The authors feel that the 1992 Single European Act is likely to bring about the most fundamental changes in European business ever seen. The paper examines awareness, attitudes and action being taken or intended to be taken by market research Institutes and clients in preparing for the event. Is it seen as a "Big Bang" or a "Damp Squib"? How much of an opportunity is it or is it a threat? These and a number of other issues are examined from several points of view and using a number of sources.