Market research key to guiding marketers: expert

The world is becoming predictably unpredictable with the media ecosystem exploding, said Deepender Rana, executive managing director of Kantar's Insights Division for South Asia.

Now market research has a critical role in guiding marketers to make decisions that maximise their return on investment, he said.

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Rana was speaking at a business conference with the top corporate houses in Bangladesh to help brands unlock profitable growth in challenging times.

Kantar, the world's leading data, insights and consulting company, organised the conference titled "Unlocking profitable growth in challenging times" at the Westin Dhaka on Sunday.

Rana said the consumer journey continues to evolve and the rules of engagement for brands are changing. Businesses seek precise and evidence-based insights to help decide both, their marketing strategy and implementation, he said.

Ziaul Islam, managing director of Kantar's Insights Division in Bangladesh, said the role of brands is more critical in challenging time and established brands always give an assurance of quality and make purchase decision easy.

To successfully build and manage brands the marketers need to focus on their strategy covering four aspects – continuous investment, short-term sales, long-term brand building and focusing on corporate reputation and trust, he said.