Basic Concepts of 1. Industrial Market Research

The basic concepts of industrial market research include the following aspects:

Definition of (I) Industrial Market

The industrial market refers to the market for products and services provided for the production of other products and services, such as raw materials, equipment, parts and components, energy, logistics, technology, etc. The main difference between the industrial market and the consumer goods market is that the end use of the products and services of the industrial market is not personal consumption, but the production of other products and services. Therefore, the characteristics of the industrial market are very different from those of the consumer goods market, such as smaller market size, more complex market structure, more stable market demand, more intense market competition, more sensitive market prices, more professional market transactions and so on.

Purpose of (II) Industrial Market Research

The purpose of industrial market research is to provide support and guidance for strategic decision-making, product innovation, market expansion and competitive advantage of industrial enterprises. Industrial market research helps industrial enterprises to understand the current situation and trend of the market, the needs and behaviors of customers, the advantages and disadvantages of competitors, their own advantages and disadvantages, etc. by collecting, analyzing, explaining and predicting the relevant information of the industrial market, so as to provide basis and suggestions for industrial enterprises to formulate reasonable strategic objectives, product strategies, market strategies and competition strategies.

Object of (III) Industrial Market Research

The object of industrial market research is the various elements of the industrial market, including the following aspects:

Market demand: The sum of the willingness and ability to buy a product or service in an industrial market, reflecting the size and potential of the market.

Market segmentation: refers to the process of dividing the market into a number of relatively balanced sub-markets according to certain characteristics of customers or products in the industrial market, reflecting the structure and differences of the market.

Market positioning: refers to the process of selecting one or more target markets according to the segmentation results of the industrial market, and determining the image and advantages of products or services that distinguish them from competitors in the target market, reflecting the direction and advantages of the market.

Marketing mix: refers to the combination of product, price, channel, promotion and other marketing strategies for the target market according to the positioning results of the industrial market, reflecting the strategy and effect of the market.

(IV) the process of industrial market research

The process of industrial market research is a systematic, dynamic, iterative and interactive process, involving multiple links and multi-party participation. The process of industrial market research generally includes the following steps:

Determining the purpose of research: it refers to clarifying the theme, scope, objectives and duration of industrial market research, so as to provide direction and basis for industrial market research.

Design research program: refers to the development of industrial market research methods, data sources, data collection methods, data analysis methods, data presentation methods, etc., to provide plans and frameworks for industrial market research.

Collection of research data: refers to obtaining relevant information about the industrial market from various channels and channels according to the plan of industrial market research, so as to provide materials and basis for industrial market research.

Analysis of research data: Refers to the use of various tools and techniques to organize, summarize, compare, evaluate, interpret and forecast relevant information on the industrial market according to the industrial market research program, and provide results and basis for industrial market research.

Preparation of research report: refers to writing the contents, conclusions and suggestions of industrial market research according to the scheme and data of industrial market research and in accordance with certain formats and specifications, so as to provide documents and basis for industrial market research.

Providing research suggestions: according to the report of industrial market research, it puts forward feasible and practical opinions and suggestions for the strategic decision-making, product innovation, market expansion and competitive advantage of industrial enterprises, so as to provide value and basis for industrial market research.

Providing research suggestions: according to the report of industrial market research, it puts forward feasible and practical opinions and suggestions for the strategic decision-making, product innovation, market expansion and competitive advantage of industrial enterprises, so as to provide value and basis for industrial market research.

The main methods of 3. industrial market research.

The method of industrial market research refers to the techniques and means used by industrial market researchers to collect, analyze, interpret and predict relevant information about the industrial market, including the following:

(I) literature analysis method

Literature analysis refers to the method of obtaining basic information, theoretical knowledge, historical experience and development trends of the industrial market by consulting and analyzing books, periodicals, reports, papers, patents, standards and other literature related to the industrial market. The advantages of literature analysis are a wide range of data sources, low cost, and high reliability, but the disadvantage is that the data may be incomplete, untimely, and inconsistent, requiring screening and verification by industrial market researchers.

