1. What is Industrial Market Research?

Industrial market research refers to the systematic analysis and prediction of the demand, supply, competition, price, channel and innovation of industrial products and services to help enterprises formulate effective market strategies and decisions. Industrial products and services refer to those products or services that are mainly used to produce other products or provide other services, such as raw materials, mechanical equipment, electronic components, software systems, etc. Compared with the consumer goods market, the industrial market has the following characteristics:

-Large scale: According to World Bank data,2019Global manufacturing value added reached13.6Trillions of dollars, accounting for globalGDPof15.7%; global energy consumption reaches1.4100 million tons of standard coal equivalent, accounting for total global energy consumption.54.6%。

-Complex structure: The industrial market involves multiple industries and sectors, such as manufacturing, energy, chemicals, construction, transportation, environmental protection, etc.; each industry or sector contains multiple segments and subcategories, such as automobile manufacturing, food processing, Solar power generation, etc.

-Product diversity: there are many kinds of industrial products, different forms and different functions, such as metal materials, plastic products, electronic devices, etc.; industrial services also have many forms, such as technical consultation, equipment maintenance, logistics and transportation, etc.

-Strong professionalism: Industrial products and services often involve a high degree of technical knowledge and specialized skills, such as mechanical design, circuit principles, chemical reactions, etc.; industrial customers also often have professional background and experience, such as engineers, technicians, managers Wait.

-High dynamics: The industrial market is affected by many factors, such as policies and regulations, economic environment, technological innovation, social needs, etc.; these factors will lead to changes and development of the industrial market, such as the emergence of new products, the influx of new customers, the intensification of new competition, etc.

Due to the characteristics of the industrial market, industrial market research requires the following capabilities:

-Collect and analyze a large amount of data, such as market size, growth rate, share, price, cost, profit, etc;

-Understand and evaluate the impact of various factors, such as customer needs, supplier capabilities, competitor strategies, industry trends, etc;

-Predict and recommend the future market situation and development direction, such as market opportunities, risks, challenges, etc;

-Provide effective market strategy and decision-making suggestions, such as product positioning, price strategy, channel selection, innovation scheme, etc.

Scope and field of 2. industrial market research

The scope and field of industrial market research is very wide, covering various industries and sectors, such as manufacturing, energy, chemical, construction, transportation, environmental protection, etc. Each industry or sector can be subdivided into multiple fields and subcategories. For example, automobile manufacturing can be divided into passenger cars, commercial vehicles, new energy vehicles, etc.; food processing can be divided into meat, dairy products, beverages, etc. According to different research purposes and objects, industrial market research can be divided from the following angles:

-Divided by product or service type: According to the form and function of the product or service, industrial market research can be divided into the following categories:

-Industrial raw material market research: refers to the market research of basic substances or goods used in the production of other industrial products or the provision of other industrial services, such as steel, oil, wood, etc.

-Industrial intermediate market research: refers to those after a certain processing or treatment, but also need to be further processed or processed to become the final product or service of the material or goods market research, such as plastic products, electronic components, chemicals, etc.

-Industrial end product market research: refers to the market research of substances or items that have become final products or services and can be directly provided to other enterprises or individuals for use or consumption, such as machinery and equipment, software systems, consulting services, etc.

-Divided by customer type: According to the nature and characteristics of customers, industrial market research can be divided into the following categories:

  - B2B（Business to Business) Market research: refers to the market research of enterprises that mainly provide products or services to other enterprises, such as steel mills, equipment manufacturers, technical consulting companies, etc.

  - B2G（Business to Government) Market research: refers to the market research of enterprises that mainly provide products or services to government agencies, such as construction companies, transportation companies, environmental protection companies, etc.

  - B2C（Business to Consumer) Market research: refers to the market research of enterprises that mainly provide products or services to individual consumers, such as home appliance manufacturers, software developers, education and training institutions, etc.

-Divided by geographical scope: According to the geographical location and regional characteristics of the market, industrial market research can be divided into the following categories:

-Global market research: refers to the study of industrial markets involving multiple countries and regions, such as multinational companies, international organizations, global products or services, etc.

-Regional market research: refers to the study of industrial markets related to a specific geographical area, such as the European Union, ASEAN, North American Free Trade Area, etc.

-Domestic market research: refers to the research of industrial markets within a country or region, such as China, the United States, Japan, etc.

-Local market research: refers to the study of industrial markets involving a city or place, such as Beijing, New York, London, etc.

Methods and Techniques of 3. Industrial Market Research

The methods and techniques of industrial market research are also diverse, including qualitative and quantitative data collection, analysis and presentation, as well as forecasting and recommend based on models and algorithms. According to different research objectives and process, industrial market research can be carried out from the following steps:

-Determine research objectives: identify the problem to be solved or the purpose to be achieved, such as understanding customer needs, evaluating competitive advantages, formulating pricing strategies, etc.

-Design research program: select the appropriate scope and field, determine the source and type of data, and develop methods and techniques for data collection and analysis, such as questionnaires, in-depth interviews, regression analysis, cluster analysis, etc.

