A SUMMER INTERNSHIP PROJECT REPORT ON

(Summer Internship Project at ACE Research)

Undertaken at

(ACE Research Pvt. Ltd.)

Submitted in the partial fulfilment of the requirement for the award of the degree of

Bachelor of Commerce (Hons)

Batch (2022 – 2023)

Submitted By:

RISHABH BOTHRA

Enrolment No: 201633100036

B.COM (Hons) - SEMESTER V

Under the Guidance of:

MS. SUBHASHREE

Assistant Professor Faculty of Commerce

PARUL UNIVERSITY
Parul Institute of Commerce
P.O. Limda, Tal. Waghodia, District Vadodra-391760

1
 DECLARATION
This is to certify that I have completed the project titled “Summer Internship
Project at ACE Research” under the guidance of MS. SHUBHASHREE in the
partial fulfillment of the requirement for the award of the degree of “Bachelors of
Commerce” from “Parul Institute of Commerce, Parul University, Vadodara.”
This is an original work and has not been submitted anywhere else.

Name of Student: Rishabh Bothra

Enrollment Number: 201633100036

Course: B. Com (Hons) Semester V - Batch: 2022-2023

Sign:
Date:

I
 Certificate of Originality

This is to certify that the project report entitled “Summer Internship Project at Ace
Research” Submitted to Parul University, Vadodara in partial fulfillment of the
requirement for the award of the degree of B. Com (Hons) is an original work
carried out by Rishabh Bothra, under the guidance of Ajay Beniwal (Company
Mentor), Ms. Shubhashree (Faculty Guide) & Dr. Ajay Trivedi (Dean -PIC). The
matter embodied in this Summer Internship Programme is a genuine work done by
him/her to the best of my knowledge and belief and has not been submitted before,
neither to this University nor to any other University for the fulfillment of the
requirement of any course of study.
We are thankful to ACE Research Company for having allowed our student to
undergo project work training. The authenticity of the project work will be
examined by the viva examiner which includes data verification, checking duplicity
of information etc. and it may be rejected due to non- fulfillment of quality
standards set by the Institute.

SIGNATURE OF GUIDE

Date:

II
III
 PREFACE

This report is prepared to fulfill the requirement of the B. Com (Hons) program
of Parul University Parul Institute of Commerce, Vadodara on “Topic –
Summer Internship Project at ACE Research”.

In every field of education imparted to the student, working as Intern an immense

role in bringing out and exhibiting the qualities which is helpful in implementing
student’s knowledge in the practical life. In spite of the theoretical knowledge
gained through classroom study, a person is incomplete if not exposed to the ground
realities of the business world. He/ she may have to face many professional hurdles
after his graduation; these will be difficult to overcome without any firsthand
experience of business.

In this context, 6-7 weeks of Summer Internship has been designed to prepare
students aware of the happenings of the real business world. An internship training
is a temporary endeavor, having a defined beginning and end (usually constrained
by date, but can be by funding or deliverables), undertaken to meet unique goals
and objectives, usually to bring about beneficial change or added value.

The temporary nature of projects stands in contrast to business as usual (or

operations), which are repetitive, permanent or semi-permanent functional work to
produce products or services. When it comes to the practical knowledge in field,
there are immense areas to be specialized in. One can go for several functional areas
of company or to study about the process of each Department in the Firm.

Getting the deep and practical knowledge of this field can be of great help to the
students. This internship opportunity at ACE Research is based on understanding
the Practical aspects of marketing research. I have taken care to deal with the
prescribed topics in sufficient depths and in a very lucid language.

IV
 ACKNOWLEDGEMENT

The satiation and euphoria that accompany the successful completion of the
project would be incomplete without the mention of the people who made it
possible.

I would like to take the opportunity to thank and express my deep sense of gratitude
to my Corporate Mentor Ajay Beniwal, Institute Dean-PIC, Prof. Ajay Trivedi and
my Faculty Mentor Ms. Shubhashree. I am greatly indebted to both of them for
providing their valuable guidance at all stages of the study, their advice,
constructive suggestions, positive and supportive attitude and continuous
encouragement, without which it would have not been possible to complete the
project.

I would also like to thank Dr. Ashwinkumar A. Patel (SIP Coordinator-PIC) who
has co-operated with me continuously and indeed, her valuable contribution and
guidance have been certainly indispensable for my project work.

I am thankful to Ajay Beniwal (Corporate Mentor) for giving me the opportunity to

work with Ace Research. I owe my wholehearted thanks and appreciation to the
entire staff of the company for their cooperation and assistance during the course of
my Summer Internship Programme.

