Data Quality

Data is the basis of market research, and the quality of data directly affects the credibility and validity of the results of market research. The professionalism of market research companies is reflected in their ability to obtain, organize, manage and utilize high-quality data, including the following aspects:

Data sources: Market research companies should have a variety of data sources, including first-hand data and second-hand data, as well as quantitative data and qualitative data to meet different research purposes and needs. First-hand data refers to data collected directly from target markets or consumers by market research companies, such as questionnaires, in-depth interviews, focus groups, observation methods, etc. Second-hand data refers to data obtained by market research companies from other sources or institutions, such as government statistics, industry reports, online data, social media data, etc. Quantitative data refers to data that can be described and analyzed by numerical or statistical methods, such as sales, market share, consumer satisfaction, etc. Qualitative data refers to data that can be described and analyzed in words or images, such as consumer psychology, attitudes, motivations, feelings, etc. Market research companies should select appropriate data sources based on research objectives and questions to ensure the validity and representativeness of the data.

Data collection: Market research companies should have professional data collection methods and skills to ensure the accuracy and integrity of the data. The methods and techniques of data collection include the following aspects: first, design a reasonable research plan, including determining the research purpose, scope, object, sample, time, budget, etc.; Second, formulate scientific research tools, including compiling appropriate questionnaires, interview guides, observation forms, etc.; Third, implement standardized research process, including selecting appropriate research channels, methods, timing, frequency, etc; the fourth is to ensure the authenticity and reliability of the data, including avoiding data deviation, distortion, and leakage.

Data processing: Market research companies should have efficient data processing capabilities to ensure data clarity and availability. The ability of data processing includes the following aspects: first, data cleaning and verification, including deleting or correcting invalid, duplicate, wrong and abnormal data; second, data integration and classification, including unification and grouping of data from different sources, types and formats; third, data storage and management, including the use of appropriate databases, software, platforms, etc, in order to facilitate data query, update, sharing, etc.

Data analysis: Market research companies should have in-depth data analysis skills to ensure that the data is valuable and meaningful. The skills of data analysis include the following aspects: first, choose appropriate data analysis methods, including descriptive analysis, correlation analysis, causal analysis, predictive analysis, etc.; second, use effective data analysis tools, including the use of professional statistical software, models, algorithms, etc.; third, present clear data analysis results, including the use of appropriate charts, indicators, reports, etc.

A typical example of the data quality of a market research company is the market research service provided by Shangpu Consulting for a world-renowned sports brand. The sports brand wants to understand the cognition, attitude and behavior of consumers in the Chinese market, as well as the competitive advantages and disadvantages of its brand in the Chinese market, so as to formulate more targeted marketing strategies. The following data quality measures have been adopted by Champ Consulting:

Data sources: Champ Consulting uses a variety of data sources, including first-hand and second-hand data, as well as quantitative and qualitative data. The first-hand data mainly comes from online questionnaires and offline in-depth interviews, covering consumers of different ages, genders, regions, incomes, education, etc., with a total of 3000 valid samples. The second-hand data mainly comes from network data and social media data, including consumers' search volume, click volume, comment volume, forwarding volume, like volume, etc., as well as consumers' word-of-mouth, evaluation and emotion of the sports brand. Quantitative data mainly includes consumer awareness of the sports brand, purchase rate, loyalty, satisfaction and other indicators. Qualitative data mainly includes the description of consumers' impression, preference, demand, motivation and challenge of the sports brand.

Data collection: Champu Consulting uses professional data collection methods and techniques to ensure the accuracy and completeness of the data. The methods and techniques of data collection include the following aspects: first, design a reasonable research plan, and clarify the purpose, scope, object, sample, time, budget, etc. of the research; The second is to formulate scientific research tools and compile questionnaires and interview guides that conform to logic, content and format. The third is to implement a standardized research process and choose appropriate research channels, methods, timing and frequency; the fourth is to ensure the authenticity and reliability of the data, and avoid the deviation, distortion and leakage of the data.

