Industrial market research refers to the systematic, purposeful and planned information collection and analysis activities on the market of industrial products or services. It aims to provide enterprises with reliable and effective information on the market environment, customer needs, competitors, industry development, etc., and help enterprises to formulate or adjust their market strategies and marketing programs. Compared with consumer market research, industrial market research has some characteristics, such:

The scale of the industrial market is relatively small, but the transaction amount is large, the customer relationship is stable, and the procurement process is complicated.

Industrial products or services are highly technical, and demand is affected by many factors, such as policies and regulations, industry standards, technological innovation, etc.

The competitive landscape of the industrial market is more fixed, the exchange of information between competitors is less, and the competitive strategy is more hidden.

Therefore, industrial market research needs to be more specialized, in-depth, and detailed. It is not only necessary to collect and organize a large amount of data, but also to conduct in-depth analysis and interpretation of the data, discover the hidden laws and opportunities behind the data, and propose Targeted and operable suggestions and solutions.

The main contents of industrial market research include:

Market demand analysis: through the investigation and analysis of the overall size of the target market, structure, growth rate, regional distribution, etc., to understand the market potential and development trends; through the investigation and analysis of the number of target customer groups, characteristics, demand motivation, purchase behavior, etc., to understand customer needs and preferences.

Competitor analysis: by collecting and analyzing the basic situation of competitors, product or service characteristics, price strategy, channel strategy, promotion strategy, etc., to understand the strengths and weaknesses of competitors, to assess the strength and threats of competitors.

Industry environment analysis: by collecting and analyzing information on policies and regulations, industry standards, technological innovation, social economy, etc., to understand the impact of the industry environment on market demand and competitive landscape.

Market opportunity analysis: through comprehensive analysis of market demand, competitors and industry environment, we can find opportunities and challenges in the market and provide a basis for enterprises to formulate or adjust their market strategies and marketing programs.

The main methods of industrial market research include:

Literature analysis: access to basic information and theoretical knowledge of the market and industry by consulting and analyzing relevant books, periodicals, reports, papers and other literature.

Statistical analysis: by collecting and analyzing relevant statistical data, such as data released by the National Bureau of Statistics, industry associations, professional institutions, etc., to obtain quantitative information and trends of the market and industry.

Survey analysis: Through the design and implementation of questionnaires, interview surveys, observation surveys, etc., directly to the target customers or competitors to collect first-hand information, access to market and industry qualitative information and details.

Case analysis: by collecting and analyzing successful or failed market research cases, lessons learned, refining methods and skills, to provide reference for their own market research.

The main processes of industrial market research include:

Determine the research objectives: clarify the theme, scope, content, time, etc. of the research, and provide direction for the research.

Design research plan: select the appropriate research methods, data sources, sample design, questionnaire design, etc., to provide norms for the study.

Implementation of data collection: in accordance with the research program, the use of literature analysis, statistical analysis, survey analysis and other ways to collect relevant data, to provide a basis for the study.

Data analysis: using descriptive statistics, inferential statistics, correlation analysis, regression analysis and other techniques, the collected data processing, sorting, induction, generalization, etc., to provide results for the study.

Writing research reports: Based on the results of data analysis, combined with research objectives and protocols, write clear, complete and logical research reports to provide research output.

The quality and effectiveness of industrial market research depends on a number of factors, such:

The clarity and feasibility of the research objectives: the research objectives should be clear, measurable, achievable and so on, so as to avoid ambiguity or too ambitious.

Reasonableness and scientificity of the research plan: The research plan should select appropriate methods and technologies according to the research objectives and actual conditions to ensure the validity and reliability of the data.

Adequacy and accuracy of data collection: Data collection should cover as many target markets and customer groups as possible to avoid omissions or bias; at the same time, the authenticity and accuracy of data should be ensured to avoid misleading or distortion.

Depth and breadth of data analysis: Data analysis should explore and interpret data from different angles and levels to discover the patterns and opportunities behind the data; at the same time, it should consider the limitations and uncertainties of the data and avoid over-inference or simple attribution.

Clarity and completeness of the research report: The research report should clearly express the purpose, methods, results, conclusions and recommendations of the research according to a certain structure and format, avoiding ambiguity or redundancy.

The research report should contain sufficient detail and evidence to support the analysis and judgment of the study and avoid being vague or subjective.

The research report should highlight the innovation and value of the research, show the significance and contribution of the research to the enterprise, and avoid mediocrity or uselessness.

Shangpu Consulting Company is a consulting organization specializing in industrial market research. With many years of industry experience and professional team, it provides high-quality and high-effect market research services for many industrial enterprises. Here are some of the success stories of Champ Consulting:

Provided an internationally renowned industrial robot manufacturer with Chinese market demand analysis and competitor analysis, helped it formulate differentiated and localized market strategies and marketing plans for the Chinese market, and increased its market share and competitiveness in the Chinese market.

It provided industry environment analysis and market opportunity analysis for a leading domestic industrial lubricant manufacturer, helped it find opportunities for technological innovation and policy support in the industry, and provided guidance and suggestions for its product development and market expansion.

It provides customer demand analysis and market potential analysis for a new industrial Internet platform, helps it understand the demand motivation, purchase behavior and use experience of the target customer group, and provides the basis and feedback for its product design and service optimization.