Synovate, the global market research arm of the Aegis Group, will launch its new tool in a month from now. The tool can be used both in qualitative and quantitative research. The firm has been popular for its qualitative research tools like Real Life -- a full range of ethnographic approaches inclusive of immersion, vision, moments and glimpses, along with semiotic analysis to understand consumers from a deeper cultural context, Build Life -- a qualitative approach to concept generation, concept development and refinement, and Life -- a digital qualitative offer consisting of online bulletin boards, online focus groups, online in-depth interviews, digital diaries, digital storytelling, online interactive panel and online community panels.
The research company launches one new product every year in both qualitative and quantitative research domains. Its new tool this year can be used in both fields of research. Synovate may introduce a few more new tools, this year. Says Wolf, "We have been continually refining our products for more than 20 years, whenever we felt a need for a new tool which can help in the better understanding of a category. The game, after all, is all about return on investment.
Synovate will soon be presenting its study on global trends, which, according to it, is much in demand. Wolf explains, "Our global trends initiative utilises many avenues of research and when integrated with Censydiam approaches, provides the information which enables marketers to keep brands fresh, relevant and contemporary. There is significant interest and some participation already in the Indian market."
The Indian market research industry is valued at about US $250 million. Synovate is looking at 30 per cent growth by the end of the financial year 2011. As part of its growth plans, the research firm will be focussing on certain areas like retail, digital, health-care, moto-research and FMCG.
Mick Gordon, managing director, Synovate, says, "The growth will come from areas like health-care, moto-research, retail, digital and FMCG. We are looking at digital because it has a presence across all categories and helps in accessing various media channels. FMCG is an important area because of the sheer size of the category."
India is a very important market for Synovate, and the market research agency is claiming to do its best to ensure good results.