Data processing: Champ Consulting uses efficient data processing capabilities to ensure data clarity and availability. The ability of data processing includes the following aspects: one is to clean and verify the data, delete or correct invalid, duplicate, wrong and abnormal data; the other is to integrate and classify the data, and to combine different sources, types and formats.

Data Analysis: Champ & amp; Consulting uses in-depth data analysis skills to ensure that the data is valuable and meaningful. The skills of data analysis include the following aspects: first, choose appropriate data analysis methods, including descriptive analysis, correlation analysis, causal analysis, predictive analysis, etc.; second, use effective data analysis tools, including the use of professional statistical software, models, algorithms, etc.; third, present clear data analysis results, including the use of appropriate charts, indicators, reports, etc.

The data analysis results of Shangpu Consulting Company show the following market insights and suggestions:

The sports brand has a high awareness in the Chinese market, but the purchase rate and loyalty are low. The main reason is that consumers are not satisfied with its brand image, product quality, price strategy, marketing activities and other aspects, as well as the influence of competitors.

The target consumers of the sports brand in the Chinese market are mainly young, fashionable, healthy and energetic groups. Their needs and preferences for sports brands are mainly functionality, comfort, fashion, personalization and socialization.

The competitive advantage of the sports brand in the Chinese market is its brand history, international influence, innovation ability and star endorsement, and the competitive disadvantage is its brand positioning, product differentiation, price competitiveness and localization.

The marketing strategy of the sports brand in the Chinese market should be:

Brand strategy: clear brand positioning, highlight brand characteristics, enhance brand image, enhance brand loyalty.

Product strategy: Develop products that are more in line with the needs and preferences of the Chinese market and consumers, improve product quality and functionality, and increase product differentiation and personalization.

Price strategy: set a reasonable price range, consider consumers' ability to pay and psychology, compete effectively with competitors, and provide more price concessions and discounts.

Promotion strategy: Adopt a variety of promotion methods, including advertising, public relations, sales promotion, direct marketing, etc., to increase the brand's exposure and influence, stimulate consumers' desire and behavior to buy, and increase the brand's market share.

Channel strategy: Use multiple channels, including online and offline, to expand brand coverage and reach, improve brand accessibility and accessibility, and increase brand sales and profits.

analysis ability

Analysis ability is the core of market research, analysis ability directly affects the depth and breadth of the results of market research. The professional level of market research companies is reflected in their ability to use, innovate and integrate a variety of analytical methods and models to conduct a comprehensive, in-depth and systematic analysis of the market and consumers from different angles and levels, so as to extract valuable market insights and suggestions, including the following aspects:

Analytical methods: Market research companies should master and apply a variety of analytical methods, including quantitative and qualitative analysis, as well as basic and advanced analysis, to meet different analytical purposes and needs. Quantitative analysis refers to the use of mathematical and statistical methods to quantify the measurement and calculation of data, such as averages, standard deviations, correlation coefficients, regression analysis, etc. Qualitative analysis refers to the non-quantitative interpretation and understanding of data using language and image methods, such as content analysis, discourse analysis, narrative analysis, etc. Basic analysis refers to the use of simple methods to describe and summarize the data, such as frequency distributions, cross tables, histograms, pie charts, etc. Advanced analysis refers to the use of complex methods to explore and infer data in depth, such as factor analysis, cluster analysis, discrimination analysis, structural equation modeling, etc. The market research company should select the appropriate analysis method according to the objectives and problems of the analysis to ensure the effectiveness and comprehensiveness of the analysis.

