The 10 Highly Recommonded Market Research Companies 2019

1. www.insightssuccess.in VOL1 January-2019 COMPANY OF THE MONTH ISSUE 3 Abhishek Shinde CEO Excelsior Research 10 MARKET RESEARCH COMPANIES 2019 THE 10 HIGHLY RECOMMENDED Asmita Mishra Co-founder & CMO Piyush Soni Founder & CEO EPITOME RESEARCH SERVICES Decoding the Market for Success

4. Treading the Fine Line between a Hit and Miss! From the EDITOR Market Research has always been around ever since mankind commenced business. What was a raw, unstructured way to know the minds of the customer is now a streamlined and specialised process. Though the modus operandi has changed, the basic ideology remains the same --getting the right market for a product. Before a product hits the aisle of a famous supermarket, a lot of groundwork is done to prepare the market for it. Market Research involves all the behind the scene tasks. Right from naming the product to its packaging colour, target areas, competitors, advertisement medium and much more is decided much before the product or even a new service is launched. All of this is done to make the product a star from day one. Market Research methodology has had a facelift in recent years with technological advancement. Data, which is the new oil, is being harnessed in different ways and used through different techniques to deliver crisp reports for businesses. The research techniques are now more web and technology based. The Internet and Social Media is redefining the way surveys are conducted. Big Data Analytics is the new buzzword in Market Research and companies are creating customized data analysis tools for better results. Sneha Sinha The advent of Digitalization has boosted Market Research in India, along with the startup-trend and stiff competition from overseas as well as established indigenous companies are the contributing factors. Backed by efficient technology and enthusiastic individuals, the industry is now more focused, well-organized, cost-efficient and open to new experiments like gamification to give a better experience to the clients. The coming years will see increased digital interactions, faster solutions, adaptations to newer technologies like AI and ML, and shorter, to the point reports. Here’s looking forward to an industry that is working untiringly so that businesses take better decisions always!

5. Editor-in-Chief Pooja M. Bansal Managing Editor Rahul Niraj Executive Editor Sneha Sinha Art & Design Head Amol Kamble Associate Designer Poonam, Shweta Art & Picture Editor Rahul Kavanekar Co-designer Aparna vanzul Business Development Manager Akansha Garewal Sales Executives Sonica, Ashwini Technical Head Swapnil Patil Technical Specialist Amar, Pratiksha Digital Marketing Manager Prashant, Rahul SME-SMO Executives Swati, Manoj Circulation Manager Tanaji sales@insightssuccess.com January 2019 Corporate Ofces: Insights Success Media and Technology Pvt. Ltd. Off. No. 513 & 510, 5 Flr., Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: info@insightssuccess.in For Subscription: www.insightssuccess.in Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-602-1754 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com th Cover Price : RS. 150/- https://twitter.com/insightssuccess Follow us on : www.facebook.com/insightssuccess/ We are also available on : Copyright © 2019 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success Media and Technology Pvt. Ltd. Reprint rights remain solely with Insights Success. Printed and Published by Insights Success Media and Technology Pvt. Ltd. RNI NUMBER: MAHENG/2018/75953

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7. A r t i c l e s 22 34 Company of ?e mon? 16 20 42 20 32 32 42

8. 1 1 HIGHLY RECOMMENDED MARKET RESEARCH COMPANIES2019 THE Making Business Market Ready C Market Research helps to identify and analyse the market needs, size and competition which serves as important information for companies. In this issue of Insights Success, we are glad to enlist “The 10 Highly Recommended Market Research Companies 2019”. These companies specialize in market research and provide insightful information to other companies to succeed. ompetitive business today calls for methodologies and strategies that help a business acquire advantage right from the start. Market Research is now considered as one of the important factors which help a company to maintain competitiveness. The Cover Story of this issue features Epitome Research Services which is a full-service market research agency with core expertise to collect brand advocate’s voice and analyse their opinion. Excelsior Research Pvt Ltd is the Company of the Month and a full-service market research agency offering a wide range of Research Solutions and Services. Also featuring in this issue are Craft Driven Market Research, a company started out of passion and a drive to make it easier for the start-ups, new businesses and business expansions take business decisions, TechSci Research, a research based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries and Verace Market Research which empowers businesses with faster and better decision-making solutions. Further pages in the issue highlight the viewpoint of Krishnakant Panchal, Founder and CEO of Rushi Market Research Services on Recognizing Target Customer and Falguni Sheth , HR, New Horizon on the Changing Face of the HR Department. Read through the insightful interview of Sundeep Holani, CEO and Co-founder, ChannelPlay Limited. Our in-house articles Data Analysis Tools to Dig into Datafrom Decoding Data and Technology: The Fuel for Market Research from Tech Talk help you gauge what exactly market research involves. We hope you enjoy reading this issue as much as we did while creating it!!

10. COVER STORY T quick, accurate and based on analytics. Businesses have abundant data but to convert it into meaningful and actionable output requires some serious number-crunching and analytical skills, ability to draw insights, strong understanding of the market and a way to craft a relevant story for the clients. oday’s age of tough competition calls for business decisions that are Facilitating these crucial business decisions is Epitome Research Services LLP, a boutique full- service market research agency established in 2016. It offers diversified services and deals in both Quantitative and Qualitative market research, to help enable business decisions, optimize strategies and fuel thought leadership. A young and fast expanding research firm, Epitome RS has its operations across the Indian market. It also has PIYUSH SONI FOUNDER & CEO EPITOME

11. presence in some international markets for specific research needs. Epitome RS focuses on understanding client’s business issue and provides tailor-made research solutions to meet their requirements. The Complementing Partnership Epitome Research Services LLP is a joint venture by Piyush Soni and Asmita Mishra. Each of them comes with almost a decade of research experience across both traditional and online research. With their experience and impressive research portfolio, they collaborated on this venture to leverage on each other’s knowledge and expertise of the field. Their aim is to provide customized research solutions that will bridge the gaps seen within the industry today. Contributing their time and energy with complete dedication, they have been fundamental to the growth of the company. ASMITA MISHRA CO-FOUNDER & CMO RESEARCH SERVICES DECODING THE MARKET FOR SUCCESS “EPITOME BRINGS WEALTH OF KNOWLEDGE AND COLLECTIVE EXPERTISE IN CUSTOM MARKET RESEARCH, ONLINE PANEL DEVELOPMENT, SAMPLE DELIVERY, AND RESEARCH TECHNOLOGY.”

