SUMMER

INTERNSHIP
AMAN JAIN
REPORT 185 KD, MBA (IB), IIFT 20-22

May 2021 – June 2021

About the Company

Bizwit Research & Consulting is a global provider of business intelligence &

consulting services. They are a provider of market research reports, which
includes both syndicated as well as customized reports. They have a strong
primary base of key industry leaders along with the chain of industry analysts
to analyze the market trends and its future impact in order to estimates and
forecast different business segments and markets. They incorporate big data,
expert analysis, and huge industry database to deliver client focused business
consulting Their team evaluates the market size, growth prospects, end-use,
applications, value & supply chain and top vendors in the industry to help the
clients to take conversant business decisions without any vague assumptions.

Their portfolio covers a wide range of industry reports, primarily covering

industries such as Healthcare, FMCG, Information & Communication
Technology, Chemicals & Material, Energy and Petroleum.

Location: Indore, MP

Industry: Market Research Firm

Mentor: Mr. Himanshu Chouhan, Senior Research Analyst

Objective of the Project
The project involved creating a syndicated market research report for global rice
bran oil market. It involved primary and secondary research, data mining and
cleaning, generating insights, market estimation, analysis using framework, data
validation, feedback gathering and report publishing.

Role and Responsibilities as a Market Research Intern

• Responsible for executing market research for consulting and research
projects in FMCG domain
• Performed both primary and secondary research and generated key insights
for the research report
• Decided on entry strategies, competitive landscape, and product
positioning
• Formulated strategies, critically make strong business case in terms of
identifying gaps and opportunities for clients
• Interviewed key opinion leaders and identify the unmet needs in the global
market (North America, Europe, APAC, and RoW

Research Methodology
The research starts with the extensive procurement process of
data/information and statistics from company annual reports, government
websites, statistic agencies and paid databases. This information creates a base
for the study. This information also helps to define the scope and to narrow down
the area for study for the market. This raw information is processed and analysed
to extract crisp data points which currently affect or are likely to affect the
industry over the forecast period. In primary research process for data mining,
various key industry participants from both supply and demand side are
interviewed to obtain both qualitative as well as quantitative information on the
market. In the process of secondary research, various sources are referred to
identify and collect industry trends and information for the research process. The
access to some of the most diversified and extensive paid databases which gave
me the most accurate data/information on markets sizes, products and pricing.

After analysing the information, a proprietary market estimation & forecast

technique is applied, which generates the quantitative figures/sizes of the
market/sub-segments in the current scenario as well as for over the forecast period.
After populating the market sizes & estimates, numbers are verified with the
industry participants and key opinion leaders. The wide network of industry
participants performs a value addition in the research and verify the numbers &
estimates of the study. In the last stage of the research process, a final report is
prepared which is then published in different websites as well as distributed
through various channels.

For forecasting the current estimates, following parameters are considered:

▪ Market driving trends and favourable economic conditions

▪ Restraints and challenges to be faced over the forecast period

▪ Anticipated opportunities

▪ Technological scenario and projected developments

▪ Consumer spending trends and dynamics

▪ Movements in consumer preference

Key Learnings from the Project

• Collaboration with different team members and other stakeholders to

ensure smooth implementation of strategies and completing projects
• Hands on experience and in depth understanding of the market research
industry

• Implement the business research methods into the practical work in order
to get quantitative results

• Interpersonal skills while interacting and communicating with industry

experts and leaders

• Peer learning through fellow interns in the project and company