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Purvita Chatterjee

It expects to tap into segments such as apparel, financial services, automobiles and telecom to service its `rich' clients.

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Mumbai Feb. 21 Group M's marketing communications consultancy division — m Consult — is executing a consumer study on the luxury segment. Having clients wanting to enter the luxury segment in the country, the division is in the process of tying up with a market research agency with its research in this area.

Ms Juhi Ramakrishnan, Director, m Consult, told Business Line, "We are in the process of executing a luxury consumer study to get inputs on how this target segment behaves.''

Apart from aiding its own clients with the study, m Consult would be working with the Insights team of the respective Group M agencies to provide the high-end clients with solutions. Group M's agencies such as Mindshare, Maxxus, Media Edge, Media cia and Motivator, are expected to be given solutions while servicing their high-end clients with the help of m Consult.

Added Ms Ramakrishnan, "While the super rich segment has always existed, they had not come forward to choose the kind of products they wanted. Now with premium brands coming into the country, they have a choice about what to buy.''

M Consult expects to tap into segments such as apparel, financial services, automobiles and telecom to service its `rich' clients.

And the study is not just limited to the affluent class. There are local entrepreneurs who are looking at going premium with their offerings and are expecting research in this segment. As Ms Ramakrishnan says, "It is not just about the Tatas and the Birlas. There are new emerging segments such as the moneyed professional who is also asking the same questions about the luxury segment. This year the luxury segment is going to be high on our agenda.'' The year-old division of Group M has been offering marketing consultancy to entrepreneurs who want to offer niche products to high-end consumers.

Its client's would range from fashion brands such as Armani to the local Indian designer brand waiting to make a mark in the luxury segment.

"We already have a large quantitative data but now we will be topping it up with qualitative data and work on individual categories. We would be working with the Insight teams at Group M to come up with client specific solutions,'' says Ms Ramakrishnan. From studying the media consumption patterns to observing the behavioural patterns at the retail stores, m Consult would be offering solutions to its clients who want to tap into the luxury segment.

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