Synovate Worldwide Mulls Entering Belarusian Market
Prime-Tass
Global market research company Synovate Worldwide considers entering the Belarusian market, Synovate Russia CEO Panicos Ioannides said in an interview with Prime-Tass.
“We consider entering this market and even opening our office here, but it depends on our global clients’ need for market research here. As soon as we make sure our market research is required on a regular basis, we will have an office in Belarus,” Ioannides said.
“Synovate has representative offices throughout Europe except for Belarus, and we would like to have no “blanks”. Our work here entirely depends on the companies we are already working with,” he said.
So far Synovate clients have had no need to keep a watchful eye on Belarus’ markets, which is due to low competition, he said. “Although market research helps promote brands, augment sales and boost revenue, low competition makes it unnecessary. Analyses are required when brands start fighting for customers and studying their preferences,” Ioannides said.
Belarus is regarded as a market of great opportunities, but research is sporadic, which makes it hard to outline tendencies. “Market research is an instrument enabling the customer to hear what exactly the consumer wants – brands will get brighter and more appealing, but the customer must have a clear understanding of the purpose of studies,” Ioannides said.
Belarus’ clients of Synovate include NESTLE, Coca Cola, British American Tobacco.
He commended British-American Tobacco Trading Company, mentioning its extensive investment and transparency, open information exchange between the company and clients.
Synovate Worldwide is a global network of market research agencies with 115 offices in 52 countries. At the beginning of 2003, the businesses which comprise the Aegis Research network were rebranded as Synovate, creating one of the largest custom market research agencies in the world.
Companies which became Synovate were Market Facts and its subsidiaries in the Americas, Asia Market Intelligence and Research Fact in Asia Pacific and Market&More, Pegram Walters, Demoscopie, The Sample Surveys Research Group, INNER Strategic Research and MEMRB Custom Research Worldwide in Europe, the Middle East and Africa.
Russian clients of Synovate include Procter&Gamble, Coca-Cola, WorldBank/EBRD, American Express, Intel, HP, Avon, Shell, BP-TNK, EBRD, Hyundai, Citroen, Volkswagen, Unilever, Bosch.