Thursday 27 October 2016

How Consumer Research Services Make a Difference in F&B Sector

Summary: The overcrowded F&B sector is India is fiercely competitive. Consumer research services provide us with valuable insight into consumer behavior, giving us tools to carve our own space and build a brand.

The steadiest growing sector in most economies is the F&B sector. It is also one of the most fiercely competitive markets. In India the F&B sector has a vast scope today with a rapidly changing face. Ever since the opening up of the Indian economy, the F&B sector has been flooded with new names and products — both Indian and foreign.

The flip side of this rapid development is the overcrowding of the market with new entrants coming in every other month. But this is far less than many developing and developed economies. This combined with the massive size of its population means that the Indian market still has an enormous potential. The perfect tool to exploit this are the Consumer Research Services India.

Understanding Consumer Research


Although we see it more as a part of market research, consumer research is actually a type of applied sociology that attempts to understand the attitudes, behaviour and preference of the consumer. In marketing we are usually concerned with how various marketing campaigns are received by the consumer, how it effects them and how their likes, disliked, moods and personalities affect their decisions.

It can involve observation, surveys, interviews and even experimentation. Most consumer research services include both quantitative and qualitative research. Although, it is concerned mainly with the study of the consumer, this field has a wide scope, including product, market, advertising and pricing research. This is because the consumer has a role in all these areas.

Most importantly, consumer research aims to understand the behaviour of the most important factor of any business — the consumer. As a major B2C industry, consumer research is critical in the F&B sector. For foreign companies from UK and Singapore, this service is even more essential since they are yet to develop their own brand and niche.

There are simply too many benefits associated with consumer market research. Some of these are:
Gauging demand: Despite the many names thronging the Indian F&B sector, there is ample space for newer entrants to grow and thrive. But it is important to know where this demand lies. Most companies fail because of an expansion that happened too early or too fast. For a new company it is crucial to gauge this demand. Consumer research shows us not just existing demand, but also the potential of growth in the market.

Building a niche: One of the most effective means of growing in an overcrowded market is to build a niche for yourself. This helps in creating a brand that stands out and can, hence, find a ready market. But to do that, we must first find what the consumer is looking for — a particular area that can then be built into a niche.

For instance, Consumer Research Services hired by a beverage company found too many sugar-based drinks in the market. Consequently, it started a new fresh fruit health drink line, carving a unique niche for itself.

Building consumer relationship: The F&B sector is largely consumer-oriented industry. In our social media-driven society, consumer relationships have become more important than ever before. But before we approach them, we need to know what interests them, their language, cultural and social preferences.

The only way to find this is through consumer research. But research is not just about initiating contact, it also evaluates how the relationship is built over the years.

Brand evaluation: No matter how small, every business has a brand even if only the owner knows about it! Building a brand is a long-term strategy which must be planned carefully. The most important component of this is the consumer. Before building a strategy we must first find out how the brand is perceived by the consumer. Do they recognize it instantly? Does it have a positive or negative image? How is it positioned vis-a-vis other brands?

Predicting the next big trend: In this fiercely competitive market, it is imperative that one stays a step ahead of the competition. The only way to do this is to innovate and find the next big trend. Consumer Research Services in India provide us an important tool for just that. By talking and observing users we can pinpoint emerging trends and concerns, their requirements and how we can meet them.
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Tuesday 11 October 2016

Why go for Web Marketing Research Services and Reasons to be Cautious

In this age of internet domination, it is foolish to ignore it as a tool of marketing research. Like everything else, the web has revolutionized this function. Marketing Research Firms in India have taken to the web like duck to water. With a tech-savvy workforce, these firms are perfectly placed to exploit this opportunity.

But, this is not to say that web research is without its faults. Like all great tools, it has its own drawbacks. It is important to understand the pros and cons of online tools in marketing research services before one takes the plunge. As a client you must understand how your agency is gathering their data — what are the advantages and drawbacks of the methods used.

Pros

Access to a Large Sample: Web research gives us a chance to access a bigger sample than ever before. No real life sample group can ever meet the potential of an online survey group. Usually one is hampered by lack of space and the difficulty of gathering willing people. In contrast, the internet offers a number of alternatives like MROCs and online bulletin boards. These are usually formed by interested people who are already committed to the research.

