Market research is the process of gathering, interpreting, and analyzing information. The information is basically about the market, a product or service to be offered in that market, and the past, existing, and potential customers for the product or service—the research of customer behavior, customer demands, and their loyalty to the brand or company.
Doing market research helps businesses be well-informed about customer action patterns. Market research will provide accurate and thorough information, which is the foundation of companies, and it will also provide information about the industry in general.
The data collected through market research helps to overcome the marketing challenges that a business likely faces. With the primary and secondary information, much data can be developed. While specific details can be gathered with primary resources, secondary resources will provide generic information available to the public through public magazines, newsletters, etc.
Identifying, Testing, and ensuring are the critical steps of market research. Then comes the Improvement of business which depends upon the result of market research.
LEGAL INDUSTRY-SHAPING DEMAND IN INDIA
India is currently a developing country, and unlike developed countries, the Indian economy faces challenges. Presently, India’s legal industry is the world’s 2nd largest legal professionals market which engages more than 600,000 lawyers. The Indian legal services sector stands to reach a potential of more than U.S. $1.3 Billion.
It can be one of the reasons that currently there has been a demand. COVID-19 is still proving to be a nightmare for many people across the globe.
Average exports in the U.S. declined by $7.0 billion from March 2020 until March 2021, whereas imports increased by $20.7 billion during the same year. The exports in India have seen an increase of 16.03 % compared to 2019.
It is perhaps a clear sign that the market is trying its best to recover and bounce back. Thereby, this can directly impact industries like Healthcare/ICT/chemicals, which is ultimately creating a massive demand for the Legal Services Market.
CURRENT DEMANDS IN THE LEGAL PROFESSION
The most recent drift in the legal profession is the development of several corporate law firms and legal Profession Outsourcing Companies (LPOs). “
The demand of corporate law firms for law graduates, and the exceedingly high supply of law graduates, has significantly altered the landscape of legal education.”- Justice Dhananjaya Y. Chandrachud.
The legal profession is creating new practice areas, and the legal industry marketplace is adapting in nature. The current demand in the legal industry is legal tech start-ups. Despite the trend of law firms, people are turning towards solutions supported by technology.
At the same time, Covid-19 has brought such deviations in the legal industry. Today, many people have started relying on online legal services, as it is easily accessible.
Thereby, people avidly welcome the technological culture related to legal concepts; one such culture is legal videos.
Hence, it is imperative to discuss the five best ways of inserting knowledge through legal videos.
5 BEST WAYS OF INSERTING KNOWLEDGE THROUGH LEGAL VIDEOS
Discussions are done in a variety of practices. It may include law webinars(if online), seminars, conferences, and group discussions to disseminate legal knowledge. Discussions are interactive so that they allow one-to-one or one-to-many interactions.
There can be question-answering rounds where the audience will enhance their legal knowledge upon a specific aspect of the theme matter. Discussions are usually theme-based, focusing on a particular or different part of the legal landscape.
Depending upon the capacity of the technical sessions, the theme for the conferences or seminars can be narrowed down or expanded. The goal of all types of discussions is to get the audience to think about the matter. There is also the mechanism of immediate feedback sometimes at the end of the discussions.
Online debates are not only a way to learn oneself but also to make people learn. When two or more people in discussions are presenting from the odds and evens of the topics, it will help to learn about a subject with two different opinions in the same aspects.
There is an attempt to make the audience identify their stand against or for the legal topic. A well-reasoned debate allows for exploring the alternatives of the views.
Well-qualified justifications enhance the legal knowledge to make it a more comprehensive argument. You can watch online debates where you will try to think about the matter by applying the pros and cons as a criterion. Any legal issue can be explored from both sides and then determine the best one if any.
Workshops can be organizational or academic. The sole purpose is, anyway, to share the knowledge. Usually, the workshops are conducted to train the workforce at the workplace. Workshops enable peers or students in knowledge acquisition in a particular topic.
When it is academic, it gives students or learners the space to meet with the professionals in that field. It is a process, which continuously gathers legal knowledge.
When it is at the workplace, the peers get a chance to enhance their understanding of the field by performing participative activities.
Regular Interviews are tools for the knowledge-sharing process. These interviews strengthen the basics of the topic, and having the opinions of experts on the subject will help in thinking about the issue from a point of view, which could not have been considered.
It is important to listen to or attend the interviews as it helps enhance legal knowledge by understanding the developments in the particular topic. Some interviews are conducted on a recent trend or the latest legal updates from the world that help follow the critical concentrations of the matter relevant to the time being.
Interviews can be accessed on the internet as they are uploaded in legal videos on various platforms.
5. Online training event:
Various legal knowledge-sharing companies at the organizational or public level. They host a live event focused on giving the audience a chance to learn about a research topic.
The organizers plan the event with the preparation materials, and at the end, some bullets are noted down to summarize the event.
This online event can be real-time, recorded, or presented legal video, later uploaded on social media for the legal community. It usually leaves a lasting impact on the company and its employees.
Innovative legal knowledge-sharing events with the help of creative infographics and facts, when posted on social media, will give you feedback and support.
The approach for inserting the knowledge in legal videos depends on the nature of the content or topic. The best way for it could be anyone making your market reach considerable.
A positive factor with the videos is that they can be watched many times as recorded, enabling learning in a non-stop and comprehensive manner.