MUMBAI: Mudra Institute of Communications, Ahmedabad (Mica) has launched a 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 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.
Mimi can be used by strategic decision makers to make informed marketing decision in various industry sectors like advertising, manufacturing, FMCG, durables, banking and finance.
Mimi can also be used by researchers, consultants, entrepreneurs, academicians and students to get a better understanding of markets and their potential across India.
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 prioritisation.
- 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 ,you can perform a large number of functions like execute simple arithmetic functions, customise 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. While the industries across all the verticals have understood and appreciated the importance of Cloud Computing. Mimi ensures that clients get a 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.
Future Brands MD and CEO Santosh Desai said, "Mimi fills a crucial gap by putting together a comprehensive database that will provide immense value to business and research alike."
Center for Media Studies chairman Dr N Bhaskara Rao said, "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."
