the market research industry. She’s a client servicing and project management specialist and has managed a vast array of research studies across many industries. With a deep understanding of different market research techniques – spanning the operational aspects to data processing and data analytics – your research project is in safe hands.

Patrick Dailey

Patrick has a diverse experience in information technology, security, and analysis. His investigation and analyst background transitioned to business intelligence practice, big data analytics, risk assessments, and environmental impact analysis as it relates to market entry, with a special focus on technology companies. He assists North American and European companies looking for market opportunities in the Asia-Pacific region, as well as Asia-based companies looking to understand the competitive landscape in the United States.

Karlo Angelo Lazaro

Karlo has almost a decade of experience in the market research industry. He’s a quantitative specialist with specific expertise on brand health tracking, ATUs and UAI studies. He’s also experienced working with a variety of clients – big and small, local and regional – so he’s adept in delivering quality service dependent on client’s needs.

Mark Lever Dela Cruz

Lever has extensive experience in market research with almost 8 years in the industry. He’s a qualitative specialist with expertise on FGDs and has a background in brand health tracking studies. He has diverse experience in project management, planning, people management, and fieldwork technical direction for both quantitative and qualitative projects. He was able to establish a good working relationship with the clients in different industries, locally and internationally.

Marvin Cris Torre

Marvin has over a decade of experience in the market research industry. Started his career in data processing, then moved to project management and eventually joined the end client. He was exposed to brand health tracking studies and consumer insights. He’s been a specialist considering his strong background in different aspects of market research.

Join Kadence

We’re always on the lookout for bright, passionate, curious people to join our team. See our careers page for current vacancy details.

Market research services

We work with the world’s leading brands, harnessing research to unlock new ideas, develop future strategies and power business growth.

Customer and market understanding

We bring businesses closer to their customers and help them navigate the broader market, so they can future proof their strategy.

New product development research

We partner with brands to develop winning products, from concept development right through to pricing research.

Brand and advertising research

We help brands create comms that cut through by understanding the messages which truly resonate with your target audience.

Online and offline fieldwork services

We’re a trusted fieldwork partner to top-tier organisations, providing them with the data they need to drive decision-making.

Insight activation

Our work doesn’t stop at the debrief. We go further, workshopping findings and creating standout creative outputs to raise the impact of research and turn insight into action.

Our location

Kadence International – Philippines

Office P 29th Floor Robinsons Cyberscape Gamma Topaz Road Ortigas Center Pasig City Metro Manila Philippines

+639176308970

Sectors we serve

With over 30 years in the business of market research, we have extensive experience and a depth of knowledge across a range of sectors.

We bring this to bear to design the very best approach to meet your objectives.

How to conduct online market research in Asia: The Go-To Guide

What online methodologies work best in India? How do you get the most out of respondents through digital methodologies in China? Experts across our global boutique share best practice tips and techniques for conducting online market research in Asia.

How to conduct online research in the Philippines

According to Digital 2020, a report produced by We Are Social and Hootsuite, Filipinos spend the most time online and on social media of any country. Despite the Philippines lagging behind in terms of connection speed, Filipinos spend an average of 9 hours and 45 minutes a day on the internet across any device. According […]

Which behaviors will stick and which will subside in a world without restrictions? Report

It’s inevitable that we’ll see lasting behavioural change as a result of COVID-19. This report explores which of the behaviours adopted during the pandemic will stick and which will disappear once restrictions come to an end.

Please select the type of enquiry

Helping brands uncover valuable insights.

We’ve been working with Kadence on a couple of strategic projects, which influenced our product roadmap roll-out within the region. Their work has been exceptional in providing me the insights that I need. Senior Marketing Executive Arla Foods

Kadence’s reports give us the insight, conclusion and recommended execution needed to give us a different perspective, which provided us with an opportunity to relook at our go to market strategy in a different direction which we are now reaping the benefits from. Sales & Marketing Bridgestone

Kadence helped us not only conduct a thorough and insightful piece of research, its interpretation of the data provided many useful and unexpected good-news stories that we were able to use in our communications and interactions with government bodies. General Manager PR -Internal Communications & Government Affairs Mitsubishi

Kadence team is more like a partner to us. We have run a number of projects together and … the pro-activeness, out of the box thinking and delivering in spite of tight deadlines are some of the key reasons we always reach out to them. Vital Strategies

Kadence were an excellent partner on this project; they took time to really understand our business challenges, and developed a research approach that would tackle the exam question from all directions.  The impact of the work is still being felt now, several years later. Customer Intelligence Director Wall Street Journal

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Privacy Overview

Kantar talks about automated market research and why it’s the next big thing in marketing optimization

The past two years posed a drastic movement in all aspects of the society, causing a ripple effect to markets across the globe.

With changing consumer demand, businesses found ways to swiftly adjust and continue serving their respective markets efficiently and strategically – by sustaining understanding of consumer sentiments and behaviors through self-serve research platforms .

The usage of online market research platforms continues to rise, as it allows marketers to get consumer feedback quickly and cost-effectively. In the Philippines, Kantar Marketplace had a 358% revenue growth in 2021 versus the previous year, with 20 new brands from different categories using the platform.

Market research platforms have grown in sophistication in recent years, and automation no longer means having to settle for second best. Thanks to automation, speed and low cost no longer have to undermine quality. And when the benefit of market research agility is considered, concerns about automation are easily addressed. 

With this new trend in market research, more businesses are now considering the use of automated survey tools. Here we answer the five most common questions we hear from potential users of automated market research.

Don’t I need to be a research expert to use research tools?

Automated market research platforms like Kantar Marketplace now offer an array of templated tools with proven expertise already built into the research design. Concept tests, ad pre-tests, post-tests and more can now be created and launched in a matter of minutes using intuitive and user-friendly interfaces.

Isn’t there going to be a steep learning curve to new technology?

The advent of task-specific, automated tools has made the process far simpler and easier. To launch an automated study, the user interface guides you through the process, asking only those questions necessary to configure for your specific use case. Now you can get the quality consumer feedback you need quickly and efficiently.

Doesn’t market research automation mean a lack of customization?

Automated market research no longer demands complete standardization of processes to gain the benefits of efficiency and speed. 

With the shift to more specialized tools, any automated tool worth using is now easily configurable to your brand and category. Similarly, you can now specify exactly what types of consumers you want to talk to, wherever they are in the world.

Doesn’t self-serve market research mean I am on my own?

Today, digital analytics summarizes research findings succinctly and present them in an intuitive and easily comprehensible format. If you want to get more detail, you can. 

Will the results of my market research be secure?

Automated market research platforms must comply with all the latest security protocols and implement constant testing to protect client data.

Today’s automated market research platforms must offer secure sign-on, customizable access rights, and client-specific portals and dashboards, if they are to meet the needs of business.

Automated market research has come a long way.

Anyone can now take advantage of the agility that automated market research platforms offer, and have the confidence that quality and utility won’t be compromised. 

As interest about this research approach grows among business owners, increasingly more want to understand the use of online research platforms better. Wanting to give a more comprehensive walkthrough for potential users of automated market research, Kantar Philippines is hosting a virtual media and consumer event for brands, media, and creative agencies, with the agenda of presenting a platform demo and answering more experience-specific questions about the product.

The event, titled “Welcome to the Era of Agile Market Research”, aims to educate potential users on how to access the power of Kantar in just a few clicks using Kantar Marketplace Self-Serve Solutions.

The virtual event is set to happen on March 23, 2022 at 3:00 PM - 4:00 PM. Register now at bit.ly/3sXfpo8

• About HKTDC

Data and Profiles - Market Profiles

Philippines: market profile.

• HKTDC Research

1. Overview

The Philippines is one of the most dynamic and fastest growing economies in ASEAN. Between 2013 and 2022, its economy grew at an average annual rate of 4.7%. It has transitioned from an agricultural economy to a newly industrialised country in the last few decades. The Philippines now houses competitive electronics, automobile and food manufacturing sectors, and has seen notable performances in the business process outsourcing, real estate, and finance and insurance services sectors. It has a strong consumer market, supported by a large, young and well‑educated labour force, a growing middle class, spreading urbanisation, and a large amount of foreign remittance.

The Covid‑19 pandemic abruptly disrupted the growth momentum of the Philippines’ economy. Lockdown measures took a heavy toll, especially on the country’s services sectors, leading to a 9.5% contraction in real GDP in 2020. Following the relaxation of Covid‑19 mobility restrictions and mass Covid‑19 vaccination program, The Philippines economy has rebound strongly by 5.7% and 7.6% in 2021 and 2022 respectively.

Yet, facing the headwind of global slowdown in economic growth, the impact from prolonged conflict in Ukraine, and inflation pressures, economic growth is projected to moderate to 5.3 percent in 2023 by IMF in spite of supports from acceleration in public spending and improved external demands for Philippines exports. IMF forecast the Philippines will regain momentum in 2024 with a forecast of growing 6.0%.

2. Major Economic Indicators

Please click the charts to view animation and download data.

3. External Trade

3.1 Merchandise Trade and Trade in Services

3.2 Major Export/Import Commodities and Markets

4. Trade Policies

• The Philippines has been a member of the World Trade Organization (WTO ) since 1 January 1995.
• The country’s Department of Trade and Industry (DTI ) is responsible for the implementation and co-ordination of trade and investment policies, as well as for promoting and facilitating trade and investment.
• In 2020, the Philippines' simple average Most Favoured Nation (MFN) tariff was 6.1%, with a higher tariff rate of 9.8% for agricultural products and 5.5% for non-agricultural products. The tariff schedule can be found on the website of the Philippines’ Tariff Commission .
• The Philippines government imposes higher tariffs, as well as other non-tariff barriers, on certain products to protect local producers in the agricultural and manufacturing sectors. For example, a tariff of up to 30% is imposed on completely built passenger vehicles. The Philippines maintains the implementation of two-tiered tariff policy. Tariff-rate quotas (TRQs) are imposed on numerous agricultural goods, including sugar, corn and poultry products.  A vast range of goods are subject to licences or permits when imported.
• The Philippines government keeps increasing tariffs for some products, especially for the products harmful people’s health. For example, the ad valorem tax is 22% on distilled spirits in 2022, which is 2% higher than that in 2019.
• Value added tax (VAT) applies to nearly all imported goods and services, including raw materials and packaging. Food products and agricultural inputs are exempt from VAT, which is typically levied at 12%. Excise taxes are levied on certain imported alcoholic beverages, tobacco products, automobiles, petroleum products, minerals, cosmetics, and jewellery.
• The Philippines has reformed its food safety regime based on a 'farm-to-fork' approach. A new Food Safety Act was promulgated in 2013, and its implementing legislation came into force in 2015. However, the Philippines' sanitary and phytosanitary measure (SPS)-related import requirements for food, which appear to be complex, remain largely unchanged.
• The Department of Trade and Industry 's Bureau of Philippine Standards (BPS ) has implemented a product certification mark scheme to verify that products conform to national and international standards. This covers critical products, such as electrical equipment and electronics, as well as consumer, chemical and construction and building materials. Products manufactured locally must bear a Philippine Standard mark, while imported products must bear Import Commodity Clearance certification marks issued by the BPS .

