Policy Making and Execution for Electric Vehicle (EV) Sector:

 Join us as we delve into the intricate world of policy-making and execution within the Electric Vehicle (EV) sector. From regulatory frameworks to practical implementation strategies, we uncover the critical factors shaping the future of sustainable transportation.

In addition to our insightful discussions, subscribe now to stay updated on our market research, secondary and primary research findings, and policy advisory services offered by Market Research Universe.

Feel free to get in touch with us for further inquiries or collaborations. Let's drive forward together towards a cleaner, greener future.

Contact Us: 9811025630, Email: explore@marketresearchuniverse.com

For Regula Industry Analysis Videos, You can Subscribe Our

YouTube Channel @ Market Research Universe

Why India Loves Compact SUVs: A Deep Dive

India, a rapidly evolving automotive market, has witnessed a dramatic surge in the popularity of compact SUVs. These vehicles have not only dominated the roads but also captured the hearts of Indian consumers. This article endeavors to explore the underlying reasons behind India's deep affection for compact SUVs, analyzing the key factors that have propelled their popularity.

The Rise of Compact SUVs in India:

In recent years, the automotive industry in India has experienced a paradigm shift in consumer preferences. Compact SUVs have emerged as a preferred choice, amalgamating the agility of smaller cars with the robustness of SUVs. This segment's meteoric rise can be attributed to its ability to cater to the diverse needs of the Indian populace, catering to both urban and rural settings.

Major Compact SUV Players in India:

Several automotive manufacturers have made a significant impact in the compact SUV segment in India. Brands like Maruti Suzuki Vitara Brezza, Hyundai Creta, Venue, Kia Sonet, Tata Nexon, Punch, and Mahindra XUV300 have gained substantial market share. Their strategic pricing, feature-rich offerings, and brand reliability have solidified their position in the competitive landscape, catering to a wide array of consumer preferences.

High Ground Clearance and Commanding Driving Position:

The appeal of compact SUVs in India is bolstered by their high ground clearance, which is essential for navigating uneven and sometimes challenging Indian road conditions. This feature grants a sense of confidence and safety to drivers, particularly in regions where infrastructure might not be optimal. Additionally, the commanding driving position provides a better view of the road, enhancing the driving experience and instilling a feeling of control and security.

Practicality and Value for Money:

Compact SUVs strike a balance between functionality and style, meeting the practical needs of Indian consumers. With ample space, versatility, and enhanced storage options, these vehicles cater to families and individuals alike. Moreover, the competitive pricing and the perception of receiving value for money have been pivotal in driving their widespread acceptance across various socio-economic segments.

Status Symbol:

In a society where image and status are highly regarded, compact SUVs have become a symbol of prestige. The modern and stylish designs, coupled with their rugged appeal, have positioned these vehicles as a statement of sophistication and success, appealing to the aspirations of many Indian consumers.

Conclusion:

The love affair between India and compact SUVs is a confluence of factors that address the diverse needs and desires of Indian consumers. The rise of these vehicles is not merely a trend but a reflection of the pragmatic, yet aspirational, nature of the Indian automotive market.

As the Indian automotive landscape continues to evolve, the profound affinity for compact SUVs underscores the need for manufacturers to continually innovate and tailor their offerings to meet the ever-changing demands of Indian consumers. Understanding and adapting to these preferences are essential for the sustained success of automakers in India's dynamic market. 

If you are looking for market research services including consumer survey, ethnography survey, voice of consumer survey research and data analysis, real-time quantitative and qualitative data collection and analysis, market intelligence services and reports including Market Size, forecast data, future trends, market segmentation analysis, regional market share, major companies market share and competitive analysis in various sectors including Technology, Automotive, Energy and Power, Healthcare, Chemical and Materials, Consumer Goods, BFSI, Agriculture, Information and Technology, etc.  then feel free to get in touch with us @ www.marketresearchuniverse.com.

 

For more detailed analysis, real-time and mega trending market research data access, we are happy to introduce,

MARKET RESEARCH PLANET:  a Subscription Based Platform powered by Market Research Universe (MRU), offering you Unlimited Reports Reading, Downloading and Data Access from anywhere, on any device, starting now! Stay informed, make better decisions.

Why wait? Ignite your journey with a 7-day FREE TRIAL today!

@ Market Research Planet

 

For Regula Industry Analysis Videos, You can Subscribe Our

YouTube Channel @ Market Research Universe

Carbon Footprint: Impact on the Environment and Management

Carbon Footprint is the total amount of greenhouse gases (GHGs), including carbon dioxide and methane, that are emitted by our actions. When we burn fossil fuels for energy, drive cars, or eat meat, we are releasing GHGs into the atmosphere. These gases trap heat, causing the planet to warm.

Carbon footprint has a negative impact on the environment in multiple ways, including:

• Climate change: Human-induced climate change is the most serious environmental threat facing our planet today. It is caused by the release of GHGs into the atmosphere, which trap heat and warm the planet. Climate change is already having a devastating impact on the environment, including more extreme weather events, rising sea levels, and melting glaciers.

 

• Air pollution: GHGs also contribute to air pollution, which can cause respiratory problems, heart disease, and cancer. Air pollution is a major health problem, especially in urban areas.

 

• Ocean acidification: As the ocean absorbs more carbon dioxide from the atmosphere, it becomes more acidic. This can harm marine life, including coral reefs and shellfish.

 

• Loss of biodiversity: Climate change and other environmental impacts are causing many species of plants and animals to go extinct. This loss of biodiversity is a major threat to the health of our planet.

 

Here are some specific examples of how carbon footprint affects the environment:

• More extreme weather events: Climate change is causing more extreme weather events, such as heat waves, droughts, floods, and storms. These events can damage infrastructure, displace people, and cause billions of dollars in damage.

 

• Rising sea levels: As the planet warms, the oceans expand and glaciers melt, causing sea levels to rise. This is inundating coastal communities and displacing millions of people.

 

• Melting glaciers and polar ice: Melting glaciers and polar ice are contributing to sea level rise and threatening the habitats of many polar animals, such as polar bears and penguins.

 

• Ocean acidification: Ocean acidification is making it more difficult for marine life to build shells and skeletons. This is harming coral reefs, shellfish, and other important species.

 

• Loss of biodiversity: Climate change and other environmental impacts are causing many species of plants and animals to go extinct. This loss of biodiversity is a major threat to the health of our planet.

 

Importance of carbon footprint management services

Carbon footprint management services can help businesses and organizations to reduce their environmental impact and contribute to the fight against climate change. By measuring and tracking their carbon emissions, identifying opportunities for reduction, and implementing carbon reduction strategies, businesses and organizations can save money on energy costs, improve their reputation among consumers and investors, and reduce their risk from climate change impacts.

For real-time market data on Carbon Footprint, Explore our recently published Report : Carbon Footprint Management Market Research Report

Recommendations for MRU

Government bodies, corporate organization's strategic decision makers and CEOs can all play a leading role in reducing carbon footprint and mitigating the effects of climate change. Here are some specific recommendations:

• Government bodies:
  • Set ambitious targets for reducing greenhouse gas emissions.
  • Implement policies that support renewable energy and energy efficiency.
  • Provide financial incentives for businesses and individuals to reduce their carbon footprint.
  • Invest in research and development of new carbon reduction technologies and solutions.

 

• Corporate organization's strategic decision makers:
  • Set ambitious targets for reducing the company's carbon footprint.
  • Develop and implement a carbon reduction strategy.
  • Invest in renewable energy and energy efficiency measures.
  • Support the development and adoption of new carbon reduction technologies and solutions.

 

• CEOs:
  • Make carbon footprint reduction a priority for the company.
  • Set clear expectations for employees and managers regarding carbon footprint reduction.
  • Allocate resources to support the company's carbon reduction strategy.
  • Advocate for public policies that support carbon footprint reduction and climate change mitigation.

By taking these steps, government bodies, corporate organization's strategic decision makers and CEOs can help to reduce carbon footprint and mitigate the effects of climate change.

 

Conclusion

Carbon footprint is a major environmental issue that is having a devastating impact on our planet. We all have a role to play in reducing our carbon footprint and mitigating the effects of climate change. Government bodies, corporate organization's strategic decision makers and CEOs can all play a leading role in this effort by setting ambitious targets, developing and implementing carbon reduction strategies, investing in renewable energy and energy efficiency, and supporting the development and adoption of new carbon reduction technologies and solutions.

For more detailed analysis, real-time and mega trending market research data access, we are happy to introduce,

MARKET RESEARCH PLANET:  a Subscription Based Platform powered by Market Research Universe (MRU), offering you Unlimited Reports Reading, Downloading and Data Access from anywhere, on any device, starting now! Stay informed, make better decisions.

Why wait? Ignite your journey with a 7-day FREE TRIAL today!

@ Market Research Planet

For Regula Industry Analysis Videos, You can Subscribe Our

YouTube Channel @ Market Research Universe

Policy Frameworks of G20 Summit 2023: A Vision for Global Prosperity and Sustainable Growth

Analysis by Market Research Universe (MRU)

In the dynamic landscape of international diplomacy and cooperation, the G20 Summit of 2023 emerged as a catalyst for profound change. Against the backdrop of unprecedented global challenges, this pivotal gathering of leaders from the world's largest economies unveiled an ambitious policy framework, offering not only solutions to pressing issues but also unprecedented opportunities for global business growth.

Among the notable policies launched at the summit, two stand out prominently:

1. India-Middle East-Europe Economic Corridor: This corridor is a new initiative to boost trade and investment between India, the Middle East, and Europe. The corridor would include a network of railways, highways, and ports, and it would also focus on developing energy and digital infrastructure.

The corridor would connect India with the Middle East through Iran and Turkey, and with Europe through Turkey and Greece. It would be a major boost to trade and investment between these regions, and it would also help to improve connectivity and cooperation.

2. Global Biofuel Alliance: This is a new partnership between leading biofuel producers and consumers. The alliance aims to promote the development and use of sustainable biofuels, which can help to reduce greenhouse gas emissions and improve energy security.

The alliance includes countries such as India, Brazil, the United States, and the European Union. It is also supported by major biofuel producers such as Cargill and Archer Daniels Midland.

The alliance plans to work on a number of initiatives, including:

1. Developing common standards for sustainable biofuels
2. Promoting research and development into new biofuel technologies
3. Facilitating trade in biofuels
4. Raising awareness of the benefits of biofuels

The Global Biofuel Alliance is a major step forward in the development of sustainable biofuels. It has the potential to help to reduce greenhouse gas emissions, improve energy security, and create jobs

 

In addition to these groundbreaking initiatives, the G20 leaders charted a comprehensive policy agenda:

• Phasing out coal-fired power: The G20 leaders agreed to phase out coal-fired power by 2030 in developed countries and by 2040 in developing countries. This is a major step towards addressing the climate crisis.
• Providing universal access to COVID-19 vaccines: The G20 leaders committed to providing universal access to COVID-19 vaccines by mid-2023. This is a critical step to ending the pandemic.
• Investing in infrastructure: The G20 leaders committed to investing $1 trillion in infrastructure in developing countries over the next five years. This investment would help to boost economic growth and create jobs in developing countries.
• Reforming the global tax system: The G20 leaders agreed to work towards a global minimum corporate tax rate of 15%. This would help to ensure that multinational companies pay their fair share of taxes.
• Strengthening the global financial system: The G20 leaders agreed to work towards a more coordinated approach to financial regulation and supervision. This would help to make the global financial system more resilient to future shocks.

While these policies represent significant strides in addressing global challenges, it is vital to acknowledge that not all G20 members unanimously endorsed every aspect. Implementation may encounter challenges, yet the G20 Summit of 2023 undeniably marks a pivotal moment in the journey toward a more prosperous, sustainable, and resilient world. For businesses worldwide, it heralds an era of unprecedented opportunities for growth, collaboration, and positive impact.

Furthermore, if you are looking for in-depth research on policy making, market research services, survey research and data collection services, please do not hesitate to reach out to us.

For more detailed analysis, real-time and mega trending market research data access, we are happy to introduce MARKET RESEARCH PLANET:  a Subscription Based Platform powered by Market Research Universe (MRU), offering you Unlimited Reports Reading, Downloading and Data Access from anywhere, on any device, starting now! Stay informed, make better decisions.

MARKET RESEARCH PLANET's subscription offers unlimited access to invaluable market data for startup founders, executives (Directors, CEOs, CMOs, CFOs), researchers, managers, consultants, analysts, and academics (Teachers, Professors, Doctoral Research Scholars and PhD Candidates). Access trendsetting reports and databases from any device. Elevate your research work, presentations, and decision-making with real-time industry insights, encompassing consumer surveys, market sizing, trends, and forecasts across diverse sectors.

Sign up for Market Research Planet, to get access for Mega Trending Market Research Reports, as well as Startup Business Plan Reports and Community Resources. Through which, you will get access to more than 100+ Startup Business Plan Reports, 500+ Mega Trending Market Research Reports and Consumer Research Reports, 1000+ Company Profiles, and Routine updates on Industry Trends, Forecasts, and an array of other industry-specific databases.  This invaluable resource will empower you to make well-informed decisions, catering to the prosperity of enterprises of varying magnitudes, be it startups, small businesses, medium-sized ventures, or large corporations.

Getting curious but undecided? No need to worry!

Dive into a 7-day Free Trial extravaganza, immersing yourself in a world of mega trending market research reports, Niche market data bases, and startup business plan reports with new startup business  idea generation support and vibrant community facilities. 

Why wait? Ignite your journey with a 7-day FREE TRIAL today! 

@ https://www.marketresearchuniverse.com/market-research-planet

For Regula Industry Analysis Videos, You can Subscribe Our

YouTube Channel @ Market Research Universe

G20 Summit: India's Game-Changing Path to Global Collaboration and Peace"

CASE STUDY by Market Research Universe (MRU)

Welcome to an illuminating Case study on the "G20 Summit: India's Game-Changing Path to Global Collaboration and Peace."

