Kantar Worldpanel and IMRB in strategic tie up
Kantar Worldpanel and IMRB enhance their consumer panel service to offer informed insight on the fast-changing Indian market
World leader in consumer knowledge Kantar Worldpanel and leading Indian market research firm IMRB have formed a strategic partnership to run a joint consumer panel service across India.
The new alliance combines local market knowledge from IMRB and the international expertise and global perspective from Kantar Worldpanel to deliver detailed insight on one of the world’s largest consumer markets.
As result of this partnership, Kantar Worldpanel and IMRB will re-launch their consumer panel service, MarketPulse, in 2014 –adding 10,000 households to the existing 70,000-strong panel and covering new states such as Jharkhand and Chhattisgarh. The panel will also be the first in India to use insight drawn from 2011 Census and the socio-economic category consumer classification released by the Market Research Society of India in 2011 – helping to deliver more accurate and more contemporary insight for clients.
Kantar Worldpanel and IMRB are expanding their consumer panel service to reflect the changes taking place across India. Launched in 1981, the MarketPulse panel is an authoritative barometer of changing purchase behaviour and habits in the country. Over the past 20 years economic growth, a reduction in poverty levels, the identification of new urban areas and increasing levels of consumer sophistication mean brands require more detailed analysis and up-to-the minute intelligence.
The partnership will use more granular category definitions to provide clients with greater insight on consumers’ purchasing habits across a broad range of products. In addition, combined Kantar Worldpanel and IMRB expertise and resources will result in greater access to innovation, technology and skills, and both companies will work towards international best practice and harmonised reporting that will benefit their clients in India and globally.
Josep Montserrat, Global CEO of Kantar Worldpanel, said: “The rapid pace of globalisation means India is an important market for multinational companies and, increasingly, Indian businesses are looking to expand across the globe. The new partnership will meet these needs and make it possible for clients to gain a greater understanding of both the Indian and global markets in which they operate – and, importantly, to identify new growth opportunities.”
Hemant Mehta, Senior Vice President at IMRB, said: “India is changing rapidly and the pressure is on Indian brands to maintain and increase their consumer base, grow loyalty and continue to expand. This strategic partnership will enable us to provide our clients with actionable insights into global trends and perspectives.
“More and more, Indian companies are moving into emerging countries and the on-the-ground presence of Kantar Worldpanel in many key markets throughout the world will be invaluable to these businesses. As companies continue to expand into a greater number of markets, the ability to benchmark Indian businesses with brands across the globe is vital to understand how companies can fulfil their growth potential.”