Analytical models: Market research companies should innovate and integrate a variety of analytical models, including theoretical and practical models, as well as generic and customized models, to meet different analytical purposes and needs. Theoretical models refer to analytical frameworks and logics based on market and consumer theories and assumptions, such as Porter's Five Forces Model, SWOT Analysis, STP Analysis, etc. Practice model refers to the analytical relationship and law based on the actual situation and data of the market and consumers, such as demand curve, price elasticity, consumer behavior model, etc. A generic model is an analytical model that applies to different markets and consumers, such as a marketing mix model, a consumer decision-making process model, a market segmentation model, and so on. Custom models refer to analytical models for specific markets and consumers, such as brand loyalty models, product lifecycle models, market penetration models, etc. Market research companies should innovate and integrate appropriate analytical models based on the objectives and issues of the analysis to ensure the depth and breadth of the analysis.

A typical example of the analytical capabilities of market research companies is the market research services provided by Shangpu Consulting for a leading domestic e-commerce platform. The e-commerce platform wants to understand its competitiveness and development potential in the Chinese market, as well as its performance and opportunities in different market segments and consumer groups, so as to formulate more strategic development plans and goals. Champ Consulting has adopted the following measures of analytical capabilities:

Analysis methods: Champ Consulting uses a variety of analysis methods, including quantitative analysis and qualitative analysis, as well as basic analysis and advanced analysis, to meet different analysis purposes and needs. Quantitative analysis mainly uses regression analysis, cluster analysis, discrimination analysis and other methods to quantify the data measurement and calculation, such as analysis of e-commerce platform market share, growth rate, profit margin and other indicators, as well as e-commerce platform and market environment, competitors, consumer demand and other factors of the relationship and impact. Qualitative analysis mainly uses content analysis, discourse analysis, narrative analysis and other methods to explain and understand the data non-quantitatively, such as analyzing the brand image, product characteristics, service quality and other aspects of the e-commerce platform, as well as the impression, evaluation and emotion of the e-commerce platform in the minds of consumers.

Analytical Models: Champ Consulting innovates and integrates a variety of analytical models, including theoretical and practical models, as well as generic and customized models, to meet different analytical purposes and needs. The theoretical model mainly uses Porter's five-force model, SWOT analysis, STP analysis and other models to construct the analysis framework and logic of the market environment, competitiveness and target market of the e-commerce platform. The practice model mainly uses the demand curve, price elasticity, consumer behavior model and other models, and establishes the analytical relationship and law of the market demand, price strategy and consumer decision-making of the e-commerce platform. The general model mainly uses the marketing combination model, the consumer decision-making process model, the market segmentation model and other models, and analyzes the general laws and methods of the marketing strategy, consumer behavior and market opportunities of the e-commerce platform. The custom model mainly uses the brand loyalty model, product life cycle model, market penetration model and other models, and analyzes the specific situation and methods of the brand strategy, product strategy and development strategy of the e-commerce platform.

The results of the analytical model of Champ Consulting show market insights and recommendations in the following areas:

Market environment analysis of e-commerce platform: Using Porter's five-force model, the market forces faced by e-commerce platform are analyzed in five aspects, such as industry competition, supplier bargaining, buyer bargaining, substitute threat and new entrant threat, and the following is obtained.Conclusion: First, the industry competition of e-commerce platforms is relatively fierce. The main competitors are Alibaba, Jingdong, Pinduoduo, etc., each with different market positioning, product advantages, customer groups, etc., and e-commerce platforms need to improve their competitiveness and Differentiation; second, the suppliers of e-commerce platforms have relatively low bargaining prices, and the main suppliers include manufacturers, wholesalers, and distributors of various commodities, E-commerce platforms can reduce the bargaining power of suppliers by establishing long-term cooperative relationships with suppliers, providing more orders and service quality, etc.; third, the buyers of e-commerce platforms have relatively high bargaining prices, and the main buyers include various products. Consumers, enterprises, institutions, etc., e-commerce platforms need to provide more product choices, price concessions, service guarantees, etc. to reduce the buyer's bargaining power; fourth, the threat of substitutes for e-commerce platforms is relatively high. The main substitutes include physical stores, social e-commerce, live e-commerce, etc. E-commerce platforms need to reduce the attractiveness of substitutes by improving their product quality, functionality, fashion, etc. Fifth, the threat of new entrants to e-commerce platforms is relatively low. The main new entrants include crossovers, entrepreneurs and foreigners from other industries, E-commerce platforms can improve market entry barriers by leveraging their brand influence, market share, and technological innovation.

