Most of the organizations, use customer surveys to measure satisfaction, pinpoint areas for improvement, or simply allow disgruntled patrons to vent. The approach is framed by a pessimistic mindset—one focused on problems. “Customers have been conditioned to always look for what’s wrong,” indeed, the vast majority of research on customer service deals with “service recovery”—how to react when a customer complaints and that’s where a fine-tune market research firm Verace has mastered!
The name Verace is inspired by ‘Veracity’ which means the quality of being True, Accurate and Honest. Incorporated in the year 2007, headquartered in Bangalore, Verace is a complete agency providing end to end market research solutions and is in the 10th year of its operations. They are a specialist Market Research agency, where they concentrate on “Solving” the problems than go for a suggestive approach. They strongly distillate on “Winning” for the clients, and hence for Verace, “Winning is everything,” “Jeethna Hain” that makes them very distinct from others.
Verace is a specialist Market Research agency. Winning in the market and creating a niche for its customer is what they aim for with every project, big or small. The company focuses on what makes the product work, what customers look for in every purchase and how the company can convert this into maximum share of wallet. This is the basic premise on which Verace build their studies.
An Eminent Personality of Verace
Ananth Nagasamudram , Director of Verace, who is fondly called “Voice of God,” since, he has always used to echo the voice of “Customer” who is and should be regarded as God by all Corporates.
He has built 30 years of experience in both purchase and sale side of Market Research. He started his career with TVS Motor Company, and handled Market Research function at TVS Motor. He initiated Verace with the aim of making Market Research more actionable. He is specialized in superior extraction of insights, leading to improve the market presence of the clients he works with. Ananth had the privilege of interacting and being groomed by Ms. Rama Bijapurkar – a revered research Guru and strategy consultant.
Aiding Diverse Market Research Solutions to Enrich Clients Needs
Verace knows, digital is the way of life now. The market has transformed swiftly in the past decade with ever budding virtual presence of individuals. The fact that a person’s interests, spending capacity and so much more information are available easily is a huge advantage to the decision makers. How to think very differently purely based on competition centric war mode, which is new to the country. Verace brings these specialties to their client s in the form of futuristic, cutting edge technologies, with the help of Corporate War Specialist Mr. S Sridhar, founder of SunTzu Business Warfare consultants.
At Verace, they believe that the abundant accessibility of information is both a boon and a bane for those seeking meaningful information. “Arriving at a solution is easy, but taking a wrong decision is just as easy as well.” Hence, they believe in striking a balance by cautiously segregating meaningful data so that the end result can be validated easily.
Below are the few productive services and solutions which Verace brings for its Clients.
Innovative Product Developments: Will cover all stages of product development from concept to cash. The studies they conduct are based on ‘Art of War’ principles and they use 7 levels of energy for superior extraction of insights
Market Entry and Development Studies: How and where to enter the market, how to identify most attractive values spaces, leading to sharper positioning of the products.
Customer Experience / Satisfaction Studies: To understand the actual positioning in the market visa is desired position leading to remedial actions. Also, they do Communication Development and Tracking Leading to comprehend the health of the brand.
Now, Verace has invested in fieldwork proficiencies and Ananth is the Director is Aeon Market Research, – a leading fieldwork agency in India.
Effective Identification, Evaluation and Rectification of Difficulties
Verace understands that the expectations of clients are rising due to complex business dynamics as they rightly should be in the current environment. Overwhelming amount of data makes it difficult to segregate quality data from noise. They consider these challenges essential for the growth of organization and they maintain expectations by delivering insightful strategic reports within stipulated timelines.
With innovative data coming in novel forms every day, extracting significant data poses a constraint. Automation of prevailing practices has a direct impact on the productivity of research agencies and hence the overall output. The other major challenge Verace faces is to make the research delivered at the right time for effective decisions. They are using latest tools and techniques to reduce the time of Market Research, for both data collection and analysis.
Heading towards Future
In this age, where everyone has a virtual presence, Big Data plays a very imperative role in determining the trends in the market. Their agency has advanced tools to isolate factors influencing the consumer buying process in today’s fast paced, highly competitive environment. Things can change in a heartbeat and Verace is really feeling happy to catch that.
With the advent of more data coming to the corporates, they need specific analysis to take decisions, hence concentrate on “Data Meaning” than “Data Mining”; Verace has built sufficient resources to address the same. Verace has faith in delivering insightful results speedily. They are an organization ‘committed to excellence’ as quality is the only way a product or a service can distinguish itself. Their quality research provides meaningful information which companies can act on with confidence, ensuring a high success rate. Verace is driven towards providing insightful, quality market research for the future.