Lucknow: Planning to launch a new brand or renew your marketing strategy, but find the cost of research too high? Try a B-school instead.
Students of various B-schools, including the Indian Institute of Management or the IIMs are increasingly proving that when it comes to such research, they can stand up to any market research company.
Leading mobile phone maker Nokia wanted to check the viability of using vernacular languages in their mobile phones.
But instead of a well-established market research company, the mobile giant chose Ashwin Bagpat, a second year student of IIM, Lucknow, to do the spadework.
Says Ashwin: "All good students try to get such projects. Company benefits and the students benefit too. The challenge depends on how well you do the project."
Increasingly, companies are looking for research that brings in fresh ideas. And that's where going directly to B-school students makes a difference.
Testifies Jaywant Krishana, regional manager of TCS: " A lot of established player consultants think on beaten tracks. But B-schools bring freshnes."
Getting IIM students to carry out surveys has a significant cost advantage for companies as well. A primary survey could cost between Rs 60,000 to Rs 1 lakh. And it also helps an IIM student's curriculum.
"A hands-on experience on these live projects has become extremely popular among business students despite time constraints. The students have often come out with ideas that are innovating and refreshing," adds Abhishek.
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