Outsource Trend Analysis and Gain an Accurate Outlook for the Future

Trend Analysis plays an extremely important and decisive part in the global business scenario. By analyzing the changing pattern of data, specific patterns are detected that are essential to running an organization and gauging other distinct environmental parameters that could affect a business. Indian outsourcing companies offer specialized resources and trained personnel to conduct the activities that are crucial to the success of an analysis. By outsourcing your Trend Analysis Services to India you will be equipped to make better analytical decisions which will help you decide in which direction your business should target its resources.

India companies employ various methods to collect and analyze data in order to obtain an accurate analysis. Some of the methods used are:

• Qualitative Method
• Quantitative Method
• Market Segmentation Method
• Market Basket Analysis Method
• Customer Churn Method
• Fraud Detection Method
• Direct and Interactive (web-based) Marketing Method

By employing the above methods Indian service providers will be able to accurately analyze, track and make predictions in the following areas.

• Trends in price change
• Changes and trends in customer needs and behavior
• Shifts in customers' perception of value
• Cost drivers for the industry and/or specific segments
• Upcoming business models
• Changing practices of the industry and related emerging sectors
• Change and evolution of the industry in terms of new entrants, competition, threat of substitutes
• Relationship with buyers and suppliers

With multiple benefits like the usage of the latest software, superior infrastructure and a talented workforce, outsourcing of your Trend Analysis Services to India will let you develop strategies that will help you gain a competitive and successful position in the market.

Outsource Competitor Analysis Services to India for Precise Competitor Knowledge

Competitor analysis, also known as competitive intelligence, plays an essential part in planning and executing a successful marketing strategy. It involves the collecting, analyzing and applying of information about the products, services, customers and pricing strategies of a competitor. Outsourcing your competitor analysis services to India will help you gain important insights into the strengths and weaknesses of competing products or services before launching your product or service or starting work on your own prototype.

Competitor analysis helps businesses in three ways, namely:

1. to understand the strengths, weaknesses, opportunities and threats (SWOT) relative to the competitor
2. to assess a competitors reaction to your business strategy
3. to analyze the past, present and future strategies of the competitor

Indian service providers assure you of high quality and accurate research by using qualitative and quantitative research methodologies for analyzing competitors. The qualitative method uses data derived from observation, interviews, documentation and other types of interactions with participants. The quantitative method uses numeric tabulation and statistical data derived through questionnaires or surveys. By the combined use of both methods, all questions about your competitors brand, USP, product or service features and other critical factors are effectively answered.

Specialized statistical analysis software such as SPSS (Statistical Package for the Social Sciences), SAS and Excel are used to make competitor analysis much more efficient. The software is endowed with specific multidimensional analysis features that help in the preparation of an accurate and effectual competitor analysis.

Outsourcing your competitor analysis services to India will establish your company’s position in the market space by letting you develop strategies based upon your competitors’ recent performance and current status.

Use Web Research for Accurate and Quality Content

Over the years, the web has become the biggest and most updated information repository in the world. There are trillions of online pages which store information on just about any topic on the web. Thus the web today provides an important opportunity to web researchers, to both retrieve and extract information.

There is probably not a single industry from finance to transportation that does not need web research for some function of their working on the other. Web research can be required in any aspect of a business, from planning, analyzing competition, forecasting sales, writing whitepapers etc. Web researching is mostly required in the media and publishing industry.

What does web research involve?

For those who are new to web research, the process can involve:

• Data Collection
• Data Mining
• Data Population
• Data Validation

The process also involves visiting an extensive number of websites, online reports, journals, reading online books, press releases and other verifiable information.

Types of information gathered in web research

Information gathered through web research can be:

• Textual
• Semi-structured data for example tables and text
• Images
• Audio files

While there was a time when each company had to do their own web research at a high time and cost, today most of them have an excellent option. Web research outsourcing is not just cost-effective but can also save many hours of your precious time.

Why Avail of Abstract Writing Services?

The rapid growth of textual information, on the web and in hard copy publications, effectively means that most readers today are experiencing an information overload.

A reader with a time constraint would simply have to flip through a few pages of a publication to know whether its contents are worth perusing or not. This is where a good abstract would prove invaluable.

What is an abstract?

An abstract is a condensed version of lengthy text and must be clear and concise. It is the first section of the report a reader sets eyes on and it is for this reason that many people and companies seek abstract writing services.

Types of abstracts

Broadly there are three types of abstracts namely:

• Descriptive
• Informative
• Critical

Abstract writing is a specialized writing segment and a good abstract writer hones their skills over years of experience.

