PROJECT REPORT ON INDUSTRY ANALYSIS

OF
Marketing and Development Research Associates (MDRA)

SUBMITTED BY: SUBMITTED TO:

Varun Kumar Prof. Vibha Arora
Enroll: 19BSP3167
Section-D
 Introduction

Market Research Industry

The market research industry has grown to over $10 billion worldwide, currently experiencing
an average 5% annual growth rate. Market research analysis can be dissected in myriad ways
such as research categories that include customer satisfaction, advertising effectiveness,
product development, price elasticity, or developing a market forecast; by population, with
consumer research versus business to business market research; or by industry.
Market research Industry is one of the emerging sectors in India. The estimated size of the MR
industry in India is around USD 110 million (approximate INR 500 Crores). This includes research
done internally by some clients’ having own inhouse facilities. The split by Customized and
Syndicated research would be broadly in the ratio 60:40 respectively.
Market Research in India is about 3 decades old, with just 2-3 key players in the first decade.
The second decade saw the emergence of more MR companies owing to growth opportunities.
Today there are about 15-16 main players in the Indian market research industry. The key
players in today’s MR industry are: ACN –ORG-Marg, IMRB, TNS,Synovate,Indica, Quantum
Market Research,Research -International. MR in India has grown over the years and moved
towards becoming an industry from a craftsmen’s guild. Research products have become center
stage – Rate of Growth annually was about 12-15 % before there was a recession period in the
early 2000. However, after this stagnancy in the early 2000 period, currently it is growing at the
rate of about 18-20 % per annum.
Marketing and research companies can be divided into three categories:

 Market research associations that promote the industry

 Market research suppliers of syndicated or secondary research
 Market research firms providing custom or primary research
Market research helps companies in various ways such as:

 Getting it right from the Beginning-Getting off to a strong start will be on the top of the
company’s objectives. Researching all the basics helps you in making smarter, informed
decisions for the business.
 Beating up the competition- checking out your competition helps in uncovering the
potential opportunities for your business to improve.
 Market research is an organized effort of collecting information about various market
needs, market size & Competition. It is also used to provide information to both industry
and consumers according to their respective needs. It is a systematic way of gathering
 and interpretation of information using various statistical and analytical tools to support
decision making. Research is attempted to help take care of particular issues as well as
to help recognize issues that are not really obvious at first glance but then exist or are
probably going to emerge later on.

Market Research uses two types method of obtaining data:

1. Primary Method
2. Secondary Method

Company Profile
Marketing and Development Research Associates (MDRA) is a premier marketing research and
consulting organization in India with focus on quantitative and qualitative research. We provide
strategic business planning solutions based on research findings and historical data analyses of
our clients’ business. Over the years, MDRA has strived to help organizations bring vital market
data into their strategic planning processes in order to improve customer satisfaction and
enhance competitive advantage. Our research provides an in-depth insight, which helps
companies in knowing the market and their customers better. MDRA is proud member of The
Market Research Society of India (MRSI)

The Company has got expertise in:

 Customer driven research tools that capture the voice of the customer
 A process of translating research information into a clear action plan
 Helping clients integrate required actions with strategic and organizational priorities
 Adoption of unique and custom-designed methodologies to address the needs of
companies in the complex and globalized current market scenario

Types of Surveys conducted by the company:

● Household Surveys

● Corporate Surveys

● Institutional Surveys
The key areas of research are:

● DEL (Defection and leakage) Analysis (MDRA-Proprietary)

● Market Structure and Segment Analysis

● Advertisement and Brand Effectiveness Research

● Consumer Research

● Industry Rating and Performance Studies

● Customer Satisfaction, Retention & Loyalty Studies

● Customer Value Measurement

● Market Potential Assessment and Demand Estimation

● Market Strategy Formulation and Implementation

● Product & Pricing Related Studies

● Impact Assessment Studies

Opinion Polls/ Exit Polls and Election Analysis

MAJOR COMPETITORS OF MDRA

• Kantar IMRB
• Nielsen
• Drshti
• Hansa Research

SWOT analysis of MDRA

A SWOT analysis is a strategic planning technique used to help a person or organization identify
the Strengths, Weaknesses, Opportunities, and Threats related to business. It helps a firm to
have awareness of its environment, grab opportunities, tackle threats and thereby ensure its
survival and success.
Strengths – it includes the internal components that give a business an advantage over the
competitors.
• Brand Image in media surveys
• Project execution at minimal cost
• Outsourcing
• Experts in C-SAT surveys

Weaknesses - it includes the internal components that put a business in a disadvantage with
the competitors.
• Less human resource administration
• Infrastructure
• Minimal capital
• Weak management
• No expertise in FMCG

Opportunities – These are the external elements that a business could exploit to its advantage.
• Big Data
• Research projects in Retail, Automobile, FMCG sector etc.

Threats – these are the external elements that could cause trouble and affect business in a
negative manner.
• Attrition rate is high
• No corporate tie-up
• Data privacy is low

Porter’s Five Forces Model

1. Intensity of rivalry among competitors – The intensity is high in the following cases
 When the number of players is few (oligopoly)
 When the market growth is slow
 In case the exit barriers are tough
 Customers have low switching cost

In case of MDRA, the competition is intense from Global as well as from domestic competitors
as all the factors mentioned above hold true except the one of market growth. A little scope is
that the market growth is at a good rate which reduces the intensity to a certain extent.

2. Threat of new entrants – Entry of new competitor in the market weakens the power of
the existing firm. The threat of new entry is high in the following cases
 The capital required to start the business is low
 The key technology is not difficult to acquire
 The product is not differentiated
  The switching cost is low
 The market is expected to rise rapidly

In case of MDRA, the threat to new entry is neither very high nor very low. Big houses business
houses are entering into the market. Since there is no barrier to entry, MDRA does face a niche
part of threat. The threat arises on the basis of profit margins which further depend on the
accuracy of solution provided or the effectiveness of field team.

3. Threat of substitute products/service – The threat is high in the following cases

• When substitute products or service are available
• Customers can easily find the product or service at same or lower price
• The quality of substitute is almost similar to the quality of existing product

In case of MDRA, even though there are many projects successfully completed through
well planned research. The company till date does not have high threat of substitutes because
they provide services and database at effective prices.

4. Bargaining power of customers - It means the extent of control which a customer has to
drive down the prices of the end product. The bargaining power of the buyer is high in the
following situations
• When there are few buyers chasing to too many products
• When the product is purchased in bulk
• The product is not differentiated
• When the switching cost of the customer is low
• When the buyers are price sensitive
• When customer integration happens

In case of MDRA, since the company has a competitive pricing of its services with less
substitutes, it has a higher edge over the buyers. It has loyal clients and price sensitive
customers who are willing to get the services.

5. Bargaining power of suppliers – It means how strong the position of a company is in

negotiating with the supplier of raw materials. The power of supplier is high when
• When the number of buyers if few or they are concentrated and well organized
• If the company is not an important customer
• There are few or no substitutes available of the supplied raw material • If the switching
cost of one supplier to another is high