Market research in India will help provide the insights of the Indian consumer. We have to ensure that a credible & knowledgeable research company guides the client through understanding the Indian market. Within the Indian markets there are hidden segments of customers which cannot be separated or understood using common methods. A combination of unique techniques & market knowledge has to be used to segment the market appropriately. This will help a company launch a service product effectively.
Service products are virtual, they are hard to describe. Service products are more difficult to understand. It is difficult to communicate a service offering. The views and the buying thought patterns of the end customer are difficult to understand. At the same time appropriately positioned service product can be very profitable & can be delivered with very high margins.
Any Indian research company has to use a combination of methods. They have to use information available in the public domain by conducting secondary research. This is then combined that with depth interview & other qualitative techniques. Then the knowledge is coupled with the power of using quantitative techniques to understand the market size.
Service offerings can be in many different domains including education, legal services, consulting services, travel services, financial services, insurance, banking, legal services, design services, food service, automobile service and others.
Some of the reasons a service launch fails is:
- Poorly designed service
- Lack of adequate investment
- Lack of understanding of the market
The eMpulse Team
(www.empulseglobal.com)
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