Analysis of the competitiveness of the e-commerce platform: using SWOT analysis, the analysis of the e-commerce platform has the advantages, disadvantages, opportunities and threats and other four aspects of competitiveness factors, the following.Conclusion: First, the advantage of e-commerce platform is that it has a huge user base, rich product types, efficient logistics and distribution, and perfect after-sales service. These advantages can help e-commerce platform increase market share and satisfaction; second, The disadvantage of e-commerce platform is its lack of clear brand positioning, product differentiation, price competitiveness, localization, etc, these disadvantages can lead to the lack of characteristics and attractiveness of e-commerce platforms in the market; third, the opportunities for e-commerce platforms are that they can take advantage of the growth potential of the market, the diversified needs of consumers, technological innovation and development, policy support and guidance, etc. These opportunities can help e-commerce platforms expand the scale and scope of the market; fourth, the threat of e-commerce platform is that it needs to face the competitive pressure of the market, the brand loyalty of consumers, the regulation and supervision of laws, and the public opinion and influence of the society. These threats can affect the stability and development of the e-commerce platform market.

Target market analysis of e-commerce platform: using STP analysis, the target market factors of market segmentation, target selection and positioning strategy of e-commerce platform are analyzed, and the following are obtained.ConclusionFirst, the market segmentation of e-commerce platform is to divide the market into different market segments according to the geographical, demographic, psychological and behavioral characteristics of consumers, such as first-tier cities, second-tier cities and third-tier cities, population segments such as young people, middle-aged people and the elderly, psychological segments such as fashion, practical and value, and behavioral segments such as high-frequency purchase, low-frequency purchase and repeat purchase; second, the target selection of e-commerce platform is to select the most potential and attractive market segment as the target market according to the market scale, growth rate, competition degree, profit rate and other indicators of different market segments, such as second-tier cities, young people, fashion, high-frequency purchase and other market segments; third, the positioning strategy of e-commerce platform is based on the needs and preferences of consumers in the target market, determine the positioning of the e-commerce platform in terms of brand image, product features, and service advantages, such as positioning as an e-commerce platform that provides fashion, quality, and convenience.

research innovation

Research innovation is the soul of market research, research innovation directly affects the results of market research is novel and interesting. The professional level of market research companies is reflected in their ability to develop, apply and promote a variety of innovative research methods and tools to conduct novel, interesting and effective research on the market and consumers from different angles and levels, so as to extract valuable market insights and suggestions, including the following aspects:

Innovative methods: Market research companies should develop and apply a variety of innovative methods, including traditional and non-traditional methods, as well as active and passive methods, to meet different research purposes and needs. Traditional methods refer to the use of research methods that have been widely recognized and used, such as questionnaires, in-depth interviews, focus groups, etc. Non-traditional methods refer to the use of novel and interesting research methods, such as gamification, storytelling, scenario simulation, etc. Active methods refer to research methods that require the active participation and response of research subjects, such as online surveys, telephone interviews, laboratory tests, etc. Passive methods refer to research methods that do not require the active participation and response of research subjects, such as network tracking, eye tracking, neuroscience, etc. Market research companies should develop and apply appropriate innovative methods based on the objectives and questions of the research to ensure that the research is novel and interesting.

