In case you think my complaints about the quality of market research studies from India is just sour grapes, let me highlight an example of what I mean. There is a company called Databridge Market Research that has a report about the global weight loss & obesity management market. Price: $4,200. No. of pages: Unknown, not specified. The weight loss market is something we REALLY know well, having tracked it for 28 years.
When we obtained a table of contents and description for this report, and an email from their analyst, we were told that we could get up to 30 hours of "customization" that would take 10-15 days to complete, possibly at an additional cost. This customization would fill in the gaps to include more information that we need.
After a review of the TOC and the companies covered, here's what we found:
- Only 2014 and 2015 "historical" sales/revenue years are provided, against which they will make an 8-year forecast to 2024. Really? A lot of things happen quickly in the U.S. weight loss market, like new obesity drugs entering the market, shifting consumer preferences (clean eating, ketogenic diets, celebrity diet books), recessions, wars, bad winter weather that affects meeting attendance at firms like Weight Watchers, etc.
- eDiets.com was included among the competitor, even though they are out of business several years now.
- Major diet companies like Medifast are not included in the analysis.
- The focus is mainly on fitness equipment rather than diet programs.
- There is no mention of medical weight loss franchises, which are becoming more popular and are growing.
- No coverage of of obesity screening and counseling under Obamacare/ACA.
- No mention of dieter demographics, a key piece of the puzzle.
Why should a a client have to wait 10-15 days to make the report into something it should have been, i.e. whole, in the first place? And what if I needed that report and forecast today or tomorrow for a meeting, instead of waiting 10 days?
$4,200 for an incomplete and inaccurate report? I don't think so.
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