Pune, Maharashtra Jun 29, 2021 (Issuewire.com) - Leading global market research firm Market Insight Solutions is now offering automotive manufacturers detailed research tools, to cope with a challenging market. Increasing market volatility owing to domestic lockdowns and coronavirus outbreaks has encouraged the company to set up a specialized set of offerings for the automotive sector, which is facing new challenges each day.
The second coronavirus wave in the country has resulted in a near wash-out of sales in May 2021 for many top automakers in India (The Economic Times, 2021). Interestingly, in addition to work-from-home policies and lowered consumer spending power, automakers also saw a sharp drop in passenger vehicle sales due to supply chain constraints caused by localized restrictions and a shortage of semiconductors. Steady primary research such as demand and supply assessment will prove to be a vital tool in such instances, not only to understand larger consumer sentiment around buying but also the impact of local challenges, that can vary across regions and states.
In addition, the firm’s tools include mapping customer satisfaction and behavior that seems to be changing drastically with every wave, making it crucial for auto-manufacturers to study each consumer segment individually. For example, luxury car makers are currently faring far better than the mass market segment (HT Auto, 2021). It appears that high-net-worth individuals are continuing to purchase, albeit at a delayed rate, while the salaried class is more likely to strongly re-evaluate buying decisions. Knowledge of such consumer differences can help automakers target both resources and product marketing more effectively.
Another new and major challenge that Market Insight Solutions is gearing automakers for is the ramifications of a high number of cases in rural areas, in the second wave. While urban centers may be inching back slowly, the hinterlands are still grappling with large case numbers which could lead to lowered demand for certain segments such as domestic passenger vehicles. Developing new in-roads into the rural market segment via research can support better management of these hurdles.
Speaking about the need for automakers to rely on research CEO, Market Insight Solutions said, “Each country and even particular states or regions are facing varying levels of consumer sentiment and market revival. While auto-manufacturers were perhaps better prepared to deal with the second wave as compared to the first, the new wave has brought with it a whole new set of challenges. Keeping this in mind, the Market Insight Solutions research team is not only focusing on regular market mapping but several other aspects such as price benchmarking; business feasibility and trade potential; channel partner identification, and so on. These tools will help businesses stay far more attuned to a rapidly changing market”
The Market Insight Solutions research team comprises account management experts, marketing science groups, R&D professionals, and research methodology experts who come equipped with years of technical expertise. These experts make use of highly customized survey designs, multiple primary market research techniques, and other skilled resources, to achieve the best results.
The Market Insight Solutions Primary Research Portfolio comprises of:
- Market Entry and Exit Strategy Development
- Market sizing and segmentation
- Competition Mapping
- Demand and supply Assessment
- Opportunity Identification
- Price Benchmarking
- Market Trend Analysis
- Business Feasibility and Trade Potential
- Channel Partner Identification
- Product and Technology Benchmarking
- Maintenance Market Analysis
- Customer Satisfaction Study
For more details visit https://www.marketinsightsolutions.com/primary-market-research/
Contact: +91 93732 36935; +1 432 203 2899 |sales@marketinsightsolutions.com
About Market Insight Solutions:
Market Insight Solutions is a leading consulting firm that caters to a diverse portfolio of research campaigns. It is one of the fastest-growing research organizations led by an extensive team of individuals with more than 10 years of experience in diverse research domains. The company publishes in-depth market studies across domains such as food & beverages, chemicals, consumer goods, healthcare, automotive, factory automation. It also offers multiple services like syndicated or published research, customized research, and company profiles analysis. Its strategic insights aim at providing credible and practical solutions to meet the specific requirements of each client.
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