I hope that I can build upon the experience and knowledge that I have gained and
make a valuable contribution towards this industry in coming future.

(Signature of Student)

Name of the Student

V
 EXECUTIVE SUMMARY

This summer internship project report highlights some major works carried out by
me in terms of academic and non-academic perspectives. The scope of this project
is to identify and describe the analysis carried out, projects completed, experience
gained and focuses on the achievements as an intern.

For the internship I was sent to Ace Research Limited to complete my internship. I
found myself rather lucky to work in such an environment that Ace Research has
provided and got introduced to some of the new terms, ways of marketing, market
knowledge and how to analyze and strategize the market and many more of such
life changing things.
The projects that I worked in certainly helped me by increasing my practical
knowledge depth. The research and development programs were particularly
helpful in flaring my views regarding market and marketing knowledge.

There were several challenges that I faced during the span of this internship like at
the starting phase of this internship it was difficult to deal with the data and research
analytics but while coming towards the end of his internship, I discovered that some
of my communicative and management skills have been improved to a great extent.
Besides there were some dynamic teachings which will obviously help me in future
jobs.

After doing the internship I became more skilled, more confident and more
professional than I was before.

In the first chapter of this project, you will find the brief introduction of Marketing
Research sector industries with respect to their process, growth and evolution of
marketing research, Micheal Porter’s five force Analysis of Marketing Research
industries and various other details regarding Market Research industries.

VI
In the second chapter, I have given a brief introduction and history of ACE Research
with respect to the goals, mission, vision and objectives of the company. I have
described the organizational structure and had given the list of Board of Directors
and key executive team. In this report, I have given the financial results of the
company of previous 3 years and at last I have mentioned the achievements of the
company.

In the third chapter, I have discussed about Marketing Research Department

activities and how Marketing department is interdependent with other departments,
Marketing documents required at the time of research, and SWOT analysis of
Marketing Research.

In the fourth chapter, I have given the objectives of my Summer Internship Report
and further I discussed about my trainings related aspects and information and at
last I finally concluded my Summer Internship Project report by providing
suggestions and conclusion.

At the end I have given references/bibliography of the report.

VII
 Table of Contents
Chapter Particulars Page
No.
Declaration I
Certificate of Originality II
Company Certificate III
Preface IV
Acknowledgement V
Executive Summary VI
Table of contents VIII
1 Industry Study 02
1.1 Introduction 02
1.1.1 Major types of Market Research 03
1.1.2 Process of Market Research 06
1.2 Growth and Evolution of Industry in India 07
1.3 Industry Analysis: Michael Porter’s five force model 08
2 Company Study 12
2.1 Company Profile 12
2.1.1 Vision of the Company 13
2.1.2 Mission of the Company 13
2.1.3 Goals of the Company 13
2.1.4 Objectives of the Company 14
2.2 Organizational Structure 14
2.2.1 Board of Directors 15
2.3 Key Executive team 15
2.4 Products/Services Offered 16
2.4.1 Services Portfolio 16
2.5 Key Financial/Operational results of last 3 years 17
2.5.1 Key Figures 18
2.6 Milestones Achieved 19
3 Departmental Study 21
3.1 Department/Area of Study 21
3.1.1 Activities of Department/Area under study 22
3.1.2 Documents maintained 23
3.2 Interdependence of Department on other departments 25
3.3 S.W.O.T. Analysis 26
4 Work/Assignments/Training 29
4.1 Objectives 29
4.2 Data of Work/Assignments/Training 29
4.3 Analytical study of Work/Assignments/Training 29
4.4 Conclusion 30
4.5 Suggestions 30
Bibliography 32

VIII
 Chapter-I
INDUSTRY STUDY

Page 1 of 33
 Chapter-I
INDUSTRY STUDY

1.1. Introduction

Marketing research is a systematic collection, identification and analysis of

quantitative and qualitative data about the issues related to marketing products or
services for purpose of assisting management in decision making related with the
identification of problems and providing a relevant solution for that problem which
helps to create various opportunities in the marketing. The major goal is to identify
and evaluate that how 7p’s of marketing mix impacts consumer behaviors. It leads
to study all the activities which are associated with purchase and use of goods and
services and how does the attitudes, emotions and preferences of consumer affects
buying behavior.

Some of the leading market research companies in India are:

Nielsen India, Ipsos India, Kantar IMRB, International Data Corporation (IDC)
India, Kantar Millward Brown, RNB Research, Majestic MRSS, Kantar TNS India,
Bare International, MarketXcel etc.

