Mudra Institute of Communications, Ahmedabad (MICA), India's premier communications management institute, has launched a unique market intelligence product called MICA Indian Marketing Intelligence (MIMI), that assists businesses in making sound and strategic marketing and business decisions in India.
India's complex socio-cultural, political and demographical mix can present challenges in terms of developing new products, identifying market segments, designing market-entry strategy and effectively launching products into different regional markets with greater variation.
Built around a unique data-fusion algorithm developed by the professors and researchers of MICA, MIMI fuses the variety of structured information, compiled from authentic sources, to provide a composite, granular market-view. It also provides Market Potential Index (MPI) and other data separately for rural, urban and total Indian market for more than 630 districts, hitherto not provided by any other similar product.
The main highlights of MIMI are:
- Provides Market Potential Index: As one of the most acute needs of the marketer is to arrive at a district prioritization for purposes ranging from market entry to product/service launch, MIMI provides Market Potential Index (MPI) for 630 districts for rural, urban and total market. The higher the MPI, the higher is the market prioritization.
- Provides a Wide Array of Information and Applicability: With 143 variables across rural and urban market, MIMI provides data related to Demographics, Agricultural, Financial Services, Media Ownership, Vehicle Ownership, House Hold (HH) Size and Usage, HH Basic Amenities, HH Light and Fuel, etc. to be applied across sectors ranging from Construction and FMCG to Telecom.
- Simplifies Decision Making: To interpret the data quickly and effectively, MIMI provides a host of features like Graphs, GIS maps, Quartile and Potentiometer in downloadable format. These features are helpful for better presentation of the data and clarity of analysis. For example, if a marketer would like to target a specific region, the Quartile-based model helps him to compare various districts on selected variables, simultaneously, to arrive at a comparative picture.
- User-friendly Interface: With a highly interactive website and user-friendly interface, one can perform a large number of functions like execute simple arithmetic functions, customize variables, save work-space, compare districts across the states, besides others, with the help of MIMI's superlative filtered features.
- Comes With Zero IT Cost: MIMI is based on a powerful cloud platform. It ensures you get a robust and high performance platform without having to worry about software upgrades and hardware maintenance.
- Has Composite Score for Selected Categories of Variables: To better understand the prosperity of a district and penetration of assets, composite score for selected categories of variables like agriculture, financial services, media ownership, and vehicle ownership are provided.
Testimonials about MIMI:
- Mr. Santosh Desai (MD & CEO, Future Brands Ltd.)
"MIMI fills a crucial gap by putting together a comprehensive database that will provide immense value to business and research alike."
- Mr. R. Narasimhan (Former President of ORG/Blackstone Market Facts and has been associated with AC Nielsen ORG - MARG as an advisor for over 10 years)
"MIMI is a tool developed after extensive research and built on a host of secondary data, using advanced statistical techniques."
- Dr. N. Bhaskara Rao (Chairman, Center for Media Studies)
"MIMI is an invaluable one-stop reference source and master guide. It cannot be avoided by anyone interested in strategic marketing at macro and micro levels."
Main sources of data utilized by MIMI:
- The Census of India - 2011
- Planning Commission (Government of India)
- Ministry of Agriculture
- Department of Agriculture and Cooperation
- Agricultural Marketing Information System Network
- National Horticulture Mission
- Live Stock - Department of Animal Husbandry (2007)
- Reserve Bank of India (2009)
- Fertilizer Association of India (2009-2010)
- Audit Bureau of Circulations (January-June 2010-2011)
- National Sample Survey Office (2009-2010)
- Bureau of Economics and Statistics of States and UTs
MIMI can be used by strategic decision makers to make informed marketing decision in various industry sectors Advertising, Manufacturing, FMCG, Durables, Banking and Finance, Food Products, Automobiles, Pharmaceuticals, Travel and Hospitality, Telecommunication, Agriculture & Agri-processing, Clothing & Textiles, Retail, Packaging, Delivery Services/Logistics, ICT-Information& Communication Technology, Environment & Waste, Transportation, Diamond, Gems and Jewellery, Gas Distribution, Oil & Gas, Power Generation & Distribution etc.
MIMI can also be used by researchers, consultants, entrepreneurs, academicians and students to get a better understanding of markets and their potential across India.
Dr. Vina Vani, Dr. Shailesh Yagnik and Dr. Rohit Trivedi are the thought leaders behind MIMI.