Mr. ANM Ziaul Islam Mithu is an expert strategist, market researcher, and analyst currently employed as the Managing Director for Insights, Kantar Bangladesh. He has completed his MBA in Finance from the Institute of Business Administration, University of Dhaka. Over the years, he has developed an array of skills and interests, such as data interpretation, analytical skills, and management. He has a track record of working in both the side, research agencies and research users.
In a recent conversation with Bangladesh Brand Forum, he spoke about the growth of Marketing Research in Bangladesh and shared his experience of working in the industry for more than 18 years.
BBF: What do you see as the most exciting trend happening in the Marketing Research industry right now?
Ziaul Islam: Well, I can clearly see that there is a shift in demand and supply for market research. So far, we have seen that only the MNCs had the practice of using research as that is there in their DNA globally. They used to be our primary clients; I mean taking our services only. Now we are seeing the interest growing among the local companies as well. Local companies have begun to understand that they must be more competitive, and research is more required. Therefore, they are also showing interest in Marketing Research. As a result, currently, some of our biggest clients are the local giants.
BBF: How would you evaluate the transformation of Marketing Research in Bangladesh?
Zia: Well, as I said, the business was limited to a few clients earlier. But now our client base is increasing, and many new businesses who were not keen to get research services are now interested. In India, we have a lot of expertise. India is a part of the global supply chain, and a lot of expertise lies in India. We are always connected to that level of expertise, and we are bringing those here locally. We have local talents, and at the same time, we are connected to our India team. So, all the knowledge and expertise are transferred real time.
BBF: what are the plans for Kantar in Bangladesh and vision for the next two or three years for Kantar’s growth in Bangladesh?
Zia: Bangladesh is a growing economy, and the market is also supporting it. As I already have said that new businesses are now looking for research services, we have been making ourselves ready for this over time. Currently, we have some excellent young talents working in the industry. As the industry is very much talent focused, we have been investing on people and getting ready for the future, for expanding business.
BBF: Kantar has a penetration of over 90 markets globally and locally. Given the vast data and insights Kantar has, how do you see the consumer experience and behaviour shifting or changing, especially those of the Gen-Zs?
Zia: Things have been now much deeper to the axis of connectivity and access to the Internet. Other things are pretty much universal now, like the Gen-Zs you’re talking about. Like if we go back 50 years earlier, something in trend in America would come a decade later to Bangladesh. Now it’s happening on the same day. What happening in America now, is being followed by Bangladesh’s metro people, or even the rural people who are smart, who are Gen-Z. These trends are getting transferred immediately in real-time.
BBF: Since you have a vast experience of 18 years in market research and consultancy, how have marketing research and consultancy evolved in Bangladesh?
Zia: If we talk about the research industry itself, especially market research in Bangladesh, it is probably not even 40 years old. So, research has so far been very traditional as it is conducted face-to-face. It is time to utilize technology and online facilities to conduct market research. It is not only about if we are ready for that, rather, we must think about whether the market is ready. We should highly consider the fact that how much our clients are ready to pay more for online study. Even if evolution is going on differently, I want to mention that the research industry has always been underpaid in Bangladesh. However, now the industry is getting ready to be in sync with global learning and practices. I think the market will be ready soon. But let me share one interesting thing with you. Back then, when I was taking market research as my career, very few people were thinking the same. But now I see a lot of young people are considering market research as a good career.
BBF: Any final remarks for the readers?
Zia: we are very optimistic about Bangladesh. All the research and reports say that Bangladesh will grow and become one of the top consuming markets soon, so along with that, I believe, the market research industry will also grow. Thanks to the readers.
Interviewed by Mohammad Sifat