12. Offering Valued Services Epitome Research Services LLP is a full-service market research agency. It also offers need based services in project management, data collection & fieldwork, analytics, etc. Epitome RS offers both traditional methodologies as well as newer methodologies aided by technology in both qualitative and quantitative research. One of its core strength lies in conducting online research and has developed an in-house online panel. Other areas where Epitome can partner with clients are Data Visualization, Statistical Advising, Web Listening, etc. Challenges are Opportunities in Hiding With a plethora of products and big brand names occupying consumers mind, the need to be unique and relevant increases. It is crucial to know the market landscape in terms of category, competition, consumers, associated benefits and risks related to your offering before stepping into the market. But these opportunities are not without challenges. In Market Research there is a huge gap when it comes to authentic, fresh and timely data. This acknowledgement paved way for Epitome RS to lay down its values and objectives before starting out the venture. Data can be large, complex and thus overwhelming for clients. So, to rightly categorise it and uncover insights from it, is another area that Epitome RS works on. Epitome RS is easing the process through the right mix of researcher experience and automation, to bring out robust and reliable research results. Further to bring transparency and easy communication, in order to strengthen the work chain and get quality output, Epitome RS believes in inclusive way of working with its vendors. It does not see them as outsiders rather an important part of its team contributing to the work process. They provide vendors with necessary training to meet Epitome standard of output, work with them on co-creation WE USE VARIOUS TECHNIQUES & METHODOLOGIES IN RESEARCH DEPENDING ON THE CHANGING CONSUMER PATTERN

13. are made with quality data of tools and take on board their ideas and suggestions to further value-add on the output. Changing with Times Developed by its in-house team of experts, Epitome RS’s services are recognised in the market for its efficiency and structure. Actively keeping up with the changing times, Epitome RS has taken many initiatives like developing in-house panel, having a CATI team, etc. to drive efficiencies. It is also registered with esteem bodies like ESOMAR to show its commitment towards fair practices in the industry. Expanding into new markets and integrating various technologies in its system, Epitome RS has got Mobile compatibility on tools for Clevel employees and is planning for AI. People Matter Epitome RS has a team of qualified and highly experienced people who manage all their projects right from operations to final deliverable. As a company Epitome RS is built on the values of trust, understanding and great human connections. To foster these values and for bringing them to life at work; the founders believe in providing the right work environment to their employees. The company believes in growing with their employees and thus provides them with need-based training and ensures they have a good work-life balance. Team holidays, rewards, extracurricular activities and celebrations are some of the different ways in which the company appreciates and values its employees. They take pride in their relationships with its people who are always supporting and helping grow the organization. Epitome RS also believes in giving back to the society by helping those in need. They work on various initiatives with an NGO named Bodhi Foundation

14. 1 1 HIGHLY RECOMMENDED MARKET RESEARCH COMPANIES2019 THE Prepping for the Future “DATA IS HUGE AND BECOMES OVERWHELMING, SO CATEGORISE IT RIGHTLY & UNCOVERING INSIGHTS FROM IT, IS OUR AREA OF EXPERTISE” The ever evolving Market Research industry has ample opportunities for anyone who seeks the thrill of working with consumers, data and helping brands with their strategies. Piyush and Asmita offer their suggestions to them saying “Being an entrepreneur naturally implies a lot of risks and challenges one is going to face. That calls for foreseeing business problems and then backing it with necessary strategies to make the whole plan work out. These will be a mix of short and long terms strategies.” The founders also advise to never lose hope of one’s ideas and beliefs. “Everything works out with the right mind-set. At the start of our venture, chances of things panning out seemed to be less but that didn’t stop us from moving ahead and taking authority of market research in today’s time” With efficient and reliable services, Epitome Research Services has successfully established itself in India and the UAE. As the world is going through changes in terms of technological advancements, political and socio-cultural environment, the basis of market research is to accurately take these factors into consideration and get insights. This pressing need makes research all the more competitive and demands the researchers to be on toes. Thus, the company has further plans to continue integrating technology and best human talent to offer cutting edge services for every kind of business whether small or big. Along with upgrading as per the trends, it is also looking forward to expanding in the UK and the US. With its eye on the future, Epitome surely has its own market well researched.

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18. EXCELSIOR RESEARCH Market Research for Achieving Business Excellence F who are more demanding than ever, reaching out is very crucial for a company. Finding the right target area and customer is important and easy when an organization has access to a marketer who can perform research and analyse the results. The key to reaching the correct customer lies in the research data that is available to crunch and analyse. or a product or service to excel, it needs to reach the right customer at the right time. With a global market which is fiercely competitive and customers excellent communication, networking and sales as his strength. He has helped Excelsior Research to be associated with major players across all domains to serve them relentlessly over years. From Challenges to Champions Excelsior’s service offerings include multi-mode Data Collection (both quantitative and qualitative techniques), Survey Programming & Hosting, Data Processing and a wide range of back-end support services like data coding/punching, qualitative transcriptions and translations. It pools a client-focused approach with robust project management in order to offer a unique experience and solution to its clients. Its range of services comprises of Primary Market Research, Secondary Market Research, Report Writing, Report Reselling, Content Syndication, Lead Generation, Demand Generation, Email Marketing, SEO, Online Panel Building and Events/ Webinar Registrations. It offers Market Intelligence studies ensuring relevant fact-based research across a range of industries including Healthcare, Automotive, Technology, Chemicals and many more. Helping Clients to Meet the Customers Benefacting companies worldwide with its stronghold on market research are Excelsior Research Pvt Ltd, a full- service market research company. Backed up with experience, its research professionals are competent enough to handle complex assignments with ease. The company started as a small unit with a handful of employees in 2015 and has now grown to a strength of more than a hundred employees. Being consistent in its work quality, ethics and adherence to timelines has helped it retain and increase its valuable client base all-round the globe. Bringing his experience of over a decade in Market Research Industry through Excelsior is its CEO, Abhishek Shinde. A highly qualified individual with Masters in Business from reputed Symbiosis Institute, Pune, he holds ‘‘ taken not on gut feeling but through inferences drawn by a scientific process known as Market Research The expertise that Excelsior now holds has come after its fair share of challenges. The biggest challenge that it faced in initial years was sourcing right candidates. Abhishek adds, “It’s really challenging to source candidates in this industry, who actually understands the scope of this industry. With good mentoring & proper motivation, we were able to do employee retention to a great extent.” Business decisions are The once deficit area of human resource is now the company’s strength. Excelsior’s core team consists of passionate market research professionals with rich multi-function experience in domestic and international market research and knowledge management processes. ‘‘ Leadership at Excelsior Research comes with vast experience through its senior-level association with leading Market Research and Consulting firms. The team provides January 2019| 16

