Top 10 Market Research Companies In India

Marketing research plays an important role in the growth of any business. Proper research helps your business to run successfully. The better you can understand customers' needs, preferences, and behaviors, the better you will be able to serve them. The main goal of market research is to help marketers identify how the changing elements of the marketing mix influence customer behavior. Through this research, you can also understand the consumer's emotions, attitudes, and preferences influencing their purchases.

Why does marketing research important?

To stay ahead in business competition, market research has great significance nowadays. There is tough competition for both domestic and international business sectors. Therefore, to create your own long-lasting route in the industry, you must thoroughly know every information about the existing opportunities and possible threats; only then can you survive in this tough competition.

You have to know, Marketing research itself is a specialized and vast process. Not only that, It is always a better process to reach out to the specialists in the business market. You can say market research involves collecting important data to learn more about your target demographics and consumers. So as an entrepreneur, you can easily market yourself for your business more effectively and achieve success in your business.

Marketing research is a specialized and vast procedure that always best to reach out below-mentioned specialists:

1. Identify as well as define the opportunities and problems of the market;   

2. Generate, refine, and evaluate the action of the marketing process; 3. Monitor the performance of marketing executive 

4. Improve your understanding of the process of marketing.

Benefits of marketing research

• Help to connect your audiences more effectively 

• Helps identify growth opportunities in your business platform

• helps reduce business risk through successful concept testing.

• help to make more informed decisions

• helps to stay in competition more effectively

• help to stay on top of the business trends

• help to monitor your performance in the market

• help you to educate how your product will change users' life and lifestyle of

• help to identify all kinds of marketing problems

• help to connect you with your information in a much better way.

But in this competitive market, thorough market research in India is very tough for small or new businesses. Now, some promising companies are taking up this responsibility. They are also offering high-quality services. In this article, we will explore some promising market research firms in India for 2023.

Top 10 Market Research Companies In India

Kantar IMRB

We have placed KANTAR IMRB in 3rd position on our blog. The reasons are discussed below. Established in 1970, the organization has become one of India's leading market research firms. The company specializes in insights and analytics across various services such as consumer goods, retail, media, and many more. It is headquartered in Mumbai, India; the company has built a vast network of experts and professionals, which helps provide customized solutions to its customers.

Kantar IMRB's offers variety of services and its specialized in brand tracking, customer satisfaction surveys, market forecasting, and more. Focusing on providing actionable insights to other traders in the same business, this organization has become the top choice among traders in India. Kantar's IMRB uses innovative research methods, advanced technologies like artificial intelligence, and machine learning for their task solutions, which have shown new directions to many traders. By using their market research data and tools, many businessmen become successful in their life. As a result, this organization has become a promising market research organization in the country. Preeti Reddy is the CEO of Kantar IMRB'S Company.

International Data Corporation (IDC) India

IDC, or International Data Corporation, a global market research service provider, takes the 4th position in our blog. They mainly provide market research-related analytical data, information, and events to the companies associated with information technology, telecommunications, and consumer technology markets. Right now, the company is associated with more than 1,100 analysts around the world who make their job more easy. They work with their customer based on local and international market knowledge. This company started its journey in 1964. But as time progressed, they updated them as per customer demand. Now they are able to provide excellent marketing research services, with whom they firmly stand in this tough competition. Headquartered in New Delhi, the agency is the top choice for Indian business. Vasant Rao is the CEO of the company. 

RNB Research India

RNB Research is another leading market research company based in India, with its corporate office in New Delhi. We can easily place the organization in the 5th position in this blog. Introduced in 1995, they specialized in offering customized solutions related to market research across different sectors, including healthcare, education, and consumer goods.

The organization offers a range of market related services, such as market research, customer satisfaction surveys, and online data collection. Their aim is to deliver high-quality insights to their customers. To fulfill this aim, RNB Research generally uses a combination of quantitative and qualitative research methods. It helps them to offer accurate and reliable data to their clients. Operated by Promod Kumar as the CEO, The company has a specialization in research design, data collection, and analysis. All these factors make them a promising market research company in India. It takes the 5th position in my blog. 

Kantar Millward Brown India

Kantar Millward Brown is also a global market research organization that has a strong presence in our country. The company provides several market research-related services, including brand tracking, advertising research, consumer insights, and media planning. They focus on delivering in-depth and actionable insights so their client can see their market clearly. This organization's great factor is its expertise in assessing consumer behavior and advertising effectiveness. With its corporate office in Haryana, the organization has its own style of conducting marketing research by using updated tools for any type of business; 

Founded in 1973, Kantar Millward Brown leverages their global network and local market knowledge while offering customized solutions to their clients. With innovative research methods and advanced technologies, including artificial intelligence and machine learning, the organization has become a promising market research company in India. 

