'Market Research in India'... The Booming Industry

The market research industry is 35 yrs. . . . Old and its turnover are about Rupees 325 corer. In the last few years, industry has been increasing at about 10%. However, with the liberalization connected with more industry sectors, this growth pace will accelerate. Outside the traditional packaged-goods organization, the most significant growth area for this industry in India within the last few years could be the media measurement organization.

Next would end up being auto, telecom and healthcare sectors that have started spending far more on market research recently. The durable industry is also increasing spend. Ultimately, customer satisfaction in all of the industry sectors is really a growing segment with regard to market Research expertise available in India is truly the surface of the rung and methodologies used in India are comparable while using best on this planet.

And this is area of the reason that The Indian subcontinent is heading towards becoming an outsourcing hub in researching the market for those other entire world. By in addition to large, people would be the same everywhere and therefore methodologies used abroad are often applicable to The Indian subcontinent too. However, in most country there is some volume of customization done and for that reason also for The Indian subcontinent. As globalization increases, the level connected with customization required will decline.

Use of researching the market is still the domain on the MN-Cs. However, professional Indian companies are actually beginning to utilize market research and also any MNC however their tribe remains to be relatively small.

Indian market research business that is sluggish within the last couple of years will now view an accelerated growth in 2004. However, the major activity is going to be in the outsourcing space.