19. ‘‘‘‘ Company of the Month We believe in a cost-effective research approach providing timely, reliable and efficient results Abhishek Shinde CEO |January 2019 17

20. ‘‘‘‘ strategic objective insights, helping its clients to make informed business decisions. It also periodically updates its market research studies to ensure that its clients get the updated, relevant, and valuable information. Its industry experience and ability to provide thorough insights gives its clients the ability to secure a competitive edge over others. We combine a client-focused approach with robust project management to offer a unique experience to our clients The Industry and its Potential Changing markets have changed the way business decisions are taken. They are taken not on gut feeling but through inferences drawn by a scientific process known as Market Research. To assess the feasibility of his venture, an entrepreneur needs an insight about the true need of the product or service to be launched, the target customers, profitability, competition, the potential of the venture, and new opportunities. These answers are provided through systematic market research by the inferences it draws from the research that eases the strategic decision-making process. To survive, sustain and grow in today’s cut-throat competition it is of prime importance to make decisions in the right direction with very low or no margin of error. Excelsior’s Way to Excel performers in respective teams which boost the morale of each and every employee for optimum performance. Also every quarter the teams go for CSR activities, serving society through tie-ups with many NGOs. Bring On the Future! The company adopts a systematic approach to empower its clients. Acknowledging the market research problem statement, then prepares a questionnaire which is thoroughly designed to cover all the aspects of the topic under study. Data is gathered from the intended target audience and then analysed for different trends to get a solution to the problem under study and is finally presented in the form of reports. The company is flexible in terms of methodologies depending on the clients’ needs and budget. The market research industry in India has created a huge potential and is now being applauded for being indispensable for businesses. This also creates opportunities for the young to look at it as a potential career. “Startups should focus more on value delivery to its customers, which is most important for any organization to differentiate themselves from other players in the market”, counsels Abhishek. Having a clear vision of the future is also essential for startups. In order to handle the huge database of records and for easy and faster excavation of data Excelsior Research has come up with an in-house developed CRM for management of internal data repository. It works on various online tools specifically designed according to the client’s requirements for smooth deliveries. It is adopting new technologies to ensure it provides the best services to its clients. Spelling Excelsior’s future goals, Abhishek says, “As a company, Excelsior Research would continuously strive to be the best agency into the market pertaining to End to End Market research activities considering the competition and genuinely in the market.” Excelsior has already started expanding its horizons with sister concerned companies like Excell Reports and recently acquired Online sampling company Cyber Age Research which would be working under Excelsior Research umbrella. Excelsior Research aims to become one stop solution for all the existing and new clients. The company strives to deliver excellence in terms of quality of the research and aims to achieve its mission of “Being the best agency to work with”. As the company evolves it finds its own way to engage and uplift its employees and reciprocate the recognition it has received from the society. It carries out different team bonding activities within the organization. Monthly training sessions are arranged in order to ensure that each and every employee is adept with the latest skills required. Through Rewards and Recognition, the company felicitates the January 2019| 18

22. 1 1 HIGHLY RECOMMENDED MARKET RESEARCH COMPANIES2019 THE Craft Driven Market Research Business Decisions, Made Easy Aakansksha Aggarwal Founder C span across various segments of the start-up industry. It aims at providing the best solutions and knowledge to increase the clients’ market space and gain maximum benefit of their respective capacities. It specializes in market research that covers market intelligence, competition analysis, customer analysis, marketing strategy, pricing strategy, market expansion, customer preferences and customer segmentation and profiling. raft Driven Market Research, a Noida based company provides market intelligence, business consulting and market research services that product launches and the businesses that are going to expand their territories. This realisation, added with many start-ups faltering due to lack of clear business direction, made her explore more on the same and let her create a market research structure that can help start-ups take better business decisions. Craft Driven officially started in Feb 2016 with Aakanksha working alone for a good time-period with some hired interns. Initially, it was quite difficult to convince small companies that market research can actually save them quite a lot of money, but slowly it picked up. Now her team works on an average of 80 projects in a year and many of them are repeat customers which she believes is quite amazing in a field such as market research. Aakanksha Aggarwal, the Founder, was always fascinated with different businesses and the way market moves in specific patterns. She found solace in reading about different companies, their strategies and business decisions which impacted their revenue at large scales even though decisions seemed quite minor. But turning this passion into profession didn’t strike her early on. It was during her Master’s in Management while working on several projects requiring market-research that made her realise its real-time importance for new businesses, Fuelling Startups Globally, the startup trend saw the young and passionate come forward with new ideas and start their business around it. However, their success rate remains low. In the year 2016, it was reported that more than 200 start-ups January 2019| 20

