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Continuing our post from yesterday, we look in further detail at current issues in Indian market research. This concluding part examines the role of technology as well as what the future holds for the industry in the country:

TechTalk

Ironically, India is a software powerhouse - but Indian MR has yet to catch up on the technological front. MR firms still use basic software tools, and that too is only on a need-to basis.

India is still face-to-face dependent, but that is changing gradually. CATI is prevalent but online is still a nascent area as internet penetration is low. Panel firms are already entering India in a big way, setting the stage for the e-wave to sweep across in due course.

The needs of market research agencies are still evolving in terms of newer applications; there seems to be no significant difference in the use of technology in the past and the present; evolution in technology is seen more in terms of version upgrades, automation and processing speed. The bulk of small and medium sized MR firms are still tied to the traditional tech tools and are yet to experiment with new modes, though a few have dabbled with the online platform. The big players on the other hand are moving forward with handheld terminals and mobile surveys.

The trend in technology in client organisations seem to have undergone a sea change; they are looking at shorter innovation cycles, real-time service of queries, transparent status reading systems, end-to-end interaction with consumers using enhanced technology; and technology is expected to take them a step ahead - from analysis to modelling.

Boom Boom: The way ahead

Client organisations are more receptive to applying DW & BI and Data Mining. These services will soon be embraced by the research organisations, leveraging on the availability of a good education pool. Just as product companies go through the evolution lifecycle, the research service industry also needs to upgrade and come up with newer client servicing options - like branded MR agencies setting up in-house research divisions for larger corporations (this will ensure data security, real time data available at every stage).

The future of Indian research from a market opportunity point of view is very bright simply given the growth in economy and the increasing need for consumer insights for sound decision-making. This includes Multinational corporations and the new Indian ventures on the retail, realty and hospitality front. What will determine success or failure is how the agencies can transition themselves and put in structures and technology in place to tap the opportunity.

Globalisation will continue to drive the research standardisation wave and the time to get involved with Indian research is… NOW.

This article originally appeared in the Oct/Nov issue of BIG times

Further details about conducting market research in markets like India can be found at the website of our Asian office, at www.b2binternational.com.cn.

from b2bsee * The Market Research Blog

As Asia’s third-largest economy and with consistent annual growth of around 9-10% expected for the near future, India is undeniably an emerging force on the world business stage.

As both local and international companies look to reap the rewards of this burgeoning market, effective research will become an ever-more crucial tool for organisations looking to expand in India.

In the first of a two-part post, we look in more detail at the challenges of conducting market research in India, as well as the operational and technological developments that can be expected in the industry there in the years to come:

With all the movement and action, Indian research has well and truly arrived on the global scene..

The potential is tremendous and there is a major growth and standardisation wave. India now figures more and more in the global research radar. Well, one billion makes a difference, doesn’t it!

There is a growing client-side demand for research and the trust-level of Indian researchers is increasing. The current business model is of low-cost, high-volume but this is changing with the advent of MRO (Market Research Outsourcing) and KPO (Knowledge Process Outsourcing). The research environment is growing as research needs grow - those new to commissioning research realise that “Some information is better than nothing”. As per the ESOMAR report, India is among the lowest in the world in terms of low prices charged to clients. This of course, is due to change in the next five years.

Internationalisation of MR: Rise of the foreign-Indian researcher

The Indian economy is booming, growth is prevalent and this has brought in an “Internationalisation” of research. Is there a truly Indian research company now? With ongoing Mergers and Acquisitions (Nielsen –> Org-Marg; Kantar –> IMRB; TNS –> NFO –> MBL) and the establishment of offshore partner/captive centres, there is a lot of consolidation, which brings in certain advantages.

Virtual captive centres and offshore partnerships drive the low- and high-end of research in India: from coding and data entry, through to Data Analytics and Business Intelligence. This has contributed to the standardisation wave when companies can now work on a common platform with set processes.

There is a definite organisation structure evolving - professionalizing Indian MR. Gone are the days when a researcher was an all-rounder doing everything from thinking, execution, client management and commercials. The focus is on specific divisions for specific research, leading to in-depth knowledge (walk the talk).

This article originally appeared in the Oct/Nov issue of BIG times

If you would like to know more about conducting research in emerging markets such as India or China, please contact our dedicated Asian office – Further details of which can be found at www.b2binternational.com.cn

from b2bsee * The Market Research Blog