In this case study, we will delve into India's pivotal role within the G20, exploring how the nation is driving international cooperation and fostering a more peaceful world.

But before we delve into the detailed analysis of the G20 Summit 2023, let’s begin by understanding the fundamental global issues of our time and how the G20 emerged as a key player on the world stage.

The G20 is a group of 20 major economies that meet annually to discuss and coordinate economic policies. It was established in 1999 in the wake of the Asian financial crisis, and it has since emerged as a key player on the world stage. The G20 is responsible for addressing a wide range of global issues, including the ones mentioned above.

The G20 has been successful in achieving some of its goals. For example, it has helped to coordinate the global response to the COVID-19 pandemic, and it has played a role in promoting economic growth and development. However, the G20 has also faced some challenges. For example, it has been criticized for being too dominated by developed countries, and it has been accused of not doing enough to address climate change.

Despite these challenges, the G20 remains an important forum for addressing global issues. It is a unique body that brings together the world's major economies, and it has the potential to make a significant difference in the world.

Let's delve deep into the case analysis of the G20 Summit 2023, hosted by India, and explore how it's a game-changing path to global collaboration and peace in the present scenario.

The world's most powerful economies have gathered in India for the first time, a rising power with a commitment to multilateralism and sustainable development. At this critical juncture, the G20 has had the chance to make a real difference in the world.

The summit has focused on three major challenges: the COVID-19 pandemic, the war in Ukraine, and the climate crisis. These are all interconnected challenges that require global collaboration and cooperation. The G20 has helped to ensure that everyone has access to vaccines, ended the war in Ukraine, and transitioned to a clean energy future.

The G20 Summit 2023, hosted by India, represents a game-changing path to global collaboration and peace in several key ways.

Let's delve into a deeper understanding of these aspects.

First, it is the first time that the G20 summit has been held in India, a rising power in the global economy. This is a significant development, as it shows that India is now being seen as a major player on the world stage. India's presidency of the G20 provides it with an opportunity to shape the agenda of the group and to promote its own interests.

Second, the summit is being held at a time of great uncertainty and instability in the world. The COVID-19 pandemic, the war in Ukraine, and the climate crisis are all major challenges that the world is facing. The G20 summit provides an opportunity for leaders to come together and to discuss how to address these challenges.

Third, the summit is focusing on the theme of "One Earth, One Family, One Future". This theme reflects India's commitment to multilateralism and to working with other countries to solve global problems. It also reflects India's concern for the environment and its commitment to sustainable development.

The G20 summit 2023 is a significant event that has the potential to make a real difference in the world. By bringing together leaders from the world's major economies, the summit can help to promote global collaboration and peace.

 

"We believe our efforts have enriched your understanding of the G20 Summit 2023 and how it represents India's game-changing path to global collaboration and peace."

Furthermore, if you are seeking a market entry strategy in India, market research services, data collection services, product launch strategy, or training services, please do not hesitate to reach out to us.

For more detailed analysis, real-time and mega trending market research data access, we are happy to introduce MARKET RESEARCH PLANET:  a Subscription Based Platform powered by Market Research Universe (MRU), offering you Unlimited Reports Reading, Downloading and Data Access from anywhere, on any device, starting now! Stay informed, make better decisions.

MARKET RESEARCH PLANET's subscription offers unlimited access to invaluable market data for startup founders, executives (Directors, CEOs, CMOs, CFOs), researchers, managers, consultants, analysts, and academics (Teachers, Professors, Doctoral Research Scholars and PhD Candidates). Access trendsetting reports and databases from any device. Elevate your research work, presentations, and decision-making with real-time industry insights, encompassing consumer surveys, market sizing, trends, and forecasts across diverse sectors.

Sign up for Market Research Planet, to get access for Mega Trending Market Research Reports, as well as Startup Business Plan Reports and Community Resources. Through which, you will get access to more than 100+ Startup Business Plan Reports, 500+ Mega Trending Market Research Reports and Consumer Research Reports, 1000+ Company Profiles, and Routine updates on Industry Trends, Forecasts, and an array of other industry-specific databases.  This invaluable resource will empower you to make well-informed decisions, catering to the prosperity of enterprises of varying magnitudes, be it startups, small businesses, medium-sized ventures, or large corporations.

Getting curious but undecided? No need to worry!

Dive into a 7-day Free Trial extravaganza, immersing yourself in a world of mega trending market research reports, Niche market data bases, and startup business plan reports with new startup business  idea generation support and vibrant community facilities.

Why wait? Ignite your journey with a 7-day FREE TRIAL today! 

@ https://www.marketresearchuniverse.com/market-research-planet

Also, Don't forget to like, share, and subscribe and Follow our Social Handles @Market Research Universe, for regular updates on various industries. Thank you for watching!

 

 

For Regula Industry Analysis Videos, You can Subscribe Our

YouTube Channel @ Market Research Universe

 

Impact of the B20 Summit on the Indian Economy and Business Growth

An Impact Analysis by Market Research Universe (MRU)

The B20 summit is an annual meeting of business leaders from the G20 countries. The 2023 B20 summit was held in India from 23-25 August, with the theme of "RAISE" - Responsible, Accelerated, Innovative, Sustainable, and Equitable Businesses.

The summit brought together over 1,500 business leaders from India and around the world to discuss ways to promote inclusive and sustainable economic growth. The discussions focused on a number of key areas, including:

• Inclusive global value chains (GVCs)
• Energy and climate change
• Digital transformation
• Financial inclusion
• Future of work

The summit also saw the launch of a number of initiatives, including:

• The B20 Digital Inclusion Action Plan, which aims to increase digital access and skills for women and youth in developing countries
• The B20 Green Finance Task Force, which will work to mobilize private capital for green investments
• The B20 Start-up Manifesto, which sets out a vision for a more inclusive and supportive environment for start-ups

 

Let’s deep dive into the Impact Analysis of the B20 Summit

The B20 summit is expected to have a positive impact on the Indian economy and business growth in a number of ways.

1. Increased investment: The summit is expected to attract new investment from global businesses, as it will showcase India's economic potential and its commitment to inclusive and sustainable growth.
2. Promote innovation: The summit will also focus on innovation, which is essential for driving economic growth. The discussions and initiatives at the summit are expected to generate new ideas and solutions that can help businesses in India innovate and grow.
3. Create jobs: The summit is also expected to create jobs, as it will lead to new investments and business activity. The focus on inclusive growth will also help to create jobs for women and youth, who are often marginalized in the workforce.
4. Strengthen the business climate: The summit is expected to strengthen the business climate in India by improving the regulatory environment and providing more support for businesses. This will make it easier for businesses to operate and grow in India.
5. Raise India's profile: The summit will also raise India's profile as a global business destination. This will attract more businesses to India and make it easier for Indian businesses to expand into new markets.

Overall, the B20 summit is expected to have a positive impact on the Indian economy and business growth. It will help to attract new investment, promote innovation, create jobs, strengthen the business climate, and raise India's profile as a global business destination.

We believe our efforts have enhanced your understanding of the B20 Summit's impact on the Indian economy and business growth

For more insights like these, and business case studies, Subscribe and Follow our Social Handles @Market Research Universe

Furthermore, if you are seeking a market entry strategy in India, market research services, data collection services, product launch strategy, or training services, please do not hesitate to reach out to us.

Additionally, we are delighted to extend an invitation for you to enjoy a 7-day FREE TRIAL at our subscription base platform, allowing you to access Unlimited Reading, Downloading to all Mega Trending Market Research Reports, Startup Business Plan Reports, and other databases. Explore our comprehensive One-Stop-Database and Community Platform, the Market Research Planet. @ https://www.marketresearchuniverse.com/market-research-planet

Market research is a vital aspect of understanding consumer behavior, market trends, and competitive landscapes. To conduct effective and comprehensive market research, utilizing the right tools is essential. In this article, we will explore the top five key tools for market research and how they can enhance your market research endeavors. Additionally, we will introduce the Market Research Fellow Program offered by Market Research Universe, which provides in-depth training in B2B and B2C market research.

1. Surveys and Questionnaires:
Surveys and questionnaires are invaluable tools for gathering direct insights from your target audience. Online survey platforms like SurveyMonkey, Google Forms, and Typeform make it easy to design and distribute surveys. The Market Research Fellow Program offered by Market Research Universe equips you with the skills to create effective surveys and analyze the results. By leveraging surveys and questionnaires, you can collect valuable data on consumer preferences, purchasing behavior, and demographic information.

2. Social Media Listening Tools:
Social media platforms have become a treasure trove of consumer insights. Social media listening tools such as Brandwatch, Hootsuite Insights, and Mention allow you to monitor and analyze conversations about your brand, industry, competitors, and relevant keywords. The Market Research Fellow Program provides comprehensive training on leveraging social media listening tools to extract actionable insights. By understanding the sentiments, trends, and competitor activities on social media, you can make data-driven decisions for both B2B and B2C market research.

3. Data Analytics and Visualization Tools:
Data analytics and visualization tools are essential for analyzing and presenting market research data effectively. Tools like Tableau, Excel, and Google Data Studio enable you to process and visualize large datasets. In the Market Research Fellow Program, you will learn how to leverage these tools to derive meaningful insights and create visually appealing reports and dashboards. By mastering data analytics and visualization, you can effectively communicate your findings to stakeholders in both B2B and B2C contexts.

4. Interviews and Focus Groups:
Qualitative research methods, such as interviews and focus groups, provide in-depth insights into consumer opinions, motivations, and perceptions. The Market Research Fellow Program trains you in conducting interviews and facilitating focus groups effectively. By utilizing tools like Zoom and FocusGroupIt, you can engage participants in meaningful discussions to uncover valuable qualitative insights. These tools can be applied to both B2B and B2C market research to gain a deeper understanding of your target audience.

5. Competitive Intelligence Tools:
Understanding the competitive landscape is crucial for both B2B and B2C market research. Competitive intelligence tools such as SEMrush, SimilarWeb, and SpyFu provide insights into your competitors' online presence, digital marketing strategies, and market positioning. In the Market Research Fellow Program, you will learn how to leverage these tools to assess competitor activities, identify market trends, and uncover opportunities for your business. By analyzing competitive intelligence, you can make informed decisions and develop effective strategies.

Enroll in the Market Research Fellow Program: To gain comprehensive market research skills and proficiency in B2B and B2C market research, consider enrolling in the Market Research Fellow Program offered by Market Research Universe.

 

 

This flagship program provides in-depth training on various research methodologies, tools, and techniques. By completing the program, you will be equipped with the knowledge and practical skills to conduct effective market research and make informed business decisions in both B2B and B2C markets.

In conclusion, utilizing the right tools is essential for successful market research in both B2B and B2C contexts. Surveys, social media listening tools, data analytics and visualization tools, interviews and focus groups, and competitive intelligence tools are among the key tools that can enhance your market research efforts. By enrolling in the Market Research Fellow Program, you can gain

MARKET RESEARCH COURSES & TRAINING PROGRAMMES:

Explore more about our Market Research Courses and Practical Trainings

@ https://www.marketresearchuniverse.com/market-research-academy

Contact Us: +91-9811025630

Email: explore@marketresearchuniverse.com

Conducting surveys is a crucial method for gathering data and insights from a target audience. A well-designed survey questionnaire is the backbone of any successful survey. It is essential to invest time and effort into creating a questionnaire that effectively captures the information you need while ensuring participants can provide accurate and meaningful responses. In this article, we will explore the art of survey questionnaire designing and highlight some techniques to maximize the quality and reliability of your survey results.

Define the Survey Objectives:

Before diving into questionnaire design, it is crucial to clearly define your survey objectives. What information do you want to gather? What are your research questions? By establishing specific goals, you can create targeted questions that address your objectives and enable you to obtain the necessary data.

Keep it Simple and Focused:

Simplicity is key when it comes to survey questionnaire design. Use clear and concise language to ensure participants understand each question without confusion. Avoid technical jargon or complex sentence structures that may confuse respondents or lead to misinterpretation.

Keep the survey focused by sticking to your research objectives. Irrelevant or extraneous questions can lead to participant fatigue, decreased response rates, and compromised data quality. Stay on track and only include questions that directly contribute to your research goals.

Use Open-Ended and Closed-Ended Questions:

There are two primary types of questions you can utilize in your survey: open-ended and closed-ended questions.

Open-ended questions allow respondents to provide detailed and personalized responses. They are valuable when exploring participants' thoughts, opinions, or experiences in their own words. These questions provide rich qualitative data but can be time-consuming to analyze due to the diverse nature of responses.

Closed-ended questions offer a range of predefined answer options, such as multiple choice, Likert scale, or rating scales. These questions provide quantitative data that is easier to analyze and compare. Closed-ended questions are effective for collecting specific information, measuring attitudes, or gathering demographic data.

A well-designed survey often incorporates a mix of open-ended and closed-ended questions to balance depth and ease of analysis.

Maintain Logical Flow and Order:

The flow and order of questions within a survey can significantly impact response quality. Start with easy, non-sensitive questions to engage respondents and build momentum. Gradually progress to more complex or personal questions to maintain participant interest and increase response rates.

Arrange questions in a logical order, ensuring that they flow smoothly and naturally. Group related questions together to maintain coherence and prevent confusion. Use section headings or instructions to provide context and guide respondents through different sections of the survey.

Avoid Bias and Leading Questions:

To maintain the integrity of your survey results, it is crucial to avoid biased or leading questions. Bias can occur when questions are phrased in a way that influences or manipulates respondents' answers. Review your questions for any implicit bias, and strive for neutrality and objectivity.

For example, instead of asking, "Don't you agree that this product is the best in the market?" a more neutral approach would be, "What are your thoughts on this product? Please provide any feedback or suggestions."

Pilot Testing and Revision:

Before launching your survey, conduct pilot testing with a small group of participants who resemble your target audience. This helps identify any issues or ambiguities in the questionnaire. Analyze the pilot results, gather feedback from participants, and make necessary revisions to improve question clarity, relevance, and overall survey experience.