23. closed their doors in India alone. The reasons ranged from lack of resources, lack of proper planning to lack of correct estimations etc. Aakanksha believes that if they had been provided proper market research, many of them could have been saved. “Craft Driven Market Research was established with the plain motive to support start-ups and businesses in achieving their goals through market research,” added Aakanksha. terms that earlier people were to be told what market research can do for them and now, they already know the benefits. She further adds that in today’s time, the major challenge is the start-up industry is that people are motivated more by funding and investment, and less by passion, which is definitely not a necessary drive to get success in the business. She says, “People ask us to do market research and they expect that we will set up their business for them. They do not understand that they also need to invest their time to understand the outputs of market research and then use them for their business.” The company is a boutique market research firm that provides custom market research to the clients. It has a strong experience working with firms located all over the globe while supporting the companies in shaping their innovation and creativity. It believes in keeping everything sharp and concise and strongly trusts its small team which leads to lower overall costing of the projects, an ideal situation for the clients as well as the firm! Advice for the Newbies Aakanksha reminiscences when as a kid, she read the lines- Try to get what you like; else you will be forced to like what you get. The statement stayed with her. For all the budding start-ups and entrepreneurs, she says, “start liking your work and yes, money is also important. Purpose of any business is making profits, don’t do things for free unless you get any return (it could be mental satisfaction as well).” Trusting employees and delegating work is important, as an entrepreneur can’t do everything all alone. It has worked with several start-ups and businesses in the USA, the UK, Europe, and the Scandinavian countries, Australia, India, Malaysia, Thailand and Singapore. Recently, it has started a new segment that focuses primarily on the Singaporean market. The major research areas that the company works on are: • Customer analysis • Competitor Landscape • Market Trends and Analysis Based on the above three studies, it further supports the clients with their marketing strategy, business development strategy, business plans, company projections etc. Exploring new shores The company now has a strong foothold in India and is looking forward to its expansion in Singapore. It is narrowing down its expertise through sub-segments of the company so that it can support more start-ups and businesses to take difficult decisions. Craft Driven hopes to make a bigger impact on the lives of several entrepreneurs and businesses.“ “ Seeking Opportunities and Meeting Challenges New business launches are never easy; one needs to understand multiple factors before taking up any decision which market research does for them. A new business can have a good investment, a great idea, generate enough customer interest and have everything seemingly going great for them. But if it can’t fathom the extent to which the business can grow, and take strategic decisions, they may eventually shut-down. We help you knit your dreams. Talking of opportunities in market research, Aakanksha says that it’s positive for coming years and that “Even though the awareness is growing slowly, yet it’s taking stronger steps.” The last 3 years have seen the change in |January 2019 21

24. Tech Talk TECHNOLOGY The Fuel for Market Research January 2019| 22

25. B usiness Development today is more process oriented than intuitional. Businessmen in the early era often decided the course of their business on the basis of their acumen and gut feeling. But in today’s world, instincts are not the only thing worth listening too. A business needs a proper plan, strategy, innovative ideas, better reach and best utilization of resources to prosper. from the neighbourhood. The sources of data are now global, online, offline and more holistic. The data is no more limited to one word answers i.e. yes or no, the research now takes into account emotional, behavioural, passive, and other forms of data. More Expansive – Data collected is now more versatile. It is now easy to reach unthought-of areas to gather data. The methods and tools of data collection have evolved. Days of a simple questionnaire have evolved into the online questionnaire, social media polling; new geographical areas, demographic based, and provides more flexibility to the customers participating in terms of time and choices. Understanding Market Research An important component of the business strategy is Market Research which is often defined as an organized effort which gathers information about the target market and customers and helps in designing a strategy. The process aims at providing important information which helps in identifying and analysing the market need, market size and competition. Market-research techniques comprise both qualitative techniques such as focus groups, in-depth interviews, and ethnography, and quantitative techniques such as customer surveys, and analysis of secondary data. It systematically gathers and interprets information, including social and opinion research, about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to leverage or support decision making. Data Analysis Advancement – The data collected must be analysed to make some business sense out of it and facilitate decision making. Technology has made data analysis easy, various platforms like mobile and web which make the analysis easier and more decision oriented. The best part is that they can be used by anyone and not just experts. New Roles – Technology has simplified the process but also created more roles and opportunities for experts. Though the tools are within reach of anyone, businesses still require an expert’s overview for the final outcome and decision. Introduction of new methods has also generated the demand for subject matter experts who learn and adapt to new technological changes in a quick and efficient manner. There are basically two types of market research data for analysis: • Primary Data, which is the first-hand information one gathers oneself or with the help of services from a market research firm. Sorting Data – Data is a good thing but too much data can be overwhelming. Technology has served businesses with tools and techniques, but the ones best suited for a particular business need human intervention in terms of experts. Sorting the available data, tools and techniques are as important as using them. A wrong tool for the right business can result in a bad decision. So it is in the best of a business to utilize the services of technology along with human resource. Technology has definitely enhanced the way Market Research is done but the core remains unmodified. The way things are being gathered and delivered has changed, but the human brains that decode it are now more equipped. Through technology, the market research industry is performing more effectively and efficiently and creating roles and market practices hitherto unexplored by businesses. • Secondary Data is pre-existing information in the public domain, like the data shared in magazines, newspapers, and government or industry reports. One can analyze the data in a way he or she deems appropriate, but the information is basically available to a large number of people. Technological Amplification With technological advancements, the Market Research industry has seen tremendous changes pertaining to the way data is collected and analysed. These changes have made the entire process faster, crisper, cost-effective, easier and more informed for decision making. Here’s how the change has been brought about by technology. Compounded Data Sources – The sources of data collection has certainly multiplied. It is now more than collecting data -Sneha Sinha |January 2019 23

26. CHANNELPLAY LIMITED: Helping Business Se? Better C In the following interview with Insights Success, Sundeep Holani, CEO and Co-founder, shares his views about the industry and his company’s role in it. hannelplay Limited is a leading Sales Force Automation, Shopper Marketing & Channel Management Company in India. Working with clients in diverse industries, it delivers high-performance solutions to help clients increase their sales at the Industry’s best ROI. 1. Kindly brief us about Channelplay Limited and its inception story. Channelplay was founded in 2006 by three IIM Calcutta graduates from the class of 2003. The three founders worked in different jobs from 2003 to 2006, where they collectively realized that there is a huge gap in the channel enablement space. Many companies that make great products find it difficult to understand, conceptualize, develop and manage a sales channel that can take their products to customers in the wide Indian geography with complicated sales and distribution structures. To address this gap, the three started Channelplay with a vision of providing a complete go-to-market solution to its client. The Market Research offering is often the first step which helps brands understand their customers, channels and competitors to create the right go-to- market plan. 2. Brief us about the Founder/CEO and his/her contribution towards the upliftment of the company. The current CEO Sundeep Holani is also a co-founder of the company. Under his leadership, Channelplay has grown to over Rs. 200 crores in annual revenues, and has over 5000 employees in over 300 cities in the country. Aside from being one of the industry leaders in size, Channelplay is also widely recognized for its quality of service, leadership in technology adoption and for its great organizational culture. January 2019| 24

