If your company has been conducting research only as an on and off activity then its time you invested more into market research. Market research can be integral to the success of your business and if done on a regular basis can help you maintain a competitive edge and keep up with market trends. Regardless of whether you are looking at expanding your business or you are just starting your business, market research is vital to increasing your sales and understanding your target audience. Here are 7 reasons why your business must conduct market research.
1. Identify new customers
Market research can help your business identify potential customers. Who would use your product? What is their age group? Are they female or male? What is their level or education? With answers to such questions, you can customize your product/service to meet the needs of your customers.
The acclaimed consulting firm AT Kearney has recently released reports that confirm India’s position as the world’s favourite back-office. India’s deep skill sets and low cost services have been the main cause for India’s success as an outsourcing destination.
India is closely followed by China and Malaysia in the top 3 slots of AT Kearney’s 2012 Global Services Location Index (GSLI). All of the top 3 countries have enjoyed high rankings since the GLSI started in 2003, mainly because these three nations have large talent pools and low cost advantages.
Today, outsourcing is the latest buzzword in the global market. It makes good business sense to outsource and most businesses, no matter their size are outsourcing. But should your business outsource too? Would outsourcing be useful to your company? Here are seven reasons why most companies choose to outsource at least a few business activities.
1. Save more on the cost of labor: The cost of labor in developed nations is always on the rise, making it expensive for employees. Outsourcing on the other hand can help you get the same job done at a much lower cost by equally skilled professionals.
2. 24/7 services: With outsourcing as an option, you can provide your valuable customers with round-the-clock services, without stressing out your existing staff. Even if your in-house staff goes on vacations or holidays, your outsourcing vendor can continue to provide support.
If you thought that Bangalore is the only outsourcing hotspot in India, then you need to think again. With rising inflation in India’s largest tech hub, global companies are now considering other Indian cities, where they can increase profits and enjoy more cost savings. If your company wants to boost your profits, then you may want to think beyond Bangalore, Mumbai, Chennai or Hyderabad. Here’s a sneak peak at what some lesser-known Indian cities have to offer the global market.
Outsourcing experts at the Dallas-based Alsbridge research company have brought out a list of India’s top five up-and-coming cities suitable for outsourcing ventures.
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