Consider Response Options and Scales:

When designing closed-ended questions, pay attention to the response options and scales you provide. Ensure that the answer choices cover the full range of possibilities and do not exclude any relevant options. Use balanced scales (e.g., 1-5, 1-7) to enable participants to express their preferences or opinions accurately

Market Research Universe's Survey Designing and Data Collection Services

At Market Research Universe, we understand that data is the key to making informed business decisions. That's why we offer comprehensive Survey and Data Collection Services designed to help you gather valuable insights and make data-driven strategies.

Our team of experienced professionals is well-versed in the art and science of survey design and data collection. We employ a variety of methodologies, including online surveys, phone interviews, focus groups, and more, to ensure that we capture the most accurate and relevant data for your needs.

With our Survey and Data Collection Services, you can expect:

1. Customized Surveys: We work closely with you to understand your specific research objectives and tailor surveys accordingly. Our experts will design engaging questionnaires that yield actionable data.

2. Targeted Respondents: We have access to a vast network of respondents across various demographics, ensuring that your surveys reach the right audience. Whether you need to target a specific age group, industry professionals, or general consumers, we've got you covered.

3. Multichannel Data Collection: We leverage a wide range of data collection methods to reach respondents through multiple channels. This approach maximizes response rates and provides diverse perspectives, enhancing the reliability and validity of your data.

4. Quality Assurance: We maintain stringent quality control measures throughout the data collection process to ensure accurate and reliable results. Our team meticulously reviews responses, identifies any inconsistencies or biases, and cleanses the data to provide you with high-quality insights.

5. Timely Delivery: We understand the importance of time-sensitive decision-making. With our efficient data collection and analysis processes, we ensure that you receive your results within the agreed-upon timeframe, empowering you to act swiftly and stay ahead of the competition.

Partnering with Market Research Universe for your Survey and Data Collection needs guarantees access to comprehensive insights that can shape your business strategies. Whether you're launching a new product, assessing customer satisfaction, or exploring market trends, our services will provide the data foundation you need to make informed decisions.

Contact us today to learn more about how Market Research Universe's Survey and Data Collection Services can help you unlock the power of data and gain a competitive edge in your industry.

Explore more about the Survey, Data Collection and Customer Experience Services @ https://www.marketresearchuniverse.com/surveyviu

Get Free Consultation: +91-9811025630 , Email: explore@marketresearchuniverse.com

SOY MILK  MARKET RESEARCH & BUSINESS PLAN BIBLE: Your go-to handbook for comprehensive market research guidance and strategic business planning.

Purpose of this Handbook

The purpose of this Handbook-"Soy Milk Market Research and Business Plan Bible" is to provide a comprehensive guide for individuals and organizations interested in entering or expanding their presence in the soy milk industry. The handbook aims to serve the following purposes:

Knowledge and Understanding: The handbook provides a thorough overview of the soy milk industry, including its composition, nutritional profile, market trends, and growth potential. It aims to enhance the reader's understanding of soy milk and its market dynamics.

Market Research Guidance: The handbook offers guidance on conducting effective market research specific to the soy milk industry. It provides insights into research methodologies, data collection techniques, analysis of market trends, competitor analysis, and understanding consumer preferences. The goal is to equip readers with the necessary tools and knowledge to gather and analyze relevant market data.

Business Plan Development: The handbook provides a step-by-step framework for developing a comprehensive business plan for a soy milk venture. It covers crucial aspects such as defining business goals, identifying target markets, value proposition development, pricing strategies, marketing and branding, distribution channels, operations, financial projections, and risk assessment. The aim is to assist readers in creating a robust and well-structured business plan that aligns with market realities and objectives.

Future Outlook: The handbook explores the future prospects of the soy milk market, including emerging trends, consumer preferences, challenges, and opportunities. It discusses sustainability considerations, market expansion possibilities, and potential regulatory developments. This information enables readers to make informed decisions and adapt their strategies to meet future market demands.

Practical Resources: The handbook offers practical resources such as sample market research surveys, financial projection templates, a glossary of relevant terms, a resource directory, and recommended reading materials. These resources serve as valuable tools for conducting market research, developing financial projections, and further expanding knowledge in the field.

Overall, the handbook aims to provide a comprehensive and practical guide that equips readers with the knowledge, insights, and resources necessary to conduct effective market research and develop a solid business plan for the soy milk industry. It serves as a valuable reference for entrepreneurs, business professionals, researchers, and anyone interested in entering or expanding within this dynamic market.

Get your copy of the Hanbook. 

Amazon.in @ https://amzn.eu/d/1H4aP0I

Amazon.com @ https://a.co/d/aliOl6p

 

Market Research Universe, a market research service offering and training centre, is pleased to announce the release of the Handbook- "Indian Power Sector Policy Making Handbook." This comprehensive handbook offers a valuable resource for policymakers, regulators, industry professionals, and stakeholders involved in shaping the policies and strategies of the Indian power sector.

The "Indian Power Sector Policy Making Handbook" provides an in-depth analysis of the key aspects and challenges of power sector policy making in India. It offers a holistic view of various policy areas, including renewable energy promotion, energy efficiency, cross-border power trade, emerging technologies, and international cooperation.

As India's power sector continues to witness significant growth and transformation, the need for effective policy making has become paramount. The "Indian Power Sector Policy Making Handbook" addresses this need by offering practical guidance, best practices, and case studies to support evidence-based decision-making. It provides valuable insights into policy integration, stakeholder engagement, and international collaborations to foster a sustainable and resilient power sector. With its comprehensive coverage and practical recommendations, we believe it will serve as an indispensable guide for policymakers and professionals in navigating the complexities of the Indian power sector and driving its sustainable development."

Key features of the handbook include:

• In-depth analysis of renewable energy policies and mechanisms, including solar energy, wind energy, biomass energy, and small hydropower projects.
• Strategies for promoting energy efficiency and conservation through energy conservation building codes, demand-side management programs, and energy audits.
• Insights into cross-border power trade, interconnection, and grid synchronization to facilitate regional energy cooperation.
• Exploration of emerging technologies such as electric vehicles, energy storage systems, microgrids, and the Internet of Things (IoT) in the power sector.
• Examination of international cooperation and partnerships for knowledge exchange, capacity building, and technology transfer.

The release of the "Indian Power Sector Policy Making Handbook" by Market Research Universe is a testament to the company's commitment to providing industry-leading insights and analysis. This handbook will serve as an invaluable tool for policymakers, regulators, and industry professionals as they navigate the evolving landscape of the Indian power sector.

The "Indian Power Sector Policy Making Handbook" is now available in Our Library and Amazon as well.

Get your copy from Amazon.in @ https://amzn.eu/d/6bYQATq

Get you copy from Amazon.com @ https://amzn.eu/d/6bYQATq

 

About Market Research Universe: Market Research Universe is a market research backed management consulting service offering and training centre. We provides comprehensive intelligence and analysis across various industry sectors. With a team of experienced researchers and analysts, Market Research Universe delivers actionable insights and strategic recommendations to help organizations make informed business decisions.

Contact: +91-9811025630, Email: explore@marketresearchuniverse.com

"C-SUITE CONVERSATIONS: Women Digital Entrepreneurship in India: A Handbook for C-Level Executives and Aspiring Digital Entrepreneurs to understand their Business Problems and Strategic Solutions"

The purpose of this handbook-“C-SUITE CONVERSATIONS: Women Digital Entrepreneurship in India” is to provide guidance and insights for C-suite executives and aspiring digital entrepreneurs engaging in conversations with women digital entrepreneurs in India. In recent years, the digital landscape in India has witnessed a significant rise in the number of women entrepreneurs who are driving innovation, creating successful startups, and making a substantial impact on the economy. As leaders in their respective industries, it is crucial for C-suite executives to foster meaningful conversations that promote collaboration, inclusivity, and support for these women entrepreneurs. This handbook aims to equip C-suite professionals with the necessary knowledge, strategies, and best practices to engage in productive dialogues, build strong relationships, and contribute to the success of women digital entrepreneurs in India.

Enhance Understanding: This handbook will help C-suite executives and aspiring digital entrepreneurs gain a comprehensive understanding of the unique challenges, opportunities, and experiences faced by women digital entrepreneurs in India. By exploring the specific dynamics of the digital startup ecosystem, C-suite leaders can develop empathy and knowledge required to effectively engage with these entrepreneurs.

Foster Collaboration: The handbook will provide insights into the benefits of collaboration between C-suite executives and women digital entrepreneurs. It will highlight the value of forming strategic partnerships, sharing resources, and leveraging networks to drive innovation and mutual growth. It aims to encourage C-suite professionals to actively seek opportunities to collaborate with women entrepreneurs and bridge the gender gap in the digital sector.

Promote Inclusivity: By addressing the barriers and biases that women digital entrepreneurs often encounter, the handbook aims to raise awareness and promote inclusivity within C-suite conversations. It will provide guidance on creating a safe, respectful, and supportive environment where women entrepreneurs feel empowered to share their ideas, challenges, and aspirations.

Provide Actionable Insights: The handbook will equip C-suite executives with actionable insights and practical strategies to engage effectively with women digital entrepreneurs in India. It will include guidance on active listening, asking relevant questions, providing constructive feedback, and offering mentorship opportunities. Additionally, it will highlight the importance of advocating for diversity and inclusion within the organization.

Drive Change and Impact: Ultimately, the purpose of this handbook is to drive positive change and contribute to the success of women digital entrepreneurs in India. By providing C-suite executives with the necessary tools, knowledge, and mindset, it aims to foster an ecosystem that recognizes and supports the immense potential and talent of women in the digital space. Through meaningful conversations and collaborative efforts, this handbook seeks to empower women entrepreneurs, challenge gender biases, and create a more inclusive and equitable digital landscape in India.

By engaging in purposeful conversations with women digital entrepreneurs in India, C-suite executives and aspiring digital entrepreneurs have the opportunity to foster a culture of collaboration, inclusivity, and support within their organizations. This handbook serves as a guide to equip C-suite professionals with the necessary knowledge, strategies, and best practices to engage effectively with women entrepreneurs in the digital space. By embracing these insights and taking action, C-suite executives and aspiring digital entrepreneurs can contribute to the growth, success, and empowerment of women digital entrepreneurs in India, leading to a more diverse, innovative, and thriving digital ecosystem. 

 

FUTURE SCOPE OF THE HANDBOOK

The study involves the analysis of problems and challenges faced by women digital entrepreneurs in urban-middle class India. A lot of potential exists for researchers to explore the challenges in other parts of India where lack of access to technology to women, family barriers and inadequate infrastructure are major barriers for women digital entrepreneurs. 

C-SUITE INTERVIEWS

Various digital entrepreneur women were asked to answer few questions in order to get insights of their problems and challenges. Some of these women preferred to be interviewed while other preferred to answer questions over text. Around 10 women participated in this study who currently owned a digital enterprise and those who wanted to establish one. Amongst them, 4 of them were interviewed over WhatsApp video call in both English and Hindi language while 6 of them preferred to answer questions in written form.

A semi-structured interview format was used to ensure that participants responded to a common set of questions examining the problems and challenges faced by them as a digital entrepreneur and to explore the solutions that could help these entrepreneurs.

Same questions were asked by each interviewee. The interview began with asking their names, the kind of business they have or want to have, followed by the hurdles faced by them. The details of the interview are given below:

Key Questiones Asked to all the C-Level and Entrepreneurs

1.What kind of business do you have?

2.Did you start the business online or have you shifted from an offline business to online?

3.What prompted you to go online?

4.What were the hurdles faced by you, being a woman?

5.Do you think lack of knowledge and training in online tools is a reason for women being behind in setting up their businesses?

6.What other reasons you think are hurdles for women?

7.What solutions could we come up with empowering women digital entrepreneurs?

Hence, this must-have resource is designed to provide invaluable insights, strategies, and solutions for C-level executives and aspiring digital entrepreneurs looking to understand the unique business challenges faced by women in India's digital landscape and pave the way for success.

Explore the Handbook to:

• Gain a deep understanding of the obstacles hindering women's entrepreneurship in the digital space.
• Uncover real-life stories, research, and industry trends shaping the landscape.
• Discover practical strategies to foster collaboration, inclusivity, and support.
• Explore existing government policies and initiatives empowering women entrepreneurs.
• Access policy recommendations to enhance the ecosystem and spur growth.

Empowerment and diversity are at the core of this handbook, driving us towards a more inclusive and equitable digital future.

Whether you're a C-suite executive eager to engage in meaningful conversations or an aspiring digital entrepreneur seeking strategic guidance, this handbook will equip you with the knowledge and tools to navigate the challenges and unleash your full potential. 

Get your copy today and dive into the dynamic world of "C-SUITE CONVERSATIONS: Women Digital Entrepreneurship in India." Let's shape a future where all voices are heard and opportunities are within reach. Together, we can achieve greatness!

Purchase the Handbook from Amazon

Amazon.com @ https://a.co/d/1N1RnxW

Amazon.in @ https://amzn.eu/d/78bWTmV

 

The global IT sector is facing an uncertain future, with predictions of an upcoming recession in the years 2023-2024. Businesses must prepare for the challenges ahead and develop strategies to survive and thrive in this difficult economic environment. In this article, we will discuss strategies for businesses to survive in the upcoming global IT sector recession.

Assess the Impact:

The first step for businesses is to assess the potential impact of the global IT sector recession on their operations. This includes analyzing the supply chain and identifying any potential disruptions or delays. Additionally, businesses should assess their exposure to currency fluctuations, geopolitical risks, and changes in consumer demand.

Focus on Cost-Cutting Measures:

To survive in the upcoming global IT sector recession, businesses must focus on cost-cutting measures. This includes reducing unnecessary expenses, renegotiating contracts, and optimizing processes to increase efficiency. However, businesses must also ensure that they do not cut costs in areas that are essential to their operations or long-term growth.

