Beware Fake Market 'Research'
The 'data' and 'research' that headlines many articles and studies clogging internet is a scam, perpetrated by a variety of Indian firms that have exploited the ignorance of many companies and the press and demonstrated a real skill to mislead potential clients. These firms scan the web to find market research from legitimate companies describing research ideas that they steal infringing copyrights without any scruples. Yet, having no knowledge to treat these subjects, they just quickly compile some data that have no sense reproducing clueless reports. One may wonder: Who are these companies - Markets and Markets, Grand View Research, Transparency market, Modor, etc. the list is very long and expands every day. Several companies just have the same owners. Those firm’s business model is to copy existing work done by old and established market research firms to resell counterfeits just filled-in with internet copied data. Their work is made by persons with practically no knowledge of the topics given the time allocated to them. These entities do not invest in legitimate research, they possess no real industry’s knowledge, they just exploit the original ideas and work done by legitimate companies. No insights, no knowledge beyond what they found Googling, making enormous misunderstanding, their information is false harming the buyers that purchase their reports.
All of these companies share a few common characteristics:
- Make optimistic groundless projections to sell reports for thousands of dollars each
- Have non-experts who repackage Google search results, moving from market to market
- Are primarily Indian all based in Pune and actively try to obscure that
- Publish reports with poor value and multiple erroneous data
- Copy each other and multiplicate the copies without any value
- Multiplicate the website with same owners to saturate the web and increase their page rank and asphyxiate the web.
Another fact: Wrong addresses
Moreover, these companies typically purport to be US or UK based to establish credibility like Grand View on their “about” page: However, go to the company's LinkedIn results, though, and 98% of employees report being from India. Technavio claims to be a US company but carefully works in the US under the name of Infiniti Research ltd.
More Scam Research
Stratistics MRC has the same problems. On LinkedIn and on their homepage, they list a Maryland US address:
But Google maps returns a residential apartment complex:
And there are hundreds of facts confirming their illicit actions and dozens of victims who suffered of their actions. Be aware of scam market research companies:
1. Markets and Markets
2. Transparency market
3. Grand View Research
4. Modor
5. Technavio
6. Future market Insight
7. Allied Market Insight
8. Credence Research
9. Coherent market Insight
10. Industry Arc
11. Zion market Research
12. Research Nester
13. Persistence market Research
14. Gm Insight
It's not only about stealing content, but this is also a mass phenomenon of producing fake market data and clogging established market channels. They are too numerous, new companies emerge on daily basis. This is a mass spam operation from infinite participants. This phenomenon has already changed the market research landscape, with large organizations focusing more on consulting services and smaller corporations closing the business. End users of market research lost trust in market research reports available online. Not only are they hurting legitimate market research companies with their bad copies, they're also damaging the entire industry and the services provided to customers. These companies are shameless and operate from India in full impunity. Example of buyers Opinions: “We bought one report it is not worth one dollar” (CEO of multinational company) It is not that it is not one-dollar worth, it costs… providing false data and wrong information” (GM of a mid-sized company) “I have also noticed the huge number of Market Insight reports available, and it is frankly overwhelming.”
And LinkedIn lists 82 employees for Stratistics MRC, all from India, none from the United State.
