The Market Research Society of India (MRSI), a non-profit organisation, has announced that its second Market Research Symposium will be held at the Grand Hyatt hotel, Mumbai on Friday, February 4, 2005. Leading market research agencies will present six case studies of how companies within the financial services industry have used market research to provide the cutting edge to grow their businesses. The case studies will reveal how successful financial services companies have built and managed brands profitably, created a sustainable fit between brand and consumer, effectively used feedback on customer satisfaction and leveraged the power of the brand.
The symposium will be helpful to individuals associated with financial products and services. In addition to the case studies, the symposium will also present a platform for participants to interact directly with market research agencies on a one-on-one basis and understand how effective market research can revitalize financial brands, turn around flagging brands and also target consumers using innovative market segmentation tools.
According to B. V. Pradeep, President, MRSI, “The financial services industry today holds centrestage in India’s growing economy and its capability to compete globally. Consolidations within the financial services industry are imminent and as India gears up to rapidly integrate itself into the ‘global village’, companies marketing financial services are bound to face the heat of competition. The successful companies will be the ones that use marketing research to provide significant competitive advantage for their marketing strategies.”
“One of the key barriers to the use of market research in the financial sector is the lack of familiarity with the subject, lack of conviction and the general belief that market research is primarily for companies within the consumer goods industry. However, there are a number of market research case studies which have demonstrated that financial services companies can successfully apply marketing research to help them achieve their ambitions to build powerful brands, as well as drive business growth.”
The MRSI is the recognised industry body of marketing research organisations and practitioners and is affiliated to ESOMAR (European Society for Opinion and Marketing Research).