Market research is the practice of evaluating the viability of a new service or

product by interviewing prospective customers firsthand. Market research enables
a business to identify the target market and obtain consumer comments and other
input regarding their interest in the good or service.

This kind of research can be carried out internally, by the business itself, or by an
outside market research firm. Surveys, product testing, and focus groups are all
viable methods. Typically, test subjects receive free product samples or a small
stipend in exchange for their time. The development of a new product or service
requires extensive research and development (R&D).

The goal of market research is to examine the market for a specific product or
service to determine how the target market will respond to it. This can involve
gathering data for market segmentation and product differentiation, which can be

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used to target advertising campaigns or figure out which characteristics customers
value most.

To finish the market research process, a company must perform a number of tasks.
Based on the market segment being looked at, information must be gathered. To
find any patterns or pertinent data points that it may use in the decision-making
process, the firm must analyse and understand the generated data.

1.1.1. Major Types of Market Research

➢ Primary Research - Primary research is data that you compile on your own
while using a variety of techniques to reach the target audience directly. You
own the data set because it is made up of data you created.
o Participants' responses are gathered as raw data, which is then analysed to
draw conclusions from trends and comparisons about two types of results:
exploratory information (which establishes the nature of a problem that
hasn't yet been clearly defined) and conclusive information (carried out to
address a problem that exploratory research identified).
o Focus groups: For primary research, focus groups bring together a sample
of individuals who represent your target market (based on demographics
and characteristics). A conversation in which inquiries about a good or
service are made is conducted by a key researcher or interviewer.
o When time is limited, this strategy works well for gathering many people's
opinions at once, but it has management problems of its own. The
interviewer must plan a strategy for gathering responses and recording them
while conversing with a large number of people.
o Participants may be adversely affected by the group environment due to
acquiescence bias (the urge to agree in order to please the interviewer),
dominance bias (stronger participants might influence the results of less
dominating participants), or researcher bias (where the research leads or
impacts the participant responses indirectly).
o One-on-one interviews - This technique involves a two-way dialogue about
study issues taking place directly between an interviewer and another

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 participant.
o This offers a structured environment where the interviewer can pay attention
to what is being stated and look into an answer further. The interviewer can
also pick up on nonverbal indications from body language that can guide
the interviewee in choosing which topics to explore in further depth.
o Acquiescence and researcher biases, for example, still exist in this style. The
interviews must be conducted, and data collection must follow.
o Open-ended and closed-ended questions are compiled into surveys, which
are then distributed to respondents electronically via email or survey
software that gathers responses automatically.
o Since surveys require participants to be physically present with the
interviewer, they are a great way to do primary research. The survey may
be completed from any location with an internet connection, giving
participants the freedom to utilise any device and allowing interviewers to
reach out to respondents in any time zone. But preparation is essential since
the researchers need to divide the market into segments and compile a list
of respondents to the survey. Using pre-existing marketing lists or hiring a
panel can help with this.

➢ Secondary Research- The utilisation of data that has already been gathered,
examined, and published constitutes secondary research (and therefore you
do not own this data). As an illustration, consider market research:
o Desktop research - This can include publicly available information from
think tanks, government agencies, or academic institutions. Paid research
from academic journals, training facilities, and commercial sources like
newspapers can also be included.
o Since the majority of information is public domain, secondary research of
this kind is less expensive than primary research techniques.
o Secondary research frequently serves as a knowledge base and preparation
for primary research initiatives. When the material acquired might not be
sufficient to explain the findings, primary market research would be utilised
to improve comprehension.
o Since manual administration of the amounts of information might be

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 challenging, there is also a requirement for a recording system that can
handle large datasets.
o As we've seen, both primary and secondary research have benefits and
drawbacks, but they work best when done in tandem. When the data are
combined, you can feel confident acting on any hypotheses you may have
because the data support them.

➢ Qualitative Research- The gathering of primary or secondary data from

the market that is not numerical in nature and hence challenging to quantify
is known as qualitative market research.
o This kind of market research is gathered by researchers since it can give the
data additional depth.
o Instead, then pinpointing a precise truth held by a target market, this type of
market research is utilised to summarise and infer. For instance, qualitative
market research can be carried out to determine how a new target market
will respond to a new product in order to transform that response into a
concise justification for the business.

➢ Quantitative Research- The gathering of primary or secondary data that is

numerical in character and hence more readily gathered is known as
quantitative research.
o This particular sort of market research is gathered by researchers since it
may offer historical benchmarking based on hard data.
o There are many methods for gathering this information, including polls,
surveys, desk research, web statistics, and financial records. These methods
can be exploratory in nature at this point without going into great detail.
o Researchers can use quantitative market research to lay the groundwork for
qualitative market research that will further explore their hypotheses.

