The Indian marketing research industry is vast and expansive; however, it is in its nascent stages. It requires proper channelization of market operations to take the industry to greater heights. The marketing industry calls for a wide market research and expertise, which the Indian corporate market lacks. The organizations in the marketing industry are all target-oriented and the various marketing facets get ignored. The Indian corporate market is also suffering from the downgraded MR/Insight services. Realizing the extensive cracks in carrying out accurate market research operations and other marketing related services, MRSS India joined the race of market research business operations in the year 2012.
MRSS India initiated their market operations not only to stretch out the parent company, Majestic Market Research Support Services Ltd which is operational in various Asia Pacific and Gulf countries, but also to deliver pioneering service in market research. Headquartered in Mumbai, with presence in Delhi and Bangalore, MRSS commenced their market operations with company strength of four employees and soon grew to become a 60 employee strong organization. The company works with a varied and ground-breaking approach where they visualize themselves as a client-oriented organization than being restricted only as a target-oriented organization. Sarang Panchal, Managing Director, MRSS India Ltd explains, “Most MR Agencies merely ‘SELL’ their products because they have targets to meet. We have a different orientation – we exist because of our clients so our approach and relationship is totally different. MRSS is India's first and only listed market research company and has some of the most sought after companies as clients and partners.”
MRSS India works with a varied and ground-breaking approach where they visualize themselves as a client-oriented organization than being restricted only as a target-oriented organization
While initiating the company, MRSS faced the challenge of sinking their feet in the industry. The challenges subsided when the various business houses comprehended and started gravitating towards MRSS’s specialized services. Working with a vision to be “India’s largest Independent market research
firm before the end of decade” the company is of the opinion that their pioneering services not only helped them overcome their challenges, but also made them inimitable and novel in the market.
Being client-oriented, the company serves keeping their clients in their minds and provides conventional services in a very proficient and resourceful manner. Their accomplished services have made their clients resort to their end to end services which involve layers of processes – observing and comprehending their consumers’ psyche, carrying out explicit and implicit market research, neuroscience, neuromarketing, emotional analysis and social commerce.
In terms of implicit research, the company involves a number of techniques namely eye tracking, mobile analytics, voice analysis, face analysis, digital tracking, automated audience measurement and neuroscience.
Utilizing Neuro Marketing, the company gets to know the brain process in the consumers’ sub-conscious minds.
Employing Cloud-based Emotional Analysis, MRSS measures the emotional reactions of individual consumer towards commercials.
Social Media works to monitor the clients’ end to end online activities in the company’s website and helps the company keep track of every activity even when they are offline.
Helping clients gain from their international standard and impactful services, Majestic MRSS is planning their expansion which will involve the inflow of bigger capital investment which they will utilize in framing new sectors of the company, BETA testing and in upgrading the existing sectors. With confidence Sarang concludes, “We will eventually be the go to company for all high end and new age digital research.”