Invest in Innovation and New Technologies:

While cutting costs is important, businesses must also invest in innovation and new technologies to drive growth and competitiveness. This includes investing in digital transformation, automation, and artificial intelligence. By leveraging new technologies, businesses can improve their operations, increase efficiency, and stay competitive in a challenging economic environment.

Diversify the Portfolio:

To mitigate the impact of the global IT sector recession, businesses should consider diversifying their portfolio. This includes expanding into new markets, products, and services. By diversifying the portfolio, businesses can reduce their dependence on a single market or product and spread the risk across different areas.

Focus on Customer Experience:

During a recession, customer loyalty becomes even more important. Businesses must focus on providing an exceptional customer experience to retain existing customers and attract new ones. This includes investing in customer service, developing personalized marketing strategies, and offering competitive pricing.

Employee Retention:

Retaining top talent is essential for businesses to survive and thrive during the upcoming global IT sector recession. This includes offering more flexible work arrangements, increasing compensation and benefits, and providing opportunities for career development. By investing in their employees, businesses can ensure that they have the talent and expertise necessary to overcome the challenges of the recession.

Conclusion:

The global IT sector recession may present significant challenges for businesses, but by taking proactive steps, businesses can survive and thrive in this difficult economic environment. By assessing the potential impact, focusing on cost-cutting measures, investing in innovation and new technologies, diversifying the portfolio, focusing on customer experience, and retaining top talent, businesses can prepare for the upcoming challenges and emerge stronger and more competitive

Get strategy consultation, C-level (Executive Level) In-depth Interview Survey to understand how the fortune 500 companies preparing to survive in the upcoming IT sector recession and get help to make your business strategy to tackle the recession. 

Contact us: +91-9811025630

Email: explore@marketresearchuniverse.com

Market research is an essential tool for businesses to gain insights into their target market and make informed decisions. However, not all businesses have the necessary skills and expertise to conduct market research effectively. This is where Market Research Universe (MRU) comes in, offering corporate training programs to equip businesses with the skills and knowledge needed to conduct successful market research.

Here are some of the benefits of corporate training on market research provided by MRU:

1. Customized Training Programs: MRU offers customized training programs to meet the specific needs of businesses. These programs can be tailored to address the unique challenges and opportunities that businesses face in their respective industries.

2. Industry Experts: The training programs are conducted by industry experts who have extensive experience in market research. They provide practical insights and best practices that can be applied to real-world situations.

3. Comprehensive Curriculum: The training programs cover a wide range of topics related to market research, including research methodologies, data analysis, and report writing. Participants will gain a comprehensive understanding of the entire research process.

4. Hands-on Experience: The training programs provide participants with hands-on experience in conducting market research. Participants will work on real-world research projects and learn how to apply the concepts learned in the training programs.

5. Flexibility: The training programs are designed to be flexible and can be conducted on-site or online. Participants can choose the pace that works best for them and can complete the programs in as little as a few days or as long as several weeks.

By providing corporate training programs on market research, MRU enables businesses to conduct successful market research that can help them make informed decisions. These training programs equip businesses with the necessary skills and knowledge to conduct research effectively and efficiently, saving them time and resources in the long run.

In conclusion, businesses can benefit greatly from corporate training programs on market research provided by MRU. These programs offer customized, comprehensive, and hands-on training that can help businesses gain a competitive edge in their respective industries. With the guidance of industry experts, businesses can conduct successful market research that can inform their decision-making and drive growth and success

Know more about the Corporate Training Solution Offerd by MRU

@ https://www.marketresearchuniverse.com/corporate-training-solution

Contact Us: +91-9811025630, Email: training@marketresearchuniverse.com

A go-to-market (GTM) strategy is a critical element in the success of any business. It outlines the process of bringing a product or service to market and creating a sustainable competitive advantage. The goal of a GTM strategy is to ensure that a company's offering reaches the right customers at the right time and in the right way. 

Importance of a Go-To-Market Strategy

A well-crafted GTM strategy can provide a clear roadmap for a company to successfully launch its products or services. A GTM strategy can help businesses to:

1. Understand the market: A GTM strategy helps businesses to understand their target market, their needs, preferences, and how to reach them effectively.

2. Define the unique value proposition: A GTM strategy helps businesses to define their unique selling proposition (USP) that sets them apart from their competitors. This USP can be leveraged to communicate the value of the product or service to customers.

3. Identify the right channels: A GTM strategy helps businesses to identify the most effective channels for reaching their target customers. This can include traditional channels such as print and TV advertising, as well as newer digital channels such as social media and influencer marketing.

4. Create a sustainable competitive advantage: A GTM strategy helps businesses to create a sustainable competitive advantage by leveraging their USP, customer insights, and market trends. This helps the business to differentiate itself from its competitors and maintain a strong market position.

Techniques for Developing a Successful Go-To-Market Strategy

1. Define your target customer: The first step in developing a GTM strategy is to identify and define the target customer. This involves understanding their demographics, psychographics, behaviors, and pain points. This information can be gathered through market research, customer surveys, and other data sources.

2. Analyze the competition: Analyzing the competition is an important step in developing a successful GTM strategy. This involves understanding their strengths, weaknesses, pricing strategies, and marketing tactics. This information can be used to create a USP that differentiates the business from its competitors.

3. Develop a messaging strategy: A messaging strategy is an essential component of a GTM plan. This involves creating a clear and concise message that communicates the value of the product or service to the target customer. The messaging should be consistent across all marketing channels and should highlight the USP of the business.

4. Identify the right channels: Identifying the right channels is critical to the success of a GTM strategy. This involves selecting the most effective channels for reaching the target customer, such as social media, email marketing, or search engine marketing. Each channel should be evaluated based on its reach, engagement rates, and cost-effectiveness.

5. Set goals and metrics: Setting goals and metrics is an essential component of a successful GTM strategy. This involves defining specific objectives, such as increasing brand awareness or generating sales leads, and setting measurable metrics for tracking progress towards these objectives. This can include metrics such as website traffic, conversion rates, and customer acquisition costs.

A well-executed GTM strategy can be the difference between the success and failure of a business. It helps businesses to understand their target customers, differentiate themselves from their competitors, and create a sustainable competitive advantage. By following the techniques outlined in this article, businesses can develop a successful GTM strategy that helps them to achieve their business objectives and drive growth

Learn Go-to-market strategy, join Market Research Fellow Program offered by MRU

Market Research Universe (MRU) offers a Market Research Fellow Program that provides participants with the opportunity to learn about go-to-market strategy and other market research methodologies. This program is designed for individuals who are interested in pursuing a career in market research or for those who want to improve their skills in this field.

Explore more about the Market Research Fellow Program@ https://www.marketresearchuniverse.com/fellow-program-in-market-research

 

Go-to-market strategy services provided by MRU

Market Research Universe (MRU) provides go-to-market strategy services that help businesses create effective strategies to launch their products or services into the market. These services are designed to provide businesses with actionable insights that can help them identify the right target market, develop effective messaging, and create a successful product launch.

Here are some of the go-to-market strategy services offered by MRU:

1. Market Assessment: MRU conducts a comprehensive analysis of the market to help businesses identify potential opportunities and threats. This analysis includes assessing market size, segmentation, trends, and customer needs.

2. Customer Segmentation: MRU helps businesses identify their target customers and segments them based on demographics, psychographics, and behavior. This information can be used to create targeted marketing campaigns and messages.

3. Product Positioning: MRU helps businesses identify the unique selling proposition of their product or service and creates a messaging strategy that differentiates it from competitors. This messaging strategy can be used in marketing and sales efforts.

4. Sales Enablement: MRU helps businesses create sales enablement tools that provide sales teams with the information and resources they need to sell effectively. This includes creating sales collateral, training materials, and sales scripts.

5. Launch Strategy: MRU helps businesses create a launch strategy that includes a timeline, budget, and tactics for launching their product or service. This includes identifying launch channels, creating marketing campaigns, and measuring success.

MRU's go-to-market strategy services are designed to provide businesses with a comprehensive approach to launching their products or services. Their services are based on industry-standard research methodologies and are tailored to meet the specific needs of each client

Explore our Go-to-market strategy offerings and market research and consulting services @ https://www.marketresearchuniverse.com/market-research-and-consulting

Contact Us: +91-9811025630

Email: explore@marketresearchuniverse.com

Conducting market research is an essential part of any B2B (business-to-business) strategy. It helps organizations gain insights into their target markets and understand the needs and preferences of their customers. However, B2B market research can be complex and challenging, as it involves gathering data from a specific group of buyers with unique characteristics and purchasing behaviors. In this article, we'll discuss some steps to conduct effective B2B market research.

1. Define the research objectives: Before conducting any research, it is essential to define the research objectives. This includes understanding the problem that the research aims to solve and the goals that the organization hopes to achieve. Defining clear objectives ensures that the research is focused and relevant.

2. Identify the target audience: B2B market research involves gathering data from a specific group of buyers. Therefore, it is crucial to identify the target audience and understand their characteristics and behaviors. This includes their company size, industry, location, decision-making process, and pain points.

3. Choose the research methodology: There are various research methodologies available, including surveys, focus groups, interviews, and observation. Each method has its advantages and disadvantages, and the choice of methodology depends on the research objectives, target audience, and available resources.

4. Develop a research questionnaire: If a survey is the chosen methodology, it is essential to develop a research questionnaire that addresses the research objectives and targets the specific audience. The questionnaire should be designed to gather relevant data that will provide insights into the target audience's needs, preferences, and behaviors.

5. Recruit participants: Once the research methodology and questionnaire are developed, it is time to recruit participants. This includes identifying potential participants and inviting them to participate in the research. It is essential to ensure that the participants are representative of the target audience to ensure the validity of the research findings.

6. Collect and analyze data: Once the data is collected, it is time to analyze it. This involves organizing and summarizing the data, identifying patterns, and drawing conclusions. The analysis should focus on the research objectives and address any specific questions that the organization may have.

7. Present findings and recommendations: Finally, it is essential to present the research findings and recommendations to the organization's stakeholders. This includes providing an overview of the research objectives, methodology, and findings, as well as recommendations based on the research findings.

In conclusion, conducting B2B market research is critical to understanding the needs and preferences of a specific group of buyers. It helps organizations develop targeted marketing strategies, create products and services that meet the needs of their customers, and make informed business decisions. By following the steps outlined above, organizations can conduct effective B2B market research and gain the insights needed to succeed in the marketplace

Market research is a crucial component of any successful product life cycle (PLC). The PLC is a framework that explains the various stages a product goes through, from its inception to its eventual decline. It consists of four stages: introduction, growth, maturity, and decline. Each stage requires a different approach to marketing, and market research plays a critical role in guiding that approach.

In the introduction stage, market research is used to identify potential customers and their needs. This information is then used to create a product that meets those needs. Market research also helps determine the best pricing strategy and the most effective way to promote the product. This is crucial because it sets the tone for the rest of the product's life cycle. If the product fails to resonate with its target market during the introduction stage, it may never gain traction and will ultimately fail.

In the growth stage, market research is used to measure the success of the product and identify areas for improvement. This includes identifying new market segments that may be interested in the product and understanding how the product fits into the larger market landscape. Market research can also help determine the optimal pricing strategy, including whether to adjust prices to appeal to different customer segments.

In the maturity stage, market research becomes even more critical. At this point, the market is saturated with similar products, and competition is fierce. Market research can help identify ways to differentiate the product from its competitors and retain customer loyalty. It can also be used to identify new markets to target, such as international markets or new customer segments.

Finally, in the decline stage, market research is used to determine the reasons for the product's decline and to identify ways to revitalize it or replace it with a new product. This can include understanding changes in customer needs, identifying new competitors, or exploring alternative distribution channels.

In summary, market research plays a critical role in every stage of the product life cycle. It provides the information needed to create a product that meets customer needs, develop effective marketing strategies, measure success, identify areas for improvement, differentiate from competitors, and ultimately, make decisions about the product's future. Without market research, companies are flying blind, making decisions based on intuition rather than data. In today's competitive marketplace, that's a recipe for failure

Get Practical Training on Market Research and get on-job training on the application of Market Research in Product Life Cycle (PLC) and Product Development 

Market Research Universe (MRU) is the pioneer organization providing the Market Research Fellow Program.  MRU offers its students the best practical, live project oriented, internship and job ready market research fellow program with 100% placement assistance. After completion of the FPMR programme they feel quite confident to join any top market research company (100% placement assistance will be provided) or, candidate can join us as an Independent Market Researcher after successfully completion of the FPMR programme. 

Candidate who is passionate about market research and want to start a high ticket freelancing  career / independent researching in the market research & consulting industry or want to start their own market research agency under the guidance of industry experts; can also opt for this FPMR program.

Know more about our Market Research Academy and It's Flagship Programmes in Market Research @ https://www.marketresearchuniverse.com/market-research-academy

Contact Us: +91-9811025630

Email: explore@marketresearchuniverse.com

Market segmentation is a crucial aspect of modern marketing strategy that involves dividing a larger market into smaller groups of consumers with similar needs, preferences, and behaviors. This allows businesses to create more targeted marketing campaigns and better understand their customers. 

Importance of Market Segmentation

Market segmentation allows businesses to focus on specific customer groups that have unique needs and preferences. By understanding the characteristics of each segment, businesses can create targeted marketing campaigns that speak directly to those customers. This results in higher customer satisfaction, increased sales, and a stronger brand image.

Methods of Market Segmentation

There are several methods used to segment a market, each with its own advantages and disadvantages. Some of the most common methods of market segmentation include:

1. Demographic Segmentation

Demographic segmentation is one of the most common methods of market segmentation and involves dividing the market based on demographic characteristics such as age, gender, income, education, and family size. This method is useful for businesses that offer products or services that appeal to specific demographic groups, such as baby products for young parents or luxury goods for high-income individuals.

