What impact can market research have on a beauty brand? Can market research change the way a business functions? Vinay K Mayer, Vice President – International Sales & Service Delivery Asia Research Partners answers all these questions and shares his insights on how market research solutions help the beauty industries.
What are Market Research Solutions? How is this service relevant to the beauty industry? What kind of requirements do beauty brands have when they approach you for research?
Market research is relevant to all businesses. Healthcare and Wellness industry is currently only tapping into 10% of its growth capability. In the coming years, it has the potential to raise it to 100%. Much of this starts with Market Research. We provide insights to the brands related to consumer choices, preferences, usages and their awareness towards different brands, which helps these brands to design their products as per market needs.
Brands want to understand consumer preferences, their expense nature and how the brand image looks like to the consumers V/s competitors. We also do a lot of product testing and pricing studies for brands. Mystery shopping and customer satisfaction are another significant verticals among our services.