Sources: WTO – Trade Policy Review, Fitch Solutions, trade.gov, PwC

5. Trade Agreements

• The Association of South East Asian Nations (ASEAN) Free Trade Area (AFTA)
• ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA)
• ASEAN-Mainland China
• ASEAN-South Korea
• ASEAN-Japan FTA
• ASEAN-India FTA
• ASEAN-Hong Kong FTA (AHKFTA)
• Global System of Trade Preferences among Developing Countries (GSTP)
• Philippines-Japan Economic Partnership Agreement
• Philippines-European Free Trade Association (EFTA) FTA
• Philippines-South Korea FTA
• Philippines-India PTA
• Protocol on Trade Negotiations (PTN)
• Regional Comprehensive Economic Partnership (RCEP)

  Under Negotiation

• Philippines-EU FTA

Sources: WTO Regional Trade Agreements database, Fitch Solutions

6. Investment Policy ​​​​​​​

• The Philippines Board of Investment (BOI ), a subsidiary of the DTI , is responsible for promoting investment, as well as implementing and co-ordinating investment policies. A company looking to invest must secure licences and registration certificates. This process usually begins with the Securities and Exchange Commission (SEC ) for company registration.
• One recent and significant investment policy of the BOI is the Strategic Investment Priorities Plan (SIPP). Incentives like Income Tax Holiday (ITH) will be offered for different investment priority sectors such as some industries generating value creation through innovation or upgrading, as well as the industries with high potential job creation.
• The Philippine Economic Zones Authority (PEZA ) manages more than 400 special economic zones (SPZs) in the Philippines, designated for the IT, science, manufacturing, agro-industrial, tourism and medical tourism sectors.
• The government maintains a Foreign Investment Negative List which specifies the sectors in which foreign ownership is either restricted by constitutions and specific laws (for example, foreign equity is prohibited in the mass media sector) or limited due to reasons of national security or public health (this includes sectors such as educational institutions and advertising). The government publishes regular updates to the negative list – the most recent update was made in June 2022, when restrictions were gradually reduced on a number of sectors. For example, capitalisation requirement for foreign investment in retail trade enterprises was decreased to a paid-up capital of at least PHP25,000,000.
• An enterprise registered with the BOI in accordance with the 1987 Omnibus Investments Code is entitled to a range of incentives, provided they meet the requirements listed. Fiscal incentives such as an income tax holiday, tax credits on raw materials and duty waivers on the importation of equipment, along with certain non-fiscal incentives, may be provided. Projects that are eligible for incentives under the BOI include investments in the manufacturing of goods not yet produced in the Philippines, manufacturing that uses new methods or designs, agriculture, forestry, mining, services, non-conventional fuels, enterprises exporting at least 70% of their output and projects in less developed areas. Incentives are also available to businesses that set up in one of the numerous special economic zones which operate outside the Philippines customs area and offer substantial fiscal and non-fiscal advantages to businesses.
• The Philippines is fast becoming a fintech, blockchain and cryptocurrency hub. This is largely due to the relatively accommodating stance which the Philippines’ financial authorities have taken toward cryptocurrency and blockchain adoption.
• Foreigners are banned from fully owning land. However, foreign investors can lease a contiguous parcel of up to 1,000 hectares for 50 years (renewable one time for an additional 25 years) in order to establish industrial estates, build factories and processing plants, create agro-industrial enterprises, or develop land for industrial or commercial use, tourism, or other similar priority productive endeavours, while at the same time protecting agriculture.
• Philippine law allows for the expropriation of private property for public use or in the interest of national welfare or defence and offers fair market value compensation. In the event of expropriation, foreign investors have the right to receive compensation in the currency in which the investment was originally made and to remit it at the equivalent exchange rate.
• Foreign investors and firms can now participate 100% in the exploration, development and use of renewable energy, including solar, wind, biomass and ocean, following the ease of restriction by the country’s Department of Energy (DOE) in November 2022. Foreign companies are also allowed to fully own certain public services in the Philippines since 4 April 2023. Foreign investors can now own 100% of businesses in select public service sectors, such as airports, telecommunications, railways and expressways. However, foreign entities remain limited to 40% ownership of public utilities such as water and waste water pipeline distribution systems; seaports; public vehicles; electricity transmission and distribution; and petroleum and petroleum products pipeline transmission systems.
• From the year 2022, corporate income tax (CIT) is reduced to 25% for all foreign corporations. The CIT will be reduced by 1% each year until 2027, when the figure will stabilise at 20%.
• The level of required paid-up capital for overseas retail enterprises looking to set up business in the country is reduced to US$0.5 million. Eligibility for these lowered thresholds is restricted to retailers whose countries of origin have previously opened up their own markets to Filipino retailers. In order to boost tech sector, foreign-owned companies are allowed a minimum paid-up capital of US$100,000, half of previous requirement. Such enterprises must fulfil some requirements that facilitate technology and skills transfer to local workers. For example, it must use advanced technology and employ at least 15 local employees.

Sources: WTO – Trade Policy Review, Philippines Board of Investments, United States Department of State, PwC, Fitch Solutions

7. Social and Economic Indices

Sources: IMD, Transparency International

8. Hong Kong Connection

8.1 Hong Kong’s Trade with Philippines

• In 2022, the Philippines was Hong Kong’s 11 th largest trading partner globally (accounting for 1.4% of the city’s total trade) and the 5 th  largest among ASEAN members.
• In 2022, the Philippines was Hong Kong’s 17 th largest export market globally (accounting for 0.8% of its total exports) and the 5 th largest among ASEAN members. ​​​​​​​
• In 2022, the Philippines was Hong Kong’s 9 th largest import market globally (with 1.9% of its total imports) and the 4 th largest among ASEAN members.

Note: * less than 0.1% Source: Trade and Industry Department

Source: Hong Kong Tourism Board

8.2  Commercial Presence in Hong Kong

Note: Figures refer to the reference date of 1 June 2022 * Figures are not released owing to small number of companies, i.e. less than 5 or to safeguard the confidentiality of the small figures. Source: Census and Statistics Department

8.3 Treaties and Agreements between Hong Kong or mainland China with the Philippines

• The Philippines has a Bilateral Investment Treaty with mainland China that came into force on 8 September 1995.
• The Philippines has a Double Taxation Agreement with mainland China that has been applicable since 1 January 2002.
• The Philippines has a Free Trade Agreement (from 12 May 2020) and an Investment Agreement (from 17 June 2019) with Hong Kong though ASEAN.

Source: UNCTAD

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100 best marketing research topics for all.

Because of the many aspects of marketing, choosing marketing topics to write about may put one in a dicey situation. This article provides some hot topics in marketing that will help you select an area of focus and select relevant topics from that niche. From marketing research topics for college students to social issues in marketing, we have got you covered! So sit down and relax as we take you through the list of marketing research topics our professional writers prepared just for you!

Marketing Thesis Topics

Are you in need of well-thought-out marketing thesis topics and marketing dissertation topics? Then you’re in the right place! This list of marketing paper topics presented will give you a distinct thesis/dissertation.

• Analysis and determination of consumer buying behavior for Coca-Cola
• A study on famous well-marketed brands that got away with selling substandard quality products
• A study showing the impact of advertising on consumer behavior
• Brand advertising and political campaigns: a possible interwoven impact?
• A review of the outcomes of advertising in a recession
• Exhaustive research on how brands exploit impulsive buying
• A study of how celebrity endorsements on ROI affect CPG brands
• A survey of the impact of augmented reality on marketing experiences
• Critical research on how AI will help make better marketing decisions
• A study of the perspective and reception of Americans to targeted ads based on their browser history

Current Marketing Issues

There are numerous marketing issues around the world today. These global marketing issues threaten the survival of many businesses and the economy at large. Here is a list of current marketing issues!

• A decline in organic reach on social media platforms
• Difficulty in building a well-recognized brand name
• Getting readers to see content
• Understanding marketing results
• Marketing budgets included by BREXIT
• Optimizing business for voice search
• Bridging the technology gap
• Ensuring compliance with GDPR
• Overdependence of potential customers on amazon
• The effect of COVID-19 on the global economy

Marketing Research Topics

Getting marketing topics for research has been made considerably more comfortable with this list of marketing research paper topics. Ready to explore the marketing research topics we have, let’s delve right in!

• Exploring how organizations use corporate social responsibility (CSR) to reinforce brand equity
• The effect of social media on buying choices
• Online purchasing: a study of the product characteristics buyers look for
• An exploration of the differences in marketing strategies across cultures
• Manipulation tactics: how brands can get more customers
• A study of how customer loyalty is affected by brand image
• Analyzing how TV advertising affects the top of mind awareness
• Do people appreciate being click baited into sponsored posts?
• A study on how to make customers purchase goods and services in the luxury category

Digital Marketing Blog Topics

Digital marketing remains a very important aspect of marketing in the world today. Here are some very juicy digital marketing topics you can write a great blog on!

