Considering the volatile era, where the thought process of people, their emotions, moods and the media keeps changing very fast, Priyanka shares her insights on how conducting research periodically is important and must for companies.
Upon asking her on what she thinks of data obsoletion –
“This really depends on the type of data that is collected. Usually, data from category understanding studies; where we try to determine consumer behavior regarding product usage and how they search and buy products, are generally stable over time. I usually say 2-4 years. However, sometimes external circumstances play a role in changing this behavior. For example – digitalization. Smartphone usage has changed how we consume media, our purchase behavior across categories, and how we are influenced to buy a product. Similarly, the advent of e-commerce changed consumers’ purchase pattern of products and frequency. Recently Covid-19 was a key reason for changing consumer behavior too.
I would say – brands should consider external circumstances when reading and assimilating data. However, there are certain studies like brand tracking – which must be done at least once a year or, depending on the seasonality of the product, after every season.
In all – I feel research data is continuously evolving, much like the times around us, and brands must stay updated so that they don’t become obsolete.”
Ms. Priyanka Mallick is the CEO of Q&Q Research Insights. She has extensive experience in the agriculture market research and has been instrumental in shifting analytical models from those based on self-reporting consumer behavior to the fusion of data from various sources, including integrating consumers’ passive online and offline behavior. She also sits on the board of Sri Renuka Sugars (A Wilmar Company).
Agriculture is one of the fastest-evolving segments after the service industry. Rapid digitalization has been encouraging Generation X & Y to go beyond traditional career options. Q&Q Research Insights, one of the top agriculture market research companies in India, has also rolled out a new set of vacancies this winter. A career in market research is also flourishing more than ever in India.
We have young talents coming on board from prestigious Agribusiness management colleges and Universities, contributing to this fast paced segment.
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