Praveen Nijhara, CEO, Hansa Research pens down the role of market research during a pandemic and the significance of staying informed to battle uncertainty.The COVID-19 global pandemic has resulted in corporates and businesses swimming in unchartered waters. In these times of crisis, it has become hard for marketers to know where to begin. Corporate appetite for market research has held fort to an extent, but the world remains in uncertain times. The current state of flux is likely to continue, since consumer demands and behaviors continue to change. Over the lockdown period, existing clients have reached out to us to guide them on:
- Whether to continue with research?
- How to conduct?
- Which Research to conduct?
- Will the consumer redefine what is ‘essential’ post the lockdown?
- Will ‘indulgence’ regain its erstwhile levels or will there be a correction?
- With a newfound appreciation towards hygiene, will there be a different trade-off between Price Sensitivity vs. Product Quality?