The Four Pitfalls of Corporate Research

Enterprise research refers to the process of collecting, sorting, analyzing and evaluating the relevant information of benchmarking enterprises to understand the strategic objectives, core capabilities, market performance, advantages and disadvantages of benchmarking enterprises, so as to provide reference and basis for enterprises to formulate strategies and marketing decisions. Corporate research is an important part of corporate strategic management and one of the important services that consulting firms provide to their clients.

However, many companies will fall into some common misunderstandings when conducting corporate research, which will lead to distorted or invalid research results, and even cause wrong decisions and adverse consequences. As a professional consulting firm, in the process of providing corporate research services to clients, Shangpu Consulting has found four major pitfalls in corporate research, namely:

The question itself.

The Misdirection of Quantitative Data

Bias in Questionnaire Understanding

The Dilemma of Reversal of Responsibility

Below, we will analyze these four traps and propose corresponding solutions to help companies better analyze benchmarking companies and enhance their competitiveness.

1. questions themselves.

The question of the question itself means that when designing the research questionnaire or putting forward the research question, the rationality, validity and objectivity of the question are not fully considered, which leads to the subjectivity, ambiguity and guidance of the question, thus affecting the understanding and answer of the researcher, resulting in the deviation and distortion of the research results.

Therefore, to avoid asking the question itself, we need to pay attention to the following points:

Questions should be in line with the purpose of the research and avoid irrelevant or meaningless questions.

Questions should be clear and unambiguous to avoid vague or ambiguous questions

Questions should be objective and neutral, avoiding subjective or leading questions

Issues should be appropriately open to avoid being too closed or too broad

Questions should be logically ordered to avoid random or confusing questions

When providing corporate research services to customers, Shangpu Consulting will design reasonable and effective research questionnaires or questions according to customers' needs and goals. At the same time, it will combine observation, research, experiments and other methods to gain in-depth understanding from multiple angles and levels. The situation of benchmarking companies. For example, when conducting enterprise research for an electronic product manufacturer, Shangpu Consulting not only investigated consumers' cognition, attitude and behavior of benchmarking enterprise products through questionnaires, but also visited the sales outlets of benchmarking enterprises on the spot, observed the product display, promotion activities and service quality of benchmarking enterprises, and experienced the product functions, performance and user feelings of benchmarking enterprises through mysterious customers, so as to get a more comprehensive, more in-depth, more real benchmarking enterprise information.

2. the misleading quantitative data

The misleading of quantitative data means that when collecting and analyzing the quantitative data of benchmarking enterprises, the source, quality and background of the data are not fully considered, resulting in one-sidedness, limitation and failure of the data, thus affecting the correct judgment and evaluation of benchmarking enterprises, resulting in biased and invalid research results.

For example, some companies rely too much on public or third-party data when analyzing the market share of benchmarking companies, believing that these data are objective, authoritative and reliable. However, there are often some problems with these data, such as the definition, scope, method, time and source of the data may be inconsistent, there may be errors in the collection, collation, analysis and release of the data, there may be bias in the interpretation, utilization and dissemination of the data, there may be lag in the changes, trends and impacts of the data, and so on. These problems will affect the authenticity, accuracy and validity of the data. If you blindly believe or use these data incorrectly, you will have a wrong understanding and judgment of the strength and trend of the benchmarking company.

Therefore, to avoid misleading quantitative data, the following points need to be noted:

Data should be clearly defined to avoid vague or ambiguous data

Data from reliable sources to avoid uncertain or untrustworthy data

Data should have reasonable methods to avoid unscientific or non-standard data

Data should have valid time to avoid outdated or non-updated data

Data should have a complete background, avoid isolated or detached data

When providing corporate research services to clients, Shangpu Consulting collects, analyzes and processes quantitative data from multiple channels and platforms based on clients' needs and goals, while combining qualitative perspectives and insights, from multiple dimensions and perspectives, conduct a comprehensive, accurate and effective analysis and evaluation of the market share, sales, profit margin, cost structure, customer satisfaction, brand awareness and other indicators of benchmarking enterprises. For example, when conducting enterprise research for an automobile manufacturer, Shangpu Consulting not only collected and analyzed public or third-party data such as financial statements, market reports and industry data of benchmark enterprises, but also investigated and investigated stakeholders such as suppliers, distributors, partners and customers of benchmark enterprises, as well as purchased and tested cars of benchmark enterprises, so as to obtain more real, more comprehensive and more valuable benchmark enterprise data.

Bias in 3. Questionnaire Understanding

The deviation of questionnaire understanding refers to that when designing and using the questionnaire, the background, characteristics and psychology of the investigated person are not fully considered, resulting in the content, form and method of the questionnaire not suitable for the actual situation of the investigated person, thus affecting the understanding and answer of the investigated person, resulting in the distortion and invalidity of the research results.