(II) investigation and research method

The survey and research method refers to the method of collecting relevant information about the industrial market directly from the relevant subjects of the industrial market (such as customers, competitors, suppliers, intermediaries, etc.) by designing and implementing questionnaires, interviews, observations, etc.

The advantage of the survey and research method is that the data source is direct, timely and specific, which can reflect the actual situation of the industrial market and the real needs of customers, but the disadvantage is that the data may be affected by the subjectivity, randomness and misleading of the subject, which needs to be cleaned and processed by industrial market researchers.

(III) experimental research method

The experimental research method refers to the method of observing and measuring the relationship and influence between the relevant factors and indicators of the industrial market by designing and implementing certain experimental conditions and control variables. The advantage of the experimental research method is that the data source is objective, accurate and controllable, and can reveal the inherent laws and causality of the industrial market, but the disadvantage is that the data may be affected by experimental conditions, experimental methods, experimental errors, etc., which need to be calibrated and analyzed by industrial market researchers.

(IV) mathematical statistics method

Mathematical statistics refers to the method of sorting, describing, inferring and predicting the relevant data of the industrial market by using the principles and methods of mathematics and statistics.

The advantage of mathematical statistics is that the data source is scientific, systematic and standardized, which can quantify and summarize the relevant information of the industrial market, but the disadvantage is that the data may be affected by data quality, data model, data hypothesis, etc., which needs to be tested and evaluated by industrial market researchers.

Typical cases of 4. industrial market research

Typical cases of industrial market research refer to representative and enlightening examples of success or failure in the practice of industrial market research, which can help readers understand and learn the methods and techniques of industrial market research and improve the level and ability of industrial market research. Here are a few typical examples of industrial market research:

(I) Industrial Robot Market Research

Industrial robots are mechanical devices that can automatically perform various tasks in industrial production, and are an important part of industrial automation and intelligence. The industrial robot market is a high-speed development, highly competitive and highly innovative market, which puts forward higher requirements for industrial market research.

A consulting company provides industrial robot market research services for an industrial robot enterprise, mainly including the following aspects:

Market demand analysis: Through investigation and research method, the demand characteristics, demand scale, demand forecast and other information of potential customers of industrial robots (such as manufacturing enterprises in automobile, electronics, machinery and other industries) are collected, and the demand structure and demand trend of industrial robot market are analyzed, which provides the basis for industrial robot enterprises to formulate product strategy and market strategy.

Market segmentation analysis: Through literature analysis and mathematical statistics, various types, functions, performance, prices and other information of industrial robots are collected, and the characteristics and differences of the market segments of the industrial robot market are analyzed, which provides a basis for industrial robot enterprises to determine the target market and market positioning.

Market competition analysis: Through investigation and research and mathematical statistics, the product characteristics, market share, market strategy, competitive advantage and other information of the main competitors of industrial robots (such as ABB, FANUC, KUKA and other internationally renowned enterprises) are collected, and the competition pattern and trend of industrial robot market are analyzed, which provides a basis for industrial robot enterprises to formulate competition strategies and countermeasures.

Market opportunity analysis: Through the literature analysis method and experimental research method, the new technology, new material, new process, new model and other information of industrial robot are collected, the innovation opportunity and development direction of industrial robot market are analyzed, and the basis is provided for industrial robot enterprises to carry out product innovation and market expansion.

Through industrial market research services, industrial robot companies have a deeper understanding and grasp of the industrial robot market, formulated more reasonable strategic decisions, increased market share and profit margins, and enhanced competitive advantage and development potential.

Research on (II) Industrial Lubricant Market

Industrial lubricants refer to oil products used for lubrication, cooling, rust prevention, cleaning and other functions of various mechanical equipment in industrial production, and are important auxiliary materials for industrial production. The industrial lubricant market is a mature, stable and segmented market, which puts forward higher requirements for industrial market research.