27. INTERVIEW with INSIGHTS SUCCESS Sundeep Holani CEO and Co-founder 3. What are the distinct products and services provided by the company? Channelplay provides services under three major heads – Consulting, Execution and Technology. Under the consulting business, it has services for Market Research, Mystery Shopping & Audits and Sales Training. Under the execution business, it provides services for Sales Force Outsourcing, Visual Merchandising and Loyalty Programs Management. The technology business provides industry leading SAAS solutions for sales force automation, distributor management, data collection and analytics and CRM. 4. What are the challenges in the industry that Channelplay Limited tackled on its way to success? One of the key challenges to address in the industry has been poor availability of human, technical and physical infrastructure – especially in non-urban parts of the country which are significantly large markets but do not have appropriate resources for professional execution of work. Channelplay has built capability to hire and train quality resources, has developed a great technology stack that enables it to execute with reliability and transparency, and has also developed a great network of physical infrastructure providers that help it run its business effectively. 5. How significant is the Market Research Industry in today's business model? A deeper understanding of consumers, channel and competition is critical to the success of any business – and Market Research is the primary way to gather this understanding and insights. While Market Research models have changed over time to incorporate digital modes of information capture, the industry itself is as integral as ever to most consumer brands. |January 2019 25

28. Interview with Insights Success 6. Please mention any recent technological advancement that the company has incorporated for offering better solutions. Technology is at the center of Channelplay’s business. Channelplay’s inhouse market research management and insights platform 1Viewhas long been a key tool that has helped ensure that reliable data is captured in real-time and with transparency, and that actionable analytics are conducted through advanced BI tools and data is presented in a intuitive way that supports decision making. 1View has now become a standalone product that is now being sold to market research and mystery shopping companies across the world. 7. What methodology does Channelplay Limited use for market research that makes it unique and is an advantage over competitors? Please also mention the awards and accolades. Channelplay’s market research offering is structured around being technology driven, having high geographical scale, and having great execution speed. The most frequent use case that Channelplay serves is when its clients want reliable insights in a short time frame from a wide geographical footprint. Channelplay believes its work speaks for itself, and has received numerous awards from its clients for great work done. Channelplay does not apply for awards from privately held event and award organizations. 8. How does the company keep employees motivated and handles it’s societal responsibility? Channelplay is a very progressive organization with a very employee centric culture. It believes that size and provenance have nothing to do with culture – and one need not be a Silicon Valley tech company to have a great culture. Channelplay’s people, policies and infrastructure are world-class, and best in industry. Channelplay is a socially responsible organization, and undertakes many good initiatives through the Channelplay Employees and Public Welfare Trust. Channelplay by virtue of its size also falls under the legally mandated CSR policies for large organizations, and it discharges its duties with great diligence. 9. What would be your advice for the budding start-ups and entrepreneurs in the industry? Channelplay is not only an entrepreneurial organization in itself, but works with a large number of entrepreneurial organizations to help them successfully take their products to consumers across the country. Our conclusion from all of our experiences is that India is merely at the beginning of a great period of growth and development, and that opportunities abound. The biggest advice we can give to entrepreneurs is to keep at it, and to adapt as needed. If you can stick around long enough – success is inevitable. 10. Brief us about Channelplay's future perspectives. Channelplay has been growing at over 30% year on year, and recently crossed 200 crores in revenue. We now have even more aggressive growth plans, and expect to cross 500 crores in the next 3 years and become India’s leading company in each of the business verticals that we serve. www.channelplay.in January 2019| 26

30. Winning Customer RECOGNIZING T ARGET CUSTOMER THE KEY TO SUCCESS on praising your company by advertising. Your future prospective viewers should think that You want to understand their needs and work them for the necessary product and service and deliver them. You are trying to make their lives better and easier. Working with the advertising agency and quality ensures that you are connected with them. Know your target audience · Knowing who your target audience is before, it is important to know how to reach them. It is also important to know how small companies and competitors are trying to reach out to existing customers or how they are reaching. In the market, how they deliver their product and service to their target audience. Or knowing how to use the service. It should be analyzed on the history of the past and present through market research. Who are your current potential customers by collecting different information like age limit, gender and household income? A reputable advertising agency works on that information to identify it. Build faith and trust · In order to make your company trustworthy and gain the trust of your audience on your company, the advertising company helps in developing the right strategy by using appropriate words, tones and images. Your target audience cannot trust the product or service of your company. They may need to work hard to build trust with them again by joining them again. for the success and development of the future of the young and the target audience confident for the new business. Keep an eye on the needs of your target audience · Effective advertising and value companies have great significance. Your target audience is living with you, executive, doctors, or office workers. Your ads need to talk to them and understand their needs Your target audience does not know your company’s name, structure and history. So they cannot reach you. Your advertising should be effective and reach them. That’s what you can do for them and you are taking care of their lives and helping them make their life better and easier. Make a message that people look after your company and stay connected · If your advertising is not attractive, or if the target audience cannot believe it, then you cannot get the correct result. A good and respected advertising company understands that there are proper words, images and tones sold in the market. By giving a correct bend to your failing words, improving graphics and pictures, and giving proper attention to the action, making your ad appropriate and reaching out to the public. Today, different people are surrounded by advertisements. Different studies show that the number of ads and brands that a person watches over a day is more than 7000. After watching an advertisement for one person, it leads to only 12 Talk to your target audience. · This idea is connected to focus on the needs of the target audience. But more connected with your advertisement. Lecture tone should not be used in your advertisement. The person who reads the public with the announcement should be connected with the person and the person who has seen it. Do not focus January 2019| 28

