XBIZ Research Director Sarah LoPrinzi conducted an hour-long multimedia presentation that offered an overview of the new program which seeks to establish verifiably factual metrics for the adult entertainment industry — no small task given the industry's privately held and often publicity-shy nature.
"Market research is a systematic way of looking at your business," LoPrinzi said, before introducing attendees to the value of quantitative, qualitative and competitive analysis and how market inhibitors such as increased competition and evolving legislation are impacting the industry.
"Market research can help the adult entertainment industry continue and repeat successes and identify new business opportunities even during challenging economic times," LoPrinzi told XBIZ.
LoPrinzi discussed how all statistics are not created equal and how many are not backed up by independently verifiable data — an issue that the new program seeks to address.
"The goal of XBIZ Research is to always provide provable information," LoPrinzi said.
LoPrinzi also discussed different factors that influence survey results; such as the methods by which 'technophiles' and 'technophobes' can both skew results; as well as how randomized and targeted sample populations can similarly affect results.
When asked why companies should consider market research, LoPrinzi offered that "it's all about knowing and understanding your customers."
"You conduct market research to make more money and waste less money," LoPrinzi said. "There is always an opportunity on the flip-side of other people's mistakes."
"We feel that XBIZ is in a unique position to conduct a dependable study program because of its unbiased position within the adult entertainment industry," XBIZ President Alec Helmy said. "XBIZ Research is a unique project that aims to deliver invaluable insight through the adult business community’s participation. We look forward to delivering fascinating analysis and facilitating great discussions."
Visit XBIZ Research for more information about adult entertainment market research.
