Services Rendered by the Qualitative Market Research Companies in India

Posted by Coral Research on December 9th, 2016

When it comes to market research, it is one of the most important factors, as far launching any new products or services are concerned. The companies need to analyse the prospect of a particular product even before they start the manufacturing process. The idea is to ensure that the planned product would be accepted by the customers and it would contribute towards achieving the bottom line for the company, which is revenue. There have been multiple instances when a product was launched with a bang; however, after a certain period of time, it simply vanished from the market. This is something which is absolutely undesirable. Companies invest a huge amount of many and workforce when it comes to manufacturing a new product along with the promotional and advertising expenses. It all becomes useless if the product or the service fail to sustain in the market for a considerable period of time

When in India, here we have a volatile market which is marked by the open economy. There are multiple manufacturers and suppliers of the same kind of product, therefore, in a country like India, it is necessary to carry out a thorough qualitative research prior launching any product.

What are the Reasons which lead to the failure of any Product or Services?

There can be multiple reasons which are responsible for a setback for the companies when it comes to new products. These are the reasons which form the basis of a qualitative research

• No Demand: A product might fail because there is not enough demand in the market. This is the first important aspect which needs to be taken into consideration during a qualitative research.

• Competitors: If there are multiple competitors on the same line of product, then the chances for the product to fail is quite high. Those companies who have already established themselves in the market would be very difficult to deal with unless the products are much better than that of their in terms of quality. Besides, it requires an extensive marketing mechanism which can be very expensive

• Low Quality: There could be sufficient demand in the market; however, because of the inferior quality, the customers would invariably reject the product. The open market factor comes into play here, where there are many manufacturers and suppliers available. As a result, the customers don’t have to depend on any particular producer.

• Lack of Advertising: Proper advertising forms the basis of success for any product or service. When it comes to a new product, it is very important to make sure that it is being highlighted as much a possible and is being brought to the notice of the target audience. Lack of proper marketing strategy and a bad marketing mechanism would invariably result in the collapse of a product or service; especially one which is newly launched.

• Utility: Customers pay money to yield maximum utility out of a product or service. If they find that their requirements are not met, they would straight away reject it

• Packaging: This is an age where everything needs to be attractive and appealing. The consumer needs to be pursued by the sheer look of the package. A dull packaging can result in the fall of demand

Apart from these, there are various other reasons which contribute towards the failure of a particular product or service.
What are the Services Rendered by the Indian Qualitative Research Companies

When it comes to the Top Qualitative Research Company in India, there are many options available. These companies render an array of different types of services, here are some of them

• Customer Feedback: They would carry out extensive surveys and let you know about the feedback received from the targeted audience
• The Motivating Factor: They would let you know what motivates the customers to go for a particular product or service
• Designing and Branding: They would offer you valuable suggestion in terms of branding and designing
• Demand: After carrying out extensive research, they would let you know if there are any demand for the product or service which you are planning for

Besides India, in countries like UK and Singapore, the services of the Qualitative Research are used extensively

Author’s Bio: This article is composed by Bipasha Lal, who has been working in Qualitative Research Company in India