The industrial market refers to the market that mainly produces and sells industrial products. It is very different from the consumer goods market. For example, the demand of the industrial market is derivative and is affected by the macroeconomic and industry cycles; the purchase process of the industrial market It is complex and involves multiple decision makers and influencers; the competitive environment of the industrial market is dynamic and is affected by technological innovation and policy changes. Therefore, for consulting firms, to provide effective consulting services to industrial customers, it is necessary to conduct professional industrial market research to understand and analyze the needs, behavior, satisfaction, loyalty and other aspects of industrial customers, so as to help customers develop appropriate market strategies.

The general process for consulting firms to conduct industrial market research is as follows:

Identify research objectives: The consulting firm needs to communicate with the client to identify the problems or opportunities the client is facing and the results the client expects to get. For example, customers may want to understand their share of the target market, competitive advantage, potential demand, etc.

Design the research plan: The consulting company needs to select the appropriate research method, data source, sample size, questionnaire, etc. according to the research objectives. For example, consulting firms can use quantitative or qualitative or mixed methods to collect information from primary or secondary or a combination of both, sample or comprehensive surveys of existing or potential or lost customers in the target market, etc.

Collecting and analyzing data: The consulting firm needs to collect data through telephone, email, web, interviews, etc. in accordance with the research program, and analyze the data using statistical analysis, cluster analysis, factor analysis, regression analysis, etc. For example, a consulting firm can derive the level and trend of customer demand, satisfaction, loyalty and other indicators by performing descriptive analysis, correlation analysis, and difference analysis on the data.

Writing and presenting reports: Consultants need to write clear, complete and persuasive reports based on the results of data analysis, and present them through charts, graphs, etc. The report should include the research background, objectives, methods, results, conclusions and recommendations. For example, a consulting firm can validate a problem or hypothesis raised by a client and provide a solution or recommendation through comparative analysis, hypothesis testing, and so on.

In order to more specifically illustrate how consulting firms use industrial market research methods to provide valuable insights and recommendations to their clients, this article will be analyzed in conjunction with an industrial market research case study provided by Champ Consulting for an auto parts manufacturer. The auto parts manufacturer is a company specializing in the production of core components such as automobile engines, gearboxes, and chassis. Its main customers are domestic and foreign automobile manufacturers. The company hopes to understand its competitive position in the domestic market, customer satisfaction, loyalty, etc. through the industrial market research of the consulting company, and to seek strategies to increase market share and profitability.

The industrial market research services provided by Champu Consulting to the auto parts manufacturer include the following steps:

Identify research objectives: Champu Consulting has conducted in-depth communication with the auto parts manufacturer to understand the main problems and opportunities it faces in the domestic market, as well as its expected results. After analysis, Champu Consulting identified the research objectives as follows:

Evaluate the market share, competitive advantage and potential demand of the auto parts manufacturer in the domestic market;

Analysis of the auto parts manufacturer's existing customer satisfaction, loyalty, conversion rate, etc;

Identify the needs, preferences, decision-making factors, etc. of the potential customers of the auto parts manufacturer;

Put forward the auto parts manufacturer to improve market share and profitability of strategic recommendations.

Design research plan: According to the research objectives, Shangpu Consulting Company chose a mixed method, that is, combining quantitative and qualitative methods to collect information from first-hand and second-hand data. Specifically, Champ & Co. used the following data sources and research methods:

First-hand data source: Champu Consulting conducted questionnaires and semi-structured interviews with existing and potential customers of the auto parts manufacturer by telephone or online, and collected 300 valid questionnaires and 50 valid interviews. The content of the questionnaire and interview includes the customer's evaluation of the auto parts manufacturer's product quality, price, service, innovation ability, etc., as well as the customer's perception and choice of other competitors.

Second-hand data sources: Shangpu Consulting has collected relevant data and information on the domestic auto parts market through Internet search, industry reports, government statistics and other channels, including market size, growth rate, structure, trends, etc.

Data collection and analysis: According to the research plan, Champ Consulting completed the data collection by telephone or network, and analyzed the data using SPSS and other software. Specifically, Champu Consulting uses the following data analysis methods:

Descriptive analysis: Shangpu Consulting conducted a descriptive analysis of the questionnaire data and calculated the average, standard deviation, maximum and minimum values of the auto parts manufacturer's market share, customer satisfaction, loyalty and other indicators in the domestic market. Champu Consulting also conducted a content analysis of the interview data and extracted the main customer evaluations and recommendations for the auto parts manufacturer.

-Correlation analysis: Shangpu Consulting conducted a correlation analysis of the questionnaire data to test the degree and direction of the auto parts manufacturer's product quality, price, service, innovation ability and other factors related to customer satisfaction, loyalty and other indicators.

-Difference analysis: Shangpu Consulting conducted a difference analysis on the questionnaire data, and compared the satisfaction, loyalty and other indicators of different types of customers (such as scale, region, industry, etc.) of the auto parts manufacturer. Differences, as well as the differences between the auto parts manufacturer and its main competitors in these indicators.

-Regression analysis: Champ Consulting conducted a regression analysis of the questionnaire data, established a regression model of customer satisfaction and loyalty, and analyzed the main variables and coefficients affecting these two indicators, as well as the interaction effects between these variables.

Writing and presenting the report: Based on the results of the data analysis, Shangpu Consulting wrote a detailed industrial market research report and presented the report to the auto parts manufacturer through PPT and other methods. The main contents of the report include the following aspects:

Background: This paper introduces the basic situation of the auto parts manufacturer, the problems and opportunities it faces in the domestic market, and the expected results.

Research objectives: The main objectives of this industrial market research are outlined, that is, to evaluate the competitive position, customer satisfaction, loyalty, etc. of the auto parts manufacturer in the domestic market, and to propose strategic recommendations to increase market share and profitability.

Methodology: The hybrid approach used in this industrial market study is illustrated, which combines quantitative and qualitative methods to collect information from primary and secondary data. And introduces the specific data sources, sample size, questionnaire, interview guide and so on.

Research results: The main results of this industrial market research are shown, including the market share, competitive advantage and potential demand of the auto parts manufacturer in the domestic market; the satisfaction, loyalty and conversion rate of the existing customers of the auto parts manufacturer; the demand, preference and decision-making factors of the potential customers of the auto parts manufacturer. And through charts, graphics and other ways of intuitive and clear presentation.

Conclusion: The main findings of this industrial market research are summarized, that is, the auto parts manufacturer has certain competitive advantages in the domestic market, but there are also some problems and challenges; the existing customers of the auto parts manufacturer are satisfied with its product quality and innovation ability, but are dissatisfied with its price and service; the potential customers of the auto parts manufacturer have certain knowledge and interest in its products, but there are some concerns and obstacles.

Research recommendations: The main recommendations of this industrial market study are put forward, that is, the auto parts manufacturer should adopt the following strategies to increase market share and profitability:

Improve product quality and innovation to meet the changing needs and expectations of customers;

Reduce product prices or provide more price concessions and discounts to increase customer purchase intention and frequency;

Improve service level and efficiency to improve customer satisfaction and loyalty;

Strengthen brand publicity and promotion to improve customer awareness and preference;

Expand into new markets and customers to increase market coverage and penetration.

Through this industrial market research, Shangpu consulting company provides valuable insights and suggestions for the auto parts manufacturer, helping it to better understand and analyze its competitive position in the domestic market, customer demand, behavior, satisfaction, loyalty and other aspects, so as to formulate more effective market strategies. The auto parts manufacturer expressed high recognition and satisfaction with the industrial market research services of Shangpu Consulting, and expressed its willingness to continue cooperation with Shangpu Consulting.