Budgeting for market research in India
A practical guide for companies in the UK, US, Europe, the Gulf and Asia-Pacific
1. Desk research versus primary research
Desk research uses public and licensed data to size a market and map competitors. It is faster and cheaper. Primary research, such as surveys and interviews, answers questions that no report can, such as what your own target customer will pay. Most entry decisions need both.
2. Who you need to talk to
Interviewing households is very different from interviewing hospital purchase heads, plant managers or distributors. The harder the respondent is to reach, the higher the cost and the longer the fieldwork.
3. Cities, states and languages
India is not one market. Interviews in Tamil, Kannada, Telugu, Hindi and English need local interviewers and translation checks. More cities and languages mean more field teams. Start with two or three pilot cities rather than a national study.
4. Sample size and quality checks
A larger sample narrows the margin of error but costs more. Ask what back-checks the agency runs on interviews and how data is validated.
5. Reporting depth
A short findings deck costs less than a full report with forecasts, pricing tests and an entry recommendation.
How to set a budget
- Write the decision the research must support.
- List the respondent groups and cities.
- Choose desk research first, then add primary research only where the gap is real.
- Request a milestone-based written proposal.
Related reading: Ten checks before hiring a research agency in India and How to do market research in India as a foreign company.