-Implement data collection: According to the research plan, use corresponding tools and channels to collect the required data, such as network search, database query, telephone visit, on-site observation, etc.

-Data analysis: According to the data type and characteristics, the corresponding statistical methods and software are used to clean, organize, process and interpret the data, suchExcel、SPSS、RWait.

-Presentation of data results: According to the analysis objectives and results, the corresponding charts and text are used to summarize, display and explain the data, such as bar charts, pie charts, report documents, etc.

-Propose conclusions and recommendations: based on data results and analysis, make logical and factual conclusions and recommendations, such as market opportunities, risk factors, strategic options, etc.

4. Champu Consulting's customized services

Champu Consulting has a team of senior industry experts, market analysts and data scientists to provide high-quality industrial market research services to enterprises in various industries around the world. The service of Shangpu Consulting Company is characterized by a high degree of customization. According to different customers, projects, goals and backgrounds, it selects the appropriate scope and field, designs reasonable methods and technologies, and provides valuable results and suggestions. The services of Champ Consulting include:

-Market research: Conduct comprehensive and in-depth investigation and analysis of the scale, structure, growth, trends, opportunities, risks, etc. of the industrial market to provide customers with objective and accurate market information and insights.

-Competitive analysis: detailed and systematic comparison and evaluation of the products, prices, channels, strategies, advantages and disadvantages of the main competitors in the industrial market, so as to provide customers with strong and effective competitive advantages and countermeasures.

-Customer analysis: detailed and in-depth understanding and interpretation of the needs, preferences, behaviors and satisfaction of the target customers in the industrial market, and providing customers with product or service solutions and suggestions that fit and satisfy.

-Price analysis: scientific and reasonable calculation and prediction of the price level, structure, elasticity and influencing factors of products or services in the industrial market, so as to provide customers with appropriate and favorable price strategies and suggestions.

-Channel analysis: to explore and optimize the types, characteristics, effects and problems of the sales channels of products or services in the industrial market, so as to provide customers with efficient and convenient channel selection and suggestions.

-Innovation analysis: forward-looking and creative discovery and promotion of innovative needs, directions, methods and difficulties of products or services in the industrial market, so as to provide customers with novel and valuable innovative solutions and suggestions.

The service process of Champ Consulting includes:

-Communication needs: communicate fully and effectively with customers, understand the basic situation of customers, research objectives, expected results, etc., to determine the intention and scope of cooperation.

-Sign a contract: sign a formal contract with the customer, clarify the rights and obligations of both parties, service content, cost standards, delivery time, etc., to protect the interests of both parties.

-Implementation of research: according to the content of the contract, organize a professional team, in accordance with the research program, the use of appropriate methods and techniques, collection and analysis of data, the formation of results.

-Report submission: According to the research results, write and submit the report document, including summary, body, conclusion and suggestion, etc., and attach relevant data sheets and charts.

-Feedback evaluation: communicate with customers, explain and explain the contents of the report, answer and solve customer questions, collect and improve customer opinions, complete and evaluate the service.

Examples of services offered by Champ Consulting include:

-An automobile manufacturer commissioned Shangpu Consulting to conduct research on the European new energy vehicle market to understand the market size, growth rate, competition pattern, policies and regulations, etc., and put forward feasibility and strategic suggestions for entering the market. Shangpu Consulting Company collected a large amount of data through network search, database query, expert interview and other methods, and carried out in-depth analysis through regression analysis, cluster analysis and other methods. Champu Consulting found that the European NEV market has the following characteristics:

-The market is large and growing fast: According to the European Automobile Manufacturers Association (ACEA) data,2020Sales of new energy vehicles in Europe reached137.9Ten thousand vehicles, up year on year137%, accounting for the total European car sales10.5%。

-The market is highly competitive and diversified: accordingJATO Dynamicsdata,2020The top five brands in the European new energy vehicle market in 2010 were Tesla, Volkswagen, Renault, Hyundai and BMW, with market shares13.2%、12.4%、10.8%、7.6%and6.9%At the same time, there are many types of new energy vehicles on the market, such as pure electric vehicles, hybrid vehicles, and hydrogen fuel cell vehicles.

-Market policies support and are conducive to innovation: According to data from the European Commission, the EU has formulated a series of policy measures to promote the development of new energy vehicles, such as providing financial subsidies, tax relief, and setting up charging piles; at the same time, the EU also encourages Automakers carry out technological innovation and cooperation, such as the launch of higher-performance, lower-cost, and more environmentally friendly new energy vehicles.

-Based on the above analysis, Shangpu Consulting believes that the European new energy vehicle market has high attractiveness and potential, and recommends that the automaker adopt the following strategies to enter the market:

-Choose appropriate target markets and market segments: According to the market characteristics and demand differences of different countries and regions, choose countries and regions with higher market share and growth rate, such as Germany, France, the United Kingdom, etc.; at the same time, according to different types And the market performance and competition of new energy vehicles of different levels, choose market segments with higher profit margins and differentiated advantages, such as pure electricSUV, Hybrid cars, etc.