A consulting company provides industrial lubricating oil market research services for an industrial lubricating oil enterprise, mainly including the following aspects:

Market demand analysis: Through investigation and research method, the demand characteristics, demand scale and demand change of existing customers of industrial lubricants (such as steel, mining, cement and other industries) are collected, and the demand structure and demand trend of industrial lubricants market are analyzed, which provides the basis for industrial lubricants enterprises to formulate product strategy and market strategy.

Market segmentation analysis: Through literature analysis and mathematical statistics, various types, performance, uses, prices and other information of industrial lubricants are collected, and the characteristics and differences of the market segments of industrial lubricants are analyzed, which provides a basis for industrial lubricants enterprises to determine the target market and market positioning.

Market competition analysis: Through investigation and research and mathematical statistics, the product characteristics, market share, market strategy, competitive advantage and other information of the main competitors of industrial lubricants (such as Shell, Castrol, Mobil and other internationally renowned enterprises) are collected, and the competition pattern and trend of industrial lubricants market are analyzed, which provides a basis for industrial lubricants enterprises to formulate competition strategies and countermeasures.

Market opportunity analysis: Through the literature analysis method and experimental research method, the new technology, new standard, new demand, new application and other information of industrial lubricants are collected, the innovation opportunity and development direction of industrial lubricants market are analyzed, and the basis is provided for product innovation and market expansion of industrial lubricants enterprises.

Through industrial market research services, industrial lubricant companies have a deeper understanding and grasp of the industrial lubricant market, formulated more reasonable strategic decisions, increased market share and profit margins, and enhanced competitive advantage and development potential.

Frequently Asked Questions 5. Industrial Market Research

Industrial market research is a professional, complex and valuable service, but in practice, there are some common problems, as follows:

(I) data quality is low. Data is the foundation and basis of industrial market research, and the quality of data directly affects the results and effects of industrial market research. However, due to the particularity and complexity of the industrial market, the data of the industrial market are often difficult to obtain, incomplete, inaccurate, inconsistent and untimely, which leads to the low quality of the data of the industrial market research and affects the quality and effect of the industrial market research.

Wrong choice of (II) method. Methods are the tools and means of industrial market research, and the choice of methods directly affects the process and results of industrial market research. However, due to the many methods of industrial market research, each has its own advantages and disadvantages, and each has its own scope of application, it is often difficult for industrial market researchers to choose the appropriate method, or blindly use a certain method, resulting in the wrong choice of industrial market research methods, affecting the quality and effectiveness of industrial market research.

(III) analysis depth is shallow. Analysis is the core and key of industrial market research, and the depth of analysis directly affects the value and significance of industrial market research. However, due to the complexity and uncertainty of the industrial market, it is often difficult for industrial market researchers to analyze the relevant information of the industrial market in depth, or to be satisfied with superficial, one-sided and general analysis, which leads to the shallow depth of analysis of industrial market research and affects the value and significance of industrial market research.

(IV) recommendations are poorly feasible. Suggestions are the purpose and result of industrial market research, and the feasibility of suggestions directly affects the practicality and effect of industrial market research. However, due to the dynamics and variability of the industrial market, it is often difficult for industrial market researchers to provide suggestions that meet the actual situation of the industrial market and the real needs of customers, or provide some vague, unrealistic, and non-operational suggestions., Resulting in poor feasibility of industrial market research recommendations, affecting the practicality and effectiveness of industrial market research.

6. epilogue

Industrial market research is a professional, complex and valuable service, which plays an important role in guiding and supporting the strategic decision-making, product innovation, market expansion and competitive advantage of industrial enterprises. This paper introduces the basic concepts, main methods, typical cases and common problems of industrial market research, hoping to help readers from entry to proficient in the theory and practice of industrial market research, and improve the level and ability of industrial market research.