31. About the Author Mr. Krishnakant Panchal Mr. Krishnakant Panchal is the Founder CEO Founder CEO and Research Services Research Services. He is young, enthusiastic and most innovative in the field of Market Research. Rushi Market Research Services is a Marketing Research and Consultancy firm, incorporated in 2012, with T eam and Expertise to provide the best Market Research Assistance to the companies of different Sectors. of Rushi Market Rushi Market Mr.Krishnakant Panchal is having more than 16 years of experience in the field of market research and analytics. Since the inception, we are continuously striving for the best quality and it has resulted into improving our abilities to better understand the Market and its affecting factors in terms of psychological, conceptual, cultural and social issues that hinder the growth of the company. The company has spurred its image so friendly in the market and has covered major cities not only in Gujarat or India but across the globe. |January 2019 29

32. regional conversions. After a while, the percentage of ads becomes more robust than the usage reach a target audience in a short time range and to a younger age group. In this way, it can be difficult for effective advertising to properly balance the frequency and reach. Grow in your budget · Most business people should spend 2 to 5 percent of their annual income for advertising. The advertising company helps you to get a better return from your money through different means in your budget, by being more interested in the budget you have offered. You can spend more on advertising rather than worry about compensation. Reaching the message of Rebranding or changing to the target audience · After some time passed, many businesses are branding them again when they change their message or mission statement. Rebranding needs to change the gift of wrapping on your company’s product or services. It is very easy . To get a failure after changing its brief name, it takes the responsibility of reputable and well-structured advertising agency to ensure that it is critical that your current target audience join you. Searching the suitable channel and medium:- · You know who your target audience is, but how you can reach them. And studying demographic research is very important to understand when and where your target audience is, to help control your costs and reduce costs, your ads will reach people only when people see it. A reputed and experienced advertising agency has done this work for you only, which helps deliver your ad to the target audience with ease. Make better search rankings · There has been a lot of change in today’s world since the previous world. Today’s world has become a digital one. The Google search engine is using more and more people, so where are you on the ranks. It’s all up to you to understand its strategies, geographical and other ways. Balancing of frequency and reach:- · One of the best decisions for businesses is that one of the older beliefs of the age group by advertising is to January 2019| 30

34. 1 1 HIGHLY RECOMMENDED MARKET RESEARCH COMPANIES2019 THE TechSci Research: Taking the Global Center Stage Karan Chechi Research Director W platform. Businesses are moving at a rapid pace in their bid to survive the fierce competition. While a few decades earlier, the energy and mining companies dominated the business world, today tech companies are ruling the business fraternity. Weaving the Success Web Having global footprints with offices in the US, UK, Canada, and India, TechSci Research is a global research- based management consulting firm offering market research and advisory solutions. It serves over 700 global clients with more than 600 premium market research studies spanning across different verticals. Over the decade, it has delivered high-quality off-the-shelf market research syndicated reports that have helped firms to cement themselves and increase their market share. Working across a broad range of industries such as Water & Water Recycling, Automotive, Telecom, Retail, Consumer Electronics, FMCG, Semiconductors & Electronics, and Power to name a few, the company has successfully managed to stand tall in the global arena. ith the turn of every decade, the business world has taken gigantic progressive steps that have changed the dynamics of business at the global “Embracing change is the first step to continual success” The parameters that define the existence of any business are variable and keep changing along with time, hence, understanding and incorporating the changes within the due timelines is what keeps the businesses afloat. A comprehensive market research takes the spotlight in analyzing those parameters and plays a pivotal role in creating the road-map of any business. As business experts define it – market research is the easiest and simplest way to keep up with the latest trends that are active and in use in the market. Reaching out to the target audience or catering to a niche market is becoming a real challenge with the emergence of new players, startups and established players who are expanding their market share. Embracing innovative technologies and exploring the in- depth expertise of the team, TechSci assists companies in identifying new market opportunities, growth engines and innovative ways to capture the market share. As a competent alternative to traditional research techniques, apart from delivering data and knowledge, the company showcases the insights in a more usable and interactive format to their clients. Leading organizations are using January 2019| 32

35. TechSci research’s reports for meeting their strategic business goals and making informed business decisions. The company feels overwhelmed and takes pride in assisting brands and companies to evolve through its research insights and acknowledges it as a huge incentive to be a major contributor in the research industry. mentionable awards are listed: Top 10 market research company in India – Silicon India · Best market research & management consulting service - Wafisilpa Entertainments · Best place to work - world marketing congress, 2016 · Applications of research award · Business-to-Business research award · TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. The company is committed to assisting customers worldwide with their unique market research needs by providing them with comprehensive, value-added solutions and professional market intelligence services. In addition, TechSci Research also delivers a plethora of custom research-based consulting services to clients worldwide. Starting from market exploration, new product development, market entry strategy, and competitor analysis the list goes long. A Note for the Newbies With the global expertize and business acumen, the company has a piece of advice for all the aspiring entrepreneurs and budding start-ups. “Do what you have set out with total dedication and resolve. All roadblocks initially are a part of the learning process and help pave the way to success. Ensure that whatever you have set about to do is for the betterment of humanity, and lastly, as they say, there is no substitution for hard work.” The Prudent Leader As the Research Director of TechSci Research, Karan Chechi has redefined the concept of market research and has been instrumental in transforming the company. As a seasoned market research and consulting professional, Karan has spearheaded to play a substantial role in putting TechSci Research on the world map. Specializing in creative and innovative strategies and methods of new market penetration, new product development, and product introductions, Karan carries over a decade of experience that has fuelled his motivation in accomplishing numerous milestones. Future Outlook Keeping an optimistic outlook for the future, TechSci Research plans to focus on increasing its custom research offerings and also strengthening its footholds in the consumer research space. Alongside, it also intends to increase the set up for helping brands venture into foreign territories and set up new international offices. “ His business acumen coupled with research and interfacing with customers gives him the ability to spot new market and product opportunities. He is an avid speaker in various global conferences such as mec/pmv live 2016 in Dubai, Assocham Cosme India event 2017, Nanotechnology Awards and much more. His specialties include - custom market research, syndicated research reports, online panels, data analytics, business intelligence, Salesforce, SPSS. To deliver quality market research and consulting services in hard to reach targeted markets and become the most trusted partner for research based advisory services Awards & Recognitions – Adding Glory With the influx of technology, competition has increased manifolds as today’s clients are much more aware and educated. Over the years, TechSci Research has been successful in gauging the requirement of the consumer and to remain relevant in the eyes of the consumer along with identifying their key-pain areas. These strategic approaches have garnered various awards and accolades that have added numerous feathers in their cap! Few of the “ |January 2019 33