2. Geographic Segmentation

Geographic segmentation involves dividing the market based on geographical factors such as location, climate, and population density. This method is useful for businesses that operate in specific regions or areas, such as local businesses or tourist destinations.

3. Psychographic Segmentation

Psychographic segmentation involves dividing the market based on lifestyle, personality, values, and attitudes. This method is useful for businesses that want to target customers based on their personality and lifestyle choices, such as fitness enthusiasts or environmentally conscious consumers.

4. Behavioral Segmentation

Behavioral segmentation involves dividing the market based on consumer behavior, such as buying patterns, brand loyalty, and usage rates. This method is useful for businesses that want to target customers based on their buying habits, such as frequent buyers or first-time customers.

5. Benefit Segmentation

Benefit segmentation involves dividing the market based on the benefits that customers seek from a particular product or service. This method is useful for businesses that want to target customers based on the specific benefits they offer, such as convenience or quality.

 

Market Segmentation Techniques

There are several techniques that can be used to segment a market effectively. These include:

1. Surveys

Surveys are a common market research tool used to gather information about consumer behavior, preferences, and needs. Surveys can be conducted online, over the phone, or in person, and can be designed to target specific customer groups.

2. Focus Groups

Focus groups are small groups of consumers who are brought together to discuss a particular product or service. Focus groups provide valuable insights into consumer attitudes and behaviors, allowing businesses to develop more effective marketing messages.

3. Data Analytics

Data analytics involves analyzing large amounts of data to identify patterns and trends. This can help businesses to identify customer segments based on their behavior, preferences, and needs.

4. Social Media Listening

Social media listening involves monitoring social media channels for mentions of a business or its products. This can help businesses to understand consumer sentiment and identify opportunities for segmentation.

Market segmentation is a critical tool for businesses to better understand their customers and develop more effective marketing strategies. By segmenting the market based on demographic, psychographic, geographic, and behavioral characteristics, businesses can tailor their messaging and offerings to specific customer groups. By using techniques such as surveys, focus groups, data analytics, and social media listening, businesses can gain valuable insights into consumer behavior and improve the effectiveness of their marketing efforts. 

Get Practical Training on Market Segmentation and other important tools of Market Research offered by MRU

Market Research Universe (MRU) is the pioneer organization providing the Market Research Fellow Program.  MRU offers its students the best practical, live project oriented, internship and job ready market research fellow program with 100% placement assistance. After completion of the FPMR programme they feel quite confident to join any top market research company (100% placement assistance will be provided) or, candidate can join us as an Independent Market Researcher after successfully completion of the FPMR programme. 

Candidate who is passionate about market research and want to start a high ticket freelancing  career / independent researching in the market research & consulting industry or want to start their own market research agency under the guidance of industry experts; can also opt for this FPMR program.

Know more about our Market Research Academy and It's Flagship Programmes in Market Research @ https://www.marketresearchuniverse.com/market-research-academy

Contact Us: +91-9811025630

Email: explore@marketresearchuniverse.com

 

In any business, understanding the market size is crucial for making informed decisions and setting realistic goals. Market size estimation is the process of determining the total number of potential customers for a product or service within a specific geographic area. It is a critical factor for business success and growth. 

1. Target Audience Identification

Market size estimation helps businesses identify their target audience. By understanding the total number of potential customers, businesses can develop effective marketing strategies to reach out to them. The more precisely a company can define its target audience, the more effectively it can create targeted advertising campaigns that resonate with them. With the knowledge of market size, businesses can segment their target audience based on demographic, geographic, psychographic, and behavioral factors, allowing them to tailor their messaging and product offerings to specific groups.

2. Business Planning and Strategy Development

Market size estimation is essential for business planning and strategy development. It helps businesses determine the feasibility of their ideas, assess their potential growth, and evaluate their potential for success. Estimating the size of the market can provide businesses with insights into how they can improve their products, optimize their pricing strategies, and allocate resources more effectively.

3. Market Potential Assessment

Market size estimation is an essential step in assessing the potential of a new product or service. It helps businesses understand the size of the market and the potential demand for their offering. By analyzing the size of the market, businesses can evaluate the potential revenue streams and profitability of their product. This information can help businesses decide whether to launch their product or service or to modify their offering to better meet the needs of their target audience.

4. Competitor Analysis

Market size estimation also plays a vital role in competitor analysis. By understanding the size of the market, businesses can identify their competitors and assess their strengths and weaknesses. This information can help businesses develop strategies to differentiate themselves from their competitors, identify potential areas of opportunity, and optimize their marketing efforts to reach their target audience more effectively.

5. Investment and Funding

Market size estimation is crucial for securing investment and funding for a business. Investors and lenders want to know that the business has a market large enough to support their investment. Market size estimation provides businesses with a strong foundation for their pitch, demonstrating the size and potential of their target audience and the potential return on investment.

Market Size Estimation Methodology

Market size estimation methodology is the process of determining the potential number of customers for a product or service within a specific geographic area. It is a crucial step in business planning, strategy development, and decision-making. 

1. Define the Market: The first step in estimating market size is to define the market. The market should be defined in terms of the product or service that the business is offering, the geographic location, and the target audience. Defining the market will help to ensure that the market size estimate is accurate and relevant.

2. Conduct Market Research: Market research is essential for estimating market size. The research should include both primary and secondary research. Primary research involves gathering data directly from potential customers, while secondary research involves analyzing existing data from industry reports, government statistics, and other sources.

3. Determine the Total Addressable Market (TAM): TAM is the total number of potential customers for a product or service within the defined market. TAM represents the maximum possible revenue that could be generated if every potential customer purchased the product or service. TAM can be estimated by multiplying the total population within the defined market by the average price of the product or service.

4. Determine the Serviceable Available Market (SAM): SAM is the segment of the TAM that the business can realistically target. It is the portion of the TAM that the business can reach with its marketing efforts and resources. SAM can be estimated by determining the percentage of the TAM that the business can realistically target based on its capabilities and resources.

5. Determine the Serviceable Obtainable Market (SOM): SOM is the portion of the SAM that the business can realistically capture in the short-term. It is the actual market size that the business can capture based on its marketing efforts, pricing, and competition.

6. Validate the Market Size Estimate: The final step in estimating market size is to validate the estimate. Validation can be done by comparing the estimate with industry reports, government statistics, and other sources of data. Validation is important to ensure that the market size estimate is accurate and relevant to the business.

Market Size Estimation Techniques 

Market size estimation is a crucial step in developing a successful business strategy. It helps businesses understand the potential demand for their products or services, identify their target audience, and evaluate their competition.

1. Top-Down Approach: The top-down approach involves starting with the total market size and then breaking it down into smaller segments. This technique uses existing data sources such as industry reports, government statistics, and other published sources to estimate the total market size. The total market size is then broken down into segments based on factors such as demographics, psychographics, and behavior.

2. Bottom-Up Approach: The bottom-up approach involves estimating the market size by starting with individual customers and then aggregating them into a total market size. This technique uses primary research such as surveys, focus groups, and interviews to gather data on individual customers. The data is then used to estimate the total market size by extrapolating the results to the total population.

3. Regression Analysis: Regression analysis is a statistical technique that is used to identify the relationship between two or more variables. It can be used to estimate the market size by analyzing the relationship between market size and other factors such as population size, income level, and consumer behavior.

4. Market Experimentation: Market experimentation involves conducting experiments to estimate the market size. This technique involves testing the demand for a product or service in a small market before scaling it up to a larger market. Market experimentation is a valuable technique for new products or services where there is no existing data to estimate market size.

5. Expert Opinions: Expert opinions involve gathering opinions from industry experts and professionals to estimate market size. This technique is useful when there is limited data available or when the market is highly specialized.

6. Technology and Data Analytics: Technology and data analytics are increasingly used in market size estimation. This technique involves analyzing large amounts of data using advanced analytics tools to estimate the market size. Data sources can include social media, web analytics, and customer data.

Market Size Estimation Workshop Offered by Market Research Universe

Market Research Academy (MRA)-the training division of Market Research Universe (MRU) offers India’s first practical and live project oriented Market Estimation (ME) / Market Size Estimation / Market Engineering online workshop with lifetime Q&A support. 

The Market Size Estimation Workshop is designed to help businesses accurately estimate the size of their target market. The workshop is conducted by experienced market research professionals who have years of experience in market sizing and forecasting. The workshop is customized to meet the specific needs of each business and is delivered through a combination of presentations, case studies, and hands-on exercises.

The workshop covers the following topics:

1. Defining the market: The first step in market sizing is to define the market. The workshop covers the process of defining the market by product or service, geography, and target audience.

2. Market research: The workshop covers the importance of market research in market sizing and forecasting. It includes a discussion of primary and secondary research methods and data sources.

3. Market sizing techniques: The workshop covers the most commonly used market sizing techniques, including the top-down approach, bottom-up approach, regression analysis, and expert opinions.

4. Market forecasting: The workshop covers the process of market forecasting, including the use of historical data, trends analysis, and scenario planning.

5. Validation and interpretation: The workshop covers the process of validating and interpreting market size estimates, including the use of sensitivity analysis and benchmarking.

The benefits of attending the Market Size Estimation Workshop are numerous. Businesses that attend the workshop will gain a deeper understanding of their target market, which will enable them to make better-informed decisions about their products or services. The workshop will also help businesses identify new opportunities for growth and development.

Another benefit of the workshop is that it provides businesses with the skills and knowledge they need to conduct their own market sizing and forecasting. 

The Market Size Estimation Workshop offered by Market Research Universe is an excellent opportunity for businesses to gain a deeper understanding of their target market. The workshop covers a wide range of topics and provides attendees with the skills and knowledge they need to conduct their own market sizing and forecasting. Businesses that attend the workshop will be better equipped to make informed decisions about their products or services, identify new opportunities for growth, and stay ahead of their competition.

Join the India’s first practical and live mentorship online workshop in Market Size Estimation (Market Engineering).

Attend 5 days LIVE training sessions with industry experts.

Register the Market Size Estimation Workshop @ https://www.marketresearchuniverse.com/market-size-estimation-workshop

Contact Us: +91-9811025630, Email: explore@marketresearchuniverse.com

Starting a business can be an exciting but challenging endeavor. As a startup business owner, you need to ensure that you are making informed decisions based on the best available information. One way to do this is through market research. Market research is a process of collecting and analyzing data about potential customers, competitors, and market trends. It is a critical tool for startup businesses that want to succeed in a highly competitive market.

Here are some reasons why market research is important for startup businesses:

1. Identify customer needs and preferences

Market research helps startups to identify their target audience and understand their needs, preferences, and buying habits. This information is essential for developing products or services that are tailored to the needs of customers. By understanding customer needs and preferences, startups can create a unique value proposition and differentiate themselves from competitors.

2. Understand market trends

Market research provides startups with insights into current and future market trends. This information is essential for identifying new opportunities, staying ahead of competitors, and adapting to changing market conditions. Market trends can also help startups to identify potential threats to their business and develop strategies to mitigate risks.

3. Assess competition

Market research enables startups to identify their competitors, their strengths and weaknesses, and their market share. This information is crucial for developing competitive strategies and differentiating the startup from its competitors. By understanding the competitive landscape, startups can develop a unique selling proposition and position themselves as a better alternative to their competitors.

4. Estimate demand and pricing

Market research helps startups to estimate the demand for their products or services and determine the optimal pricing strategy. This information is critical for startups to ensure they are pricing their products or services appropriately and maximizing revenue. By understanding demand and pricing, startups can make informed decisions about their marketing and sales efforts.

5. Mitigate risks

Market research helps startups to identify potential risks and challenges that may affect their business. This information is essential for developing risk mitigation strategies and making informed decisions about investments and resource allocation. By identifying potential risks early, startups can develop strategies to mitigate those risks and avoid potential pitfalls.

In conclusion, market research is a critical tool for startup businesses that want to succeed in a highly competitive market. By conducting thorough market research, startups can reduce risks, increase opportunities, and make informed decisions about their business strategy, product development, marketing, and sales efforts. Startups that invest in market research are more likely to succeed and thrive in a highly competitive market. 

Get Free Market Research Consultation for Your Startup Business

Contact Us: +91-9811025630 , Email: explore@marketresearchuniverse.com

Visit Us@ https://www.marketresearchuniverse.com/startup-fish

StartupFish helps early-stage start-ups and aspiring entrepreneurs to comprehend the nuances of entrepreneurship while focusing consumer research, verifying the existence of challenges, and creating sustainable companies.

A first-generation entrepreneur must be brave to embark on the challenge of starting a business. Creative entrepreneurs with original concepts sometimes have difficulty determining the demands of the market and developing a sustainable business. Since they don't comprehend the market need, studies have revealed that 80% of businesses fail in their initial stages. Entrepreneurs may reduce risks and improve success rates by receiving the proper entrepreneurship training and startup coaching. 

Market Research is a critical function for businesses to gain insights and make informed decisions. It involves collecting, analyzing, and interpreting data to understand consumer behavior, market trends, and competitive landscapes. To excel in this field, it is essential to have a strong foundation in market research methodologies, techniques, and tools. Market Research Universe offers a range of comprehensive courses designed for individuals who want to enhance their market research skills or pursue a career in this dynamic field. Let's explore the various market research courses offered by Market Research Universe.

Market Research Fundamentals: This course provides a solid introduction to the fundamental concepts and principles of market research. It covers topics such as research design, data collection methods, data analysis, and report writing. Participants learn the basics of market research methodologies, techniques, and best practices, providing them with a strong foundation to start their market research journey.

Advanced Market Research: Building on the fundamentals, this course dives deeper into advanced market research topics. It covers advanced statistical techniques, qualitative research methods, market segmentation, consumer behavior, and data visualization. Participants gain a deeper understanding of the complexities of market research and learn advanced techniques to analyze data and derive meaningful insights.

