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T.
MURALIDHARAN in interview...
Information
explosion due to better technology and accessibility has changed
the way business is done. Specialised and customized information
is what most businesses and governments now want. Market research
is the inevitable answer. It involves researching any and everything,
right from the evolution of a toothbrush to consumers preferences
about it!
With sophisticated
communication technology now available, the premium on well-researched
business and technical reports is very high. Our team contacted
Kiran Unni, a senior research analyst with Frost & Sullivan,
an international marketing consulting company, to get a first
hand report on market research.
Q:
Can you briefly encapsulate the services offered by Frost &
Sullivan?
A: Frost & Sullivan (F&S)
is an international strategic marketing consulting company headquartered
in San Jose, California. We also have offices in the US, the UK,
Belgium, Germany, Singapore, Malaysia, China, India and Australia.
We offer a whole gamut of services of which market research forms
an important part. Apart from syndicated market reports we also
offer consulting and training services. The different services
offered by the company include:
Customised client proprietary marketing consulting and research.
Syndicated
market engineering reports.
Online
subscriptions through our website www.frost.com
Periodic
conferences in emerging technologies/business practices
Decision
support database
Country
industry forecasts.
Our industry-focused
verticals range from aerospace and defence to chemicals, communications
and information technology, electronics and semiconductors, healthcare,
environment, energy, etc., under which come the various specific
market-oriented industrial research groups.
Q:How
did you get into the field of market research?
A: Being a student of economics,
I had always enjoyed working on live primary research oriented
projects. I have always believed that to know a market or industry
truly, one needs to actually get out and meet the participants
of the industry to form an accurate and enduring impression of
their business, revenues and future prospects.
My first
job was with a Hyderabad based marketing consulting company,
which gave me the required training in research and analysis.
Being in F&S has helped me leverage that training and use
my expertise on forecasting models and analysis techniques to
research and identify market issues both at national and international
levels. As I am a part of the Industrial Practice Group in F&S,
I specialise in this area.
Q:Describe
a typical workday of yours?
A: There are many facets to
my typical work day. As an analyst, I have to contribute
market-specific articles to the companys portal as well
as to any other industry-oriented publications and journals.
Each of us analysts here work individually or as part of a team,
on the particular project at hand that could be a syndicated report,
a consult assignment or a subscription service. The job at hand
is a mix of several activities, including secondary and primary
research.
Over 85 per
cent of the research conducted by F&S is based on primary
research. The analyst collates the available data using various
forecasting techniques and models, and presents the research findings
in the form of reports.
Q:What
educational qualifications are necessary to get into the field
?
A: Usually, one requires a
minimum degree/Diploma in MBA or any other degree equivalent to
management to be qualified as a research analyst. In addition,
a technical background in the particular field is also an added
advantage. However, this is not a hard and fast rule and any person
with sound knowledge of the market and with an aptitude for economics
and related subjects could be considered and ideal candidate for
the post of a research analyst.
Q:What
qualities and attributes are necessary to become a market researcher?
A: One requires a strong background
in and knowledge of research techniques. In addition, the analyst
will have to have sound knowledge of economics and the conventional
business trends in order to be able to study markets at both the
micro-as well as macro levels. It is also a must for the analyst
to be aware of and study the different government policies that
influence various markets.
However, all these skills come to naught without effective writing
skills. The analyst not only researches and forecasts the future
of markets, but also has to project the findings to the clients
in a convincing manner.
Q:What
are the upsides and down sides of being a market researcher ?
A: All skills mentioned are
the most important upsides of being a research analyst. Keeping
pace with the ever-changing market scenario enables the analyst
to keep abreast of the latest advancements in the market, be it
technology, company, or product-oriented.
Those looking for a cushy job that doesnt require consistent
hard work and effort can look elsewhere! Market research and consulting
is definitely not a typical nine-to-five job. A research analyst
is under continuous pressure to provide accurate analysis. The
analyst is also expected to be able to foresee drastic turns of
the market.
Q:What
are the growth prospects of the industry?
A: Information is power. The
changes in the global economic scene have led to most countries
liberalising their markets to open competition. This has resulted
in an exponential expansion of revenue opportunities and demand.
Consequently, it has become imperative for participants to be
well-informed of all market trends, opportunities, and possible
future trends. This should give the market research and consulting
industry a tremendous boost that should last a really long time.
T. Muralidharan
is MD of CareerMosaicIndia.com
An IIT Madras and IIM Ahmedabad alumni, he is a career consultant
to professionals.
murali.hyd@cxknetworks.com.
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