• 10 insightful differences between paid search and organic search
• Tips for promoting content on Pinterest
• SEO tactics to avoid like the plague
• How to increase your followers on social media
• Best tips to help you grow your paid social ROAS
• Why should you follow your competitors on social media?
• Dos and don’ts of social media marketing
• How to create content your audience will be eager to share

Marketing Essay Topics

• What is the most effective form of marketing?
• Internet marketing trends to expect in the future
• What important brand attributes lead to an increase in customer loyalty?
• A look into marketing approaches that broke through strong market monopoly
• The impact of social media on consumer buying behavior
• Comparison of advertising versus building brand equity
• Rebuilding trust in influencer marketing
• How to generate leads effectively

Content Marketing Topics

• 10 biggest graphic design mistakes companies make in their marketing pieces
• How to create captivating e-newsletters that people will pay attention to
• Repurposing marketing content for small businesses
• Working more micro-content into marketing efforts
• Multi-step versus one-step content marketing campaigns
• The five Cs when creating content marketing copy
• Creating compelling content marketing campaigns in 10 steps
• Content marketing: how to generate more leads and close sales

Strategic Marketing Problems

There are many marketing problems in companies and businesses that threaten to cripple the advancement of the industry. Here is a list of some marketing problems you may be willing to proffer solutions to.

• Inability to explain products or services delivered
• Not clearly defining a company’s market segment
• Lack of innovating commercial department
• Lack of business visibility
• Missing links between sales and marketing departments
• Lack of marketing plan
• Lack of personal branding, brand image, and professional reputation
• Thinking the company or business can survive without marketing

Marketing Blog Topics

• Facebook advertising: pros and cons
• 10 benefits of inbound marketing
• The most frustrating problems faced in inbound marketing
• How to generate subscribers for your blog faster than ever!
• 10 benefits of content marketing lead magnets
• Five video content marketing myths you must discard
• 30 social media campaign ideas from big brands

Controversial Marketing Topics

• Does google give preferential treatment to big brands?
• Does social media affect SEO ranking?
• Are grey SEO techniques safe?
• Are YouTube videos more engaging than TV ads?
• Are building e-mail lists still one of the best ways to sell?
• Will immersion marketing through VR technology to be accepted?

Sport Marketing Research Topics

Sports marketing continues to remain a significant source of revenue. Hence, research in this area will continue to stay relevant. Here are some sport marketing topics you could consider working on.

• How the extraordinary content offered by intelligent chatbots can help sports teams strengthen fan loyalty
• Emerging opportunities in sports marketing and how to capitalize on them
• How to effectively capitalize on the wearables market
• Should more women and children get into sports?
• Should seniors be allowed to participate in some games?

Marketing Presentation Topics

• Mastering in-house SEO
• The path to gaining and building customers trust
• Brand awareness versus ROI
• Effectively personalizing customer communications
• The best SEO strategies that increase site traffic

International Marketing Topics

Marketing connects the global world, and this is why it is essential to marketing development. Here are some international marketing topics to consider!

• The effect of globalization on consumer behavior
• How do international brands compare to local brands?
• Do international brands always have advantages over a local brand?
• Creating brand awareness by utilizing global event marketing
• How to market products on an international level

Marketing Plan Topics

• The importance of a marketing plan to the success of a business or product launch
• Building a tactical marketing plan
• How is a marketing strategy different from a marketing plan?
• Indispensable parts in writing a marketing plan

Ethical Issues In Marketing

• Targeted Ads based on browser history
• Immersion marketing through virtual reality
• The exploitation of impulsive buying
• Click baiting into sponsored posts

Affiliate Marketing Topics

• How to find profitable niches in affiliate marketing
• How to get readers interested in what you market
• How to build a personal website: the ultimate guide

Congratulations! We hope you have been able to guide you in choosing your desired topic in marketing successfully. Alo, you can check out our business topics. We wish you the best in your research!

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Business Promotion: 50 Marketing Ideas for Pinoy Entrepreneurs

Last Updated – Feb 28, 2023 @ 5:45 am

Imagine you have a restaurant. You’re sure you have the best menu in your city, but no one still buys from you.

Building a business is only a small step in achieving success. If you want to attract customers, you need to be well-versed in marketing.

Marketing helps build brand awareness, increase sales , and develop brand trust. Without proper marketing, you will surely suffer from a lack of sales. If you are clueless about how to market your business, we’ve compiled this in-depth guide for you. 

What is Marketing?

Marketing refers to activities that businesses execute to promote and sell their products and services, or sometimes utilized to promote an organization’s cause.

One of the major reasons why you should prioritize marketing is because it gets the word out about your business. When you create brand awareness, more people can understand what you have to offer, and this will create a demand for your products.

Aside from building awareness, it also increases your sales. When people know about your brand, you can affect their purchasing decision. 

In time, marketing will also help you build brand trust. Building your reputation takes time and effort but once you can establish trust through marketing, people will openly talk about your brand and share it with their friends. 

Types of Marketing

In this section, we will explore the different types of marketing you can implement in your business. 

• Digital Marketing

This type of marketing strategy leverages the use of online platforms to implement brand awareness, and inspire audiences to buy products. It includes the following types:

Search Engine Marketing & Search Engine Optimization

Search Engine Marketing or SEM is a paid form of advertising that ensures people can see your website when they search for your products on search engines. The cost is based on a pay-per-click basis so it’s cheaper. 

On the other hand, Search Engine Optimization or SEO refers to producing high-quality content, as well as other techniques that increase your ranking on search engines in an organic way. 

These two methods are extremely beneficial because when consumers are searching for products on search engines, they are already in the right headspace to buy items. 

Content marketing

This marketing type helps you attract potential buyers and retain old ones by creating and publishing relevant content through your social media platforms. Keep in mind that your content should be geared towards answering the pain points of your target audience. Content can come in the form of:

• Infographics

Email marketing 

Email marketing is one of the most effective ways you can reach and convert leads online.

Whatever industry you belong to, make sure to build your email list as early as you can so more people can see your unique offers. Email marketing is also very easy to automate and track.  

Social media marketing

If you’re not promoting your business on Facebook, Twitter, Instagram, Tiktok, and other social media channels, you are missing out on thousands of sales.

Social media is an avenue that will help you develop a better connection with your customers. This will drive them to make a purchase and even become brand advocates.  

Influencer marketing

This type of marketing strategy allows brands to piggyback on the fame of a well-known internet personality or celebrity. Because these people already have loyal followers that treat them as an expert in their niche, they are more likely to listen to their suggestions.

To reach influencers and tap them for sponsorships or affiliate marketing opportunities , you can do the following:

• Hire an agency to reach them on behalf of your brand
• Manually reach them in their social media accounts
• Use an influencer marketing platform or speak to an influencer agent

Traditional Marketing

Just because we’re already living in the digital age does not mean you should forget about traditional forms of marketing. For many industries, especially local ones, traditional marketing still reigns supreme. Traditional marketing includes:

• Radio spots
• Newspaper & Magazine ads
• Public relations
• Event marketing
• Outbound (cold calls & emails)
• Guerrilla marketing
• Cause marketing
• Word-of-mouth
• Field selling

Paid Advertising

Paid advertising covers all types of marketing efforts where you pay a specific amount in exchange for your target audience to see your brand efforts like advertisements. Some of the most relevant forms of paid advertising include:

• Facebook & Instagram ads
• YouTube ads
• PPC (display ads & paid search)
• TV & radio commercials
• Print advertisements

5 Useful Tips for Promoting & Marketing your Business

If you are intimidated by marketing, these tips below will help you figure out where to start.

1. Know your target audience

Your target audience refers to the group of consumers that will most likely buy your products or services. Therefore, this is the group you want to see your marketing efforts. Your target audience is dictated by the following factors:

Before creating your marketing strategy, understanding who your target audience is is vital.

For example, you may think airing a TV advertisement on primetime may seem like an awesome idea, but what if your target audience are those who don’t have televisions? Your money would only go to waste.

When you know how your target audience is, you can increase your advertising ROI. It will also be easier to tailor your message so customers can relate to it more.

2. Highlight your USP

Whatever industry you belong to, you probably have tons of competition; and considering how accessible worldwide shipping is today, it’s not just your local competitors you have to be concerned with.

Because customers are presented with tons of options for products, you need to position your brand well and set it apart from others. This is where your Unique Selling Point or USP (or sometimes called Unique Value Proposition) comes into the picture.

USP is the thing that makes your brand better than anyone else. It is a unique benefit that enables you to stand out. When you figure out what your USP is, this can be the focus of your marketing message, branding , and even copywriting efforts.

Your USP highlights your strengths. It should be assertive, yet not generic. For instance, selling “high-quality t-shirts” is not a USP. Instead, your USP can be “selling t-shirts made from recycled fabric.” 

Additionally, your USP should also lean towards what your customer values. Going back to the t-shirt example, people who want to live a more sustainable life would want to get your product. 

3. When one strategy works, give it more focus

When you’re still starting to exercise your marketing strategies, expect to do a little trial and error. For instance, in the first few months of your business, you may focus your marketing efforts on Instagram, Facebook, and Tiktok.

After a few weeks, try to see which platform performed best. Focus on the platform that gives you the best and most consistent metrics.

4. Leverage connections with existing customers

It’s harder to acquire a new customer than to close a purchase with an existing one. Considering this, don’t stop your marketing efforts after you have closed a purchase.

One of the best techniques you should exercise is to identify unique opportunities and selling points that will encourage repeat purchases, cross-selling, and upselling. 

Because these people have already purchased from you, they have already developed trust in your brand. If you continually give them a positive experience, they will choose to do business with you again and again.

More than that, they would be more willing to share their experience with their peers. 

5. Create a strong brand image online

Your brand image refers to how other people think of your brand. This perception can be formed based on people’s interactions and experiences with you.

Because your brand image is all about perception, you can’t directly control it. However, many factors will help you influence how other people see your brand, especially in the online realm.

If you want to have a strong brand image, you need to create a great first impression. When people encounter your brand, it should grab their attention and make them want to learn more about you.

Your online brand image should be guided by your mission, vision, and values. When you are inconsistent about what you stand for, people will not see you as someone trustworthy.

Additionally, it is also recommended to invest in your branding design. One great way to stand out is to ace your visuals. If you have a badly designed website or a terrible logo, it would only put people off. 

It’s important to note that creating a good online brand image does not happen overnight. It takes time so you have to be patient.

When you keep providing the best experiences to your customers through your products, promotional efforts, customer service, and content, this will follow.

50 Marketing Ideas to Grow your Business & Get more Customers in the Philippines

Feeling uninspired on which strategy to try? These business promotion ideas will jumpstart your marketing efforts. 