-Formulate reasonable product positioning and price strategy: according to the customer needs and preferences of the target market and market segments, determine the characteristics and advantages of the product in terms of function, performance, quality, design, etc., such as high efficiency and energy saving, intelligent safety, comfort and luxury, etc. At the same time, determine the price level and structure of the product according to factors such as product cost, competitor price, customer willingness to pay, etc, such as high-end pricing, installment payments, etc.

-Choose effective sales channels and promotion methods: According to the sales characteristics and habits of the target market and market segments, choose appropriate sales channels and models, such as direct sales, dealer agency, online ordering, etc.; at the same time, according to the target market and Market segment promotion characteristics and habits, choose appropriate promotion methods and methods, such as advertising, word-of-mouth communication, social media, etc.

-A chemical enterprise commissioned Shangpu Consulting Company to carry out China Polyurethane (PU) Market competition analysis to understand the market competition pattern, the advantages and disadvantages of the main competitors, their own position and performance in the market, etc., and put forward suggestions to enhance competitiveness. Champ Consulting has collected a large amount of data through in-depth interviews, expert consultations, and other methods.SWOTanalysis, Porter's five forces model and other methods are analyzed in depth. Champ Consulting found that China's polyurethane (PU) The market has the following characteristics:

-Market demand is strong and diversified: According to the China Chemical Industry Information Center,2019China Polyurethane (PU) consumption reached105010,000 tons, accounting for total global consumption.46.7%; polyurethane (PU) Widely used in construction, furniture, automobiles, shoes and clothing and other fields, the demand structure is diversified.

-The market is oversupplied and decentralized: according to the China Chemical Industry Information Center,2019China Polyurethane (PU) production reaches1150million tons, the capacity utilization rate is only67.4%; polyurethane (PU) There are many production enterprises with different scales, fierce competition and low market concentration.

-Market competition is fierce and multi-level: According to the survey and analysis of Shangpu Consulting, China's polyurethane (PU) The main competitors in the market include the following categories:

-Internationally renowned brands: such as BASF, Dow, Bayer, etc., have strong technical advantages, brand advantages and channel advantages, mainly occupying the high-end market and high-profit market.

-Domestic leading companies: such as Wanhua Chemical, China Resources Chemical, Sinopec, etc., have strong scale advantages, cost advantages and market advantages, mainly occupying the mid-market and mass market.

-Domestic small and medium-sized enterprises: such as Shandong Taishan, Jiangsu United, Zhejiang East China, etc., have strong flexibility advantages, regional advantages and service advantages, mainly occupying the low-end market and market segments.

-Based on the above analysis, Shangpu Consulting Company believes that the chemical enterprise in China polyurethane (PU) It is in the middle position and performance in the market, and is facing competitive pressure and challenges from upstream and downstream. It is recommended that the chemical company adopt the following strategies to enhance its competitiveness:

-Strengthen technological innovation and product development: by increasing investment in research and development, introducing advanced technology, and cooperating with scientific research institutions, we can improve the quality, performance, and function of products, meet the needs and preferences of different customers, and enhance the added value of products And differentiated advantages.

-Optimize cost control and price strategy: by improving production efficiency, reducing raw material costs, and implementing lean management, reduce product production costs and operating costs, and improve product profitability and competitiveness; at the same time, according to the price of different markets and customers Sensitivity and willingness to pay, formulate a reasonable price level and structure to improve the price elasticity and attractiveness of products.

-Expand sales channels and promotion methods: by establishing its own sales network, cooperating with distributors, and developing e-commerce platforms, expand the sales channels and coverage of products, and increase the market share and popularity of products; at the same time, through advertising, Participate in exhibition activities, carry out customer training, etc., promote the brand image and value proposition of the product, and improve the market awareness and loyalty of the product.

5. Conclusion

Industrial market research is an important market activity that can help companies understand market conditions, evaluate competitive advantages, and formulate effective market strategies and decisions. The scope and field of industrial market research is very wide, covering various industries and sectors, such as manufacturing, energy, chemical, construction, transportation, environmental protection, etc. The methods and techniques of industrial market research are also diverse, including qualitative and quantitative data collection, analysis and presentation, as well as forecasting and recommend based on models and algorithms. The difficulty of industrial market research lies in the complexity, diversity, professionalism and dynamics of industrial products and services, as well as the rational, sensitive, multi-level and multi-faceted needs of industrial customers.

Therefore, industrial market research needs a high degree of customization, according to different customers, projects, goals and backgrounds, select the appropriate scope and field, design reasonable methods and technologies, and provide valuable results and suggestions. Shangpu Consulting is a consulting company specializing in industrial market research, providing high-quality industrial market research services to enterprises in various industries around the world. The service of Shangpu Consulting Company is characterized by a high degree of customization. According to different customers, projects, goals and backgrounds, it selects the appropriate scope and field, designs reasonable methods and technologies, and provides valuable results and suggestions. Taking Shangpu Consulting Company as an example, this paper introduces its customized services in industrial market research, including its service content, process, characteristics and cases, in order to provide reference for enterprises or individuals who intend to engage in or improve the level of industrial market research.