Among the essential steps to ensure success in a foreign venture is acquiring a deep understanding of the local market. For businesses eyeing Vietnam as their next strategic destination, comprehensive market research is a crucial factor that cannot be overlooked. This is where the expertise of market research companies in Vietnam comes into play, offering valuable insights and actionable intelligence that can pave the way for success.
This step is critical while building your strategic plan for a successful market entry into a new market, like Vietnam. It assists you in assessing the viability of the market, establishing the kinds of marketing messages you should offer and how to convey them, as well as the demands of your audience and your target market for your goods or services. For emerging markets, timing is a crucial factor in opening a branch office or introducing a new market, and only proper research will give you an idea of whether or not the timing is right.
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This article lists a few of the most widely preferred market research firms that know the ins and outs of the emerging Vietnamese market and are trusted by international investors in Vietnam.
1. Orissa International
Orissa supports businesses looking to expand into Southeast Asia’s major markets, including Singapore, Malaysia, Thailand, Indonesia, Vietnam, and the Philippines. What sets them apart from the competition is their focused local knowledge of the region of SEA, and their unique selling proposition is their bespoke solutions for companies in the region. These customized market entry solutions include: analyzing the market and the factors that will affect your company, identifying key growth opportunities, and interviewing key players in the market to collect relevant data. We recommend Orissa for businesses specifically looking to expand their presence in SEA.
2. Milieu Insight
Milieu Insight is Southeast Asia’s leading full-stack consumer research and data analytics company, renowned for its expertise in providing brands and businesses with valuable insights and market research data. Operating in Singapore, Malaysia, Thailand, Indonesia, Philippines, and Vietnam, Milieu Insight’s industry-transforming solutions were awarded several prestigious awards, including Campaign Asia’s Market Research Agency of the Year (Gold) and Tech MVP. Its one-stop insights platform, Canvas, offers tools for analyzing and visualizing consumer opinion data across a multitude of lifestyle topics and sectors, powering businesses to make better, more impactful decisions and strategies.
3. CIMIGO
Established in 2002, Cimigo is one of the leading market research firms in Vietnam and Indonesia. With 120+ research experts on the team, Cimigo provides businesses with impeccable market entry research, from market size, target audience, and underlying opportunities to risks involved.
Cimigo provides infallible research data in the following areas:
- Financial Services
- Automotive
- Healthcare
- Retail
- Education
- Travel
- Hospitality
- Consumer Goods.
Cimigo’s experts have a knack for understanding customers’ thoughts and exploring their emotions at certain lengths through comprehensive surveys. Cimigo leverages a multifarious mix of online, mobile, and personalized approaches to understanding what motivates consumers. They are only located in Indonesia & Vietnam for now, therefore we recommend Cimigo to anyone doing business in these two emerging markets.
4. YCP Solidiance
YCP Solidiance is a strategic consultancy firm based in Asia with 17 offices in Asia, North America, and Europe. They are a unit of the YCP Group, which is a worldwide management consultancy and primary investment firm. The YCP Group and Solidiance have combined to become YCP Solidiance. Their journey began in 2006, and their worldwide presence has continued to grow since then.
They provide strategic consulting services to a vast client base in a wide range of topics. They strive to deliver the finest possible advisory services to their clients by having a presence in over 20 important Asian markets and beyond.
Read More: In-Depth Market Research Strategies for Enhanced Business Growth in 2024
Their team of experts has extensive experience and technical skills in a variety of sectors, allowing them to assist customers in making better business decisions. They not only develop ideas but also put them into action firsthand in their enterprises to ensure an advantageous impact.
The following are the industries YCP Solidiance operates:
- Automotive & Mobility
- Chemicals & Energy
- Constructions & Infrastructure
- Consumer & Retail
- Finance
- Healthcare
- Manufacturing
- Private Equity & Investment
- Technology, Media & Telecommunication
5. Nielsen Holdings Inc.
Nielsen Holdings Inc. is an information, data, and market measurement giant based in the United States with a presence in Vietnam. The firm is currently a component of the S&P 500 and is listed on the New York Stock Exchange. As of the publishing of this article, Nielsen stands as the largest market research company in the world, with a reported annual turnover rate of US$6.5B.
Nielsen provides the media business with the most precise knowledge of what people listen to and watch by linking clients to audiences. Nielsen tracks audience preferences across all channels and platforms, including podcasts, streaming TV, and social media. Companies and advertisers can recognize the most critical possibilities and drive growth when they are genuinely linked to their audiences.
Nielsen’s team strives to maximize clients’ ROI by acknowledging how their advertising and marketing approach affects their audiences and consumer behavior in detail.
Due to its size, Nielsen generally serves the largest corporations and multinationals operating in Vietnam.
6. Kadence International
Since its inception in 1991, in London, Kadence International has helped clients looking for market opportunities across the world, with its offices in Asia, Europe, and the US. Despite their global presence, they leverage personalized approaches to the smallest of projects. Kadence Vietnam, with its team of highly qualified members, has a deep understanding of the cultural and ethnological roots of the concerned region.
With numerous nominations and awards in the past two years, and over 900 projects handled so far, Kadence International reigns in the field of market research. They conduct effective research in the following sectors:
- Advertising
- Agriculture
- Animal Health
- Automotive
- B2B
- Consumer Goods
- E-commerce
- Finance
- Food and Beverage
- Kids and Youth
- Media
- Technology
- Telecommunications
7. Virac Research
Virac is an entirely local firm only focusing on the Vietnam market. They specialize in particular about Industry Research, as they have one of the most comprehensive databases on all companies registered in Vietnam, with key data around their size, industry, and more. Their unique selling point revolves around their deep understanding of the Vietnam market, backed by a plethora of data, that most competitors don’t have, specifically on Vietnam. We recommend Virac for any company needing assistance with conducting an R&D plan in Vietnam.
8. Q&ME
Q&Me is a market research firm that provides unparalleled consumer trends and insights for business success in Vietnam. They are based in Japan with branch offices in Vietnam & Singapore. Q&Me leverages cutting-edge technology to conduct quantitative and qualitative surveys online to deliver crystal clear, and actionable market data at affordable prices.
As Vietnam’s leading market research firm, Q&Me strives to re-invent market research with technology. They operate in two ways: For online market research, an online chat survey connects you with the ones you would like to know more whereas, for offline, interviewers collect the data by conducting surveys through their in-house web and mobile application.
The following are the industries Q&ME operates:
- Food & Beverage
- Technology
- Manufacturing
- Consultancy Agencies & Others.
How can InCorp Vietnam help with Market Research?
In the ever-evolving landscape of Vietnam’s dynamic economy, market research plays a pivotal role in guiding businesses toward success. InCorp Vietnam emerges as a crucial ally for entrepreneurs and investors seeking comprehensive market analysis and insights.
InCorp Vietnam brings a wealth of expertise in market research, offering tailored solutions to meet the unique needs of your business. Whether you are exploring market trends, evaluating consumer behavior, or strategizing for growth, our team of experts is equipped to provide valuable insights.
About Us
InCorp Vietnam is a leading market entry and corporate services firm in Vietnam. We are part of InCorp Group, a regional leader in corporate solutions that encompasses 9 countries in Asia-Pacific, headquartered in Singapore. With over 1,500 legal experts serving over 20,000 Corporate Clients across the region, our expertise speaks for itself. We provide transparent legal consulting, setup, and advice based on local requirements to make your business fit into the market perfectly with healthy growth.
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