Majestic MRSS

Established in 1992, MRSS INDIA is the largest independent market research firm based in India, with its corporate office in Mumbai, Maharashtra. Unlike other organizations, they completely depend on the use of technology while acquiring data. This is why they can easily ensure reliability, validity testing, and quick turnaround times. They have an expert team with rich experience working with both domestic and international platforms with a presence in all major cities of the country, like Mumbai, Delhi, and Bangalore. This ISO 9000-certified organization serves clients with a wide range of qualitative and quantitative research services. Their best feature is that MRSS has more than 70 CATI stations across Asia-Pacific and the Gulf in countries such as China, Taiwan, Hong Kong, Singapore, Thailand, Vietnam, UAE, Philippines, and Indonesia. They offer independent full-service market research services in almost all major Asian countries.

Hansa Research

Hansa Research is a leading market research organization with a strong presence in this country. The company serves a range of services in various business sectors, such as mystery shopping, customer satisfaction surveys, and market research. Aiming to deliver actionable and in-depth insights, Bare International has the expertise to offer businesses to measure and improve customer experiences.

Headquartered in Mumbai, The company focuses on using advanced technologies like innovative research methods, artificial intelligence, and machine learning, which help it to do more innovative work. The organization believes measuring the customer experience in the retail and hospitality sectors is essential to improve the sector. This working method has made them top market researchers in India. Praveen Nijhara, the CEO, operates the whole procedure of the company. 

Hansa Research offers a range of services to their client worldwide, such as market research, customer satisfaction surveys, and online data collection. With a focus on delivering high-quality insights, they aim to provide a combination of quantitative and qualitative research methods to provide accurate and reliable data to its clients. Providing in-depth insight into research design, data collection, and market analysis makes it a promising market research company in India.

TNS India Private Limited

Established in 1997, TNS India Private Limited is not very old in the market. But it has left its footprints on all infant companies in terms of market research since the beginning of its journey. Headquartered in New Delhi, this organization has also become the top choice of various businesses in India. It focuses on providing adequate marketing data and information that helps provide business insights. The services provided by this company to various businesses are the company's expertise in research design, data collection, and analysis. This service makes it a promising market research firm in India.

Nielsen always strives to provide high-quality services to its clients. In that case, they leverage global expertise and local market knowledge. They also emphasize the company's data-driven approach and provide actionable insights, making them the top choice among traders in India.

MarketXcel

Established in the year 2000 MarketXcel is another best market research company in this country that focus on providing customized solutions to its clients. It has a strong background in providing market research services. They always try to offer a wide range of services, including customer satisfaction surveys, brand tracking, and product testing, 

With innovative research methods, including online and mobile surveys, MarketXcel always tries to satisfy its customers. Headquartered in New Delhi, the company aims to deliver actionable insights with high-quality data analytics service and the use of advanced technologies such as artificial intelligence and machine learning. All these features make it a top choice for businesses in India.

Founded by R Vishal Oberoi, the organizations innovative research methods and technologies are considerably advanced, which help in providing accurate insights to their clients.

Seminal Research

Headquartered in Gurgaon, India, Seminal Research is a full-service organization that supports end-to-end research across India. They primarily offer consulting services to their clients focused on human decision-making. They have a team of experts who deliver empathic research, including the subjective experience, not just churn out datasets.

Founded in 2010, they have been using human-centered research methodologies, including digital ethnography, focus groups, surveys, and interviews, overlaid with strategic analysis. With more than 13 years of experience, they are specialists in advising real business tactics. Ashutosh Singh, the CEO company use this tactics on the market research procedure, which make them the top choice among the business owners of India. 

Orchidea Research 

Orchidea Research started its journey 2 decades ago, and is actually a paper and pen market research organization. They are handling clients with utmost diligence from their initial stage. Driving success miles behind enabling clients to make decisions, over the last decade, this organization has been exploring the field of market research and has keenly observed the paradigm shift it has brought about, Which enables them to provide proper client service. Now, all most all companies in India, ranging from finance to media, are using their service for related market research. It works as a miracle process to improve business performance through qualitative studies. Nitin Sharma holds the post of CEO of this organization which runs the company very successfully. They are the most updated market research organization today. CEO of the company leaving no stone unturned to satisfy its customers. Customer satisfaction is his best priority. 

Conclusion

By necessity, the market research industry is growing rapidly in India. Hence, many promising companies are emerging to provide high-quality services related to market research. Almost all of the companies discussed above have earned a reputation for providing accurate and actionable insights to help businesses make business-related decisions. These companies use the highest technology and tools to collect and analyze data to analyze market trends and provide deep insights into consumer behavior. They always try to give their best services to their clients or customers. Customer satisfaction remains the top priority.