1.Definition of Industrial Market Research

Industrial market research refers to the process of systematic collection, collation, analysis and interpretation of the demand, supply, competition and innovation of industrial products or services, so as to provide basis and guidance for the decision-making of industrial enterprises. Industrial market research differs from consumer market research in the following areas:

The size of the industrial market is relatively small, but the transaction amount is large;

The demand of the industrial market is influenced by the derived demand, which is related to the demand of the final consumer;

Buying behavior in industrial markets is more rational and professional, involving multiple decision makers and influencers;

Competition in the industrial market is more intense and complex, and multiple factors such as product quality, price, service, and technology need to be considered;

Innovation in industrial markets is more frequent and rapid, requiring constant adaptation to technological advances and changing customer needs.

Therefore, industrial market research requires a higher level of professionalism and analytical skills, as well as more flexible and innovative methods and means.

2.Methods of Industrial Market Research

The methods of industrial market research mainly include qualitative research and quantitative research. Qualitative research refers to the collection and analysis of non-numerical or difficult-to-quantify data in an unstructured or semi-structured manner to reveal the characteristics, motivations, attitudes, and feelings of the industrial market. Qualitative research methods are commonly used:

In-depth interviews: through one-to-one or a few people's dialogue, in-depth understanding of the interviewees' views and feelings on a certain topic or issue;

Focus groups: by organizing discussions between 6 and 12 people to explore the common or different opinions of the interviewees on a certain topic or issue;

Project method: by allowing the interviewee to complete a task or activity, observe and analyze the interviewee's behavior and reaction;

Scenario simulation: observe and analyze the respondents' choices and decisions by simulating real or imaginary situations;

Case analysis: The collection and analysis of information about a particular event or phenomenon to reveal its causes, processes, and results.

Quantitative research refers to the collection and analysis of numerical or quantifiable data in a structured or standardized manner to measure and assess the size, structure, and changes in industrial markets. The commonly used methods of quantitative research are:

Questionnaire: by designing and distributing a series of questions, collect the respondents' answers to a certain topic or question;

Experimental method: by controlling and changing one variable, observe and analyze its effect on another variable;

Sampling method: by taking a random or non-random sample from the population to infer the characteristics or parameters of the population;

Statistical analysis: describe, infer, correlate, predict, etc. the collected data through the use of mathematics and probability theory;

Model building: Simulate and simulate the current or future of the industrial market by applying logical and algorithmic methods.

3.Types of Industrial Market Research

According to the purpose and content of industrial market research, it can be divided into the following types:

Market demand research: aims to understand the potential demand, effective demand, ineffective demand, etc. of the industrial market, as well as the factors that affect changes in demand;

Market segmentation research: aims to divide the industrial market into several relatively balanced and relatively independent sub-markets according to different characteristics or standards, and to evaluate the attractiveness of each sub-market;

Market positioning research: to determine the position of industrial enterprises in the target market and distinguish them from competitors;

Market competition research: to analyze existing or potential competitors in the industrial market, as well as their products, prices, channels, promotions and other strategies;

Market satisfaction research: designed to assess the satisfaction of industrial customers with industrial enterprises and their products or services, as well as the factors affecting satisfaction;

Market innovation research: aims to explore new needs, new technologies, new products, new services, etc. that exist or may appear in the industrial market, as well as their feasibility and acceptability.

4.Demonstration of Industrial Market Research

In order to better illustrate the methods and types of industrial market research, this article will take Shangpu Consulting as an example to briefly introduce its industrial market research services for an auto parts manufacturer. Shangpu Consulting is a consulting organization focusing on the industrial field, providing professional services including strategic planning, marketing strategy, operations management, and organizational change.

The auto parts manufacturer, which mainly produces car seat systems, is facing pressure from domestic and foreign competitors, and also sees opportunities brought by the digital transformation of the automotive industry. The company hopes to provide industrial market research services through Champu Consulting to help it develop more effective strategies and marketing plans. The following industrial market research methods and types are used by Champu Consulting:

Market demand research: Through questionnaires and in-depth interviews, Shangpu Consulting collected data on potential demand, effective demand, and ineffective demand for car seat systems, as well as factors that affect changes in demand, such as trends in the automotive industry, Customer preferences and budgets, competitors' products and prices. Shangpu Consulting analyzed the market capacity, growth rate, market share and other indicators of car seat systems, as well as the demand characteristics and differences of different regions, different market segments and different customer groups.

Market segmentation research: According to the different functions, different materials, different prices and other characteristics of the car seat system, Shangpu Consulting divided the market into several sub-markets, and evaluated each sub-market, including its size, growth potential, degree of competition, profit margin, etc. Based on the evaluation results, Shangpu Consulting proposed the selection and priority of target markets for auto parts manufacturers.

Market Positioning Research: Champ Consulting tested the position of auto parts manufacturers in the target market and their differentiation from competitors through scenario simulation and project method. According to the test results, Shangpu Consulting Company puts forward suggestions on product positioning and brand positioning for auto parts manufacturers, including its core value proposition, target customer group, competitive advantage, etc.

Market Competition Research: Champ Consulting collects and analyzes existing or potential competitors in the automotive seat system market, as well as their product, price, channel, promotion and other strategies through sampling and statistical analysis. Based on the results of the analysis, Shangpu Consulting proposed competitive strategies and countermeasures for auto parts manufacturers, including how to maintain or improve their own product quality, technical level, service level, etc., and how to differentiate for different types of competitors Or integration.