Quantitative Market Research: This course focuses specifically on quantitative market research, which involves collecting and analyzing numerical data. It covers topics such as survey design, sampling techniques, questionnaire development, data analysis using statistical tools, and interpretation of findings. Participants learn how to design and conduct quantitative research projects, analyze data using statistical techniques, and draw meaningful conclusions from the findings.

Qualitative Market Research: This course focuses on qualitative market research, which involves collecting and analyzing non-numerical data. It covers topics such as focus groups, in-depth interviews, observation, content analysis, and thematic analysis. Participants learn how to design and conduct qualitative research projects, analyze qualitative data, and interpret findings to generate insights.

Market Research Tools and Technologies: This course provides hands-on training on popular market research tools and technologies used in the industry. Participants learn how to use market research software, data analysis tools, survey platforms, and data visualization tools to conduct market research projects effectively. The course covers practical aspects of using these tools and technologies, allowing participants to develop proficiency in their usage.

Customized Courses: Market Research Universe also offers customized courses tailored to specific needs and requirements of organizations or individuals. These courses can be designed to cover specific topics, techniques, or tools based on the unique requirements of the participants. Customized courses provide flexibility and allow participants to focus on specific areas of interest or expertise.

Key Features of Market Research Universe's Courses:

Expert Faculty: All courses offered by Market Research Universe are facilitated by experienced market research professionals with extensive industry knowledge. The faculty provides expert guidance, mentorship, and feedback, ensuring a rich learning experience for participants.

Practical Learning: The courses emphasize practical learning through real-world case studies, hands-on exercises, and industry projects. Participants get to work with real data, analyze findings, and derive actionable insights, allowing them to develop practical skills that can be directly applied in their market research projects.

Flexibility: Market Research Universe's courses are designed to be flexible, allowing participants to learn at their own pace and convenience. The courses are available online, providing the flexibility to access the course materials from anywhere, at any time. Participants can choose to enroll in individual courses or opt for a bundled course package based on their learning needs.

Networking Opportunities: Market Research Universe's courses provide participants with networking opportunities. Participants can interact with fellow participants, faculty, and industry experts, fostering meaningful connections that can lead to professional collaborations and career opportunities.

MARKET RESEARCH COURSES & TRAINING PROGRAMMES:

Explore more about our Market Research Courses and Practical Trainings

@ https://www.marketresearchuniverse.com/market-research-academy

Contact Us: +91-9811025630

Email: explore@marketresearchuniverse.com

The impact of COVID-19 on market research sector is obviously very different compared to other business sectors. Market research industry will see staggering growth in these turbulent days. In Asia-Pacific countries, market research sector has huge potential across varied nations. India is intellectually developed country with good research and development base, especially in the field of scientific development; Indian researchers has prominent role, with this potential there will be tremendous growth in market research sector as well as with emerging  business and technological solutions. After this pandemic, all primary, secondary and tertiary business sectors will re-enter to market aggressively to handle the losses faced, they need a better business solutions for quick business recoveries, so for Indian market research sector it will be a major business point for emerging as a global market research hub.  The global market research industry is expected to grow at a CAGR of 6.5% over the forecast period, 2021-2030, as per future analysis by MRU. Hence post pandemic and years ahead this sector will boom with huge profits and endless opportunities.

Market Research Industry Size & Potential

The global market research industry size was registered at $75.8 Billion in 2019 but the present Covid-19 pandemic and the current global economic crisis would force the industry to negative growth at around YOY of -2%. But the market research industry is projected to grow with a positive pace on the post COVID-19 pandemic days, as the manufacturing industry and all other industry resume their operation after the lockdown period to overcome their revenue challenges. Moreover, the increasing investment in market research tools and technology is likely to promulgate the market research industry over the future period.  The market research industry is estimated to grow at a CAGR of 6.5% over the forecast period, 2021-2030. Hence the post pandemic and years ahead this sector will boom with huge profits and endless opportunities.

Global leaders of the market research industry include Nielsen, Kantar, IQVIA, IPSOS, GfK Group, Gartner, etc. Nielsen, headquartered in New York City, was by far the largest market research company worldwide in terms of revenue till now.

The size of market research industry in US has grown up to 1.1% per year on average of five years from 2015 to 2020. United States has been reported as the largest market contributing to 45% share for this sector. UK has nearly 17% share currently and may decline up to 3% this year depending upon current situations. In the present years, China, India and Asia pacific regions are showing rapid increase in this sector. According to a latest global survey Asia-pacific region accounts to 6 billion USD for market research industry. Among the Asian countries china is much forward in offering market research services, industry revenues are increased to 9.7% annually over a period of five years. China is a hub for many businesses within the country; especially manufacturing sector, this sector contributes to nearly 40 % of country’s annual GDP, and also creates huge employment opportunities across the world.

Many Indian companies are investing in market research before starting new business. Several multinational corporations are outsourcing there market research functions to Indian companies which are know expanding widely within the country. Hence, many new employment opportunities are rising in India around in this sector with new challenges and with latest technologies.

Impact of COVID-19 on Market Research Sector:

Corona virus is certainly impacting everything in the society. It has led to many disruptions in human life and every service. Many business sectors including automobiles, tourism, airlines, FMCG, textile industries, real estate segments, food chains has faced massive hit with uneven cash flows. Especially daily wage labor and street vendors are suffering more for survival in these pandemic days. But what about its impact on market research sector?

The impact is certainly very different when compared to many other businesses. As known market research is classified into two segments mainly primary research and secondary research, the primary research generally includes in-person interviews and surveys, due to physical distancing this field of research is facing service disruptions. Online researching (i.e. computer mediated communication) is doing quite better market with ease of access. The most common type of quantitative research conducted globally were online surveys, which in a 2019 survey were found to comprise around 80 percent of the quantitative research. In the same survey, phone and face-to-face interviews each accounted for 30% and 23% respectively.

Notably, research on health care related studies is dominating the market and is booming well especially during these turbulent days. Some industries namely pharmaceuticals, sanitary & cleaning, digital products, e-commerce, insurance, stock market investing, online coaching & training, media, entertainment and renewable energy sectors are doing quite well business these days.

Entertainment industry with strong digital presence like Netflix, Amazon prime and technology companies aiding the operations of workplace through video calling apps are growing significantly in this crisis.  Sectors like Groceries, Sanitary & cleaning, Food and beverages, wholesaling are set to increase due to the pandemic.  The corona virus scare has created a huge awareness on hand washing and there is a growing consumers’ inclination towards disinfectants and sanitary products. While some industries are growing with new opportunities, some are stalled and reeling under the lockdown. Tourism and travel industry are completely out of business due to social distancing and travel restrictions. The airline companies, tourism related businesses are losing revenue due to the COVID-19 pandemic. Manufacturing sectors are also being closed and the productions are paused due to workers being quarantined in their homes. The agriculture sector is experiencing shortage of labor and fall in agricultural commodity prices. Banking and financial institution will be having hard time in collecting their dues and will be renegotiating credit terms. Banks also won’t be able to gain new deposits during this crisis and thereby affecting its earnings. 

POTENTIAL RECOVERY PATHS FROM COVID-19 PANDEMIC

The COVID-19 pandemic and the global economic crisis could recover in the potential paths such as U, V or L shaped curve.  The V shaped curve represents the return of the GDP to the earlier pre-crisis level after a dip in the growth rate. The U-shaped path is when the actual growth rate falls and recovers to the pre-crisis level, but the GDP remains below the previous trend. The L-shaped path is when the growth rate declines and remains below the earlier level for a prolonged period. The GDP falls substantially below the pre-crisis trend and stays there.

What the economy is facing now is completely different from what happened in 2008 recession.  The problem in 2008 was a banking crisis as there was too much bad debt but what the economy facing now in 2020 is severe disruption in economic activity as we are stalling operations of everything from manufacturing to services. Though it is unlikely the present recession to go into depression as the economic inactivity is likely to persist only for a short time and may resume after the corona virus is contained and are in controllable levels. How long the economic inactivity persists, and other indicators like distress in credit market, inflation rate and bankruptcies will determine the recovery of the global economy.

According to Market Research Universe (MRU), the potential path to recovery is expected to be U-shaped curve with 60% probability.  As the economy is experiencing both demand and supply shock, the growth rate is expected to recover slowly post the pandemic period. The growth rate will recover alongside with the demand as the relaxation on lockdown measures is likely to create demand. When lockdown is relaxed, people will start working on their unfinished business. For example, scheduled business meetings, planned vacation trips and social events are more likely to resume after the crisis. But these will not happen quickly after the lockdown are lifted as businesses need time to regenerate sufficient cash flows and revenue to go ahead in making important decisions. Therefore, the growth potential is expected to remain lower than the pre-crisis level as there will be significant business failures, unemployment and losses during the pandemic. The return to earlier growth trend poses challenges as the operations of business are expected to drastically change in the coming years. Many companies may go bankrupt and the management’s operations will be distracted by focusing on securing employment. New business expansion plans will be postponed. Time to rebuild the credit facilities, re-establishing client or consumer relationships and rehiring employees after layoffs is expected to delay the growth pace. Moreover, even if the lockdowns are lifted social distancing, limits on travelling is likely to continue. It is unlikely that almost all restaurants, hotels can operate at half capacity. For instance, South Korea is a great example in observing the recovery path, as the country still imposing restrictions in social gatherings and schools being postponed. These restrictions are therefore likely to slow down the growth rate from recovering.

Trends of market research sector on post pandemic period:

Market research sector has positive boom over past five years. Many countries such as India, China, Japan, Brazil has increasing demand for this services. Europe and United states is already leading the sector. Many innovations are being done in this sector which rapidly increases potential revenue in future.  Market research sector will grow with positive pace after post pandemic days, as businesses revive with new investments. Due to Covid-19, every industry from small scale to large scale are facing similar challenges. Especially if we consider manufacturing sector, it accounts for nearly 16 % of global GDP, market research plays crucial role in this sector, it helps manufacturers understands buyer perspective, due to lock down this sector is facing lack of investments, which in turn affected market research sector too. Post pandemic as manufacturers revives day-to-day economic activities money flows, which culminates to the sustainability of market research sector.

Future prospects of market research sector:

The Future of Market Research Industry has full of opportunities. Since technology is playing a huge role especially AI and big data analytics, there would be massive growth inclined with sector. In fact companies are investing in better market research technologies world-wide. The incorporation of digital tools helps in a unique way to process the data, due to new innovations and technology adoptions. Significantly, in the fields of quantitative and qualitative research, use of latest techniques like QR Code Surveys, bio-metric research method etc. will boost the market research sector. This sector has lot of employment opportunities in near future as emerging demand which will promotes better economy.

The need for market research training program will intensify

While the fundamentals of market research remain the same, the introduction of new technologies and techniques means that market researchers are never done learning. And as experienced market researchers retire and more young professionals enter the field, the demand for ongoing training will only grow. As new blood comes into the industry, the need to shorten the learning curve will become imperative. Trade bodies, educational programs, universities, training institutions, and trusted individual educators will be very much in demand to help address this need.

MRU’s “Entrepreneurship in Independent Market Research” Training Program

Depending on various factors including the COVID-19 pandemic situation, global economic crisis, unemployment, and future scope of market research industry, Market Research Universe (MRU) pioneered an unique training program in independent market research and entrepreneurship to bridge the gap of unemployment and promoting the independent market research/ high profile independent profession/ high ticket freelancing work in India as well as the world.

MRU offering the Entrepreneurship training program within a minimum price, so that anyone who is really passionate and want to be independent and self-employed, can start high profile independent profession / entrepreneurship career in market research & consulting industry.

MRU very strongly believes that Women Entrepreneurship Development is a very necessity in nation towards a developed nation, so on with our nation India too. Looking forward on Women Entrepreneurship in India, MRU designed a customized training program for single women and as well as for the married women, so that they can operate from home and become an independent women by starting the high profile independent profession/freelancing in market research & consulting or taking the MRU’s agency for entrepreneurship in Independent Market Research.  

Moreover, MRU also have some social causes behind the training program. We believe in social entrepreneurship. Which is why, MRU offers a price consideration for financially poor but intelligent students in India. 3-5% of MRU’s training section’s business profit directly goes to the education development for all the financially handicapped people in India.

Market Research Academy (MRA)

Market Research Academy (MRA) is the training division of Market Research Universe (MRU), which offers India’s first practical and live project oriented market research online training program with 100% placement assistance and corporate reference letter. Enroll in the top practical and live project oriented training program at affordable prices. We help students to start their career in the booming and in-demand market research industry. Market Research Academy (MRA) prepares the student for the industry by giving them knowledge of several research techniques, and strategies of professional market research.

Market Research Training Program is India’s first practical and live project oriented online market research training program offered by MRA. Moreover, our curriculum been structured according to the individual requirements of professionals, business owners and job seekers. Our market research courses are practical oriented and give students the chance to work on live projects. Thus, students get a hands-on experience of the roles and responsibilities of a market research associate/ analyst.

Furthermore, Market Research Academy (MRA) also giving placement assistance and corporate reference letter to all the students. We also provide lifetime support to students after the completion of the training program. With the industry growing at an exponential rate, students will get innumerable job opportunities in the industry. Also, our courses help businesses to maintain a strong presence on market research. Therefore, we build successful careers in market research and business consulting industry with our practical oriented market research training program.

To know more about the training program, please visit our site@ www.marketresearchuniverse.com

Mail: explore@marketresearchuniverse.com

Contact: (India) 9871387806

Direct link: https://www.marketresearchuniverse.com/market-research-academy

 

Introduction: The COVID-19 pandemic is going to be the longest health crisis ever being suffered in the modern times. The pandemic has disrupted global supply chains and international trade. More than 100 countries are closing their national borders and the movement of people has come to a screeching halt. The pause in the movement of people is greatly affecting the world economy, as people are staying indoors and major industrial productions has come to a grounding halt. According to an analysis by the UN Department of Economic and Social affairs, the global economy could shrink by upto 1% in 2020 due to the coronavirus pandemic which is lower than the previous forecast of 2.5% growth. The UN also added that the global economy could contract even further if restrictions on economic activities are extended without any adequate fiscal responses.

