Mr. Raj Sharma, Co-Founder & President, Majestic MRSS
“With the advances in neurosciences and advent of technologies the nature of market research will change fundamentally over next 5 years”.
He then joined Majestic Software Limited, which was an IT/ITES company in 1997. The prime responsibility was International Business Development and Customer Management. A graduate from Mumbai University and from the various divisions of a very reputed institute called Vivekanand Education Society. He was amongst the top five students when he passed his matriculation. He then joined the Vivekanand Education Society's Polytechnic to do a Diploma in Industrial Electronics which he successfully completed to get direct admission in second year Degree Engineering and graduated with First Class Honours in Electronics & Telecommunications. Further he completed his Masters of Management Studies in Marketing (MMS) also with First Class Honours.
Majestic MRSS is more than a decade old full service market research company with clients in the Pharmaceutical, Healthcare, FMCG/CPG, Automotive, Information Communications and Technology (ICT), Hospitality & Retail, Media sectors. Currently, Majestic MRSS is present in fifteen countries in Middle East and Asia. Majestic has always been at the forefront of technology as an emerging force in Asia and the Middle East in the last decade. Has further emerged into major technology rich MNC’s with the information on their Market Research practices. And has the state-of-the art technologies like the Eye Tracker, video streaming, Emotional-Measurement, & SMS Research tools.
Replying to Anil Mascarenhas of IIFL, Raj Sharma says, “With the advances in neurosciences and advent of technologies the nature of market research will change fundamentally over next 5 years”.
Explain to us the business model of Majestic Market Research Firm.
Majestic MRSS is an Independent Market Research firm, which provides services to the clients approaching with their research objectives. A research design is proposed by us, which are in turn approved by the clients to drive the project and later executed by us. The findings are presented to the client. We helps the clients to address their business challenges, provides insights to come up with innovative products/services in the markets.
You have combined Anthropology with Technology. Brief us about it.
Antrhopology is often included in most of its ‘Insight Generation’ objectives. This is done through ‘Ethnographies, which means immersing oneself in the life of consumers to observe and understand customer’s behaviour and psyche. We are now able to video-stream these sessions to any part of the world, so that unlimited number of client representatives can watch the same.
Tell us about your geographical presence. You recently expanded wings into Hong Kong, Singapore and Taiwan.
We are the first Indian Market Research firm that has become a ‘Multinational’ MR agency spread in several countries like China, Taiwan, Hongkong, Singapore, Thailand, Vietnam, UAE, Philippines & Indonesia. We also have Quality Experienced Field team presence in other countries like Saudi Arabia, Kuwait, Srilanka, Bangladesh, Bahrain, Oman, Cambodia, Australia, Turkey, Tunisia, South Korea, Japan, Bhutan, Nepal, Myanmar, Iran, and Malaysia.
Brief us on your financials?
By the next financial year, we expect it touch US$15mn.
Which are the verticals you cater to? Which are the promising ones?
The verticals we cater to includes FMCG, Consumer Durables/Electronics, Pharmaceuticals/Healthcare, Information, Communications and Technology, Automotive, Hospitality and Tourism, Logistics and Transportation, Industrial Engineering, Retail and Modern Trade. Different approaches to Rural and BOP market research and on the high end consumers using innovative social media research strategies are the promising among all.
What are the technological changes taking place in market research?
Social Media Research, Eye Tracking and Mobile Eye tracking, Mobility based consumer insights, applications of neurosciences to market research are technological changes.
Do you hire from B-Schools?
Yes, we often do. B-Schools need to increase the duration and modify the format of the summer and winter internships.
What are the opportunities and challenges to your business?
To emerge as the largest consumer market in the world is an opportunity. While, the only challenge we face is the limited availability of quality human resources in the sphere of Market research.
What is your message to anyone who wishes to join your company?
My message is to anyone who wishes to join MMRS is he or she will be exposed to cutting edge market research tools and new opportunities to undertake challenging research studies across Asia and the Middle East. Market Research is now entering new unchartered terrains where traditional models derived from psychology and social no longer necessarily apply. With the advances being made in neurosciences and with the advent of technologies that allow us to use those advances, the very nature of market research will change fundamentally over next 5 years.
India Infoline Research Team / 08:44, Jun 26, 2015
IIFL is hosting 10 companies at a Management Roadshow in Mumbai today. The opening is a subdued start. US market saw minor losses with Dow, S&P 500 and Nasdaq closing marginally lower.