arket insight is crucial for the well being and development of any organization, irrespective of which industry it belongs or caters to. Therefore it is a vital clog is policy making and strategizing. Market Insight Consultants (MIC), which is a division of Tomorrow’s Market Innovators Pvt. Ltd., is emerging as one of the premier companies in the space. Founded in 2002 by Sanjay Nagi, who also doubles up as the CEO of the company, MIC is well on its way to capture a large share of the market.
Sanjay was able to leverage his past experience of having worked closely with a number of organizations and having served as a CEO and a consultant. For him, the major motivation behind floating MIC was adding value to the clients. For the company, the goal was to formulate a role they play in policy making of clients, whereby they can have faith in replacing executive managerial roles within the organization with the market analysis being provided by MIC. Over the years, clients like Mumbai Airport and Delhi Airport have relied upon the efficiency and diligence that MIC has exhibited, and the testimony to the same is the continued and unbroken relations they have had with them since 2006.
Initially, though, all was not smooth-sailing. Being a new and relatively unknown brand, roping in clients as well as a stable employee base was difficult, and it impacted the revenues. “Our goal was to create an in-house team that understood and shared MIC’s vision.
Initially, we faced challenges in retaining our employees but by restructuring our HR policies we achieved the stability we sought,” Sanjay elaborates. MIC today has an impressive inventory of services to back their endeavors.
The company is currently focused on providing a range of Decision Support services in form of Market Access Studies, Marketing Strategy Development, Measurement of Customer Satisfaction, Market Research Services, Turnaround & Growth Strategies, Market Process Outsourcing and CSR Services.“Our services and solutions are based on improving customer and market understanding for our clients esp in a future context. Hence, our working procedures and methodologies are scientifically formulated to assist our clients, and not just employ such measures like filling out forms and presenting reports,” says Sanjay.
Accuracy and integrity are facets MIC upholds very righteously. Formulation of questionnaires and analyzing them is done in a manner that absolute accuracy is achieved. Diversity, in form of capability and track record to handle diverse industries and verticals, is another accomplishment not all of MIC’s competitors can boast of.Also, the firm has thorough implementation programs in place which do not limit their involvement to just submission of reports. It lets them assist clients with the implementation of the strategies. MIC’s work ethic has seen it work with major clients such as Ministry of Science & Technology, L&T, Caterpillar, Godrej, IIM-A, Mahindra among others.They have also worked with all five private airports in India, and are the first in the countryto create an innovation index.
MIC already has offices in Mumbai, Kochi and Hyderabad, and further expansion plans are in the pipeline.Talking of the roadmap ahead, Sanjay adds,“We are planning on adding Data Analytics and Program Management services to our existing suite of solutions. We are working out a capitalization plan to adequately invest in these related diversification areas.”