Abstracts can be found in the following

An abstract would be required for a range of textual documents such as:

• Research papers
• Technical reports
• Medical reports
• Industry reports
• A lengthy article
• Research projects
• Dissertations

Most journals and reports require abstracts to be written in a particular style and this can be tedious. However if you would like an attractive yet readable abstract written for your all important report, you need not start learning this laborious task. Thankfully, even abstract writing can now be outsourced and for a small fee, you could get an interesting abstract written by an expert, all in a matter of days.

India – A Booming Destination for Outsourcing Market Research Services

In 2008 the European Society of Market Research estimated that the global market research industry was about $21 billion, of which 50% could be outsourced. Along the same lines came the estimates of ValueNotes, which predicted the Outsourcing Market Research (OMR) industry in India was likely to reach $800 million by 2012 at a Compound Annual Growth Rate of 47%!

Thus if you are planning on outsourcing market research to India you are spot on with the trends.

India, the favorite outsourcing destination for market research services

According to a report, the market research industry in India is likely to grow by 80% percent in the coming years. Two major reasons for this are:

1. First, India has a very high number of English speaking, well-qualified and intellectual professionals as compared to other countries.
2. Second, India has the capability to offer low cost and high-end research services to companies.
   

Future of outsourcing market research services to India

The scope of market research in India is still evolving. The only challenge, however, is to acquire and retain talented employees, who can deliver quality research services to customers. Attrition and rising wage levels, together with the adverse rupee dollar ratio might have an impact on the growth of this segment.

Outsource Pharmaceutical Research to India

The Tufts Center for the Study of Drug Development estimated that the cost of getting a new drug into the market in the late 1990s’ was a whooping $897 million. A decade later the prices could only have gone higher. Yet it will be surprising to note that of all the drugs researched and developed a mere 21% get approved as safe for human consumption.

The time, costs and logistical requirements that go into pharmaceutical research make it the forte of only a few pharmaceutical companies.

Pharmaceutical research can de classified into two main sections:

1. Drug Development

Pharmaceutical research and development is the core of any drug development process. It involves:

• Identifying chemicals and testing their therapeutic, pharmacological and toxic properties
• Testing the drug for therapeutic benefits and side effects
• Launching the drug in the market

2. Market Analysis

Involves studying market trends to position the drug effectively. The process is broadly classified into:

• Affinity Analysis, which helps position and sell the product in the market
• Market Basket Analysis, which studies the purchasing behaviour of consumers
• Market Share Analysis which involves doing a comparative study of the product vis-à-vis competition and market trends
• Prescription Analysis, analyzes prescriptions across geographies to determine how similar products are performing
• Brand Related Research, analyzes the strengths, weaknesses and brand propositions of the product
• Study of Medical Practitioners such as doctors to understand why they prefer a specific drug for a particular ailment
  

Scope of Pharmaceutical Research in India

India is a booming destination for pharmaceutical research outsourcing. Its main advantage is a qualified work force and lower operational costs. Hence it ranks high on quality and competitive pricing. Choose India for pharmaceutical research.

Perceptual Mapping - The Trusted Tool of Marketing Planners

For companies planning to launch a new product or desiring to know which market segment they should launch their product in, perceptual mapping can be incredibly useful.

What is Perceptual Mapping?

In consistent use by marketing planners for over three decades, Business Directory defines perceptual mapping as - a marketing research technique in which consumers are asked questions on their experience about a product, and these qualitative answers are transferred to a perceptual map using a suitable scale such as the Likert scale. The results are employed in improving the product or in developing a new one.

Why is Perceptual Mapping Used?

Perceptual mapping is commonly used by senior marketing planners to get a broad graphical representation of the strengths and weaknesses of their product, product line, service and company vis-à-vis their competitors. It also allows marketing planners to view their customers and competitors simultaneously in the same realm.

Methods of Perceptual Mapping
There are two methods of developing a perceptual map

• Attribute based rating – which involves factor analysis
• Similarity based rating - which involves multi-dimensional scaling

Steps in Perceptual Mapping

Preparing a perceptual map involves three steps, namely:

• Data collection
• Data analysis
• Presentation

While perceptual maps can have any number of dimensions, a 2D map is most preferred. Any more can become a challenge to draw and confusing to interpret. However, one must also remember that perpetual maps work best for functional attributes like price and product features, and in there lays its limitations. With India becoming a favored KPO destination, perceptual mapping, the widely used tool of market planners, is likely to be outsourced to India in a big way.