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1.1.2. Process of Market Research

Step 1: Identify the Problem- Any marketing research project should start with a
precise identification and definition of the issue you are attempting to address. You
begin by identifying the marketing or business issue that needs to be resolved and
for which you require more details in order to come up with a solution. Next,
describe the goals of the research: What do you want to learn once the research
endeavor is finished? What specific data, advice, or suggestions must be obtained
from the study for it to be a worthwhile use of the organization's time and resources?

Step 2: Develop a Research Plan- The following step is to create a research

strategy once you have defined the problem, your research goals, and a preliminary
set of research questions. Finding the specific data, you require to address your
concerns and meet your goals is essential to this plan. Do you need to comprehend
what customers are saying about a product? Are you trying to get a better
understanding of client wants and associated behaviours? Do you require
information on sales, spending, or revenue? Do you require knowledge of the goods
offered by rivals or insight into what will draw in potential clients? When do you
need the information, and how long will it take to receive it? What finances and
resources are on hand?

Step 3: Conduct the Research- The process of marketing research can include
several enjoyable and engaging research activities. Things are about to change after
you struggled with the gaps in your understanding of market dynamics, which
inspired you to start a marketing research study in the first place. By conducting
research, you can start to produce data that can help resolve your pressing marketing
queries.

Step 4: Analyze and Report Findings- The process of turning primary and/or
secondary data into knowledge and insights that address the research questions is
known as analysis of the market survey data. This data is distilled into a manner
that management can use, typically a presentation or thorough report.

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Step 5: Take Action- The marketing research project is finished once the report is
finished, the presentation is done, and the suggestions are made, right? Wrong.
The following stage, which is possibly the most crucial of them all, is to act on the
findings of your research.
This phase might appear simple if your project does a good job of evaluating the
results and converting them into suggestions for the marketing team and other
departments of the company. The "take action" stage can energise the team to move
further and faster in the same direction when the research findings verify a path the
business is already on.

1.2. Growth and Evolution of Industry in India

In India the Market Research Industry is about 3 decades old having 2-3 key players
in the first decade. The second decade saw the arrival of more marketing research
companies owing various growth opportunities. At present there are about 15-16
key players in the Indian Market Research Industry.

The growth rate was about 12-15% before there was a recession period in early
2000s and currently its growth rate is about 18-20% per annum.

At present the estimated size of Market Research industry in India is around 110
million USD (approximately 500 crores INR)

The marketing research sector in India has a 36-year history and a 325-crore annual
revenue. The market has been increasing at a rate of roughly 10% each year for the
past few years. In India, rapid moving consumer items have received increased
attention in marketing research (FMCG). Additionally, the media measurement
industry in India is expected to experience the greatest increase. The automotive,
telecom, healthcare, and durable goods industries might come next. The market
segments that are expanding across all industry sectors are customer happiness and
customer insights. These days, large corporations spend anywhere from $5 million
to $100 million on marketing research.

Page 7 of 33
 1.3. Industry Analysis: Michael Porter’s Five Force Model

Source: https://www.edrawmind.com/article/porters-five-forces-analysis-definition-
and-examples.html

I. Threat of New Entrants: There is always a threat factor in any kind of the
business. The new entrants into the business may lead several problems for
the business. For the particular market research industry as it is growing
with a high rate every year the competitors in this field is also increasing
with a high rate. This industry has a great significance and it also helps in
the growth and development of several companies with their research and
strategies. A company’s power is affected by the forces like new entrants
into the market. The lesser time and money it cost for any competitor to

Page 8 of 33
 enter into the market of any industry to be an effective competitor.

II. Bargaining Power of Suppliers: Supplier power is determined by

identifying that how many potential suppliers you have and for this
particular industry it relates to how many potential clients you have as in
this case they are the only suppliers. In the field of market research supply
power is directly proportional to the clients that a market research company
is having in their industry. In the industry of Market Research, the
bargaining power of suppliers could be defined as how effectively the
clients of industry is involved with the industry or company with their rates
and due to quality services, they are providing. It affects the competitive
environment and profit potential of the clients. The bargaining power of
suppliers is one of the major forces that helps shape the competitive
landscape of that industry.