1. Advertise on Facebook

With 76 million users from the Philippines, Facebook remains one of the best platforms to exercise your marketing efforts. Facebook also makes it easier for businesses to reach specific goals such as increasing awareness, converting users, and attracting leads, among many others.  

2. Get yourself published online

Another amazing way to get the word out about your business is to get published online. Look for trusted media partners and see whether they can feature your business in their content. 

3. Sponsor a local or online competition

Sponsoring an event in exchange for funds or products will enable your brand to reap the benefits related to exposure. 

4. Connect with influencers

Your customers actively avoid ads. However, you can piggyback on their trust towards an influencer in your niche. When influencers share your products, it can increase your brand awareness.

5. Reward repeat and loyal customers

Whether you give discounts, free shipping codes, freebies, or loyalty points, rewarding your loyal customers will encourage them to purchase repeatedly. 

6. Cross-promote with other local businesses

This strategy can be done in a myriad of ways such as creating co-branded content, running online giveaways, or organizing an event. 

7. Promote your products through content marketing

One of the best ways to demonstrate how your product or services work (as well as your expertise) is by creating actionable guides or tutorials that details how your business can help solve your target audience’s problems .

People will easily trust your brand if you put out accurate information. Aim to become an industry leader by posting relevant content to your niche. Several content formats that you can explore in publishing:

• long-form “how-to” or “list” articles
• infographics

8. Participate in trade fairs and expos within your industry

If you own a local business, one great way to get more people to know about your brand is to participate in expos and fairs. For a small fee, you can rent a table or booth and sell products.

9. Sponsor an awards ceremony

When you sponsor awards, your brand can gain exposure to industry leaders. When influential people notice your brand, they can use their power to increase your brand awareness.

10.  Offer discounts

One of the biggest factors why people don’t purchase products is due to price. By offering discounts, you can solve this challenge. 

11.  Teach your expertise and/or become a public speaker

Teaching other people about your industry will build brand trust because they will see you as an industry leader.

12.  Use Twitter

You may think all your marketing efforts should only be focused on Facebook, TikTok, or Instagram, but Twitter is still a major player in the marketing field, with 10.2 million users in the country. 

13.  Wrap Your Car with a design that advertises your business

Cars that are designed with advertisements are mobile so it’s like a moving billboard. It can easily grab the attention of other people, especially if you have a local business. 

14.  Create lead magnets

Lead magnets are special offers that are promoted to your target audience in exchange for their email address that you can use to build your email list. This could be in a form of free mini-courses, market reports, checklists, or exclusive case studies.

15.  Create an email newsletter

When you create a newsletter for your brand, people can understand your products and services better than any advertisement could. 

16.  Make a Facebook page for your business and consistently post interesting or engaging content

One of the upsides of Facebook is it is very easy to share content. When you have an engaging Facebook page, your customers can share your posts with their friends. 

17.  Advertise on other people’s e-newsletters

Don’t have time to make your newsletter? Advertising on the popular newsletters in your industry will greatly help your brand.

18.  Ask for testimonials and highlight them on your social media page and website.

People love to hear about genuine customer experiences . Ask your previous customers for comments and feedback in exchange for a reward and post it on your online channels. 

19.  Join contests or similar events

When your products or services have reaped awards, people will trust your brand more. 

20.  Become a sponsor of the local sports event

If you have a niche business, this is an amazing marketing strategy to target hundreds or even thousands of people at once. For instance, if you own a surf shop, you can sponsor a local surf competition. 

21.  Leverage your email signature

You may already know the importance of making your first impression count, but what about your last impression? Your email signature is the final communication point between you and your customers so make it count. 

22.  Attend traditional networking events

When it comes to businesses, it’s not just about what you can offer, but also who you know. Networking events will help you get in touch with key industry players and customers. 

23.  Write a guest blog

Guest blogging allows you to share your expertise on other websites. Therefore, you can establish yourself as an authority figure in your industry.

24.  Advertise on websites or blogs

If you want to increase your website traffic and brand awareness, try this tip. It’s also very affordable. 

25.  Create contests

When you create content, whether it’s online or not, you can drive brand awareness and increase audience engagement at the same time.

26.  Create a YouTube page and post helpful videos related to your business/expertise

This is another way to build your brand authority. Videos have increasingly become today’s most popular medium. You can even repurpose this content.

27.  Set up your Google My Business profile

When you set up your business profile on Google, you can list your business on Google Maps, and it will become easily searchable. 

28.  Write and launch a free ebook

Launching an ebook is another strategy to build brand authority. More than that, it’s also an awesome way to reward your email list. 

29.  Post videos on TikTok

If you want to showcase your unique brand personality, TikTok is the best platform. This is especially beneficial for brands whose target market belongs to Gen Z. 

30.  Give freebies

Giving freebies will enable your customers to associate positive feelings with your brand. It will also encourage them to keep ordering from you.  

31.  Leverage SEO for your website

SEO will help you improve your online visibility and credibility. Building awareness through organic traffic is also very affordable compared to paid marketing opportunities. 

32.  Create an e-brochure

An e-brochure will give your current and potential customers the ability to know more about your brand, services, and products interactively. 

33.  Update your website’s design for better aesthetics

Good website design is not optional. It is mandatory. If your website doesn’t look professional, people wouldn’t trust you. 

34.  Create downloadable whitepapers

Whitepapers may seem old school but people will appreciate this informational document. It can also help you build your credibility. 

35.  Start a podcast

A podcast is an emerging media type. By starting one, you can increase the size of your audience and explore different topics related to your brand.

36.  Sponsor a Motorcycle Ride

Motorcycle rallies are still very common in the Philippines. It is a great way to let motorcycle riders and people in the street know about your brand. 

37.  Make attractive business cards and always carry them

Great business cards prove that you are serious about your brand. This is useful especially if you have a physical store or you attend networking events. 

38.  Create a better landing page on your site

Your landing page allows you to build your customer base, and increase conversions.  Do not put this opportunity to waste. 

39.  Give useful comments on other people’s blogs and link to related resources to your site

You’ll be surprised at how many people will find you through blog or forum comments. As much as you can, point people in the right direction towards your brand. 

40.  Give something for free

By giving away free products, your customers will think that you are generous. This makes many people feel obliged to reciprocate by buying something from you in the future. 

41.  Create a unique logo and tagline

Your logo and tagline give face and character to your brand. When you don’t make it count, you won’t generate a good first impression. 

42.  Leverage your friends and family network

Instead of focusing solely on building new connections, take advantage of your old ones. The people who care about you are most likely to give you a helping hand. 

43.  Send birthday greetings to your customers

This strategy is a surefire way to make your customers feel like you genuinely care about them. Aside from greeting them, you can even send them a special discount code. 

44.  Create a viral social media post

Lower advertising costs, lightning-fast growth, and mainstream exposure – what’s not to like about becoming viral? 

45.  Make a blog and write high-quality content for your target demographic

The more high-quality content you create, the more you will show up in search engines. More people will also use you as an information source.

46.  Join an association or organization related to your business

Joining an industry-focused group or organization will allow you to grow your network, and find new advertising opportunities. 

47.  Team up with your local LGU

Most LGUs and MGus welcome brands that want to help them. You can partner with government offices for programs and build a better connection with your local community. 

48.  Make T-shirts

When you give your customers t-shirts, they become an advocate for your brand. This unique marketing strategy is also affordable, considering your customers can wear the shirt for years. 

49.  Instagram Live/Facebook live

Instagram and Facebook live allow you to directly connect with your customers, and establish your brand. You can also repurpose this content. 

50.  Offer free workshops or online webinars

Doing this will set your brand apart from the competition. It also drives audience engagement, and it gives you an opportunity to sell a product or service without being too aggressive. 

Read Next: Top Digital Marketing Agencies in the Philippines

About MJ de Castro

MJ de Castro is the lead personal finance columnist at Grit PH.

MJ started her career as a writer for her local government’s City Information Office. Later on, she became a news anchor on PTV Davao del Norte.

Wanting to break free from the shackles of her 9-to-5 career to live by the beach, she pursued remote work. Over the years, she has developed a wide specialization on health, financial literacy, entrepreneurship, branding, and travel.

Now, she juggles writing professionally, her business centering on women’s menstrual health, and surfing.

Education: Ateneo de Davao University (AB Mass Communication) Focus: Personal Finance, Personal Development, Entrepreneurship, & Marketing

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How marketers can incorporate text-to-image generative ai tools.

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A recent Gartner study found that 63% of marketing leaders plan to invest in generative AI tools in the near term. This is unsurprising given the number of potential marketing uses, such as automating routine editing tasks, delivering personalized experiences at scale or employing predictive models. One important area of marketing where generative AI can have significant impact is the creative process. Indeed, creativity has proven to be Gen AI’s “killer use case” , with 15+ billion images created with AI between 2022 and 2023, a figure greater than the total number of photos on Shutterstock and equal to one-third of all the images ever posted to Instagram.

With the explosion of social media, marketing teams are having to create more content and deliver it quicker than ever. This increased pressure applies to both creatives and designers who produce final outputs, and marketing managers who strategize and are now finding themselves responsible for posting social media content with increased velocity. More media is required, more insight on what works is required, production time frames are shorter and more reactionary posts are needed. To cope with this heightened pressure to create more content, marketing leaders will need to find ways to be more efficient and productive.

Text-to-image generative AI models can help solve this problem by accelerating ideation and boosting productivity of marketing teams. To better understand such generative AI tools and how they could be used by marketing teams, I connected with Praveen Krishnamurthy, who is a Product Marketing Manager at Adobe and does research on this topic. Krishnamurthy explained, “these text-to-image tools allow users to edit or produce imagery by using textual prompts; they are easy to use and empower marketers to create rich imagery from scratch and to make complex edits quicker.”

When asked how the marketing teams can adopt these generative AI models to improve efficiency, Krishnamurthy indicated “my research identifies three contexts in which they can leverage these tools – automating repetitive editing tasks, rapid prototyping and idea generation. First, marketing teams could automate repetitive tasks in editing images. This includes aspects like background removal, background replacement, object removal, adding or inserting new objects, lighting adjustments and expanding the dimensions of images. Editing images to produce high-quality final output is time consuming and requires highly skilled designers. Generative AI can save invaluable time in this part of the production process.

