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'Providing meaningful research and insights'

Tuesday, April 18, 2017

Jasal Shah, CEO and MD, Velocity MR

An MBA graduate from the Institute for Technology and Management, Jasal Shah has worked with leading agencies like IDC (International Data Corporation) and IMRB International (Part of the Kantar Group, WPP's information, insight and consultancy division). He specializes in technology related market research. He was recently felicitated with the Leadership Award by World Marketing Congress endorsed by CMO Asia for his contribution to Market Research Industry.

Shah has also served as the council member of most prestigious global market research association – ESOMAR. In conversation with Dominic Rebello, Shah talks about the market research solutions industry and his vision, of becoming, an insight provider with technology as its focal point.

How big is the market research solutions industry and at what rate is it growing?
Globally the MR industry is growing at 2% - 3%. While this rate is led by US and Europe, other emerging / established economies like India, China and Brazil are growing at a significantly higher rate. This could be in the region of 8% to 10%, but it becomes difficult to assess the actual rate of growth due to the dilution of the lines between traditional MR agency and the hybrid companies which cater to Analytics as well.

What is the USP of Velocity MR?
Velocity is catering to the new age company that believes in a fast turnaround of research projects rather than a ‘tool’ based research approach. It believes that India has become such a dynamic market that a ‘generalized’ approach to research questions will not yield any meaningful insights. Instead, the need is to truly understand the immediate (Short / Medium term) dynamics of the client’s business, and deliver bespoke research solutions with immediate actionability.

Some of the challenges that you face?
The industry has been so used to the traditional research practices that it will be a challenge convincing them to move on to the new methodologies and unconventional approaches to designing a research project. This will be a gradual process, but ultimately any market research buyer will have to adapt to the changing scenario of the industry.

Where do you see yourself five years down the road?
We see ourselves as trend-setters in terms of a) fast turnaround of research projects, b) innovative research solutions and c) transparency in research practices. In five years’ time, these entire attribute will become a ‘hygiene’ factor in assessing the capabilities of any MR agency, and Velocity would be known as an agency that will tick all these boxes.

Your Vision
Our vision is to become an insight provider with technology as its focal point, which brings in quick turn-around time and accuracy with unmatched capabilities to serve various sectors.

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