A large sample group has an obvious benefit — statistical accuracy. The bigger your group, the more representative it is.

Access to a Diverse Sample: Today more and more businesses are crossing boundaries and going the multi-national way. One of their major requirement is access to research which covers this diverse market. This is possible only through online research. Today a research firm in Delhi can access markets as far away as Denmark.

The research tools usually used range from online bulletin boards to webcam focus groups, which are as good as face-to-face interviews. Again, a diverse sample increases the database statistical accuracy.

Speed: No real world research method can be quite as fast as the internet. For many Marketing Research Services professionals, speed is the web’s biggest advantage. When you want instant data, the internet is the only way. Not only can you hold the survey in a matter of minutes, the data is automatically codified, making the job even faster.

Multimedia: Research is now becoming multimedia. This is important in making presentations and preparing reports. A report with varied multimedia components like graphs, videos, hyperlinks and other interactive features are easy for a layman to understand. Most of these features like hyperlinks and videos are made easier with internet. Some, like remote videos chats, are possible only through the web.

Reduced Costs: Using the web for research is seriously cost-effective. Many of these tools do not cost a dime. Add to this, the savings on overheads like travel, telephone bills and hiring research labs.

Cons

Despite its many benefits, the internet is not a fail proof tool. Marketing research services experts warn that over-reliance on the internet can often lead to faulty results.

Subject unreliability: The biggest drawback of online research is the unreliability of the subjects. While it is true that some samples like MROCs are made up of people who are motivated to participate in the research, the truth is that there is nothing to really stop your subject from getting up and leaving. In some cases subjects may attend more than once using aliases. In contrast, under traditional methods, respondents find it harder to leave a laboratory or a face-to-face interview.

Illusion of infallibility: Too many researchers think that the web is the answer to all their prayers. Some see its reach and scope as the infallible proof of its statistical merit. But, no research can claim to be completely error-proof. The internet has only given it depth, not infallibility.

Lack of the sympathy factor: Online web researchers may have given us unparalleled access, but it also means a reduced role for the moderator. While some believe that it saves the research from moderator bias or expectations, it can also have its negative impact. This method loses out on the moderator’s ability to steer the research according to respondent mood or the ability to form any sympathetic bond.

In conclusion, the internet as an online research tool cannot be ignored. But, it must be used in conjunction with on-the-ground hard-nosed survey where the researcher’s own intuition helps Marketing Research Services to better understand its consumer.
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Sunday 9 October 2016

Why You Should Hire Qualitative Research Agencies in Delhi, India

There are many reasons why you need to invest in market research. But for overseas companies from countries like the UK and Singapore, the question is whether they should hire a local Indian firm. Many of these firms want to work with their local agencies, people they are familiar with. 
But this would be a mistake because you are no longer in your local environment and you are not dealing with a market you are familiar with. For a complex market like India, it is important to understand its intricacies and how you can work in it. For those looking for an Indian firm, Qualitative Research Agencies in Delhi, India are the best bet. The city has many well-known firms who are working on cutting-edge projects. 

Some of the advantages you get with a Delhi firm are:

You get local expertise

The Indian market is chaotic and extremely localized. Marketing must take into account local traditions, culture, lifestyles and taboos. This is not always easy for a foreign firm to understand. This lack of understanding can lead to miscommunication and the failure to understand the most important factor of any business — the consumer. 

The easiest solution is to hire a local agency. These are people who are well versed in the local market conditions. They understand the consumers, their lifestyle and background. They are also better placed to advise you on marketing and distribution channels, ad strategies and so on. 

You benefit from Technical expertise without the extra cost

Today marketing research is a highly technical field. There are a number of research tools employed to carry out surveys, analyse and produce insight. But technical know-how is not usually the top priority of most businesses. They are usually interested in only limited investing in operational costs. 

By hiring a Qualitative Research Agency you can get access to all this technology, even if indirectly. Even if you have not invested a penny on all these tools, you still get the benefit of their reach and efficiency. Yes, there are free tools, but these are usually limited in their scope. A marketing research agency, on the other hand, will invest in the premium tools that are performance-driven.