Second, generative AI can also save you a ton of time in rapid prototyping. If your creative team has a visual concept designed, you’d often want to test and experiment with different colors and settings. For example, if you are considering a new packaging design, text-to-image generative AI tools can offer mock-ups of a variety of visual options to choose from, including multiple color schemes, typography and imagery, making it easier and quicker to assess and iterate with different ideas.

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Finally, if marketing teams have an initial idea or concept in mind, a text-to-image generative AI tool can give them a big boost by producing a diverse range of imagery that can spark their creativity. For instance, if you are working on a campaign focused on new eco-friendly packaging, you can start brainstorming by asking a text-to-image model to generate images that convey sustainability and eco-friendliness. The visuals so generated will serve as great conversation starters and accelerate the idea generation process.”

When asked to provide an example, Krishnamurthy pointed to Owen Jones, a creative agency working with some of the top global brands, as a company that has successfully adopted text-to-image generative AI for early ideation and generates rough drafts in seconds to determine whether their ideas will work.

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Is College Worth It?

1. labor market and economic trends for young adults, table of contents.

• Labor force trends and economic outcomes for young adults
• Economic outcomes for young men
• Economic outcomes for young women
• Wealth trends for households headed by a young adult
• The importance of a four-year college degree
• Getting a high-paying job without a college degree
• Do Americans think their education prepared them for the workplace?
• Is college worth the cost?
• Acknowledgments
• The American Trends Panel survey methodology
• Current Population Survey methodology
• Survey of Consumer Finances methodology

A majority of the nation’s 36 million workers ages 25 to 34 have not completed a four-year college degree. In 2023, there were 19 million young workers who had some college or less education, including those who had not finished high school.

The overall number of employed young adults has grown over the decades as more young women joined the workforce. The number of employed young adults without a college degree peaked around 1990 at 25 million and then started to fall, as more young people began finishing college .

This chapter looks at the following key labor market and economic trends separately for young men and young women by their level of education:

Labor force participation

• Individual earnings

Household income

• Net worth 1

When looking at how young adults are doing in the job market, it generally makes the most sense to analyze men and women separately. They tend to work in different occupations and have different career patterns, and their educational paths have diverged in recent decades.

In 1970, almost all young men whose highest educational attainment was a high school diploma (98%) were in the labor force, meaning they were working or looking for work. By 2013, only 88% of high school-educated young men were in the labor force. Today, that share is 87%.

Similarly, 96% of young men whose highest attainment was some college education were in the labor force in 1970. Today, the share is 89%.

By comparison, labor force participation among young men with at least a bachelor’s degree has remained relatively stable these past few decades. Today, 94% of young men with at least a bachelor’s degree are in the labor force.

The long-running decline in the labor force participation of young men without a bachelor’s degree may be due to several factors, including declining wages , the types of jobs available to this group becoming less desirable, rising incarceration rates and the opioid epidemic . 2

Looking at labor force and earnings trends over the past several decades, it’s important to keep in mind broader forces shaping the national job market.

The Great Recession officially ended in June 2009, but the national job market recovered slowly . At the beginning of the Great Recession in the fourth quarter of 2007, the national unemployment rate was 4.6%. Unemployment peaked at 10.4% in the first quarter of 2010. It was not until the fourth quarter of 2016 that unemployment finally returned to its prerecession level (4.5%).

Studies suggest that things started to look up for less-skilled workers around 2014. Among men with less education, hourly earnings began rising in 2014 after a decade of stagnation. Wage growth for low-wage workers also picked up in 2014. The tightening labor markets in the last five years of the expansion after the Great Recession improved the labor market prospects of “vulnerable workers” considerably.

The COVID-19 pandemic interrupted the tight labor market, but the COVID-19 recession and recovery were quite different from the Great Recession in their job market impact. The more recent recession was arguably more severe, as the national unemployment rate reached 12.9% in the second quarter of 2020. But it was short – officially lasting two months, compared with the 18-month Great Recession – and the labor market bounced back much quicker. Unemployment was 3.3% before the COVID-19 recession; three years later, unemployment had once again returned to that level.

Full-time, full-year employment

Since the Great Recession of 2007-09, young men without a four-year college degree have seen a significant increase in the average number of hours they work.

• Today, 77% of young workers with a high school education work full time, full year, compared with 69% in 2011.
• 83% of young workers with some college education work full time, full year, compared with 70% in 2011.

The share of young men with a college degree who work full time, year-round has remained fairly steady in recent decades – at about 80% – and hasn’t fluctuated with good or bad economic cycles.

Annual earnings

Annual earnings for young men without a college degree were on a mostly downward path from 1973 until roughly 10 years ago (with the exception of a bump in the late 1990s). 3

Earnings have been increasing modestly over the past decade for these groups.

• Young men with a high school education who are working full time, full year have median earnings of $45,000 today, up from $39,300 in 2014. (All figures are in 2022 dollars.)
• The median earnings of young men with some college education who are working full time, full year are $50,000 today, similar to their median earnings in 2014 ($49,100).

It’s important to note that median annual earnings for both groups of noncollege men remain below their 1973 levels.

Median earnings for young men with a four-year college degree have increased over the past 10 years, from $67,500 in 2014 to $77,000 today.

Unlike young men without a college degree, the earnings of college-educated young men are now above what they were in the early 1970s. The gap in median earnings between young men with and without a college degree grew significantly from the late 1970s to 2014. In 1973, the typical young man with a degree earned 23% more than his high school-educated counterpart. By 2014, it was 72% more. Today, that gap stands at 71%. 4

Household income has also trended up for young men in the past 10 years, regardless of educational attainment.

This measure takes into account the contributions of everyone in the household. For this analysis, we excluded young men who are living in their parents’ home (about 20% of 25- to 34-year-old men in 2023).

• The median household income of young men with a high school education is $75,200 today, up from $63,800 in 2014. This is slightly lower than the highpoint reached around 2019.
• The median household income of young men with some college education is $92,200 today, up from $81,100 in 2014. This is close to the 2022 peak of $93,800.

The median household income of young men with at least a bachelor’s degree has also increased from a low point of $118,700 in 2014 after the Great Recession to $145,000 today.

The gap in household income between young men with and without a college degree grew significantly between 1980 and 2014. In 1980, the median household income of young men with at least a bachelor’s degree was about 38% more than that of high school graduates. By 2014, that gap had widened to 86%.

Over the past 10 years, the income gap has fluctuated. In 2023, the typical college graduate’s household income was 93% more than that of the typical high school graduate.

The 2001 recession and Great Recession resulted in a large increase in poverty among young men without a college degree.

• In 2000, among young men living independently of their parents, 8% of those with a high school education were in poverty. Poverty peaked for this group at 17% around 2011 and has since declined to 12% in 2023.
• Among young men with some college education, poverty peaked at 12% around 2014, up from 4% in 2000. Poverty has fallen for this group since 2014 and stands at 8% as of 2023.
• Young men with a four-year college degree also experienced a slight uptick in poverty during the 2001 recession and Great Recession. In 2014, 6% of young college graduates were in poverty, up from 4% in 2000. Poverty among college graduates stands at 5% in 2023.

Labor force trends for young women are very different than for young men. There are occupational and educational differences between young women and men, and their earnings have followed different patterns.

Unlike the long-running decline for noncollege young men, young women without a college degree saw their labor force participation increase steadily from 1970 to about 1990.

By 2000, about three-quarters of young women with a high school diploma and 79% of those with some college education were in the labor force.

Labor force participation has also trended upward for college-educated young women and has consistently been higher than for those with less education.

After rising for decades, labor force participation for young women without a college degree fell during the 2001 recession and the Great Recession. Their labor force participation has increased slightly since 2014.

As of 2023, 69% of young women with a high school education were in the labor force, as were 78% of young women with some college education. Today’s level of labor force participation for young women without a college degree is slightly lower than the level seen around 2000.

The decline in labor force participation for noncollege women partly reflects the declining labor force participation for mothers with children under 18 years of age . Other research has suggested that without federal paid parental and family leave benefits for parents, some women with less education may leave the labor force after having a baby.

In contrast, labor force participation for young women with a college degree has fully recovered from the recessions of the early 2000s. Today, 87% of college-educated young women are in the labor force, the highest estimate on record.

Young women without a college degree have steadily increased their work hours over the decades. The past 10 years in particular have seen a significant increase in the share of employed noncollege women working full time, full year (with the exception of 2021).

• In 2023, 69% of employed young women with a high school education worked full time, full year, up from 56% in 2014. This share is the highest it’s ever been.
• In 2023, 65% of employed women with some college worked full time, full year, up from 58% in 2014. This is among the highest levels ever.

The trend in the share working full time, full year has been similar for young women with college degrees. By 2023, 78% of these women worked full time, full year, the highest share it’s ever been.

Unlike young men, young women without a college education did not see their earnings fall between 1970 and 2000.

The 2001 recession and Great Recession also did not significantly impact the earnings of noncollege young women. In the past 10 years, their median earnings have trended upward.

• For young women with a high school diploma, median earnings reached $36,000 in 2023, up from $30,900 in 2014.
• For those with some college, median earnings rose to $40,000 in 2023 from $37,700 in 2014.

For young women with a college degree, median earnings rose steadily from the mid-1980s until the early 2000s. By 2003, they reached $62,100, but this declined to $55,200 by 2014. In the past 10 years, the median earnings of college-educated young women have risen, reaching $65,000 in 2023.

In the mid-1980s, the typical young woman with a college degree earned about 48% more than her counterpart with a high school diploma. The pay gap among women has widened since then, and by 2014, the typical college graduate earned 79% more than the typical high school graduate. The gap has changed little over the past 10 years.

Noncollege young women living independently from their parents have experienced large household income gains over the past 10 years, measured at the median.

• In 2023, young women with a high school diploma had a median household income of $61,600, up from $48,100 in 2014.
• The pattern is similar for young women with some college education. Their median income rose to $75,200 in 2023 from $64,600 in 2014.

The median household income for young women with a four-year college degree is significantly higher than it is for their counterparts without a degree. College-educated young women have made substantial gains in the past 10 years.

The income gap between young women with and without a college degree has widened over the decades. In 1980, the median household income of young women with a college degree was 50% higher than that of high school-educated women. By 2014, the income gap had grown to 139%. Today, the household income advantage of college-educated women stands at 121% ($136,000 vs. $61,600).

