Hi Everybody,

This is my very first post and I was wondering what I should write about. Then I thought that this should be the crux of my experience in the market research business. During the last eight years I have provided custom market research services to companies manufacturing automobiles, providing mobile services, transportation providers etc. Most of my clients are corporates and have multi million dollar turnovers. I must have done in excess of 500 projects and have interacted with people at all levels of the organization. I wish to communicate here my feeelings about this business.

Based on my experience, I strongly feel that all corporates (big or small) desperately need a reliable service provider to address their custom research requirements. In the world of research, where we have giants like AC Nielsen, TNS etc. this comment might look awkward to many. The reality is; big names thrive on syndicated research and do not want to do small projects. They have the infrastructure, resources, and knowledge to take up huge tasks but their sheer size makes them unfit to take up small and unorganized research tasks which are so much so a part of any business.

Even in a highly organized corporate, not more than 30% of the research studies are planned and budgeted. These 30% of the studies consume 80% of the market research budgets. All big names in research and consultancy line up to take their pie. The problem is with the other 70% of the unplanned research. With the low budgets and its spontaneous nature large firms are definitely not interested in taking these up.

This is not something which corporates do not know but they hardly pay attention towards resolving this issue. Many companies nowadays work with multiple research agencies. Well, thats one way of handling this issue. My opinion is that the corporates should groom service vendors in the same way as they groom their material and parts suppliers. A small closely working research agency which has been groomed to understand and respond to your requirements is the only reliable solution to this problem.

Spend some time on this and reap the benefits. Don’t look for readymade solutions when you require customized services. I hope the corporates are listening…

admin Market Research