Lucknow University (LU) is planning to establish a Bharat Lab on campus, aimed at exchanging knowledge with industry experts and analyzing the purchasing behavior of consumers in smaller cities. According to Durgesh Srivastava, the LU spokesperson, Bharat Lab is a partnership between advertising agency Rediffusion and LU. It will serve as India’s first consumer insights think tank and will concentrate on delivering valuable knowledge on cultural and consumer behavior of people in India.
The initiative, aimed at exchanging knowledge and expertise with the industry, would provide students and faculty with a platform to work with commerce and industry experts. The project would give participants the opportunity to analyze market trends and formulate business approaches that align with consumer behavioral patterns in smaller towns and cities.
According to industry experts, the Bharat Lab initiative will help businesses shape their strategies to reach deeper into rural and smaller urban markets. This will provide the market with the right products and solutions, ensuring a win-win solution for everyone.
Bharat Lab’s establishment on the LU campus will also open a plethora of opportunities, including data analytics and research on consumer behavior. The establishment will also support research on consumer mindset and behavior among individuals in rural India.
The Bharat Lab project is a comprehensive initiative aimed at helping businesses gain insight into consumer behavior in rural and urban areas, paving the way for better market penetration. The think tank will help the industry understand cultural patterns and the mindset of consumers, and will play an instrumental role in students’ and faculty’s professional development by giving them access to the latest research.
Bharat Lab’s launch is sure to boost relationship-building between academia, the industry, and society, creating a win-win solution for everyone. Its expertise will ensure better business decision-making, shaping products, and services to better serve consumers in smaller cities and rural India.