Poverty trends for young women mirror those for young men, although young women are overall more likely to be in poverty than young men. The past 10 years have resulted in a steep reduction in the share of noncollege women in poverty.

• Today, 21% of young women with a high school diploma are living in poverty. This is down from 31% in 2014.
• 15% of young women with some college education live in poverty, compared with 21% in 2014.
• Young women with a college degree are consistently far less likely than either group to be living in poverty (5% in 2023).

Along with young adults’ rising incomes over the past 10 years, there’s been a substantial increase in their wealth. This part of our analysis does not look at men and women separately due to limitations in sample size.

In 2022, households headed by a young high school graduate had a median net worth of $30,700, up from $12,700 in 2013. Those headed by a young adult with some college education had a median net worth of $52,900, up from $15,700 in 2013.

The typical wealth level of households headed by a young college graduate was $120,200 in 2022, up from $46,600 in 2013.

There has not been any significant narrowing of the wealth gap between young high school graduate and young college graduate households since 2013.

Wealth increased for Americans across age groups over this period due to several factors. Many were able to save money during the pandemic lockdowns. In addition, home values increased, and the stock market surged.

• Most of the analysis in this chapter is based on the Annual Social and Economic Supplement collected by the U.S. Census Bureau. Information on net worth is based on a Federal Reserve survey, which interviews fewer households. Due to this smaller sample size, the net worth of households headed by a young adult cannot be broken out by gender and education. ↩
• Bureau of Labor Statistics data indicates that the labor force participation rate for men ages 25 to 54 has been declining since 1953. ↩
• This analysis looks at the earnings of employed adults working full time, full year. This measure of earnings is not uncommon. For example, the National Center for Education Statistics publishes a series on the annual earnings of 25- to 34-year-olds working full time, full year. ↩
• Other studies using hourly wages rather than annual earnings find that the college wage premium has narrowed. For example, researchers at the San Francisco Federal Reserve report that the college wage gap peaked in the mid-2010s but declined by just 4 percentage points to about 75% in 2022. ↩

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McKinsey Global Private Markets Review 2024: Private markets in a slower era

At a glance, macroeconomic challenges continued.

McKinsey Global Private Markets Review 2024: Private markets: A slower era

If 2022 was a tale of two halves, with robust fundraising and deal activity in the first six months followed by a slowdown in the second half, then 2023 might be considered a tale of one whole. Macroeconomic headwinds persisted throughout the year, with rising financing costs, and an uncertain growth outlook taking a toll on private markets. Full-year fundraising continued to decline from 2021’s lofty peak, weighed down by the “denominator effect” that persisted in part due to a less active deal market. Managers largely held onto assets to avoid selling in a lower-multiple environment, fueling an activity-dampening cycle in which distribution-starved limited partners (LPs) reined in new commitments.

About the authors

This article is a summary of a larger report, available as a PDF, that is a collaborative effort by Fredrik Dahlqvist , Alastair Green , Paul Maia, Alexandra Nee , David Quigley , Aditya Sanghvi , Connor Mangan, John Spivey, Rahel Schneider, and Brian Vickery , representing views from McKinsey’s Private Equity & Principal Investors Practice.

Performance in most private asset classes remained below historical averages for a second consecutive year. Decade-long tailwinds from low and falling interest rates and consistently expanding multiples seem to be things of the past. As private market managers look to boost performance in this new era of investing, a deeper focus on revenue growth and margin expansion will be needed now more than ever.

Perspectives on a slower era in private markets

Global fundraising contracted.

Fundraising fell 22 percent across private market asset classes globally to just over $1 trillion, as of year-end reported data—the lowest total since 2017. Fundraising in North America, a rare bright spot in 2022, declined in line with global totals, while in Europe, fundraising proved most resilient, falling just 3 percent. In Asia, fundraising fell precipitously and now sits 72 percent below the region’s 2018 peak.

Despite difficult fundraising conditions, headwinds did not affect all strategies or managers equally. Private equity (PE) buyout strategies posted their best fundraising year ever, and larger managers and vehicles also fared well, continuing the prior year’s trend toward greater fundraising concentration.

The numerator effect persisted

Despite a marked recovery in the denominator—the 1,000 largest US retirement funds grew 7 percent in the year ending September 2023, after falling 14 percent the prior year, for example 1 “U.S. retirement plans recover half of 2022 losses amid no-show recession,” Pensions and Investments , February 12, 2024. —many LPs remain overexposed to private markets relative to their target allocations. LPs started 2023 overweight: according to analysis from CEM Benchmarking, average allocations across PE, infrastructure, and real estate were at or above target allocations as of the beginning of the year. And the numerator grew throughout the year, as a lack of exits and rebounding valuations drove net asset values (NAVs) higher. While not all LPs strictly follow asset allocation targets, our analysis in partnership with global private markets firm StepStone Group suggests that an overallocation of just one percentage point can reduce planned commitments by as much as 10 to 12 percent per year for five years or more.

Despite these headwinds, recent surveys indicate that LPs remain broadly committed to private markets. In fact, the majority plan to maintain or increase allocations over the medium to long term.

Investors fled to known names and larger funds

Fundraising concentration reached its highest level in over a decade, as investors continued to shift new commitments in favor of the largest fund managers. The 25 most successful fundraisers collected 41 percent of aggregate commitments to closed-end funds (with the top five managers accounting for nearly half that total). Closed-end fundraising totals may understate the extent of concentration in the industry overall, as the largest managers also tend to be more successful in raising non-institutional capital.

While the largest funds grew even larger—the largest vehicles on record were raised in buyout, real estate, infrastructure, and private debt in 2023—smaller and newer funds struggled. Fewer than 1,700 funds of less than $1 billion were closed during the year, half as many as closed in 2022 and the fewest of any year since 2012. New manager formation also fell to the lowest level since 2012, with just 651 new firms launched in 2023.

Whether recent fundraising concentration and a spate of M&A activity signals the beginning of oft-rumored consolidation in the private markets remains uncertain, as a similar pattern developed in each of the last two fundraising downturns before giving way to renewed entrepreneurialism among general partners (GPs) and commitment diversification among LPs. Compared with how things played out in the last two downturns, perhaps this movie really is different, or perhaps we’re watching a trilogy reusing a familiar plotline.

Dry powder inventory spiked (again)

Private markets assets under management totaled $13.1 trillion as of June 30, 2023, and have grown nearly 20 percent per annum since 2018. Dry powder reserves—the amount of capital committed but not yet deployed—increased to $3.7 trillion, marking the ninth consecutive year of growth. Dry powder inventory—the amount of capital available to GPs expressed as a multiple of annual deployment—increased for the second consecutive year in PE, as new commitments continued to outpace deal activity. Inventory sat at 1.6 years in 2023, up markedly from the 0.9 years recorded at the end of 2021 but still within the historical range. NAV grew as well, largely driven by the reluctance of managers to exit positions and crystallize returns in a depressed multiple environment.

Private equity strategies diverged

Buyout and venture capital, the two largest PE sub-asset classes, charted wildly different courses over the past 18 months. Buyout notched its highest fundraising year ever in 2023, and its performance improved, with funds posting a (still paltry) 5 percent net internal rate of return through September 30. And although buyout deal volumes declined by 19 percent, 2023 was still the third-most-active year on record. In contrast, venture capital (VC) fundraising declined by nearly 60 percent, equaling its lowest total since 2015, and deal volume fell by 36 percent to the lowest level since 2019. VC funds returned –3 percent through September, posting negative returns for seven consecutive quarters. VC was the fastest-growing—as well as the highest-performing—PE strategy by a significant margin from 2010 to 2022, but investors appear to be reevaluating their approach in the current environment.

Private equity entry multiples contracted

PE buyout entry multiples declined by roughly one turn from 11.9 to 11.0 times EBITDA, slightly outpacing the decline in public market multiples (down from 12.1 to 11.3 times EBITDA), through the first nine months of 2023. For nearly a decade leading up to 2022, managers consistently sold assets into a higher-multiple environment than that in which they had bought those assets, providing a substantial performance tailwind for the industry. Nowhere has this been truer than in technology. After experiencing more than eight turns of multiple expansion from 2009 to 2021 (the most of any sector), technology multiples have declined by nearly three turns in the past two years, 50 percent more than in any other sector. Overall, roughly two-thirds of the total return for buyout deals that were entered in 2010 or later and exited in 2021 or before can be attributed to market multiple expansion and leverage. Now, with falling multiples and higher financing costs, revenue growth and margin expansion are taking center stage for GPs.

Real estate receded

Demand uncertainty, slowing rent growth, and elevated financing costs drove cap rates higher and made price discovery challenging, all of which weighed on deal volume, fundraising, and investment performance. Global closed-end fundraising declined 34 percent year over year, and funds returned −4 percent in the first nine months of the year, losing money for the first time since the 2007–08 global financial crisis. Capital shifted away from core and core-plus strategies as investors sought liquidity via redemptions in open-end vehicles, from which net outflows reached their highest level in at least two decades. Opportunistic strategies benefited from this shift, with investors focusing on capital appreciation over income generation in a market where alternative sources of yield have grown more attractive. Rising interest rates widened bid–ask spreads and impaired deal volume across food groups, including in what were formerly hot sectors: multifamily and industrial.

Private debt pays dividends

Debt again proved to be the most resilient private asset class against a turbulent market backdrop. Fundraising declined just 13 percent, largely driven by lower commitments to direct lending strategies, for which a slower PE deal environment has made capital deployment challenging. The asset class also posted the highest returns among all private asset classes through September 30. Many private debt securities are tied to floating rates, which enhance returns in a rising-rate environment. Thus far, managers appear to have successfully navigated the rising incidence of default and distress exhibited across the broader leveraged-lending market. Although direct lending deal volume declined from 2022, private lenders financed an all-time high 59 percent of leveraged buyout transactions last year and are now expanding into additional strategies to drive the next era of growth.

Infrastructure took a detour

After several years of robust growth and strong performance, infrastructure and natural resources fundraising declined by 53 percent to the lowest total since 2013. Supply-side timing is partially to blame: five of the seven largest infrastructure managers closed a flagship vehicle in 2021 or 2022, and none of those five held a final close last year. As in real estate, investors shied away from core and core-plus investments in a higher-yield environment. Yet there are reasons to believe infrastructure’s growth will bounce back. Limited partners (LPs) surveyed by McKinsey remain bullish on their deployment to the asset class, and at least a dozen vehicles targeting more than $10 billion were actively fundraising as of the end of 2023. Multiple recent acquisitions of large infrastructure GPs by global multi-asset-class managers also indicate marketwide conviction in the asset class’s potential.