III. Rivalry among existing competitors: It could be defined as it is a kind of

measure of the extent of competition among existing firms. Companies draw
clients in an industry with fierce competition by aggressively lowering costs
and implementing high-impact marketing efforts. This can make it simple
for suppliers and customers to find a better offer elsewhere if they don't
think you're giving them a decent deal. On the other side, if there is little
competition and no one else is doing what you do, you will probably have a
strong competitive advantage as well as a profitable business.

IV. Threats of Substitutes: This refers to the chance that your clients may
discover another way to carry out your services. It might be more affordable,
better, or both. When clients find it simple to move to another product or
when a new, desired product unexpectedly joins the market, the threat of
replacement increases. In the Market Research Industry, the are many other
companies out there which could offer better offers to clients and could
attract them. Therefore, there is always an risk of substitution in this
industry too.

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V. Bargaining Power of Buyers: In an industry, customers have "buyer
power" if there are relatively few of them in comparison to the number of
providers. This implies that switching to new, less expensive competitors
may be simple for them, which could ultimately result in price reductions.
Consider the number of customers you have (that is, people who buy
products or services from you). Think about the amount of their orders and
the expense associated with switching to a competitor. Dealing with a small
number of knowledgeable clients gives them more clout. However, buyer
power declines if there is minimal competition and a large client base. In
the Market Research Industry, it depends upon how better offers can a
market research company offer which would be suitable to their clients.

Page 10 of 33
 Chapter-II
COMPANY STUDY

Page 11 of 33
 Chapter-II
COMPANY STUDY

2.1. Company Profile

ACE Research was established on 12th September 2018. The Company offers
excellent ideas and services.

"Research is a dynamic international market intelligence organisation offering

complete research solutions and strategic intelligence services for Asian Companies
to become Global." They are one of the top businesses conducting online market
research in Europe, the Middle East, and Asia Pacific thanks to their experience and
precise panellist profiling. They are one among the companies with the fastest
growth. They are experts in market modelling, pricing, demand forecasting,
developing new products, market segmentation, tracking consumer value and
experience, and developing and evaluating advertising concepts. They are
supported by specialists in cutting-edge marketing science and have knowledge in
all main forms of qualitative and quantitative data collection using online and
offline approaches. You may be sure that their staff will provide you with only the
highest-quality information and services. Regardless of how challenging your
request may be, they are here for you. Their policy strives to stop any technological
abuse or the creation of false information.

In order to rate the credibility of their members, they use a variety of metrics and
standards. Participants in their surveys are truthful, give accurate information, and
are sincere when answering questions. They satisfy all of their clients' needs when
conducting surveys and provide prompt, high-quality solutions.

Page 12 of 33
2.1.1. Vision of the Company

The people, markets, products, and society all pique their intense curiosity. They
want to provide their clients with practical insights that will help them survive and
prosper in the world. At the core of all they do are security, simplicity, speed, and
substance.
For all of its clients' market research requirements, Ace Research aspires to be the
top international market research company. We establish enduring relationships by:
o To learn and understand each client’s business, objectives and goals.
o To collaborate with their customers.
o To became a trusted partner that their clients can count on.
o To apply proven market research techniques to business issues.
o To provide meaningful actionable results and solutions.

2.1.2. Mission of the Company

Ace Research is a market research company that is committed to using an analysing

actionable market knowledge to assist firms in making crucial business choices.
Ace Research wants to offer a variety of services through which they gather quick,
secure, and reliable data for their clients so they may take advantage of the market's
competition. They conduct quality control checks at every level of the survey to
guarantee the veracity and accuracy of the data provided to the client. To marketers,
advertising agencies, B2B and B2C customers, they want to offer specialised
solutions. Their capacity to provide proactive Market Research fieldwork services
is increased by their advanced technology and skilled personnel.

2.1.3. Goals of the Company

o To provide Quality Research to the clients

o To analyze various strategies which could help their clients grow.
o To establish a relationship between the clients and the company.
o With the help of various tools of marketing research, every research done
by the company should be in the boundaries of the law
o To offer and evaluate various strategies and techniques which could be
helpful for the clients

Page 13 of 33
2.1.4 Objectives of the Company

1. To know the Buyers

2. To measure the impact of Promotional Efforts
3. To know the Consumer Responses
4. To identify the target audiences for the companies
5. To identify market costs and profits
6. To master the External Affecting Factors
7. To design and implement several beneficial Marketing Strategies
8. To provide clients with practical knowledge that will help them navigate
and succeed in world.

