Management Research as Helping tool for Industrial Research

Industry research is a vital tool for the survival of an industry in today's competition dominated market. Industry research is required to be carried out in order to increase sale of goods or products. Research pertaining to any industry encompasses the various means by which a company can enhance sales and retain the consumers. Industry research comprises of data related to growth, size, demarcations in the market and various other aspects. In addition, an industry research report also throws light on domestic and international markets in context related to industrial technology, information on patenting, Research and development, emerging technologies, industry trends, industry analysis, industry forecasts etc.,. In order to carry out a research, necessary data pertaining to the particular industry has to be gathered. Equal information is not always available owing to the differences in age, technological aspects, size etc., of a company within an industry. The business world is becoming increasingly competitive due to rapid advancement of Internet technologies whereby many business organizations have incorporated the web as the new marketing channel to reach out for their stake holders in the global market, particularly the suppliers and the customers. Many companies are finding it difficult to sustain competitive advantage in today's markets as more and more new entries are competing in the same market segment, also known as the red ocean market which has become overcrowded and profits are thinning. With the looming of the possible recession facing the largest economy in the world and possibly the whole world, the future of business organizations look groom and many of them will finally collapse if nothing is done about it. The current research paper will focus on; Purpose of Industrial Research, How Industrial Research should be carried out?, India’s concern on Management Research, and finally Benefits of Management Research to industry.