36. DATA ANALYSIS Tools to Dig into DATA January 2019| 34

37. Decoding Data Decoding Data D ata Analytics (DA) is the science or method of analysing data using certain tools and techniques to produce a piece of information that can be used for business gains. So the tools and techniques that help assist with these analyses are called the Data Analytics Tools. These DA Tools are used by businesses to collect process and interpret data related to customers, business processes, market economics or practical experience. Data is categorized, stored and analysed to study purchasing trends and patterns, define actionable items and facilitate decision making. Defining Data Largely DA Tools deal with two major types of Data – Quantitative and Qualitative.Quantitative Data is numerical information and is expressed in numbers and figures which require statistical techniques for analysis. For example, user experience on a scale of 1 to 5. Qualitative Data, on the other hand, consists of words and uses narration to describe data. |January 2019 35

38. For example user experience to describe the takeaways from a seminar. To collect data for analysis, one needs to start by defining the questions that should be clear, measurable and precise. The next step to define as what and how to measure the collected data and includes parameters like time-frame, factors to include, demographics etc. Finally, come the data analysis part wherein various tools are used to decode the data. Choosing the Tools DA is riding high on the technology wave and many tools are available in the market that assists businesses in digging meaningful data. Some tools are free and very easy to use for all while some are paid and require some skill set to operate. Here are some of the most popular DA Tools that most companies and professionals rely on. Microsoft Excel – Microsoft Excel does do more than just maintaining Database and is very popular and one of the most-widely used DA tool. Additionally one needs Excel to support other DA Tools as well. The basic version is pivotal when analytics of the client’s internal data is required. It can easily be used for summarizing, filtering, preview, visualising data. Add-ons like Excel Solver bring even more quality to the optimization of data. Moreover, Excel is compatible and easily available and doesn’t require special installations. QlikView – QlikView, with its patented technology and in-memory data processing has many unique features. Its fast data processing, storage of data report, automatic data association, and data compression features are finding favour with many users. Using colour schemes, it offers visually enriched and colourful data relationship visualization. R – R is a widely used statistics and data modelling DA Tool. It can manipulate data and present it in different ways. Its ability to compile and run on various platforms combined with the capacity of handling huge data is making it even more popular. R also provides users with tools to automatically install all packages as per requirement. These tools can also be well assembled with Big data. Splunk – Splunk initially started as a tool to process, analyse and search machine log files data but now it does more than that. Its web interface is very easy to use and its visualization feature is one of the finest. It enables users to pull text-based data, search through it in a simple way, perform statistical analysis of the data and present it in different readable forms. Tableau – Tableau is an easy to use, free DA software Tool that provides cross data source connectivity be it Excel, web-based data source, or Data Warehouse and more. It can then be used to create data visualizations, dashboards etc. with real-time updates that can be presented over the web. The user can also share the resulting visuals over social media and the files can be downloaded in different formats. Similarly, many more data analysis tools are available which can be used by businesses and professionals for handling and exploring data. One can choose and use the tool that best fits their requirement and leverage data for business decisions. -Sneha Sinha January 2019| 36

40. CHANGING FACE HR A B O U T T H E A U T H O R Department OF THE Falguni Sheth knowledge, expertise and focused approach have shown improvement in saving on manpower cost, employee retention ratio and implementing policies in the organization. She has deep subject knowledge and her involvement with the assignment has resulted into absolute successful completion of the HR Manual. Falguni Sheth has played a very vital role in establishing HR systems HR systems in New Horizon New Horizon . Her T The HR department that exists today acts like a strategic partner and contributes to a great extent in growth of organization. The task handled by HR department are Manpower planning, finding out right resource at right time at right price through most cost effective way, Retaining talent, Designing innovative compensation pattern, Performance Management Systems , Workable HR Policies, Continuous upgradation of skill through various training, Reward Plan and smooth exit process other than routine attendance & payroll Management which are mostly technology driven. he role of HR department has completely evolved over last decade. Traditionally it was called as Personnel department where by a normal even an undergraduate person will do basic time office activity like maintaining attendance and doing joining formality of all new joiners. January 2019| 38

41. t n i o p d n a S t C X O Falguni Sheth New Horizon Falguni Sheth Each of these module itself is challenging to handle, lets us understand why ? 1. Hiring Right Talent: Wrong hire is more expensive than No hire. I would say it’s a history when Owners used to get bunch of application just on mouth publicity of required people. Today multiple source like giving advertisement in newspaper, tie up with placement Agencies, Internal Employee referral , advertising on Job portals are also at times not successful or sufficient in finding our Employable 100 % fit resourse.The amount of time just to find a candidate, Negotiation for salary, reference check, and joining time ..all this takes more than two months where as a person who has resigned gives only one month notice period. Many companies have started keeping notice period as per grade. |January 2019 39