Private markets still have work to do on diversity

Private markets firms are slowly improving their representation of females (up two percentage points over the prior year) and ethnic and racial minorities (up one percentage point). On some diversity metrics, including entry-level representation of women, private markets now compare favorably with corporate America. Yet broad-based parity remains elusive and too slow in the making. Ethnic, racial, and gender imbalances are particularly stark across more influential investing roles and senior positions. In fact, McKinsey’s research  reveals that at the current pace, it would take several decades for private markets firms to reach gender parity at senior levels. Increasing representation across all levels will require managers to take fresh approaches to hiring, retention, and promotion.

Artificial intelligence generating excitement

The transformative potential of generative AI was perhaps 2023’s hottest topic (beyond Taylor Swift). Private markets players are excited about the potential for the technology to optimize their approach to thesis generation, deal sourcing, investment due diligence, and portfolio performance, among other areas. While the technology is still nascent and few GPs can boast scaled implementations, pilot programs are already in flight across the industry, particularly within portfolio companies. Adoption seems nearly certain to accelerate throughout 2024.

Private markets in a slower era

If private markets investors entered 2023 hoping for a return to the heady days of 2021, they likely left the year disappointed. Many of the headwinds that emerged in the latter half of 2022 persisted throughout the year, pressuring fundraising, dealmaking, and performance. Inflation moderated somewhat over the course of the year but remained stubbornly elevated by recent historical standards. Interest rates started high and rose higher, increasing the cost of financing. A reinvigorated public equity market recovered most of 2022’s losses but did little to resolve the valuation uncertainty private market investors have faced for the past 18 months.

Within private markets, the denominator effect remained in play, despite the public market recovery, as the numerator continued to expand. An activity-dampening cycle emerged: higher cost of capital and lower multiples limited the ability or willingness of general partners (GPs) to exit positions; fewer exits, coupled with continuing capital calls, pushed LP allocations higher, thereby limiting their ability or willingness to make new commitments. These conditions weighed on managers’ ability to fundraise. Based on data reported as of year-end 2023, private markets fundraising fell 22 percent from the prior year to just over $1 trillion, the largest such drop since 2009 (Exhibit 1).

The impact of the fundraising environment was not felt equally among GPs. Continuing a trend that emerged in 2022, and consistent with prior downturns in fundraising, LPs favored larger vehicles and the scaled GPs that typically manage them. Smaller and newer managers struggled, and the number of sub–$1 billion vehicles and new firm launches each declined to its lowest level in more than a decade.

Despite the decline in fundraising, private markets assets under management (AUM) continued to grow, increasing 12 percent to $13.1 trillion as of June 30, 2023. 2023 fundraising was still the sixth-highest annual haul on record, pushing dry powder higher, while the slowdown in deal making limited distributions.

Investment performance across private market asset classes fell short of historical averages. Private equity (PE) got back in the black but generated the lowest annual performance in the past 15 years, excluding 2022. Closed-end real estate produced negative returns for the first time since 2009, as capitalization (cap) rates expanded across sectors and rent growth dissipated in formerly hot sectors, including multifamily and industrial. The performance of infrastructure funds was less than half of its long-term average and even further below the double-digit returns generated in 2021 and 2022. Private debt was the standout performer (if there was one), outperforming all other private asset classes and illustrating the asset class’s countercyclical appeal.

Private equity down but not out

Higher financing costs, lower multiples, and an uncertain macroeconomic environment created a challenging backdrop for private equity managers in 2023. Fundraising declined for the second year in a row, falling 15 percent to $649 billion, as LPs grappled with the denominator effect and a slowdown in distributions. Managers were on the fundraising trail longer to raise this capital: funds that closed in 2023 were open for a record-high average of 20.1 months, notably longer than 18.7 months in 2022 and 14.1 months in 2018. VC and growth equity strategies led the decline, dropping to their lowest level of cumulative capital raised since 2015. Fundraising in Asia fell for the fourth year of the last five, with the greatest decline in China.

Despite the difficult fundraising context, a subset of strategies and managers prevailed. Buyout managers collectively had their best fundraising year on record, raising more than $400 billion. Fundraising in Europe surged by more than 50 percent, resulting in the region’s biggest haul ever. The largest managers raised an outsized share of the total for a second consecutive year, making 2023 the most concentrated fundraising year of the last decade (Exhibit 2).

Despite the drop in aggregate fundraising, PE assets under management increased 8 percent to $8.2 trillion. Only a small part of this growth was performance driven: PE funds produced a net IRR of just 2.5 percent through September 30, 2023. Buyouts and growth equity generated positive returns, while VC lost money. PE performance, dating back to the beginning of 2022, remains negative, highlighting the difficulty of generating attractive investment returns in a higher interest rate and lower multiple environment. As PE managers devise value creation strategies to improve performance, their focus includes ensuring operating efficiency and profitability of their portfolio companies.

Deal activity volume and count fell sharply, by 21 percent and 24 percent, respectively, which continued the slower pace set in the second half of 2022. Sponsors largely opted to hold assets longer rather than lock in underwhelming returns. While higher financing costs and valuation mismatches weighed on overall deal activity, certain types of M&A gained share. Add-on deals, for example, accounted for a record 46 percent of total buyout deal volume last year.

Real estate recedes

For real estate, 2023 was a year of transition, characterized by a litany of new and familiar challenges. Pandemic-driven demand issues continued, while elevated financing costs, expanding cap rates, and valuation uncertainty weighed on commercial real estate deal volumes, fundraising, and investment performance.

Managers faced one of the toughest fundraising environments in many years. Global closed-end fundraising declined 34 percent to $125 billion. While fundraising challenges were widespread, they were not ubiquitous across strategies. Dollars continued to shift to large, multi-asset class platforms, with the top five managers accounting for 37 percent of aggregate closed-end real estate fundraising. In April, the largest real estate fund ever raised closed on a record $30 billion.

Capital shifted away from core and core-plus strategies as investors sought liquidity through redemptions in open-end vehicles and reduced gross contributions to the lowest level since 2009. Opportunistic strategies benefited from this shift, as investors turned their attention toward capital appreciation over income generation in a market where alternative sources of yield have grown more attractive.

In the United States, for instance, open-end funds, as represented by the National Council of Real Estate Investment Fiduciaries Fund Index—Open-End Equity (NFI-OE), recorded $13 billion in net outflows in 2023, reversing the trend of positive net inflows throughout the 2010s. The negative flows mainly reflected $9 billion in core outflows, with core-plus funds accounting for the remaining outflows, which reversed a 20-year run of net inflows.

As a result, the NAV in US open-end funds fell roughly 16 percent year over year. Meanwhile, global assets under management in closed-end funds reached a new peak of $1.7 trillion as of June 2023, growing 14 percent between June 2022 and June 2023.

Real estate underperformed historical averages in 2023, as previously high-performing multifamily and industrial sectors joined office in producing negative returns caused by slowing demand growth and cap rate expansion. Closed-end funds generated a pooled net IRR of −3.5 percent in the first nine months of 2023, losing money for the first time since the global financial crisis. The lone bright spot among major sectors was hospitality, which—thanks to a rush of postpandemic travel—returned 10.3 percent in 2023. 2 Based on NCREIFs NPI index. Hotels represent 1 percent of total properties in the index. As a whole, the average pooled lifetime net IRRs for closed-end real estate funds from 2011–20 vintages remained around historical levels (9.8 percent).

Global deal volume declined 47 percent in 2023 to reach a ten-year low of $650 billion, driven by widening bid–ask spreads amid valuation uncertainty and higher costs of financing (Exhibit 3). 3 CBRE, Real Capital Analytics Deal flow in the office sector remained depressed, partly as a result of continued uncertainty in the demand for space in a hybrid working world.

During a turbulent year for private markets, private debt was a relative bright spot, topping private markets asset classes in terms of fundraising growth, AUM growth, and performance.

Fundraising for private debt declined just 13 percent year over year, nearly ten percentage points less than the private markets overall. Despite the decline in fundraising, AUM surged 27 percent to $1.7 trillion. And private debt posted the highest investment returns of any private asset class through the first three quarters of 2023.

Private debt’s risk/return characteristics are well suited to the current environment. With interest rates at their highest in more than a decade, current yields in the asset class have grown more attractive on both an absolute and relative basis, particularly if higher rates sustain and put downward pressure on equity returns (Exhibit 4). The built-in security derived from debt’s privileged position in the capital structure, moreover, appeals to investors that are wary of market volatility and valuation uncertainty.

Direct lending continued to be the largest strategy in 2023, with fundraising for the mostly-senior-debt strategy accounting for almost half of the asset class’s total haul (despite declining from the previous year). Separately, mezzanine debt fundraising hit a new high, thanks to the closings of three of the largest funds ever raised in the strategy.

Over the longer term, growth in private debt has largely been driven by institutional investors rotating out of traditional fixed income in favor of private alternatives. Despite this growth in commitments, LPs remain underweight in this asset class relative to their targets. In fact, the allocation gap has only grown wider in recent years, a sharp contrast to other private asset classes, for which LPs’ current allocations exceed their targets on average. According to data from CEM Benchmarking, the private debt allocation gap now stands at 1.4 percent, which means that, in aggregate, investors must commit hundreds of billions in net new capital to the asset class just to reach current targets.

Private debt was not completely immune to the macroeconomic conditions last year, however. Fundraising declined for the second consecutive year and now sits 23 percent below 2021’s peak. Furthermore, though private lenders took share in 2023 from other capital sources, overall deal volumes also declined for the second year in a row. The drop was largely driven by a less active PE deal environment: private debt is predominantly used to finance PE-backed companies, though managers are increasingly diversifying their origination capabilities to include a broad new range of companies and asset types.

Infrastructure and natural resources take a detour

For infrastructure and natural resources fundraising, 2023 was an exceptionally challenging year. Aggregate capital raised declined 53 percent year over year to $82 billion, the lowest annual total since 2013. The size of the drop is particularly surprising in light of infrastructure’s recent momentum. The asset class had set fundraising records in four of the previous five years, and infrastructure is often considered an attractive investment in uncertain markets.