You get a trained staff without investing in training

With cutting-edge research technology you also need a trained staff. You must also consider that technology and the field of qualitative research is changing even as you read this. So, you need to invest in periodic training programs to ensure that your staff stays on top of their game. All this means a fair bit of expense because a trained employee and training programs do not come cheap.

Hiring qualitative research agencies in Delhi, India is the smartest short cut to ensure this. You have a team of highly specialized professionals who will be working for your campaigns. This has a two-fold effect — you save the money on high salaries and you free your own people and resources from time consuming research campaigns. 

Your own processes get more efficient

The eventual goal of any market research project is increasing efficiency. Qualitative research attempts the same by understanding your market and consumer. In the process, you find out if there is any wastage of resources on your end. 

Hiring outside agencies also has a long-term effect. Without any outside help, most companies expand their marketing department as per requirement, which means they also often have to fire people when there is a dip. This, in turn, results in attrition costs, loss of employee morale and expertise. When you invest in an outside agency, you can focus on core functions of the organisations that need not be affected by every slight fluctuation. This makes your own process more efficient and productive. 

You get access to a trained work force

One of the major concerns for business firms from countries like UK and Singapore is finding a research firm with good communication and technical skill. Fortunately, Delhi boasts of a number of premium institutions which not only ensures technical expertise, but also communication skills. Since English is widely spoken, most qualitative research agencies in Delhi, India will have English-speaking staff. 

There are clearly many benefits of hiring qualitative research agencies in Delhi, India. So, start shortlisting and decide the firm you want to hire.
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Saturday 8 October 2016

How Consumer Research Services Can Help F&B Sector

What is the one thing that is important to every consumer around the world? It can be counted as an essential commodity, one with which we all have an emotional connection. We are talking of food and beverage industry. As one of the fastest growing industries around the world, it is also in need of comprehensive and relevant market research like never before. 

As a result what we see are a number of specialist F&B Consumer Research Services. The industry has specialized to such an extent that we now need experts to understand and conquer this market. The good news is that this is an industry with a vast untapped potential, especially in markets like India. But, it is not without its challenges.

Challenges in the F&B industry

Increasing Specialization:
 This is not just a simple division between food and drinks. Now we have multiple segmentation within the industry. Health food, organic food, fast food, special cuisine, Ayurveda food, alcoholic beverages and so on. It is important to find your niche in this spectrum. 

Health concerns: A dominating factor when it comes to concerns regarding the F&B industry today are health concerns. From the intrepid blogger to the award-winning scientist — everyone has something to say about it and chances are that it is not always good news for you. Despite this, we find during F&B consumer research services that many clients are still not aware of this impending roadblock. 

Reducing Operational Costs: One of the overriding concerns for any globalized industry is the spiraling operational costs. This also applies to the F&B industry. These costs are associated with factors like sourcing of ingredients, bringing new operational methods and steep taxes. 

Consumer Research Services in Food Industry

With its direct interaction and dependence on the consumer, the food industry can benefit enormously from consumer research services. This is not just essential to meet the above challenges, research can give us valuable insight and help us meet any impending risks. 

Finding a Niche: The food industry is actually a wide ambit and includes animal food, dietary supplements, food ingredients, fast food chains, fine dining, food retail chains and more. This makes the food industry a complex and an extremely competitive business. Over time it has also become increasingly specialized. This makes it essential that you are clear on what your niche is. 

For instance, the category of food retail industry is not sufficient. One must now specify whether their products come under organic, Pharmaceutical, Ayurveda and so on. This is  important in further branding and marketing strategies. Consumer Research Services tell us what people are looking for, emerging trends and food concerns. 

Finding the Right Market: Too often entrepreneurs have preconceived notions about who their target market is. This is even more common for foreign firms with little understanding of Indian culture and traditions. Consumer research services often reveal surprising results in this scenario. Even when the
results are expected, research can reveal a completely unexpected outcome.
   
For instance, a catering service repackaged itself as a corporate tiffing service after research revealed a growing need for home-cooked lunch service in its market. They found their niche and a brand new market!