For example, some companies use standardized or generic questionnaires when investigating the customer satisfaction of benchmarking companies, arguing that this ensures the scientificity and comparability of the questionnaires. However, such questionnaires often have some problems. For example, the language, terms, concepts, scales and options of the questionnaires may not conform to the level, habits, culture and preferences of the respondents. The length, complexity, difficulty and sensitivity of the questionnaires may exceed the tolerance, patience, ability and willingness of the respondents, the distribution, filling, collection and feedback of questionnaires may not be suitable for the time, place, mode and needs of the respondents, etc. These problems will lead to deviations, errors or deficiencies in the understanding and answers of the respondents. If they are not corrected or supplemented, they will have wrong evaluation and judgment on the customer satisfaction of benchmarking enterprises.

Therefore, to avoid the deviation of questionnaire understanding, we need to pay attention to the following points:

Questionnaires should be tailored to the level of the respondents and avoid too high or too low questionnaires.

Questionnaires should conform to the habits of the respondents and avoid unfamiliar or unsuitable questionnaires.

Questionnaires should take into account the culture of the respondents and avoid questionnaires that are not respected or understood.

Questionnaires should meet the preferences of the respondents and avoid questionnaires that are not liked or satisfied.

The questionnaire should be adapted to the situation of the investigated person and avoid inconvenient or inappropriate questionnaires.

When providing corporate research services to customers, Shangpu Consulting will design and use research questionnaires suitable for the surveyed according to the background, characteristics and psychology of the surveyed, and at the same time combine other research methods, such as research, observation, experiment, etc. Obtain the true and effective information of the surveyed from multiple channels and angles. For example, when conducting business research for a restaurant chain enterprise, Shangpu Consulting not only designed and used different questionnaires for different age, gender, income, education, occupation and other groups, but also conducted different investigations, observations and experiments at different times, places, occasions and ways, thus, the benchmarking enterprise information that is closer to and reflects the needs, feelings and behaviors of the respondents is obtained.

The Dilemma of Reversal of 4. Responsibility

The dilemma of reversal of responsibility refers to the failure to fully consider the purpose, significance and value of the research when conducting and using enterprise research, resulting in unclear responsibilities, rights and obligations of the research, thus affecting the implementation and application of the research. resulting in the waste and uselessness of the research results.

For example, when some enterprises entrust a consulting company to conduct enterprise research, they will think that this is the responsibility and obligation of the consulting company, and they are only the recipients and users of the research. Therefore, they do not need to participate in or cooperate with the research process, nor do they need to pay attention to or evaluate the results of the research. They only need to wait for or accept the report or suggestion of the consulting company. However, such an attitude often leads to some problems. For example, the needs, objectives, expectations and standards of the enterprise may be unclear or unclear, resulting in the research plan, method, content and scope of the consulting company may not be suitable or meet the actual situation of the enterprise, and the information, resources, support and feedback of the enterprise may be insufficient or not timely, as a result, the research process, efficiency, quality and effectiveness of the consulting firm may be affected, and the understanding, recognition, adoption and implementation of the enterprise may not be in place or consistent, resulting in the research results, suggestions, value and significance of the consulting firm may be ignored or wasted, and so on. These problems will lead to the responsibility and rights of research being reversed, the significance and value of research being weakened, and the purpose and effect of research being lost.

Therefore, to avoid the dilemma of reversal of responsibilities, the following points need to be paid attention:

The purpose of research should be clear, avoid aimless or meaningless research.

Research to clear needs, avoid unclear or unclear research

Research should be conducted in cooperation and cooperation to avoid non-participation or unsupported research.

Research should focus on evaluation and avoid research that does not care or feedback.

Research should be applied and implemented to avoid non-adoption or non-implementation of research.

When providing corporate research services to customers, Shangpu Consulting will establish good communication and cooperation with customers according to the purpose, significance and value of the research, clarify the responsibilities, rights and obligations of the research, and combine the needs, goals, expectations and standards of customers. Provide research plans, methods, content and scope suitable for customers, as well as high-quality research process, efficiency, quality and effect, and valuable research results, suggestions, value and significance, as well as effective research application, implementation, monitoring and improvement, so as to maximize the benefits of research. For example, when conducting corporate research for a clothing brand, Shangpu Consulting not only clarified the purpose, demand, expectation and standard of the research through full communication and consultation with customers, but also provided customers with detailed research plans, methods, contents and scope, as well as efficient research process, quality, effect and feedback, as well as useful research results, suggestions, value and significance, as well as effective research application, execution, monitoring and improvement, thus helping customers to increase competitiveness and market share.

In short, enterprise research is an important basis for enterprises to make strategic and marketing decisions, but there are also some common misunderstandings and traps that need to be paid attention to and avoided by enterprises and consulting companies in order to improve the quality and effectiveness of research. As a professional consulting company, Shangpu Consulting has rich experience and ability in enterprise research. It can provide customers with comprehensive, in-depth, accurate and effective benchmarking enterprise information and suggestions, help customers better analyze benchmarking enterprises and enhance their competitiveness.