Market Satisfaction Research: Through experiments and case studies, Shangpu Consulting assessed the satisfaction of existing customers of auto parts manufacturers with their products or services, as well as the factors that affect satisfaction, such as product performance, beautiful design, Easy installation, after-sales service, etc. Based on the evaluation results, Shangpu Consulting has put forward suggestions for customer relationship management and customer loyalty promotion for auto parts manufacturers, including how to improve the quality and efficiency of products or services, and how to increase customer trust and satisfaction.

Market innovation research: Through focus groups and in-depth interviews, Shangpu Consulting has explored new demands, new technologies, new products, new services, etc. that exist or may appear in the automotive seat system market, as well as their feasibility and acceptability. According to the exploration results, Shangpu consulting company has put forward suggestions on product innovation and service innovation for auto parts manufacturers, including how to use digital technology to improve the intelligence, personalization and environmental protection of products, and how to provide more convenient, flexible and diversified service modes.

Through Champu's industrial market research services, auto parts manufacturers have gained more in-depth and comprehensive market insights, as well as more effective and innovative strategic and marketing solutions. The company achieved higher market share, customer satisfaction and profit margins in its target markets, while also preparing for future market changes. The industrial market research service of Champu Consulting Company is a typical demonstration, showing the application and value of the methods and types of industrial market research.

5.The Future of Industrial Market Research

Industrial market research faces many challenges and opportunities in the current economic environment, such as digital transformation, supply chain restructuring, customer demand diversification, environmental sustainability, etc. In response to these changes, industrial market research needs to be constantly updated and optimized to improve its effectiveness and usefulness. According to the current situation and trend of industrial market research, this paper puts forward the following suggestions:

Strengthen the macro analysis of the industrial market and grasp the industry trends and policy changes. Industrial markets are influenced by economic, social, political and other macro factors, and the impact and expectations of these factors on industrial markets need to be tracked and analyzed in a timely manner in order to make adaptive and preventive decisions. For example, with the intensification of global trade tensions, industrial enterprises need to pay attention to the trade policies and tariff measures of various countries and their impact on the industrial market; with the development of digital technology, industrial enterprises need to pay attention to the digital strategies and norms of various countries and their impact on the industrial market.

Use a variety of data analysis methods to improve the effectiveness and depth of industrial market research. Industrial market research requires the collection and analysis of large amounts of data, including structured and unstructured data, as well as internal and external data. In order to improve the efficiency and accuracy of data analysis, industrial market research needs to use a variety of data analysis methods, such as data mining, data visualization, data modeling, etc., and combine artificial intelligence, machine learning, deep learning and other technologies to discover hidden patterns, relationships, and patterns in the data. For example, by using data mining technology, industrial enterprises can extract valuable information from massive customer feedback, such as customer demand, customer satisfaction, customer loyalty, etc.; by using data visualization technology, industrial enterprises can convert complex data into intuitive charts or images for easy understanding and communication; by using data modeling technology, industrial enterprises can convert data into mathematical or logical models, in order to facilitate the simulation and prediction.

Focus on the segmentation and portrait of target customers to enhance the pertinence and practicality of industrial market research. Due to the characteristics of small scale but large transaction amount, the industrial market needs to pay more attention to the segmentation and portrait of target customers to enhance the pertinence and practicality of industrial market research. The industrial market, due to its small size but large transaction value, needs to pay more attention to the segmentation and portrait of target customers in order to provide different types of customers with products or services that are more in line with their needs and expectations. Industrial market research requires the use of a variety of segmentation and profiling methods, such as segmentation based on geography, industry, size, buying behavior, etc., as well as profiling based on demographics, psychological characteristics, values, etc. For example, through the segmentation and portrait of the car seat system market, industrial enterprises can find that customers in different regions, different industries and different sizes have different needs and preferences for car seat systems. For example, European customers pay more attention to environmental protection and safety, Asian customers pay more attention to comfort and intelligence, large customers pay more attention to price and service, and small customers pay more attention to quality and technology.

Use new technologies and new media to expand the channels and scope of industrial market research. Industrial market research needs to use new technologies and new media to expand the channels and scope of industrial market research in order to obtain more, faster and more accurate data and information. Industrial market research requires the use of new technologies and new media, such as the Internet of Things, cloud computing, blockchain, social media, mobile applications, etc. For example, by using the Internet of Things technology, industrial companies can monitor and collect data on the use, failure, and maintenance of products or services in real time in order to improve and optimize products or services; by using social media, industrial companies can communicate with customers More direct and interactive communication in order to understand customer feedback and suggestions.

Combined with the professional services of Shangpu Consulting Company, it provides customized solutions for industrial enterprises. Industrial market research needs to be combined with the professional services of Shangpu Consulting to provide customized solutions for industrial companies. Champ Consulting has a wealth of experience and knowledge in the industrial field, as well as a professional industrial market research team and methodology. According to the specific situation and needs of industrial enterprises, Shangpu Consulting Company can provide them with a full range of consulting services from market analysis to strategic planning, from marketing strategy to operation management, from organizational change to innovation and development. Shangpu Consulting can help industrial enterprises improve their competitiveness and efficiency in the industrial market.

In conclusion, industrial market research is an important and complex task that requires constant updating and optimization. Starting from the definition, method, type and demonstration of industrial market research, this paper discusses the future prospect of industrial market research and puts forward some suggestions.