2.2. Organisational Structure

Theaceresearch.com

ACE Research

Ajay Beniwal Manvinder Singh

(Partner (Partner
Associate) Associate)

Amar
Shruti Parakh Tripti jain
Choudhary
(client (chief research
(Director
development) officer)
Sales)

Page 14 of 33
2.2.1. Board of Directors

2.3. Key Executive Team

Name Designation
Manvinder Singh Partner Associate
Ajay Beniwal Partner Associate
Amar Choudhary Director of Sales
Tripti Jain Chief Research Officer

Amanpreet Kaur Head of Operations

Shruti Parakh Client Development Officer

Page 15 of 33
2.4. Product/Services Offered

Ace Research offers a variety of services so that their clients can take advantage of
the competitive market by receiving quick, secure, and accurate data collection. To
ensure the accuracy and dependability of the information provided to the client,
quality control checks are performed at each stage of the survey. They give B2B,
B2C, marketers, and ad agencies specialised solutions. Their cutting-edge
equipment and knowledgeable staff boost their ability to provide proactive Market
Research fieldwork services.

2.4.1. Services Portfolio

Qualitative Research-
• Depth-interviews
• Mini-groups, Triads, Dyads
• Ethnography Approaches
• Online In-Depth interviews
• Online Focus-groups discussion

Quantitative Research-
• Computer aided Personal interviews (CAPI)
• Computer aided Telephonic interviews (CATI)
• Telephonic Surveys
• Computer-assisted web interviewing (CAWI)
• Central Location Testing
• Pen and Paper Interviews (PAPI)

Page 16 of 33
Healthcare Research-
• Dermatologist
• Cardiologist
• Dentist
• General Surgery
• Nephrologists
• Gynecologist
• Ophthalmologist
• Oncologist
• Haematologist

Online Research-
• Audience Research
• Satisfaction Research
• Product Research
• Brand Analysis
• Post-sale or Consumer Research
• Database Research
• Psychological Profiling Research

2.5. Key Financial/Operational results for last 3 years

As the Company (Ace Research was established on 12th September 2018)

Therefore, the data of only last 3 years is available.

Page 17 of 33
2.5.1. Key Figures

2021 Revenue- 1476.41 lakhs

2020 Revenue- 1232.21 lakhs
2019 Revenue- 1087.79 lakhs
Organic growth in 2021- 16.54%
Organic growth in 2020- 11.72%
B2B Panel Breakup- 40%
B2C Panel Breakup- 60%
Operational Countries-

Source- Ace Research Panel Book-min.pdf (theaceresearch.com)

Page 18 of 33
Demographics-

Peoples Percentage
White 74.8%
Black or African American 13.6%
Asian 5.6%
American Indian & Alaska Native 1.7%
Native Hawaiian & Other Pacific 0.4%
Islander
Others 7.0%

2.6. Milestones Achieved

A study says that while evaluating the accuracy and originality of responses and
data collected by Ace Research, 92.75% of the total data was meaningful, which is
a great number in terms of any market research industry.

Page 19 of 33
 Chapter-III
DEPARTMENTAL STUDY

Page 20 of 33
 Chapter-III
DEPARTMENTAL STUDY

3.1 Department/Area of Study

Survey Programming- Ace Research offers round-the-clock project monitoring,

and the scheduled survey continues to gather the necessary information from the
pertinent respondents throughout the process. The replies could be gathered using
a matrix, a likert scale, several check boxes, or unique radio buttons using the
appropriate text boxes, texts, or audio-visual methods.

Data Analysis- Data analysis uses predictive methods to find patterns in the data.
Due to the fact that they highlight potential areas for process improvement, these
patterns are significant in decision-making. Organizations can use data analysis to
better control risk, identify fraud, and maximise the profitability of their client
relationships.

Research &
Development

Marketing administration
(4A's & 7p's)

ACE
Research

human
Finance resource

Service
department

Page 21 of 33
3.1.1. Activities of Department/Area under Study

Research & Development-

Understanding the environment, keeping up with economic trends, keeping abreast
of customer wants, and being aware of the strengths and weaknesses of peer rivals
are all part of it.

Administration-
The Administration Department offers technical and administrative support in the
areas of facilities, security, legal affairs, financial and strategic planning, human
resources (HR), and legal matters.

Human Resource-
This department is in charge of hiring qualified and experienced workers to fill open
positions in several departments. Additionally, it is in charge of organising training
sessions and orientation programmes for new hires, showcasing the best qualities
of the workforce, and inspiring employees to meet organisational goals.

Service Department-
A cost center that offers services to the rest of a business is the service department.
The manager of a service department is in charge of controlling expenditures or
staying within budgeted amounts.

Finance-
The money needed to fund the activities must be obtained and used by the finance
department. The financial experts evaluate both the immediate and long-term
funding needs.

