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Market Research plays a pivotal role in determining the success of many businesses. The importance ranges from estimating the market size, assessing the market share of key competition players, understanding the market potential for a specific product or service and extends up to endless objectives. Applying market research methods and tools will yield measurable results on conducting a market research study.
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ARROWPOINT-MARKET RESEARCH AND INSIGHT SOLUTIONS Outsourcing Market Research & Why India?
Outsourcing Market Research & Why India With a scenario of fast paced growing economy and competitive global market environment, it becomes imperative for all sized businesses to have thorough knowledge of the business they are dealing with including the characteristics, the capacity and the expected threats. Such comprehensive knowledge aids a business to understand its consumer better, know their expectations from a specific product or service and gain an insight about the demand and supply ratio prevailing in the market. This in turn helps the businesses to effectively compete with their competitors, stay ahead and retain their undisputed position. As gathering all such information was not possible for many businesses, the need for skilled and trained professionals gave rise to the birth of market research companies. Organizations started finding it beneficial to outsource market research activities to specialized firms. These specialized firms started offering specialized market research services such as online surveys, business research, business intelligence, opinion studies and more. The market research companies with their team of talented professionals are able to guide the respective businesses in various areas such as market knowledge, competitors and business prospects. The market research companies are said to provide complete guidance with authenticated reports, data processing and analysis at an affordable cost.
Why India is the preferred destination for outsourcing market research? As per ASSOCHAM, the projected market for knowledge based outsourcing was predicted to be US$30b by 2015. The main factors that attract companies to outsource to India are – 1. India has made a strong position for itself on the global outsourcing map by catering to almost 70% of the global intellectual outsourcing industry. 2. Availability of talented, experienced and skilled professionals capable of handling any complex project makes India a favourite destination ofoutsourcing in Market Research. 3. Indian market research professionals are known to have technical, scientific and analytical expertise in their domains including the ability to carry on high end research. 4. Majority of the Indian market research professionals working in market research companies have acquired degrees from established and premier institutes making them the most sought after researchers. 5. Reduction in costs and increase in savings as costs incurred in India are comparatively lower of what they could be in US or UK.
The below mentionedmarket research servicesoffered by outsourcing services providers in India offer a clear and complete understanding of market niches to companies helping them particularly while taking critical business decisions . Some of the prime services offered by the market research companies in India include – • Online survey • Business research • Consumer research • Lead Generation • Data Processing • Primary and Secondary Market Research • Quantitative Research • Qualitative Research and more.. • Apart from the above factors, international market research along with cost affordability, exact and accurate research are the key factors why India is the ultimate and preferred destination when it comes to outsourcing market research.
