Needs Analysis of 1. Industrial Market Research

Demand analysis is the process of systematically identifying, measuring and evaluating the existing or potential demand in the market. The purpose of demand analysis is to determine the size, growth rate, structure and potential of the market, as well as the various factors that affect demand, so as to provide a basis for the formulation of market strategy. The main methods of demand analysis are as follows:

Historical analysis: by analyzing past sales data, market share, price changes, etc., to infer market demand trends and patterns of change.

Survey method: Through the design of questionnaires, interviews, observations, etc., directly to potential or existing customers to collect information about their needs, preferences, satisfaction and other information.

Experimental method: to test the impact of different products or services on demand by simulating different market conditions in the laboratory or in the field and observing the reaction of customers.

Statistical method: through the use of mathematical models, statistical techniques, econometrics and other methods, the collected data analysis, to predict or estimate the market demand.

The steps of requirements analysis generally include the following:

Determine the objectives and scope of the requirements analysis: identify the subject, object, time, region, etc. of the requirements analysis, as well as the specific purpose and significance of the requirements analysis.

Select methods and techniques for requirements analysis: Select the appropriate methods and techniques for requirements analysis based on the objectives and scope of the requirements analysis, as well as the available data and resources.

Collecting and processing demand-related data: Collecting qualitative and quantitative data on market demand through various channels and methods, and cleaning, sorting, sorting, and coding to make it suitable for analysis.

Analysis and interpretation of the results of the demand: the use of needs analysis methods and techniques, the processed data analysis, the demand scale, structure, characteristics, trends, influencing factors and other results, and reasonable interpretation and evaluation.

Write and report the report of requirements analysis: report the process and results of requirements analysis, as well as suggestions for market strategy, in written or oral form, in appropriate format and language, to relevant decision makers or stakeholders.

Market Segmentation 2. Industrial Market Research

Market segmentation refers to the process of dividing a large market into several relatively uniform sub-markets or customer groups according to different criteria or dimensions. The purpose of market segmentation is to identify and distinguish different customer needs and behaviors in order to provide differentiated products or services for different market segments, thereby improving market efficiency and competitive advantage. The main methods of market segmentation are as follows:

Geographic segmentation method: According to the geographical location of customers, such as countries, regions, cities, climate, etc., the market is divided into different market segments.

Demographic segmentation method: according to the demographic characteristics of customers, such as age, gender, education, income, occupation, etc., the market is divided into different market segments.

Psychological segmentation method: according to the psychological characteristics of customers, such as personality, lifestyle, values, attitudes, etc., the market is divided into different market segments.

Behavioral segmentation method: according to the customer's behavior characteristics, such as purchase motivation, purchase frequency, purchase volume, brand loyalty, use occasion, etc., the market is divided into different market segments.

The steps of market segmentation generally include the following:

Determine the goal and scope of market segmentation: clarify the theme, object, time, region, etc. of market segmentation, as well as the specific purpose and significance of market segmentation.

Select market segmentation methods and criteria: According to the objectives and scope of market segmentation, as well as available data and resources, select the appropriate market segmentation methods and criteria.

Collecting and processing data related to market segmentation: Collecting qualitative and quantitative data on market segmentation through various channels and methods, and cleaning, sorting, sorting, and coding to make it suitable for analysis.

Analyze and explain the results of market segmentation: use the methods and standards of market segmentation, analyze the processed data, obtain the results of market segmentation, the scale, structure, characteristics and demand of market segments, and make reasonable explanations and evaluations.

Select and evaluate the target market: according to the results of market segmentation, as well as the resources, capabilities and objectives of the enterprise, select one or more potential and attractive market segments as the target market, and evaluate the attractiveness, competitiveness and feasibility of the market.

Write and report market segmentation reports: report the process and results of market segmentation, as well as the selection and evaluation of target markets, and recommendations for market strategies, in written or oral form, in appropriate format and language, to relevant decision makers or stakeholders.

Case Analysis of 3. Shangpu Consulting Company

Shangpu Consulting Company is a consulting company specializing in industrial market research. It provides customized market research services for industrial enterprises in various industries to help them understand and meet customer needs and improve market competitiveness and profitability. The following are some of the industrial market research needs analysis and market segmentation case studies provided by Champu Consulting for its clients:

Case 1: A company that produces and sells industrial robots wants to enter the Chinese market, but does not know the scale, structure and characteristics of the demand in the Chinese market, as well as the situation of competitors. Champ Consulting provided the following needs analysis and market segmentation services for the company:

Demand analysis: Through the survey method and statistical method, Shangpu Consulting collected the demand data of industrial robots in the Chinese market, including demand, demand growth rate, demand distribution, demand influencing factors, etc., and carried out analysis and forecast. Shangpu Consulting found that the demand for industrial robots in the Chinese market is growing, mainly affected by the following factors: the improvement of the level of industrialization, the rise of labor costs, product quality requirements, government policy support and so on. Shangpu Consulting predicts that the demand for industrial robots in the Chinese market will maintain rapid growth in the next few years and reach the world's leading level.

Market segmentation: According to the customer's industry, scale, use, function and other standards, Shangpu Consulting divides the demand for industrial robots in the Chinese market into four market segments: automobile manufacturing, electronic manufacturing, metal processing, and other manufacturing. Shangpu Consulting analyzes the demand, demand characteristics, demand trends, competition, etc. of each market segment, and evaluates the attractiveness, competitiveness and feasibility of the market for each market segment. Shangpu Consulting recommends that the company give priority to the two market segments of automobile manufacturing and electronics manufacturing, because these two market segments have the largest demand, the highest demand growth rate, and the demand characteristics match the company's product characteristics. There are relatively few competitors, and the market is more attractive, competitive and feasible.

Case 2: A company that produces and sells industrial lubricants wants to increase its share of the existing market, but does not know the needs, preferences, satisfaction, etc. of its existing customers, and how to improve customer loyalty and recommend. Champ Consulting provided the following needs analysis and market segmentation services for the company:

Needs Analysis: Through survey and experimental methods, Shangpu Consulting collected data on the needs, preferences, and satisfaction of the company's existing customers, including customers' evaluations and expectations on the performance, quality, price, and service of industrial lubricants, and analyzed and explained them. Shangpu Consulting found that the needs and preferences of the company's existing customers are mainly affected by the following factors: the industry the customer belongs to, the equipment used by the customer, the customer's purchase motivation, the customer's purchase frequency, etc. Shangpu Consulting also found that the company's existing customers have higher satisfaction, but lower loyalty and recommend, mainly due to the company's lack of product differentiation, lack of personalized services, and lack of interactivity in communication.

Market segmentation: according to the customer's industry, equipment, purchase motivation, purchase frequency and other standards, the company's existing customers are divided into four market segments: high-end customers, mid-range customers, low-end customers, potential customers. Shangpu Consulting analyzes the demand, demand characteristics, demand trends, competition, etc. of each market segment, and formulates corresponding product, price, promotion, service and other strategies for each market segment. Shangpu Consulting recommends that the company provide different industrial lubricant products for different market segments to meet different performance, quality, price and other needs; provide different services to meet different pre-sales, in-sales, and after-sales And other needs; provide different communication methods to meet different information, consultation, feedback and other needs. Shangpu Consulting believes that this can improve the differentiation of the company's products, the personalization of services, and the interactivity of communication, thereby increasing customer loyalty and recommend.