India Market Research gives an idea of the business and the consumer market accelerating the way to development and profit maximization for the country. An extensive Market Research in India caters all the queries of the marketers,providing them with the required informations for a smooth journey through the phases of the process of marketing. For all categories of marketing – associated with valuation, distribution or promotion of product and services, market research is the introductory point to begin.
Of the specialist market research and consulting firms giving excellent reports, helping the Indian and international companies as well as the multi-lateral agencies, the IMRB International is the ground breaker in Indian Market Research. Some other specialized firms of excellent performance are:
The main areas covered by these market research firms are the fields of B2B and industrial research, social research, media research, brand research, corporate and employee research, channel and retail research, product and packaging research, pricing research and business-specialized consumer research. Their focus is on -
- understanding consumers – tracking customer's trends and perceptions, refashioning their needs.
- investigating market – mapping market conditions, estimating demands.
- conceptualizing product development - refining product or service, creating positioning strategy, naming, forming visual identity.
From the market research reports on the last financial year 2005-2006 furnished by the research institutions:
- GDP growth rate (percent)- 7
- Agriculture (% of GDP) - 24.7
- Industry (% of GDP) - 27
- Services, etc., (% of GDP)- 50
- Inflation rate stands at 4.1 per cent at the end of March 2006
- Population: 1.1 billion (Urban population - 28.4 percent)
- Growing Middle-class: 300 million and estimated to be growing at 5 percent annually
- Growth of Malls: 375 shopping malls by 2007 from 25 in 2003
- The Bombay Stock Exchange lists 5,000 companies
The market research reduces the risk of investment and helps to lean on the target market. Market analysis and research is thus the most important instrument for undertaking any marketing procedure. To suggest lastly, a successful market research will depend on well informed business partners, good planning and regular follow-up, patience and commitment.
To get a detailed information on the India Market Research these are the suitable links.