Marketing (4A’s & 7P’s)-

A marketing division powers a company's advertising machine. It is in charge of
raising general brand awareness and directing new and returning customers to a
business's goods or services.

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Source- https://www.business2community.com/wp-content/uploads/2021/01/img_600a06082c40e.jpg

3.1.2. Documents maintained for planning, staffing, directing and

controlling purpose by department/Area under study

Documentation of Bylaws-
Company has to deal with a plethora of legal documentation as a business owner.
The company's bylaws are the main document that you are required to maintain.

Bylaws are the rules that the business has set to maintain control and regulation
over the organisation. The bylaws of a corporation serve as the authority's official
rules and regulations. They specify the organization's goals, duties, rights and
responsibilities of shareholders, as well as the dates and times of annual board
meetings. It also covers the procedure for appointing and dismissing directors.

It aids in creating the organisational structure for the company and defines each
employee's specific tasks. It streamlines the decision-making processes and aids in
the resolution of any disputes that may arise.

Non-Disclosure Agreement-
The safeguarding of sensitive information is a business' first line of defense. This
is what a non-disclosure agreement, or NDA, does. It aids in protecting information
that the organisation deems sensitive, including client and customer information,
financial data, and several other types of information.

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Companies occasionally need to communicate confidential information with their
personnel while working with contractors, freelancers, and employees. This
information is crucial to the business and might cost a fortune if it were to leak. In
order to protect their proprietary information, businesses require employees who
handle it to sign a non-disclosure agreement.

Employment Agreement-
Every employee has responsibilities and demands they must meet for the company,
and vice versa. The terms of the relationship between the company and the
employee are established by this agreement. The employee agreement demonstrates
the company's culture and vision in action. Although having an employment
agreement with each employee is not legally required, doing so serves as a safety
for the business. It is a list of legal documents that every company ought to possess.

Business Reports-
Business reports contain data concerning particular departments. It incorporates
elements of your organisation that already exist as corporate data, from which
analysis might yield results and projections. Business reports discuss a current
problem and project solutions using in-depth data analysis.
Typical information included in a company report includes sales figures, marketing
strategies, staff sizes, founder bios, feasibility studies, safety compliance, and more.

Financial Agreement-
You must have a firm understanding of your company's finances if you are a
business owner. Knowing whether you are on budget, gaining money, or
experiencing spiraling losses is crucial. That is revealed in a financial report. It aids
in assessing a department's productivity and aids in comprehending an annual
evaluation of the company's performance in general. These reports support your tax
or budget proposal submission. The main financial business documents that any
company needs are listed below.

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Partnership Agreement-
An agreement between two or more people who are creating a business entity and
have opted to split the profits and losses is known as a partnership agreement. The
partnership agreement is a business document that spells out each partner's specific
legal and operational obligations, debt commitments, and profit-sharing
arrangements.

And many more type of similar documents are to be maintained.

3.2. Interdependence of department/Area under study with other

departments/operational areas

Provides
Insight

Target Market
Market research Market Intelligence
Competitive Analysis Sales Forecast Personal Selling
Pricing Customer-account Merchandising
Advertising Selection After Sales Service
Product Development Account Management
Promotion

Provides
Marketing Support Sales

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3.3. SWOT Analysis

• One of the leading • Competition

research companies • Limited Market Share
in India. • Lesser Brand Recall
• Conducts large scale Comparitively
researches. another research
• Brand Presence companies.
• Research Speed

S W
• Build a solid Brand
Image.
• Stay away from
o T • Overhaul of the
business model.
• Acquisitions by more
Controversies. established players.
• Conducting research • Consumer Faith
with full care to avoid issues.
discrepancies.

Strengths:
The major elements of ACE Research's business are examined in its strengths,
giving it a competitive edge in the market. The strength of a brand can be attributed
to a variety of things, such as its financial standing, skilled personnel,
distinctiveness of its products, and intangible assets like brand value. The ACE
Research's SWOT Analysis's Strengths are listed below:
1. The top research, data, and insight firms in the world
2. Arrangements to convert data into insights
3. Conducts extensive research
4. Brand recognition across industries
5. Brand recognition across geographical boundaries
6. Some of its subsidiaries are Lightspeed Research, IMRB, and Added Value.

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Weaknesses:
A brand's shortcomings are specific areas of its business that can be improved to
strengthen its position. Some flaws can be described as qualities that the business
lacks or in which the competition excels. The ACE Research SWOT Analysis has
the following weaknesses:
1. A large number of consulting firms result in a little market share.
2. Brand recall is lower than with certain international consulting firms.

