Adgully Exclusive | Aiming for US$15 Mn in the next financial year: Majestic MRSS's Raj Sharma

Majestic MRSS, a decade old full service market research company, has clients in the Pharmaceutical, Healthcare, FMCG/CPG, Automotive, Information Communications and Technology (ICT), Hospitality & Retail, Media sectors. Majestic MRSS is a full-service independent market research firm that helps clients address their business challenges and provides deep insights in order to create innovative products/services in the markets.

Currently, MajesticMRSS 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.

Recently Majestic MRSS combined Anthropology with Technology enabling market researchers with another powerful research tool. By combining Ethnography and Video Streaming the company came out with a tool called Ethnostream. To know about the tool and about the company's plan in 2011, Adgully caught up with Raj Sharma, President, Majestic MRSS.

Talking about the company's approach towards their clients while providing a solution, Sharma says, "Whenever clients approach us with their research objectives, we propose a research design to them. This research project is then executed by us and the findings are presented to the client."

Further elaborating on their latest offering- Ethnostream he says that anthropology is a sophisticated field that market research often includes in most of its "Insight Generation' objectives. This inclusion is done through "Ethnographies', which essentially means immersing oneself in the consumers' life to observe customer behaviour and to understand consumer psyche. The company is now able to video-stream these sessions to any part of the world, so that unlimited number of client representatives can watch the same.

"The demand for ethnographic research is on the rise with companies wanting to observe consumers and their behaviour firsthand in their natural environments, and converse with them. However, the high cost of travel and other logistics make this exercise an expensive and time-consuming proposition. Ethnostream does away with those obstacles," Sharma adds.

So are there any challenges of marketing the offering to marketers?

Sharma says, "The primary challenge in visual ethnography techniques is for researchers to be able to go through large volumes of visual data and mine it for insights into consumer behaviour; this is salient to the clients marketing objectives. Another challenge would be too to interpret the findings, so that multiple stakeholders get insights from the research."

While signing off he adds that there are several initiatives in the pipeline and many innovative offerings to unfold in the year. | By Prabha Hegde [prabha(at)adgully.com]