The Hindu Business Line : ‘Market research can help find gaps in rivals’ tactics’

Manipal, Nov. 17 Students of T.A. Pai Institute of Management (TAPMI) at Manipal got some useful tips from the Chief General Manager of Gujarat Cooperative Milk Marketing Federation (GCMMF), Mr R.S. Sodhi, about market research in today’s competitive world, and how this tool helps market a product better.

The event was part of the 15th edition of marketing research fair BrandScan 2007.

Mr Sodhi said that market research could be used to help find gaps in the market mix of competitors and to form strategies to compete with them.

At the same time, market research could also be used as a tool to find gaps in the market mix of the company which is undertaking it. With this, the company under question can be better equipped whenever others try to enter its market.

Role of feedback

Highlighting the role of feedback in market research, he said that Amul ventured into the marketing of milk and milk-based products based on a market research finding, though there were pressures on it to enter other products such as rice and biscuit marketing.

Stating that milk products have enough potential in the country, he said Amul’s entry into the segment of milk and milk-based products proved right.

He cautioned that those undertaking market research should have a deep understanding of the company’s functioning as otherwise, they cannot provide vital suggestions for improvement.

Welcoming the gathering, Dr Nagabrahmam, Director of TAPMI, said that people can’t think of Manipal without BrandScan in November. This event has become so popular, he added.

Business Line is the print media partner for BrandScan 2007.

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