The coronavirus pandemic is affecting the overall growth of global economy. Some industries are booming in the event of crisis such as Technology, Entertainment industry. Entertainment industry with strong digital presence like Netflix, Amazon prime and technology companies aiding the operations of workplace like videocalling app Zoom are growing significantly in this crisis.  Sectors like Groceries, Sanitary & cleaning, Food and beverages, Wholesaling are set to increase due to the pandemic.  The corona virus scare has created a huge awareness on hand washing and there is a growing consumers’ inclination towards disinfectants and sanitary products. While some industries are growing with new opportunities, some are stalled and reeling under the lockdown. Tourism and travel industry are completely out of business due to social distancing and travel restrictions. Almost 100 countries over the world have closed their borders and airports have been shut-down for passengers. The airline companies, tourism related business are losing revenue due to the COVID-19 pandemic. Manufacturing sectors are also being closed and the productions are paused due to workers being quarantined in their homes. The agriculture sector is experiencing shortage of labor and fall in agricultural commodity prices. Banking and financial institution will be having hard time in collecting their dues and will be renegotiating credit terms. Banks also won’t be able to gain new deposits during this crisis and thereby affecting its earnings. 

       

POTENTIAL RECOVERY PATHS FROM COVID-19 PANDEMIC

The COVID-19 pandemic and the global economic crisis could recover in the potential paths such as U, V or L shaped curve.  The V shaped curve represents the return of the GDP to the earlier pre-crisis level after a dip in the growth rate. The U-shaped path is when the actual growth rate falls and recovers to the pre-crisis level, but the GDP remains below the previous trend. The L-shaped path is when the growth rate declines and remains below the earlier level for a prolonged period. The GDP falls substantially below the pre-crisis trend and stays there.

Three Potential Paths to Recovery from Coronavirus (COVID-19) 

What the economy is facing now is completely different from what happened in 2008 recession.  The problem in 2008 was a banking crisis as there was too much bad debt but what the economy facing now in 2020 is severe disruption in economic activity as we are stalling operations of everything from manufacturing to services. Though it is unlikely the present recession to go into depression as the economic inactivity is likely to persist only for a short time and may resume after the corona virus is contained and are in controllable levels. How long the economic inactivity persists, and other indicators like distress in credit market, inflation rate and bankruptcies will determine the recovery of the global economy.

According to Market Research Universe, the potential path to recovery is expected to be u-shaped curve with 60% probability.  As the economy is experiencing both demand and supply shock, the growth rate is expected to recover slowly post the pandemic period. The growth rate will recover alongside with the demand as the relaxation on lockdown measures is likely to create demand. When lockdown is relaxed, people will start working on their unfinished business. For example, scheduled business meetings, planned vacation trips and social events are more likely to resume after the crisis. But these will not happen quickly after the lockdown are lifted as businesses need time to regenerate sufficient cash flows and revenue to go ahead in making important decisions. Therefore, the growth potential is expected to remain lower than the pre-crisis level as there will be significant business failures, unemployment and losses during the pandemic. The return to earlier growth trend poses challenges as the operations of business are expected to drastically change in the coming years. Many companies may go bankrupt and the management’s operations will be distracted by focusing on securing employment. New business expansion plans will be postponed. Time to rebuild the credit facilities, re-establishing client or consumer relationships and rehiring employees after layoffs is expected to delay the growth pace. Moreover, even if the lockdowns are lifted social distancing, limits on travelling is likely to continue. It is unlikely that almost all restaurants, hotels can operate at half capacity. For instance, South Korea is a great example in observing the recovery path, as the country still imposing restrictions in social gatherings and schools being postponed. These restrictions are therefore likely to slow down the growth rate from recovering.

IMPACT OF CORONA VIRUS (COVID-19) ON VARIOUS INDUSTRIES

• Healthcare: COVID-19 Impact on Health Care Industry

The health Care industry is experiencing surge in demand for medical supplies due to the pandemic. The demand for essential medical supplies like Masks, protective clothing, hand sanitizers, ventilators are expected to grow enormously. As major countries have expanded their production capacity, the market for medical supplies is expected to grow. According to MARGMA, the demand for medical gloves is expected to jump from 298 billion pieces in 2019 to 345 billion pieces in 2020.

Testing kits for COVID-19 is on huge demand after the virus started to spread rapidly across the world.  According to Market Research Universe, COVID-19 Testing Kits market is expected to grow with a rapid pace over the forecast period. Medical device producers have expanded their production levels of corona virus kit to meet the increasing demand. The market for Hydroxychloroquine is also expected to expand significantly in the coming years as the drug is believed to cure Corona Virus. As per the study, the Hydroxychloroquine is expected to grow over 30% in the next few years.

The telehealth service segment is expected to benefit from the ongoing pandemic as hospitals are treating corona virus affected patients as their priority. Other sick patients may switch to telehealth service as they will avoid going to hospitals during the lockdown.

 Various governments across the world are encouraging healthcare apps to aid the general public in assessing their risk during the pandemic. In India, the government with the public private partnership built an app called AarogyaSetu which will help public in identifying the risk of getting affected by the Corona Virus.

According to the market study by Market Research Universe, investments in orphan drugs are expected to grow due to the pandemic. Global orphan drugs market is expected to grow during the next few years. The present healthcare crisis is expected to change the investment trend in healthcare particularly in R&D activities in communicable diseases. Moreover, in the light of present health crisis, the World Medical Association has stressed the importance of producing medical supplies in the home country as the global market is dependent on limited manufacturers.

Therefore the overall health care industry is expected to grow at a CAGR of 16% in the coming years as the present health crisis due to pandemic is expected to restructure the health care sector.

Financial institutions are majorly impacted by the fall in demand for loans as consumers spending rate is slumped drastically. Credit card issuers are expected to have lower transaction volumes due to reduced consumer spending. Moreover, interest rate cuts in major central banks are expected to disrupt the revenue growth of the financial institutions. Companies involving in investment banking will see reduced initial public underwriting due to market volatility and therefore their revenues will take toll.  Many firms have postponed their plans of going public due to market volatility makes deals difficult to price.

However, open end mutual funds, exchange traded funds, fixed income assets have become attractive to investors in this time of crisis. Many financial asset investors have moved their large part of their funds into fixed income assets, exchange traded funds and other safe havens like gold, US treasury and US dollars.

Gold prices have been increasing in last three months as investors started diversifying their stock heavy portfolio. According to World Gold Council, global gold-backed ETFs added 298 tones in the first quarter of 2020 which is said to be the largest tonnage additions since 2016.

In Insurance sector, Health Insurance market is said to grow at a CAGR of 9% in the coming years. People are increasingly inquiring about health policies in the light of the pandemic. Many insured people are reaching out to insurers to inquire about whether their policy covers COVID-19.  According to PolicyBazaar, customer inquiries on their health policies rose nearly 30-40% compared to pre-pandemic.

The impact of Corona virus in Information and Technology sector is minimal. Adoption of technology has become significant in this time of crisis. Business integrated with digital technology has better chance of survival. For instance, restaurants with online delivery service are faring well during the lockdown. As people are restricted to gather in large numbers, ordering food online has increased. Moreover, people are getting used to buying groceries online. Major online food delivery companies like Ubereats, Zomato and Swiggy are delivering groceries during the COVID-19 crisis. According to Ubereats, the company’s sales went up about 350% compared with pre-pandemic levels. The e-commerce companies are expanding their reach to towns and cities in delivering essential items and groceries as consumption trends are shifting more towards online. According to the analysis of Market Research Universe, the percentage of online grocery shopping grew from 12% in August 2019 to 33% in March 2020.

As lockdown is being imposed in many countries to contain the spread of the virus, remote working is becoming more common among businesses. Many firms which were reluctant to implement work from home are vigorously implementing these policies due to the lockdown. Work from home has positively impacted the Information and Technology sector as companies are increasingly adopting cloud based softwares.

The demand for the cloud based softwares such as Microsoft Teams, Google’s GSuite , Skype for Business are increasing. The revenue flows for the IT companies are expected to grow around 18% in the medium term due to increasing adoption of cloud based software.

The techno giants Apple and Google are also launching applications to help identify infection risks during the pandemic. The two companies announced a system for tracking the spread of corona virus using data through Bluetooth Low Energy (BLE) transmissions and approved apps from health organizations. The pandemic has made business units to realize the importance of IT expenditure. But however, theIT spending is expected to buffer and decrease by 2% in the present year 2020 due to the crisis.

The overall Information and Technology Industry is expected to grow over 7% CAGR in the coming years.  As there will be more businesses entering into the digital world, the market is expected to grow later in the year.

The Utilities sector experiences medium risks as residential demand is expected to increase in the next few months. The disruption in supply chain is also minimal. But there is a overall decline in demand for electricity from commercial and industrial segments. The International Energy Agency estimates that the electricity demand will decline by around 15%.The prices of crude oil and thermal coal are expected to drop. The declining demand for electricity has caused carbon prices in the EU Emissions Trading Scheme (ETS) to reach 16-month lows, falling to approximately US$17.70 per tonne at 18 March. This has reduced the cost of fossil-fuel generation. However, renewables prices are also expected to have declined, due to the fall in oil prices and weak electricity demand.

According to the study by Market Research Universe, Global Solar demand is expected to be around 100-150 Gig watts in 2020 which is said to be the first fall in annual capacity additions in the last three decades. Global wind sector is expected to fare better than solar due to its tight delivery and specialized equipment being rented for limited time. The global wind capacity development is expected to be around 80 GW in 2021. The overall Renewable Energy market is expected to slow down due to the pandemic but the post-pandemic market is expected to grow over a CAGR 5.5% in the coming years.

• Mining

The Mining sector is highly globalized and dependent on commodity prices. The curtailment of global manufacturing activities has led to reduction of commodity prices particularly for copper, crude oil, iron ore and other industrial commodities. As major mines are all closed due to the pandemic, some mining operators are experimenting autonomous mining technologies to replace workers. Although autonomous mining technologies have already being in development, mining operators are increasingly showing interest towards these technologies after the lockdown as investments are being made in autonomous mining technologies.

The Gold ore mining industry is expected to be positively impacted by the COVID-19 as the crisis has led investors to look for safe haven in gold and other precious metals. Investors who prefer to reduce their risk exposure are more likely to diversify their portfolio with gold and other precious metals. The price of gold is expected to rise as the demand is rising.

The industry is hard hit as there is low demand for oil and gas due to travel restrictions. According to the International Energy Association, the demand for global oil demand is expected to decline in 2020 as COVID-19 spreads across the world. There is a severe supply- demand imbalance and the acute oversupply of oil will test the limits of crude and oil storage. Producers are in great pressure to maintain a positive cash flow and limit spending. The Natural gas is also trading at its lowest price since March 2016.

The global Oil and gas industry reached around USD 3.3 trillion in 2019.  According to Market Research Universe, the oil and gas industry is expected to contract in 2020 and rebound sharply in 2021. The oil demand during 2020 to 2025 is expected to grow at an average annual rate of just below 1 million barrels a day. 70% of the demand is expected from Asia Pacific economies post pandemic. The oil production capacity is expected to grow around 5 million barrels a day with 60% of it coming from non-OPEC producers. The production growth in the United States and other non-OPEC countries is expected to slow down.

The temporary lockdown of many manufacturing units is expected to disrupt the supply chain in retailing. Non-essential retailers are worst hit as they are expected to close their stores due to new restrictions.  Non-essential retailers with online stores still take orders and deliver after restrictions are relaxed. But small non-essential retailers are expected to be affected badly and may exit. The wages and number of employees are expected to decrease in non- essential retail such as clothing stores layoff staffs due to prolonged lockdown.

Essential retailers like food and beverage retailers, supermarkets, drugstores are experiencing minimal risks. In many cases, there is a significant increase in sale of essential items due to hoarding. According to the Confederation of British Industry (CBI), there is a surge in food and drinks as people stockpiled ahead of quarantine measures, while spending on non-essential items slumped.

The study notes that the consumer spending is expected to slow down from 2.5% in 2019 to 2% in 2020. However, online shopping is expected to grow in the coming years as more number of people are becoming more comfortable to buy groceries online. According to the study, percentage of online grocery spending in US is expected to grow from 6.4% in 2019 to 7.5% in 2020.

According to analysts from Market Research Universe, supporting smaller retailers, especially businesses affected by the non-essential activity restrictions in their loan deferral and easing their access to additional credit can greatly help the industry to get back to the growth track.

The overall retail industry is expected to grow at a CAGR of 12%. As more and more retailers are expected to go digital and explore e-ecommerce in the coming years, the industry is expected to grow significantly.

The Aviation industry is severely impacted by the COVID-19 pandemic as it is losing its revenue due to closure of national borders and travel restrictions. The airlines have already experienced a major drop in its traffic on their highest-profit international routes especially in Asia–Pacific. The industry is expected to miss the summer peak travel season. Some airlines are expected to become bankrupt particularly which are in less advanced economies. FlyBe , the UK regional carrier which has become bankrupt due to the pandemic is an early example. Indigo, the largest air carrier in India is said to have cut its senior management salary due to loss of revenue. According to International Air Transport Association, the aviation industry is estimated to have a revenue loss of US$ 314 billion in 2020. Paycuts and consolidation are expected to happen in this industry due to the impact of corana virus.

According the study by Market Research Universe, the global aviation industry is expected to grow at CAGR of around 3.1% during 2020-2022. The revenue is expected to fall from USD 838 million in 2019 to USD 524 million in 2020.  

According to the study, consolidation across the sector can reduce the burden of losses and airline companies with tight cash flows can survive the crisis. However, declining fuel prices can induce the growth of the industry by cutting its fuel costs.