Innovative tools: Market research companies should apply and promote a variety of innovative tools, including software tools and hardware tools, as well as online and offline tools, to meet different research purposes and needs. Software tools refer to software programs that use computers or mobile phones to collect, process, analyze, and present data, such as SPSS, Excel, and PowerPoint. Hardware tools refer to the use of hardware components of devices such as computers or mobile phones to collect, process, analyze, and present data, such as cameras, microphones, and sensors. Online tools refer to the use of platforms such as the Internet or mobile networks to collect, process, analyze, and present data, such as websites, apps, and social media. Offline tools are used to collect, process, analyze, and present data in physical spaces or objects, such as shopping malls, supermarkets, and commodities. Market research companies should apply and promote appropriate innovative tools according to the objectives and problems of the research to ensure the effectiveness and convenience of the research.

A typical example of the research innovation of a market research company is the market research service provided by Shangpu Consulting for an internationally renowned automobile brand. The car brand wants to understand the market potential and consumer demand of its new energy vehicles in the Chinese market, as well as its performance and opportunities in different market segments and consumer groups, so as to formulate more innovative product design and marketing strategies. Champ Consulting has adopted the following innovative research measures:

Innovative Approaches: Champ Consulting uses a variety of innovative approaches, including traditional and non-traditional methods, as well as active and passive methods, to meet different research purposes and needs. The traditional method mainly uses questionnaires and in-depth interviews to collect data on consumers' cognition, attitude and behavior of new energy vehicles. Non-traditional methods mainly use gamification and scenario simulation to collect data on consumers' preferences, needs, and motivations for new energy vehicles. The proactive approach primarily uses online surveys and telephone interviews, collecting data that consumers provide on their own initiative. Passive methods mainly use network tracking and eye tracking to collect hidden data of consumers.

Innovative tools: Champ Consulting uses a variety of innovative tools, including software tools and hardware tools, as well as online and offline tools, to meet different research purposes and needs. Software tools mainly use SPSS and Excel to process and analyze the data. Hardware tools mainly use cameras and microphones to collect and record data. Online tools mainly use websites and APP to collect and present data. Offline tools mainly use cars and models to collect and present data.

The research and innovation results of Shangpu Consulting Company show market insights and suggestions in the following aspects:

Analysis of the market potential of new energy vehicles: Using the gamification method, a game that simulates the purchase and use of new energy vehicles is designed, allowing consumers to choose different car brands, models, colors, configurations, etc. in the game, as well as different The driving route, time, speed, etc., collected data on consumers' preferences and needs for new energy vehicles. The results show that new energy vehicles have great market potential in the Chinese market. Consumers have a high interest and acceptance of new energy vehicles. The main needs and preferences are energy saving, environmental protection, intelligence, and safety.

Consumer demand analysis of new energy vehicles: Using the method of scenario simulation, a scenario that simulates the use scenario of new energy vehicles is designed, allowing consumers to experience different car brands, models, functions, services, etc., as well as different driving situations, problems, solutions, etc., and collect data on consumers' motivations and challenges for new energy vehicles. The results show that the consumer demand of new energy vehicles is more complex and diverse. The motivation of consumers is mainly to improve the quality of life, reflect personality and social responsibility. The challenge of consumers is mainly to worry about the battery life, charging, maintenance and other aspects of the car.

Product design and marketing strategy analysis of new energy vehicles: using the method of network tracking and eye tracking, the data of clicks, residence time and eye movement of consumers when browsing different automobile brands, models, advertisements, comments and other web pages are analyzed, and the data of consumers' attention to new energy vehicles and influencing factors are obtained. The results show that the product design and marketing strategy of new energy vehicles should be:

Product design: Develop new energy vehicles that are more in line with consumer needs and preferences, improve the performance of vehicles in terms of energy saving, environmental protection, intelligence, and safety, and increase the differentiation and personalization of vehicles.

Marketing strategy: Adopt a variety of marketing methods, including advertising, public relations, sales promotion, direct marketing, etc., to increase the exposure and influence of new energy vehicles, stimulate consumers' purchase desire and behavior, and increase the market share of new energy vehicles.