Anticipating the Next Big Trend: The food industry is one of the fastest changing industries. What was fashionable an year ago seems almost retro today. Consumer research services are often the only way of anticipating the next big trend. It can keep you a step ahead of the vicious competition in the field. 

For instance, a snack joint switched over to breakfast with super food ingredients a couple of years ago after research revealed that its customers were looking for something different from traditional options. Research also revealed a growing demand for health food. 

Finding Potential: For many overseas F&B companies the main concern remains the acceptance of their product by the largely traditional Indian market. While some products like instant noodles may find takers across the board, other exotic or elitist items, like wine, are restricted to smaller pockets. Consumer research services can reveal where this potential market exists so that it can be further exploited. 

Consumer Research Services
 have become an inseparable part of the F&B sector. It is vital to evaluate the success of existing products, find improvements and new markets. 

Summary: The overcrowded and fiercely competitive F&B sector can benefit highly from consumer research services. It can help companies to find their niche and new markets.
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Friday 7 October 2016

Speaking Local with Market Research Companies in India

Business communications has never been as important as it is today. With the internet opening up the world and making it a really small place, it is important to understand how we can make communication work for us. It is, after all, our means of connecting with the public at large and our own work force.

The other facet of this is the growing importance of localizing communication efforts. Businesses are fast realizing that even as we gain access to more and more of the world’s market, their communication strategies should become more localized. This is where Market Research Companies in India play an important role.

An Indian agency brings its expert knowledge on local culture that can have a critical effect on communication strategy. For overseas firms from countries like UK and Singapore they can make a crucial difference. This local knowledge can help them avoid mistakes and tailor their communication for maximum effectiveness.

There are a number of areas that come under business communications. It includes all avenues of interacting with the general public, such as:

Advertising
Memos, manuals etc
Public relation
Direct sales
Signages
Exhibition or trade show experiences
Social media
Flyers, e-mails and other direct communication

Usually an organization’s communication strategy is combination of all these. These are both direct and indirect means. The challenge lies in molding all these channels according to the market, business needs and changing environment. Market research is the only means of achieving that. Some of the way in which market research can make a difference is:

Understanding the language: This is not just important for overseas firm who are unaware of local language nuances. It is also important for established local firms. This is because how we communicate changes with time. In India there is also the added complication of regional languages and cultures. A Market Research Company in India works to understand how people are talking to each other, what are their taboos and the language they use?

Understanding brand positioning:
This may come under branding, but it is communication research that tells us how a brand is positioned in the market. Media chatter and direct market research can tell us where the brand is positioned.

Research also tells us about brand identity. How do people see it? Do they understand its philosophy? How good is the brand recall and how effective is the brand development strategy. It is also essential to see how various communication means project a cohesive brand position.

Improving effectiveness of information packages: Businesses often issue public information packages. These could be concerned with the product or service like an instruction manual or communiqués about the company activities. In both cases there are business goals. Research focuses on the effectiveness of these messages. Do the people understand the instructions? Are these easy to follow? Does it answer any query that the user may have?

Evaluating ad effectiveness: Advertisements are essential tools for any business and they spend millions on ad campaigns. But just how effective are these strategies? Advertising research is a vast research field and covers a number of important issues. Do the people understand the message conveyed? How close is it to the company philosophy? Does it generate curiosity? How many people are motivated to go and buy the product after seeing the ad? How many people remember the ad later on?

Gauging social media chatter: The social media has become an important point of communication today. It can give us crucial clues on how people are talking about the brand, product or service. It can be particularly useful for quick research, such as gauging initial reaction to a product launch.

Improving mail communications: The mailers of old have received a new lease of life with e-mails. But the truth is that most people just junk the mail as soon as they receive it. The challenge then lies in keeping the attention of those who do click on your mail. The key is in understanding what people want to read.

For instance, market research for a woman clothing manufacturer shows that the most common past-time for its target users was reading fashion magazines to understand fashion trends. Consequently, the company mailers started including news on the fashion world with tips and trends.

These are just some of the ways and means through which a Market Research Company in India can improve and hone business communication.
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