Question

Topic: Strategy

How To Start A Market Research Division

Posted byMaximuson 250 Points
Hi Everybody,

I am a Web Researcher and involved in secondary market research providing research reports on various verticals. I have no market research or marketing background. I have to start a small Market research division in a Indian company. So can you tell me how can i start with my basic, beginning with the operations, key points, what kind of databases, what kind of employee profile I should look for etc.

Also I would like to know about the costs involvement in setting up the MR division.

I need your valuable suggestions and ideas on this topic. Hope I will get the best solution from your grey matter.

Regards
Maximus
To continue reading this question and the solution, sign up ... it's free!

RESPONSES

  • Posted bydarcy.moenon Member
    I've set up a few online marketing resources to empower businesses to begin collecting data from customers, is this something you'd be interested in?

    Basically, I set up a dedicated web site to run focus groups, online panels, and surveys. We select a group of customers from the existing customer pools (prospective customers, current customers, and past customers) and form our groups. We then begin interacting with the groups by asking questions (in person and with surveys), we also run chat sessions, meetings, and a online forum to gather responses. We hand out assignments to our focus groups to complete, and write up reports.

    To set up, we allocate 10 to 20 thousand dollars, depending on what information we want to gather and how big a sample pool we need to form. Costs also depend on how long you run the groups and how much information you want to gather. Some projects have run into the hundreds of thousands of dollars in costs.

    Darcy Moen
    Customer loyalty Network
  • Posted byMaximuson Author
    Hi Darcy,

    Thanks but how can your customer loyalty program links with my market research division. How can it generate revenue for me.

    Maximus
  • Posted byMaximuson Author
    Hi Paul,

    Thanks for the information you provided me. But I want you to make me more clear specifically in my case. See I am working in a Korean company (www.parkitc.comandwww.gbcmumbai.com) based in india. We offer product marketing, liasioning activities, market research services to our Korean SMB companies to establish their business in india. We give them the current idea/situation of india on various verticals like Manufacturing, IT, Equipments and Machinery etc. We market their products, planning for them to establishing their offices in india and many more. Hope you might have got my company's work profile.

    Our MR division has to provide the small reports and indian clients list database to Korean SMB companies so their easily enter the indian market.

    Also, we feel problem while creating company profiles for korean companies as they are SMBs so it is impossible to get the information on them from any paid databases like Hoovers and LexisNexis. So can you suggest me how can i proceed to create the company profiles.

    Secondly, let me know how many employees Should I hire in begining (I think 1-2 will be better in starting) and what should be their profile means they should be MBAs or any other education qualification. Also what would be their payscale.

    I am keenly waiting for your reply. And Extremly thanks for your initial input.

    Warm Regards
    Maximus

Post a Comment