Opportunities:
Any brand has the potential to improve in certain areas in order to grow its customer
base. Opportunities for a brand can include geographic expansion, product
enhancements, improved communication, etc. The opportunities in the ACE
Research SWOT Analysis are as follows:
1. Create a strong brand image
2. Steer clear of disputes
3. Carefully conducting research to prevent discrepancies
4. Increasing advertising and brand development can help businesses.

Threats:
Any firm may face risks in the form of elements that could harm its operations.
Threats can come from a variety of sources, including increased rival activity,
shifting governmental priorities, alternative goods or services, etc. The following
dangers are listed in ACE Research's SWOT analysis:
1. Revision of the business plan
2. Purchases made by more seasoned gamers
3. Issues with consumer trust

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 Chapter-IV
WORK/ASSIGNMENTS/TRAINING

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 Chapter-IV
Work/Assignments/Training

4.1. Objectives

▹ To consider a variety of career opportunities in the dominant market segment.

▹ To develop a fresh viewpoint on corporate culture and workplace dynamics.
▹ To get opportunity for acquire fine skills, knowledge, attitudes, and
perceptions along with the experience to create own Identity.
▹ To have a greater understanding of the workings of Marketing Research.
4.2. Data of Work/Assignments/Training

I have worked there as an intern in Data Analyst, my job was to analyze and evaluate
the data’s, responses collected by the company through respondents. The responses
collected by the company are through various methodologies with a systematic
manner from any specific targeted audience.

4.3. Analytical study of Work/Assignment/Training

My work was to analyze the data collected through surveys and feedbacks and
arrange in into a systematic manner under the guidance of Mr. Ajay Beniwal who
is the Partner Associate at ACE Research. For my work I need to analyze responses
deeply and make a sheet of all the qualitative and quantitative responses in a
systematic manner.

When I started my work, it was a bit difficult for me to understand all the procedure
of working as a Data Analyst at ACE Research but with the time I got to learn so
many new things that could be helpful for me. Many tasks were assigned to me and
I faced several difficulties at start but by the end of this internship I was at a different
level where I was able to perform all the tasks accurately and systematically.

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4.4. Conclusion

Overall, I learned a lot from this internship. In addition to meeting many new
individuals, I have learned many new things. Many of my learning objectives were
met, but some couldn't be due to the circumstances. I gained knowledge about how
professionals operate. I discovered that funding, like in many organisations, is
crucial to a project's growth. There is still plenty to learn and develop.

Furthermore, I learned the value of objective education and the necessity of

understanding other people's perspectives. Additionally, the internship helped me
identify my strengths and flaws. This made it easier for me to identify the
information and skills I need to develop going forward. It would be preferable if
language proficiency allowed for full participation in projects. However, if I
practice/know more about the research procedures used in specific studies, I might
be able to complete some research assignments more effectively. Additionally, it
would be better if I could communicate and exhibit myself with more assurance.
Finally, this internship has provided me with fresh perspectives and the drive to
pursue a career in Marketing Research.

4.5. Suggestions

There are majorly 5 challenges that are faced by any Marketing Research Company.
First is separating signal from noise becomes challenging due to the overwhelming
amount of data. Every day, more than 500 new websites are added to the internet.
Sifting through the data manually is difficult and time-consuming. Getting the
proper data can be difficult due to the many existing strategies that must be juggled,
Second is Manual data collection runs the risk of producing low-quality data.
Growing data volumes can lead to manual mistakes brought on by human tiredness.
When the collected data is of poor quality, there is a strong likelihood that the
insights into the mined data will also be of poor quality, third is Customers'
expectations are rising as a result of the complicated business conditions.
Customers look to market research organisations for practical insights that will
enable them to make speedy, well-informed business decisions. Delivering
insightful strategic analyses within predetermined deadlines is becoming an

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increasingly difficult task for market research firms worldwide, fourth is getting
more and harder for market researchers to show their distinctive value and
innovative contributions to market research methodologies. The majority of market
research organisations struggle to differentiate themselves from the competition due
to the conventional methodology they use, and the last is the clients need quick
delivery of the most recent, intelligent information due to the fierce competition in
the market. This would give the clients a competitive advantage and enable quick
market expansion. The timescales, budget, and nature of the job that must be done
are frequently constrained by the clients.

So, to overcome with these challenges I suggest that the company needs to follow
a pattern of research through which only qualitative data or that that is useful to the
company should only be collected, they need an tech through which all the data
could get filtered in a way that could help the company grow.

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