Automotive industry like any other industry is not immune to the economic crisis due to the pandemic. Major vehicle manufacturers have closed their operations temporarily due to the lockdown. Revenues are expected to fall as there is no sale of vehicles taking place. However, major auto manufacturers have started producing ventilators in their production facilities. Major players like Honda and Ford are in talks with UK government in producing ventilators. In China, BYD have already started producing disinfectants and face masks to battle the spread of corona virus.

The study notes that the global auto sales is expected to fall more than 13 percent from 2019 to around 79.42 million units which is said to worse than the financial crisis in 2008. The industry is likely to recover very limitedly in the year 2021 at a rate of around 1.5%. The drop in sales may create high credit pressures to manufacturers and suppliers and is likely to test the liquidity positions of the automakers. The production rate may gradually recover depending on the recovery of supply chain and demand.

Real estate industry is expected to be impacted negatively due to uncertainty in the market. Consumers are unlikely to buy and sell houses during the lockdown. This can affect retailers and service providers severely and some may even go out of business due to reduced consumer spending. Revenue flows of Real estate brokerage firms will be affected due to social distancing as buyers may delay their home purchases. Firms with liquidity problems may suffer most in this crisis. The demand for commercial and residential leases is expected to drop drastically.  Property listing websites like Zoopla reported 40% drop in demand in March 2020 and it is predicting that the housing transactions would drop by 60% over the next three years.

Global Real Estate Market is expected to decline around 20-30% in 2020 due to fall in demand. Thereafter it is expected to grow slowly around 1.5% over the next few years.

According to Market Research Universe, monetary and fiscal stimulus can greatly help the industry to survive. Declining interest rates may attract prospective consumers to enter the real estate. Providing loan relief to real estate operators especially those in commercial segment can greatly benefit the industry. Moreover, government proposing mandatory code on rent reductions, freezes on rent increases and prohibiting the termination of leases for non-payment of rent like the guidelines made in Australia will remove the growth constraints from the industry.

The Agriculture industry is expected to be impacted by the corona virus pandemic in the medium term. According to UNFAO, there are adequate food to combat the crisis. But problems in production are disrupted due to the lockdown. Though the industry is labeled as essential service, the supply chain and logistics barrier pose a huge disadvantage. The labor intensive sectors in the industry such as tea plantations, meat processing is believed to take a hit. As social distancing and lockdown prevents laborers from working, the agricultural production may go down. Many farmers face labor shortages as a result of the pandemic. Countries where agricultural items are mostly procured through exports are expected to experience sever shortages due to supply chain disruptions. Though countries which are self-sufficient in their agricultural production may not be affected badly, but the declining production levels may cause serious food shortages across the world in the coming years. According to UN Food and Agriculture Organization, the world would risk a looming food crisis unless measures are taken to keep global food supply chain alive.

The prices for higher value products like meat and perishable commodities are more likely to jump. The farmers may suffer potential loss as there will be wastages as perishable items like fruits, vegetables, flowers harvested during this period may not be able to find a potential market due to the pandemic.

According to Market Research Universe, the prices of agricultural products is expected to recover from the fall in 2021. Once the supply chain disruptions are cleared, prices are expected to rebound. The global agriculture industry is expected to grow at CAGR of 1.5% over the next few years.

• Tourism

The Tourism industry is the most affected industry during the Corona virus pandemic.  As public private transports are restricted and national borders are closed across the world, tourism industry has almost completely stalled. The industry is expected to see huge revenue falls in this year 2020. Moreover, the tourism industry usually has a peak season during the summer months, as tourists throng to major sightseeing places to spend their vacation. The industry is said to miss the peak season due to lockdown. According to WTO, the global revenue for tourism and travel is expected to decline by around 20-30% from 2019. The industry is expected to recover in 3-4 months post corona virus under optimistic assumption.

According to Market Research Universe, Global Tourism Industry is forecasted to decline to USD 4 trillion in 2020 due to the corona virus pandemic and thereafter the market is expected to recover at growth rate of around 2%.

CONCLUSION: THE POST CORONAVIRUS (COVID-19) WORLD

There is no doubt that Corona virus pandemic will disrupt the world economy. The impact of the pandemic is said to change the industry landscape as many businesses will begin to reshape their strategies. Some industries may evolve by creating new markets and opportunities. The global supply chain will begin to diversify as relying on single country for everything from auto parts to medical supplies possess huge risks and uncertainty. Major business entities will diversify their production lines and this can pave way for new emerging manufacturing hubs. The significance of digital technology will be taken seriously by businesses. There will be lots of digital goods being created by business as there is huge opportunity to explore. Business which previously had in-person services will now start exploring virtual offerings. While Restaurants, hotels will look to diversify their revenue streams and food tech companies are expected to grow beyond food delivery. Governments across the world will be giving more attention to the health care system. Health care spending will become crucial in government operations and investments in clinical research will be encouraged more. 

Authored By,

Mirdul Amin Sarkar (Research Manager), Tamilarasi T (Research Analyst)

 

 

 

…Hey there,

-Are you a business owner?

-A Director at MNC or SME?

-Business Strategy Manager at MNC or SME?

-Investor in various industries?

If the Coronavirus (COVID-19) and the pandemic impacting your business a lot then this is the right time to U-turn. Before things got out of your control and become the depression, you should take an immediate and proper business strategy!

Let us help you to overcome the business crisis and make your business growing.

Get the strategic business solution. Contact us for a free 20 mins consultation.

Contact Details:

Email: explore@marketresearchuniverse.com

             mirdul@marketresearchuniverse.com

Contact: +91-9871387806 / 9811025630

Web: www.marketresearchuniverse.com

Toyota is collaborating with Joby Aviation to enable the deployment of fast, quiet and affordable air transportation services.

Toyota is exploring its urban air mobility business opportunities through collaboration with Joby Aviation, an aerospace company that is developing and commercializing all-electric vertical take-off and landing (eVTOL) aircraft. 

Toyota will be investing USD394 million in Joby and will share its expertise in manufacturing, quality and cost controls for the development and production of eVTOL aircraft. The aircraft will offer lower costs of maintenance, lower operating costs, and enhanced safety features.

Joby is well-positioned in the development of eVTOL aircraft which has a combination of small airplanes and helicopters, including zero emissions, high reliability, quiet operations, and fast flight speeds.

Industry Potential Analysis by Market Research Universe:

Rising demand for air taxis to escape the traffic in Urban roads is the key factor driving the growth of the Urban air mobility market. With growing urbanization, roads are flooded with taxis making commutation longer than expected. Air taxis are a promising solution to ease the travel. The advancement in battery technology and the autonomy of aircraft are highly influencing the growth of Urban Air Mobility (UAM) market globally. The autonomous UAM segment is likely to grow significantly during the forecasted period of 2020-27. eVTOLs are expected to be increasingly used in intercity transportation as there are growing investments in this segment.  

The urban air mobility market holds enormous opportunity as many automobile manufacturers have started investing in air taxis realizing its potential. Consumers’ acceptance and their demand for additional comfort features in air mobility is likely to influence the market in the coming years.

AIRT DRONERESPONDERS Focuses on Public Outreach and Drones For Good™ in 2020

DRONERESPONDERS is world’s fasted growing program supporting public safety.  The have developed partnership, alliances to create awareness on the use of drones of first responders.

For 2020, they are launching Drones For Good ™ focused on the uses of drones in emergency and public safety cases. They are set to demonstrate mapping of the disaster zone of Hurricane Dorian in the Bahamas,conducting public awareness campaigns with key partners, establishing safety standards for flight training and operations, and by helping to educate first responders at the DRONERESPONDERS Global Public Safety UAS Summit, which will take place at AUVSI XPONENTIAL 2020 in Boston.

Analysis from Market Research Universe: The rising internet and smartphone users will drive the global commercial drones market in the upcoming years.  Drones are increasingly used to monitor, survey and even deliver products door to door. Apart from photography and filming, drones are increasingly used in rescue operations and law enforcements.It is due to the ability of the drones to perform hazardous tasks such as inspecting places where humans cannot access with high precision have expanded the applications of drones. Moreover, the drones are cost effective compared to conventional flyers like helicopters. With advanced technology, drones are fitted with cameras and sensors to collect data and it is remotely controlled by software. It is widely used in agriculture and construction areas. The drones help in monitoring the crop management and thereby increase the productivity of the crops. In construction area, drones are deployed to inspect and track the project status and thereby reducing the cost and time.

Governments across the world have recognized the importance of drones and are increasingly deploying it in their governance process to simplify their work. In US, Drones are even used to track criminals. Moreover, governments across the world are reformulating their aviation policies in the event of increasing application of drones in commercial activities.

 

Improvements in AI technology and growing need for additional comfort in autonomous vehicles are the key factors that propelling the AI in Automotive Market

The AI in the global automotive market is likely to grow with a rapid pace. Much of the growth will be driven by the rising demand for additional comfort in autonomous vehicles and improved technology in Artificial intelligence.

Artificial intelligence is increasingly recognized in the Automotive market and major efforts are made to reduce human intervention in automotive. It also points out that AI in the automotive market can disrupt the industry and the labor market. High development costs and safety concerns are the major restraints affecting the growth of AI in the automotive market globally.

Software segment will grow significantly in the forecasted period of 2020-27. Increasing demand for image recognition software is a critical factor to induce growth. The image recognition software is increasingly used in factory automation and surveillance. Technologies like Machine learning and deep learning are expected to dominate the market. These technologies help to study human neurons and can mimic human behaviors. It is widely used in automated vehicle production. The deep learning with complex algorithms can pick signals and make on-road decisions. It is expected to significantly reduce errors in on-road decisions.

European and North American automotive market is dominating the world with its largest market share. Major Automotive companies in the region and their heavy investments in research and development of automotive vehicles are the reasons for the domination. Also, early adoption of technology and increasing demand for additional comforts in driving are impacting the market favorably.  

 

If there is any region which could use a mobility revolution, that is Southeast Asia. Traffic in emerging Southeast Asian countries has become synonymous with congestion and smog. In order to protect a greener and sustainable environment, the major countries and cities in this region are striving to adopt electric vehicle (EV) technology. As consumers are become environmentally conscious, the demand for EV has seen an uptick. Huge numbers of automotive companies are ready to transform and adopt electric vehicles, and some of them have already started by building components instead of the whole electric vehicle.

Congestion and deteriorating urban air quality are acute challenges faced by many South East Asia cities. With increasing urbanization and growing mobility needs, the demand for conventional fuel is expected to go through the roof as well, putting severe pressure on fuel import bills. EVs therefore, appear to be in the sweet spot of alleviating a slew of mobility issues. They have zero tailpipe emission, are virtually noiseless, and can reduce dependence on oil and utilize greener or locally available fuels.

Although EV uptake across South East Asia remains comparatively low, consumers are aware of the di­fferences in various EV technologies such as Battery Electric Vehicles (BEVs), Plug-in Hybrid Vehicles (PHEVs), Full Hybrid, and Nissan e-POWER vehicles. The highest association of EVs is for BEVs at 83%.

According to the recent study on Southeast Asian EV market by Market Research Universe, the association with BEVs is relatively weak in Thailand and Malaysia. This could be mainly due to the significant presence of full hybrids in Malaysia and Thailand which skews consumers’ association of EVs with Hybrids. On the other hand, respondents in Singapore, Indonesia, and Vietnam are more evolved in their association with BEVs.

According to the recent study on Southeast Asian EV market by Market Research Universe, there is significant latent demand for EVs across the markets. However, the current uptake rate is not a true reflection of this underlying demand. Of the 1,800 new car intenders surveyed, 37% revealed that they would certainly consider EVs when they make their next purchase decision. Respondents in the Philippines, Thailand, and Indonesia are the most eager to buy EVs.

Key Factors that Driving the Adoption of EVs

1. Benefits associated with commercial electric vehicles:

Better for the environment: Electric Vehicle helps to reduce harmful air pollution from exhaust emissions. An EV has zero exhaust emissions^. According to International Energy Agency, more than 20% of the CO2 global emissions can be reduced through the adoption of sustainable transportation systems. 

2. Battery Developments and Cost Reductions

• The development of batteries for consumer electronics provided invaluable experience for the production of lithium-ion (Li-ion) cells. It facilitated increased production and justified considerable investment in research and development, leading to significant cost reductions and improved performance.
• The impressive progress made in recent years to improve battery performance and reduced costs enabled the use of Li-ion batteries in the automotive sector, and key cost and performance drivers identified for the further improvement of Li-ion batteries include battery chemistry, energy storage capacity, manufacturing scale and charging speeds.
• The development in the battery performance further drives the electric vehicles market in the region

Indian Electric Vehicle Market Trends and Opportunity:

Electric Vehicle market in India is expected to grow with a CAGR over 37% during the forecast period 2019-2024. The Indian Electric Vehicle market is expected to reach over USD 2.5 billion by the end of 2024, owing increasing consumer inclination towards electric vehicles coupled with growing concerns associated with rising air pollution levels across the country. Rising number of R&D efforts by various leading automobile companies to develop more advanced, affordable and feature-rich electric vehicles also driving the market.

Government of India is regularly taking measures to push the adoption of cleaner vehicles in the country. The government provides various subsidies to electric vehicle buyers. In addition, increasing demand for electric vehicles is encouraging leading industry players to come up with new models.

Conclusion & Recommendation from Market Research Universe:

Electric vehicles may need policies driven by governments such as London’s ultra-low emission zone (ULEZ), which will now charge inefficient vehicles an entry fee to access the city of London. Following that, Vietnam government is looking at moving in this direction: to only allow electric vehicles on the roads of the cities.

However, there are some challenges to overcome before this region can truly adopt electric vehicle technology. The main barriers to adoption of electric vehicles in Southeast Asia are the higher rates of tax on electric vehicles, the lack of a charging infrastructure with convenient proximity and the limited driving range of the vehicles. Governmental intervention is the key to driving the growth of electric vehicles in ASEAN, at a level that ensures the deployment of a charging infrastructure. This infrastructure must hold fast to compatible standards, to support mass deployment.