42. 2. Employee Retention: Gone are the days when employees would consider job as their lifetime commitment. Now a day even three to five years tenure is considered as wow. I feel concept of 4 C’s i.e. Compensation, Culture, Clarity and CareerPath are key to retain employees. Many times absence of even one of this can cause you loosing very good employee. 3. HR Policy: The very basic policy like Office timing and leave policies are designed and implemented correctly, can lead to big time productive change. The concept of allowing paid leave has lot of time a big question to decide a benchmark whether to follow respective industry practice or what is as per statutory compliance as this directly affects employee morale. With rapidly change in time there are so many new leave has been given which is not at all obligatory on Employers like paid paternal leave, family demise leave, birthday leave, wedding leave etc. Other policies like Data security , IT policy like not surfing on online shopping portals, job portals during office hours are a must and if not adhered than big time deviation. 4. Compensation Plan and Benefits: A ideal compensation plan has to be meeting industry standard, income tax friendly, complete compliance proof and retention tool as well. A employee does not get motivated just by monthly salary so few of variables which are performance linked or tenure linked is highly advisable. Designing salary component one has to be very proactive to avoid all indirect burden of statutory obligation which is applicable from day one but payable during tenure or post resignation. If the same is planned smartly Employer can save huge manpower cost. A proper mix of correct salary , variable and other benefits will surely retain right talent. 5. Performance Management System: Many companies’ follows different Appraisal System like 360 degree, Bell curve, rating thru PMS software etc. Not to miss the latest one through AI (Artificial Intelligence).This are different terms used. But what is generally observed that the basics are missing .The company is not clear what to expect from which position, how to convey expectation, how to monitor, and how to convey feedback of performance. Entire process and review mechanism has gaps and then the outcome is disaster either in terms of resignation of an Employee or somewhere no genuine connection between performance and increment. 6. Reward and Recognition Plan: As mentioned earlier Employee does not get motivate by monthly salary. At times even if employee has done some good work it is forgotten by next increment or at times it does not really quantifiable for appraisal for eg.taking few responsibility in absence of co employee being absent. At such occasion Employer have to have a well designed Reward plan which specifies different criteria, frequency, and budget to constantly motivate employees and to get best efficiency. 7. Exit Process: Whether the exit is because of resignation or termination, its little tricky to handle to keep overall environment healthy. To have complete handover peacefully, computing legal dues, releasing clear service certificate, settling new joiners is not easy specially at times employee just disappear or stop reporting and send a simple resignation on mail. In big company if the same happens with prior intimation the joining of replacement and relieving old employee always has a gap so again it asks for a innovative solutions every time. The above are some main focus areas for HR dept to perform other than routine activities. Business owners or companies have realized the need to invest in HR department and to hire perfect talent to take company to next level else forget about growth but even survival will be difficult if HR department will not be able to drive entire organization. January 2019| 40

44. 1 1 HIGHLY RECOMMENDED MARKET RESEARCH COMPANIES2019 THE Verace Market Research Mining Data to Empower Business Decisions Ananth Nagasamudram Founder & MD D strength and weaknesses. A wrong analysis of data can create a lot of trouble once the decision is implemented. So it is often considered as a best practice to leave data to the experts. ecisions have the capability to make or break a business. A business decision is made not on whims but by considering the vision, mission, positioning concepts, consumer buying behaviour and achieving full organizational potential. His role sees him set and evolve the strategic direction for the company and its portfolio of offerings while nurturing some strong individuals who drive its execution. Apart from work, he enjoys playing squash and badminton, is an avid reader and enjoys literature and listening to Carnatic music in his free time. Verace Market Research is one such data expert which was started in 2007 with one idea to bring accurate insights to all those seeking to understand their product or services better. The company has a passion for extracting meaningful data among the dearth of information we have at our disposal. Their motivation is simple; ensuring that through research, they can help businesses make decisions faster and better. Varied Services for Varied Clients Verace specialises in both Qualitative and Quantitative research based on the requirements of the study. It believes in cutting-edge reporting and information that is actionable and can be used to gain market share. It offers services that are not limited to: 1. Experience / Satisfaction/ Loyalty · Sales / Service Experience Study · Customers – Benchmarking and Loyalty Programs (Product, Sales and Service Experience) · Dealers – Benchmarking and Loyalty programs 2. New Product Development · Concept to cash – From Illumination to evaluation · Product Clinics – Styling, Dynamic and peer group Clinics A Well-versed Leader Ananth Nagasamudram is the Founder and Managing Director who has driven Verace into the era of global consumerism. He has over 20+ years of experience in the market research domain. Prior to Verace, Ananth has had a wide array of expertise in areas of go-to-market strategy, market insights, competition analysis, pricing strategies, January 2019| 42

45. 3. Communication Development · Brand health Monitoring · Communication development and Evaluation 4. Market Development · Market Entry Strategy · Strong and Weak market evaluation for Share gain · Competition tracking Ananth believes that the millennial generation is brimming with so much potential that they can accomplish any task they put their mind to easily and effortlessly. But impatience has grown, people want results faster and they want them now. His advice for budding start-ups would be to keep the faith. He says, “If you truly believe in an idea, you have to persevere and go through the dark days where it seems like nothing is possible. Getting through the drudge is the tough part, everything eventually comes together.” Growing with the Industry Reminiscing about the changes that have made Market Research in vogue today, Ananth says that the market today is not what it was twenty years ago and in today’s scenario everything changes in a heartbeat. Finding information is not a difficult task, but what is difficult is to mine meaningful data. Market research assists a product during its journey from inception to sale. It helps analyse what goes on inside the head of a consumer at every step of the pre and post purchasing process. In today’s dynamic and fast-paced market environment, having meaningful data is crucial. Market Research helps to extract the data which can be crucial for decision making and pointing people in the right direction. So, market research is an essential tool that can shape a company’s progress if used correctly. Future Reports Verace is a futuristic company and Ananth wants to keep with the changes in the industry and constantly innovate to bring better customer satisfaction. The company wants to completely automate the research process so as to achieve higher gains in shorter spans. The idea is to reduce the turn- around-time per project undertaken. It is also looking to diversify its interests. Ananth says, “As a company, we want to place our bets on technologies such as AI which have great potential in today’s technology-driven world. Our venture looks to make the process of conducting research easier and more robust to ensure valuable insights are extracted with the help of technology.” “ Verace helps business to analyse minute changes and arrive at a decision which minimises risk and increases the top line. When one has correct information, making decisions and implementing changes becomes easier. Verace helps in charting this path and tapping into the full potential as an agency becomes a much easier task than comprehended before. It also makes complete and calculated use of technology to enhance the business and increase revenue. It has always embraced technology and stayed with the times to ensure steady growth and streamline its services better. verace.com / verace.co.in We have recently ventured into the realm of AI to change the Market Research domain and change the processes which have consumed valuable man-hours Employee at its Core Verace acknowledges its employees are its core and that they build the brand along with the clientele. It keeps employees motivated by ensuring that they are in a stimulating environment doing what they love to do. Once the motivation is intrinsic, the work gets done automatically. But, ensuring its consistency is difficult. Verace creates an environment where the creative ideas flow and are not restricted. It promotes a culture of acceptance, where every idea is respected and every individual is given opportunities to charter their own path according to their needs. It enables its employees to become the best versions of themselves. Mentoring the Millennials “ |January 2019 43