While there is little doubt that the broader fundraising headwinds discussed elsewhere in this report affected infrastructure and natural resources fundraising last year, dynamics specific to the asset class were at play as well. One issue was supply-side timing: nine of the ten largest infrastructure GPs did not close a flagship fund in 2023. Second was the migration of investor dollars away from core and core-plus investments, which have historically accounted for the bulk of infrastructure fundraising, in a higher rate environment.

The asset class had some notable bright spots last year. Fundraising for higher-returning opportunistic strategies more than doubled the prior year’s total (Exhibit 5). AUM grew 18 percent, reaching a new high of $1.5 trillion. Infrastructure funds returned a net IRR of 3.4 percent in 2023; this was below historical averages but still the second-best return among private asset classes. And as was the case in other asset classes, investors concentrated commitments in larger funds and managers in 2023, including in the largest infrastructure fund ever raised.

The outlook for the asset class, moreover, remains positive. Funds targeting a record amount of capital were in the market at year-end, providing a robust foundation for fundraising in 2024 and 2025. A recent spate of infrastructure GP acquisitions signal multi-asset managers’ long-term conviction in the asset class, despite short-term headwinds. Global megatrends like decarbonization and digitization, as well as revolutions in energy and mobility, have spurred new infrastructure investment opportunities around the world, particularly for value-oriented investors that are willing to take on more risk.

Private markets make measured progress in DEI

Diversity, equity, and inclusion (DEI) has become an important part of the fundraising, talent, and investing landscape for private market participants. Encouragingly, incremental progress has been made in recent years, including more diverse talent being brought to entry-level positions, investing roles, and investment committees. The scope of DEI metrics provided to institutional investors during fundraising has also increased in recent years: more than half of PE firms now provide data across investing teams, portfolio company boards, and portfolio company management (versus investment team data only). 4 “ The state of diversity in global private markets: 2023 ,” McKinsey, August 22, 2023.

In 2023, McKinsey surveyed 66 global private markets firms that collectively employ more than 60,000 people for the second annual State of diversity in global private markets report. 5 “ The state of diversity in global private markets: 2023 ,” McKinsey, August 22, 2023. The research offers insight into the representation of women and ethnic and racial minorities in private investing as of year-end 2022. In this chapter, we discuss where the numbers stand and how firms can bring a more diverse set of perspectives to the table.

The statistics indicate signs of modest advancement. Overall representation of women in private markets increased two percentage points to 35 percent, and ethnic and racial minorities increased one percentage point to 30 percent (Exhibit 6). Entry-level positions have nearly reached gender parity, with female representation at 48 percent. The share of women holding C-suite roles globally increased 3 percentage points, while the share of people from ethnic and racial minorities in investment committees increased 9 percentage points. There is growing evidence that external hiring is gradually helping close the diversity gap, especially at senior levels. For example, 33 percent of external hires at the managing director level were ethnic or racial minorities, higher than their existing representation level (19 percent).

Yet, the scope of the challenge remains substantial. Women and minorities continue to be underrepresented in senior positions and investing roles. They also experience uneven rates of progress due to lower promotion and higher attrition rates, particularly at smaller firms. Firms are also navigating an increasingly polarized workplace today, with additional scrutiny and a growing number of lawsuits against corporate diversity and inclusion programs, particularly in the US, which threatens to impact the industry’s pace of progress.

Fredrik Dahlqvist is a senior partner in McKinsey’s Stockholm office; Alastair Green  is a senior partner in the Washington, DC, office, where Paul Maia and Alexandra Nee  are partners; David Quigley  is a senior partner in the New York office, where Connor Mangan is an associate partner and Aditya Sanghvi  is a senior partner; Rahel Schneider is an associate partner in the Bay Area office; John Spivey is a partner in the Charlotte office; and Brian Vickery  is a partner in the Boston office.

The authors wish to thank Jonathan Christy, Louis Dufau, Vaibhav Gujral, Graham Healy-Day, Laura Johnson, Ryan Luby, Tripp Norton, Alastair Rami, Henri Torbey, and Alex Wolkomir for their contributions

The authors would also like to thank CEM Benchmarking and the StepStone Group for their partnership in this year's report.

This article was edited by Arshiya Khullar, an editor in the Gurugram office.

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The Digital Variome: Understanding the Implications of Digital Tools on Health

CERSI Collaborators: University of California at San Francisco (UCSF): Andrew Auerbach MD MPH (UCSF, Variome and DOVeS); Benjamin Rosner MD PhD (UCSF, Variome and DOVeS co-PI); Stanford Univerisity (Stanford): Matthew Horridge PhD (Stanford, DOVeS)

FDA Collaborators: Center for Devices and Radiological Health(CDRH): Bakul Patel, MS, MBA (Formerly of CDRH); Vinay Pai, PhD; Catherine Bahr; Leeda Rashid, MD, MPH, ABFM; Arti Tandon, PhD; Charlie Yongpravat, PhD; Anindita Saha, PhD

CERSI Subcontractors: Flying Buttress Associates- Jeph Herrin, PhD

CERSI In-Kind Collaborators: Stanford Univerisity (Stanford): Mark Musen, PhD (Stanford, DOVeS)

Non-Federal Entity Collaborators: Johnson and Johnson- Karla Childers, MSJ, Paul Coplan, ScD, MBA, Stephen Johnston, MSc

Project Start Date: October 12, 2021 Project End Date: February 28, 2022-->

Regulatory Science Framework

Charge I “Modernize development and evaluation of FDA-regulated project” and Focus Area “C. Analytical and computational Methods.”

Regulatory Science Challenge

There is a consistent need to research and develop the methods used to ensure the quality and safety of FDA-regulated products. Research and development in this area helps FDA employ scientifically valid approaches for combining patient input and data from multiple sources. These 'real world' data insights are key to informing regulatory decision-making both for traditionally regulated products (e.g. drugs and devices) as well as for new and emerging products such as digital health tools. Furthermore, as the FDA considers new products for regulatory approval, they may examine whether these new products are “substantially equivalent” to previously approved products. The wave of new digital health products creates regulatory decision challenges that need to be informed by real world data and data that help identify the degree to which products may be similar.

Project Description and Goals

The Digital Variome project extends work that is ongoing as part of our overarching CERSI project Developing Frameworks and Tools for Integration of Digital Health Tools into Clinical Practice , a national network of leading academic medical centers, researchers, and innovators working to identify how real world measures and data can be used across types of software used in health, and the eventual data sources required to carry out real world performance measurement and post-market surveillance of digital health tools (DHTs). ADviCE identified several challenges to DHT adoption: (1) Variable definitions of which DHTs are relevant to clinical care delivery; (2) Lack of consistent, common terms to describe DHTs during selection, (3) Wide variability in how health systems integrate DHTs into practice and, (4) Lack of a framework and tools to evaluate DHTs’ real-world performance through post-market surveillance.

The ADviCE project in turn framed the goals of the Variome proposal, which focused on identifying data sources and potential partnerships needed to create a learning health collaboration that might leverage tools such as NEST or resources (e.g., PCORnet, or payor data) to provide data needed to carry out post-market surveillance of DHTs. Few of these data networks or partnerships could gather information needed for DHT post-market surveillance, so investigators turned their attention to tools which would both facilitate efficient specification of DHT characteristics while also being flexibly able to accommodate measures that might vary between DHTs even though applicable to similar patients or health systems.

With this realization, the research team extended their Priority Measurement framework and expanded it to represent a range of potential metrics applicable to real world performance. Investigators built on their consensus work from Developing Frameworks and Tools for Integration of Digital Health Tools into Clinical Practice to identify specific domains and measures relevant to each broad domain. For example, within the area of Product Performance  Cybersecurity, investigators developed subdomains where metric identification was recognized as a key next step. Not surprisingly, a wide range of potential measures were identified. For example, each of the Measure Concepts for Real World Health might have dozens or even hundreds of patient- or population-specific metrics that are supported by evidence, are broadly used, or both.

This realization led to development of the Digital medicine Outcomes Value Set (DOVeS), as a powerful and flexible approach to classifying digital health tools according to key features and important clinical outcomes identified by our work to this point.

DOVeS was blueprinted using Protégé software using input from research collaborators and professional ontologists so that it permits flexible expansion as outcomes or population definitions change and technology advances. DOVeS was then tested and validated against real DHT and company characteristics to yield a working prototype that facilitates search and display of data using the overall ADviCE/Variome approach. DOVeS has been published on BioPortal and is publicly available for broad use.

DOVeS has the potential to be scaled up to include a broader and more representative sample of real-world digital health tools, accommodate new technologies (e.g. large language lodels (LLMs)), while also being tested for usability and feasibility as a practical framework for use by health systems, vendors, and regulators use.

Research Outcomes/Results

There are several outcomes to date associated with the development of the Variome project and DOVeS Ontology. The first is that the DOVeS ontology has been expanded substantially over the course of this support, informed by real world digital health outcomes gleaned from industry and academic experts. The second is that DOVeS has been made publicly available on the BioPortal website so that a community of digital health experts may continue to contribute to it over time. The third is that a prototype user interface overlying DOVeS has been created (only a non-functional wireframe was originally proposed) leading to functional demonstrations that show the power and value of DOVeS in identifying tools based on common outcomes. Fourth, several public presentations of DOVeS have been made. Finally, a peer reviewed publication on the development of DOVeS is forthcoming and will help disseminate awareness of the ontology and its value. In the future, investigators hope to convert the prototype front end user interface into a robust platform capable of supporting regulatory insights as well as health system leader inquiries and decisions about digital health tools.

Research Impacts

This project enhances foundational requirements for regulatory science research by providing the FDA and other stakeholders with a new way to categorize and identify digital health tools based on outcomes they influence. This is particularly valuable to enable more appropriate apples-to-apples comparison of digital health tools that influence similar outcomes which could be valuable for "substantial equivalence" assessment as well as both superiority and non-inferiority considerations. The ontology is also particularly valuable for ongoing post-market surveillance.

Publications

No peer-reviewed publications to date; Investigators plan to analyze and publish follow-up study results.

Dr. Auerbach has published invited editorials in JAMA IM on digital health regulation based in part on his experiences with ADviCE.

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