Sugging

Last updated

Sugging is a market research industry term, meaning "selling under the guise of research". This behavior occurs when a product marketer falsely pretends to be a market researcher conducting a survey, when in reality they are simply trying to sell the product in question.

Market research is an organized effort to gather information about target markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.

False flag covert operation designed to deceive

A false flag is a covert operation designed to deceive; the deception creates the appearance of a particular party, group, or nation being responsible for some activity, disguising the actual source of responsibility.

Sales act of selling a product or service in return for money or other compensation

Sales are activities related to selling or the number of goods or services sold in a given time period.

Generally considered unethical, this tactic is prohibited or strongly disapproved of by trade groups, such as the UK Market Research Society MRS, CASRO and MRA, for their member research companies.

Market Research Society

The Market Research Society is a professional body for market research based in London. It was established in 1946 at the offices of the London Press Exchange. It represents the views of its members to government and in the press.

The Marketing Research Association (MRA) was a 501(c)(6) non-profit, membership trade association, incorporated in New York state. Members were companies that specialized in, or had departments that specialized in, market research, consumer opinion and related marketing intelligence. Individuals who were marketing research practitioners could also become members.

See also

Related Research Articles

U.S. Securities and Exchange Commission government agency

The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. The SEC holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations, including the electronic securities markets in the United States.

Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors; an IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. Initial public offerings can be used: to raise new equity capital for the company concerned; to monetize the investments of private shareholders such as company founders or private equity investors; and to enable easy trading of existing holdings or future capital raising by becoming publicly traded enterprises.

Price fixing agreement over prices between participants on the same side in a market

Price fixing is an agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand.

An investment bank is a financial services company or corporate division that engages in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, and FICC services. Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry it is broken up into the Bulge Bracket, Middle Market, and boutique market.

Citigroup American multinational investment bank and financial services corporation

Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries.

Financial regulation

Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system. This may be handled by either a government or non-government organization. Financial regulation has also influenced the structure of banking sectors by increasing the variety of financial products available. Financial regulation forms one of three legal categories which constitutes the content of financial law, the other two being market practices, case law.

A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association participates in public relations activities such as advertising, education, political donations, lobbying and publishing, but its focus is collaboration between companies. Associations may offer other services, such as producing conferences, networking or charitable events or offering classes or educational materials. Many associations are non-profit organizations governed by bylaws and directed by officers who are also members.

Securities Exchange Act of 1934

The Securities Exchange Act of 1934 is a law governing the secondary trading of securities in the United States of America. A landmark of wide-ranging legislation, the Act of '34 and related statutes form the basis of regulation of the financial markets and their participants in the United States. The 1934 Act also established the Securities and Exchange Commission (SEC), the agency primarily responsible for enforcement of United States federal securities law.

Herbalife Nutrition is a global multi-level marketing corporation that develops, markets, and sells dietary supplements, weight management, sports nutrition, and personal-care products. The company was founded by Mark Hughes in 1980, and it employs an estimated 8,000 people worldwide. The business is incorporated in the Cayman Islands, with its corporate headquarters located Los Angeles, California. The company operates in 94 countries through a network of approximately 3.2 million independent distributors.

Nielsen Holdings American information, data and measurement company

Nielsen Holdings Inc. is an American information, data and measurement company with headquarters in New York City, USA. Nielsen operates in over 100 countries and employs approximately 44,000 people worldwide. Total revenues were $6.2 billion in 2016.

Chiron Corporation American multinational biotechnology firm

Chiron Corporation was an American multinational biotechnology firm based in Emeryville, California that was acquired by Novartis International AG on April 20, 2006. It had offices and facilities in eighteen countries on five continents. Chiron's business and research was in three main areas: biopharmaceuticals, vaccines, and blood testing. Chiron's vaccines and blood testing units were combined to form Novartis Vaccines and Diagnostics, while Chiron BioPharmaceuticals was integrated into Novartis Pharmaceuticals. In 2014, Novartis completed the sale of its blood transfusion diagnostics unit to Grifols, S.A. and announced agreements for the sale of its vaccines unit to GSK Vaccines.

I Cant Believe Its Not Butter!

I Can't Believe It's Not Butter! is a spread brand produced by Upfield. As its name implies, it is marketed as a substitute to butter.

Opinion Research Corporation is a demographic, health, and market research company based in Princeton, New Jersey. It was founded in 1938 by Claude Robinson and George Gallup, although Gallup left the firm in 1939. Opinion Research Corp was acquired by InfoUSA on August 4, 2006 for $12 per share in cash. The company announced its return to independent status through a partnership and majority investment from Lake Capital effective 1 July 2011.

The NPD Group market-research company

The NPD Group, Inc. is an American market research company founded on September 28, 1966 and based in Port Washington, New York. In 2017, NPD ranked as the 8th largest market research company in the world, according to the independent AMA Gold Report Top 50 report. The NPD Group operates in 20 countries, across more than 20 industries.

Nu Skin Enterprises American company that develops and distributes personal care products and nutritional supplements

Nu Skin Enterprises is an American multilevel marketing company that develops and sells personal care products and dietary supplements under its Nu Skin and Pharmanex brands. Nu Skin was founded in 1984 in Provo, Utah. The company originated in the United States and began its first foreign operation in Canada in 1990. One year later, the company began operations in Asia with the opening of Hong Kong. In 1996 the company listed on the New York Stock Exchange. The company markets its products in 54 markets through a network of approximately 1.2 million independent distributors.

In January, 2017, CASRO merged with the Marketing Research Association (MRA) to form the Insights Association.

In market research, frugging is "fund-raising under the guise of research". This behavior occurs when a product marketer falsely purports to be a market researcher conducting a statistical survey, when in reality the "researcher" is attempting to solicit a donation.

Neodymium magnet toys

Neodymium magnets, usually small spheres, have been manufactured as educational toys, stress relief products, and an artistic medium.

RNB Research

RNB Research is a global market research company, headquartered in New Delhi, India. RNB Research operates through its own offices in 15 cities across 10 countries - China, Egypt, GCC, India, Kenya, Philippines, Russia, South Africa, Thailand & Vietnam.

References

<i>The New York Times</i> Daily broadsheet newspaper based in New York City

The New York Times is an American newspaper based in New York City with worldwide influence and readership. Founded in 1851, the paper has won 125 Pulitzer Prizes, more than any other newspaper. The Times is ranked 17th in the world by circulation and 2nd in the U.S.

Federal Trade Commission Government agency

The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act. Its principal mission is the promotion of consumer protection and the elimination and prevention of anticompetitive business practices, such as coercive monopoly. It is headquartered in the Federal Trade Commission Building in Washington, D.C.