Market research is an Integral part of expanding into a market. Market research could be categories in two ways:
- To expand into a new market
- To understand how to make it best in a market and plug any gaps that may not be known
Objective to get into Research:
With the presence of so many research companies in India and the world over one of the key questions that would come to a Patron’s mind while reading up on us is – why would we want to offer services in the already crowded market research field.
Market research is primarily data drives, some questionnaires, some personal meetings, quick client briefs and then some results which may or maynot be useful to the end client – as data collection, briefing, preparation of questionnaires is all done by different teams and cohesion in big organisations is rarely possible.
While offering the market entry services and having worked with esteemed organisations of repute we found a large gap in the quality of commitment and final usefulness of the market research and hence our research arm was born:
We are a boutique organisation offer the following crystal clear benefits:
1. Our biggest advantage is we are small and therefore more hands on a careful. We offer to conduct research which is meaningful and brings direct bearing on the results you need.
2. Our research and analysis team stays directly in control of data and all other procedures throughout the procedure.
3. Our analysis team at all times is in touch with the client for any changes or clarifications.
4. We make sure the data makes sense according to the needs and the outcome required – this is a major difference in our approach – most research companies will give you the data and analysis but not the connection between the data and how to make it real for your required solution.
5. We have ties ups in cities across India
6. We offer sampling excersize as well and collection on results – over 20 cities in India.
Case Study – 1
A Client Company wanted to offer products to the Indian market in the cosmetics segment. The name of the company sounded very different from the names usually associated with cosmetics companies in India. So we decided to conduct a research on the appropriateness of the name for the company’s success.
Methodology: Focus Group study – 30 across India.
Findings: The name sounded like a Middle Eastern name and many people would then draw a conclusion that – the product would be excellent but it may contain substances which will be against the Hindu beliefs of Indian women.
Therefore, they may still choose not to buy.
Solution: Add a punchline to the name which clearly gives a description of where the products are from and therefore correct the imbalance created by the perception of the sound of the name.
So, here it is. We got the solution without changing the real name – which would have cost millions of dollars across the globe.
That is the power of market research especially when we do it for you.