Industrial market research refers to the market research and analysis of industrial products or services, aiming to provide professional solutions for the strategic decision-making of enterprises. Industrial market research is very different from consumer market research, and more factors need to be considered, such as technology, cost, competition, channels, policies, etc. However, many companies are prone to fall into some misunderstandings when conducting industrial market research, resulting in inaccurate or unreliable research results, and even strategic errors. This paper will analyze the common misunderstandings of industrial market research from four aspects, and put forward the corresponding coping strategies, hoping to provide some reference and enlightenment for industrial enterprises.

Industrial market research refers to the market research and analysis of industrial products or services, aiming to provide professional solutions for the strategic decision-making of enterprises. Industrial market research is very different from consumer market research, and more factors need to be considered, such as technology, cost, competition, channels, policies, etc. However, many companies are prone to fall into some misunderstandings when conducting industrial market research, resulting in inaccurate or unreliable research results, and even strategic errors. This paper will analyze the common misunderstandings of industrial market research from four aspects, and put forward the corresponding coping strategies, hoping to provide some reference and enlightenment for industrial enterprises.

Myth 1: Ignoring industry characteristics and customer needs

When conducting industrial market research, many companies tend to focus only on their own products or services, ignoring the characteristics of the industry and the needs of customers. Doing so can cause the following problems:

Can not accurately grasp the development trend and opportunities of the industry, miss the market opportunity;

Not in-depth understanding of the customer's purchase behavior and decision-making process, the lack of effective marketing strategy;

Failure to meet the individual and differentiated needs of customers, reducing the competitiveness of products or services;

Can not establish a stable customer relationship, affecting customer loyalty and word of mouth.

Coping strategies:

When conducting industrial market research, it is necessary to fully consider the characteristics of the industry, such as technical level, cost structure, competition pattern, policies and regulations, etc., and track industry dynamics and changes in a timely manner;

When conducting industrial market research, we should deeply understand the customer's needs, such as functional requirements, performance requirements, quality requirements, service requirements, etc., and collect customer feedback and suggestions through various ways;

When conducting industrial market research, we should pay attention to the differentiated needs of customers, such as scale needs, customization needs, innovation needs, etc., and formulate corresponding product or service plans according to different customer groups;

When conducting industrial market research, we must pay attention to customer relationship management, such as communication frequency, service quality, trust, satisfaction, etc., and maintain customer relationships and enhance customer value through multiple channels.

Myth 2: Over-reliance on secondary data and quantitative analysis

Many companies tend to rely too much on second-hand data and quantitative analysis while neglecting first-hand data and qualitative analysis when conducting industrial market research. Doing so can cause the following problems:

Inability to obtain the latest and most authentic market information, resulting in invalidation or distortion of research results;

The potential needs and problems of the market cannot be deeply explored, leading to superficial or one-sided research results;

The complexity and diversity of the market are not fully understood, leading to oversimplification or unification of research results;

The inability to effectively identify market opportunities and risks leads to overly optimistic or pessimistic research results.

Coping strategies:

When conducting industrial market research, first-hand data and qualitative analysis, such as interviews, observations, cases, focus groups, etc., should be appropriately used, and cross-validation and comprehensive analysis should be combined with second-hand data and quantitative analysis;

When conducting industrial market research, a variety of methods and techniques should be used for data collection and analysis, such as sampling, investigation, experiment, model, prediction, etc., and appropriate methods and techniques should be selected according to different purposes and objects;

When conducting industrial market research, we should pay attention to the quality and validity of data, such as source, timeliness, accuracy, completeness, comparability, etc., and clean, process, organize and summarize the data;

When conducting industrial market research, pay attention to the interpretation and application of data, such as meaning, value, enlightenment, suggestions, etc., and formulate corresponding action plans and implementation plans based on the results of the data.

Misunderstanding 3: Lack of systematicness and comprehensiveness

Many enterprises in the industrial market research, often lack of systematic and comprehensive, only focus on one aspect or level of problems, while ignoring other aspects or levels of problems. Doing so can cause the following problems:

Can not form a complete market portrait, resulting in the results of the study is not representative or universal;

Can not grasp a complete market logic, resulting in the results of the study is not internal or inevitable;

A complete market system cannot be constructed, resulting in research results that are not structural or relevant;

Can not put forward a complete market plan, resulting in the results of the study is not feasible or operable.

Coping strategies:

When conducting industrial market research, it is necessary to analyze from both macro and micro levels, such as environmental analysis, industrial analysis, enterprise analysis, product analysis, etc., and to show the characteristics and laws of the market from different angles;

When conducting industrial market research, it is necessary to analyze both demand and supply, such as customer demand analysis, competitor supply analysis, self-supply analysis, etc., and reveal the dynamics and mechanisms of the market from different dimensions;

When conducting industrial market research, it is necessary to analyze from both upstream and downstream directions, such as raw material supply analysis, production process analysis, channel sales analysis, terminal consumption analysis, etc., and present the market process and efficiency from different links;

When conducting industrial market research, it is necessary to analyze the current situation and the future, such as market status analysis, market trend analysis, market forecast analysis, etc., and look forward to the development and changes of the market from different stages;

When conducting industrial market research, it is necessary to analyze both opportunities and risks, such as market opportunity identification, market risk assessment, market strategy formulation, etc., and to formulate market goals and programs from different perspectives.

Myth 4: Lack of professionalism and innovation

Many enterprises in the industrial market research, often lack of professionalism and innovation, only repeat or imitate the existing research methods or results, while ignoring their own characteristics and advantages. Doing so can cause the following problems:

Can not give full play to their own core competitiveness, resulting in the results of the study is not differentiated or dominant;

Can not effectively adapt to the changes and needs of the market, resulting in the results of the study is not flexible or adaptable;

Failure to seize market opportunities and potential in a timely manner, resulting in research results that are not forward-looking or leading;

Can not continue to improve their own ability and level, resulting in research results are not sustainable or sustainable.

Coping strategies:

When conducting industrial market research, we should make full use of our own resources and advantages, such as technology, brand, channel, service, etc., and carry out research customization and output according to our own positioning and goals;

When conducting industrial market research, it is necessary to flexibly use a variety of research methods and tools, such as desktop surveys, field surveys, online surveys, big data analysis, etc., and conduct research adjustments and optimization according to market changes and needs;

When conducting industrial market research, we should actively explore new research fields and directions, such as new technologies, new products, new models, new demands, etc., and make research innovations and breakthroughs according to the opportunities and potentials of the market;

When conducting industrial market research, we must continue to learn and learn from advanced research experience and cases, such as excellent domestic and foreign consulting agencies, industry leaders, successful companies, etc., and conduct research and improvement according to our own capabilities and levels.

Summary:

Industrial market research is an important strategic decision support work, which needs to avoid some common misunderstandings and adopt corresponding coping strategies. This paper analyzes the misunderstandings and coping strategies of industrial market research from four aspects, namely:

Ignore the characteristics of the industry and customer needs: to fully consider the characteristics of the industry and customer needs, and through a variety of ways to collect customer feedback and suggestions;

Over-reliance on second-hand data and quantitative analysis: appropriate use of first-hand data and qualitative analysis, and combined with second-hand data and quantitative analysis for cross-validation and comprehensive analysis;

Lack of systematicness and comprehensiveness: it is necessary to analyze from the macro and micro levels, demand and supply, upstream and downstream directions, current and future time points, opportunities and risks, and show the characteristics and laws of the market from different angles;

Lack of professionalism and innovation: we should make full use of our own resources and advantages, flexibly use a variety of research methods and tools, actively explore new research fields and directions, and constantly learn from advanced research experience and cases.