India Market Research

What is India Market Research?

India Market Research provides an idea of the business and the consumer market pattern. They pave the way to economic and business development and help to generate profit for the country. An extensive Market Research in India takes care of all the queries of the marketers - giving them the required information for a smooth marketing journey. Market research involves giving insight to all the categories of marketing - valuation, distribution, promotion of product and services. For betterment and improvement, market research is absolutely essential.

There are loads of Market Research agencies and consulting firms that gives excellent report, provides a helping hand to the Indian and international companies. Out of the lot, IMRB International is the ground breaker in Indian Market Research. Others following the lead are -

• Delphi Research services
• ORG-MARG
• MRUC
• NFO
• Nielson India

The market research agencies pan India; cover all the main areas of marketing - spanning 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.

Focus of the India market research agencies are -

• Understanding consumers - The trends of the customers are tracked by the market research agencies. Their needs, perceptions, projected demands are all studied and marketing strategies are formed accordingly.
• Investigating market - This method helps in mapping the market conditions and demands are estimated.
• Conceptualizing product development - Positioning strategies, product and service strategies are formed accordingly after taking into consideration the marketing research results.

India Market research reports give an insight of the actual status of the economy as well as the projected growth figures for the economy.

• Gross Domestic Product slipped from an average of over 9% in the previous three fiscal years to 6.7% during 2008-09
• Wholesale price index (WPI) rose to around 13% in August 2008 and had faced an equally sharp fall to zero percent in March 2009
• Projections state that the real GDP will grow by 6% in 2009-10
• For the year 2009-10, the forecast for agriculture sector has been revised downwards from 2.5% to (-) 1.4%
• For industrial sector, the forecasts have been revised upwards from 4.8% to 6.3%
• The profit growth of corporate sector in 2009-10 is revised upwards to 10.0% from 7.5%
• Domestic savings to GDP is slated to be 33.6% in 2009-10, this is a revised figure downwards from 35.0%
• WPI inflation would be approx 5.5% which is revised upwards from 5.3%

The India market research statistics lessens the risk of market investment. The analysis of the market is important to undertake any marketing procedures. Go ahead to take the benefits of the India Market Research.

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