The Mumbai based research company will invest Rs 100 crore into the project.
Mumbai based research company Axis My India, will be spending Rs 100 crore on a consumer study that will cover one million plus respondents across 670 odd districts, over a 12-month period. The research company has tied up with TAM India for marketing the survey that will target advertisers, broadcasters and OTT platforms.
The study will answer the most preferred consumer brands and most used consumed brands across 40 product categories. It will also enable data users to micro target segments of consumers geographically for effective localised marketing plan implementation to derive higher returns on investments.
We asked Pradeep Gupta, founder, Axis My India, about the reason for such a large study. He says, "We are trying to develop a micro marketing tool in the country where there is a need in the market. There are different marketing tools like television, non-traditional media, OOH et al, but none of them address the micro/district level need for marketing. As a brand, one may have a different mindshare in neighbouring districts for the same product. But what is missing is how they address this problem statement."
He adds, "There will be a diagnosis done on what the gaps are in the different districts, brand awareness, recall and problems. This tool will tell the brand where and what the problems are. Since we have a huge database, we will try and get the solution as well; for example we will have a tailor-made communication for district 'A' and a different communication for district 'B', based on their requirement."
The research company has completed five and half lakh surveys in the first phase and will be launching it by November of this year.
Adding about its viability, Gupta says, "To conduct any research, for a size of about 10,000 to 1,00,000 samples, it costs anywhere between Rs 200 to Rs 500. It is very difficult or prohibitive for any brand to do research in 600 plus districts with a sample size of two and half lakhs. So, we are trying to make it affordable for the brands."
Key Highlights of this service from Axis My India and TAM:
Survey sample of 1 Million plus Indians
Market spread - 670+ districts across India
Survey across 40 product categories
Survey spread across 12-month period
TAM's data/knowledge base across:
Advertiser and Brand Advertising insights across TV, Print, Radio
Insights into Video consumption patterns by Indians