Bridging academia and industry: Insights from Professor Steven Kraus

Brands, consumers, and researchers alike are navigating an ever-evolving landscape. In the latest episode of Now That’s Significant, guest host John Bird, EVP at Infotools, sat down with Professor Steven Kraus from the University of San Francisco to explore the intersection of academia, market research, and real-world applications. Kraus, an expert in marketing, generational trends, and affluent consumers, shared a wealth of insights based on his unconventional career and decades of experience. 

The power of collaboration between academia and industry

One of the key takeaways from the conversation was Kraus’ emphasis on the untapped potential of partnerships between market research professionals and academia. He explained, “There are a lot of opportunities for collaboration… whether you’re on the supplier or client side. These partnerships bring fresh thought leadership, new ideas, and even talent through student projects.”

Kraus, who transitioned into academia after a rich career in market research, now leads the University of San Francisco’s Master of Science in Marketing Intelligence (MSMI) program. Through this initiative, his students engage in hands-on, practical research projects with real-world companies, bridging theoretical learning with actionable insights.

Challenges in market research today

Reflecting on his career, Kraus identified several challenges facing the market research industry:

1. Survey quality: He highlighted ongoing issues with data reliability and participant fraud, noting, “Even with rigorous safeguards, we still see participants completing 15-minute surveys in two minutes. There’s a lot of work to be done.”
2. The rise of AI: While AI has the potential to revolutionize data collection and analysis, Kraus emphasized the importance of maintaining a human touch. “AI can analyze themes or generate drafts, but the creative leap—connecting the dots and uncovering big insights—remains a human strength.”
3. Generational engagement: Kraus shared insights on understanding Gen Z and Millennials, explaining how their preferences and values differ. “For example, Millennials resonate with Disney’s legacy, while Gen Z sees it as too corporate or ‘woke.’ These distinctions matter for brands trying to connect with younger audiences.”

Engaging the next generation of researchers

As a professor, Kraus is passionate about preparing the next wave of market researchers. The MSMI program emphasizes both qualitative and quantitative methods, experimental design, and practical applications. He described the program’s practicum as a transformative experience, where students tackle real business challenges from companies like Amazon, Apple, and Gap. “It’s rewarding to see our students thrive—these projects can change the trajectory of their careers and lives.”

When asked about the traits that define successful market researchers, Kraus pointed to one above all: curiosity. “This field is about human behavior and what makes people tick. If you’re not intellectually curious, it’s hard to succeed.”

Looking ahead: The future of market research

Kraus remains optimistic about the long-term future of the industry, even as AI reshapes the landscape. He sees opportunity in combining AI’s efficiency with human creativity. “Companies feel like they’re drowning in data but starving for insights. That’s where human ingenuity comes in—connecting dots in ways machines can’t.”

Kraus also noted the emergence of “synthetic respondents” and the ethical implications of AI-driven data collection. While advancements offer potential cost savings, he cautioned against losing sight of quality and authenticity in research.

Key takeaways for market researchers

For those navigating the complexities of modern market research, Kraus offered this advice:

• Embrace collaboration: Partner with academia for fresh perspectives and innovative solutions.
• Leverage AI responsibly: Use AI as a tool to enhance, not replace, human insight.
• Stay curious: Foster intellectual curiosity to uncover meaningful connections in data.
• Think big: Encourage creativity and bold thinking to address complex business challenges.

Professor Kraus’ journey—from social psychology to syndicated research to academia—illustrates the dynamic nature of market research and its potential to shape industries and careers. As he aptly summarized, “At the end of the day, it’s about connecting the dots and delivering insights that truly matter.”

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