Basic concept, purpose and classification of 1. market research

Market research (Market Research) refers to the process of collecting, analyzing and interpreting market-related information using scientific methods to understand the current situation and future trends of the market, as well as to solve market problems and make market decisions. The main purpose of market research is to provide valuable market insights to help companies understand market demand, competitors, consumer behavior, market opportunities, market risks, etc., so as to formulate reasonable market strategies, product development, marketing strategies, etc.

Market research can be classified according to different criteria, and the common classification methods are as follows:

According to the timeliness of the research, it can be divided into regular research and irregular research. Regular research refers to the regular collection and analysis of market information according to certain time intervals, such as monthly, quarterly, annual, etc. The advantage of regular research is that it can continuously monitor market changes, identify market opportunities and risks in time, and support the long-term planning of enterprises. Irregular research refers to a one-time research on a particular market problem or decision, as needed, such as new product development, new market entry, the emergence of new competitors, etc. The advantage of irregular research is that it can collect and analyze market information in a targeted manner to provide a basis for specific decisions of enterprises.

According to the nature of the data, it can be divided into quantitative research and qualitative research. Quantitative research refers to the use of mathematical and statistical methods to collect and analyze market information that can be quantified, such as market size, market share, consumer satisfaction, consumer preferences and so on. The advantage of quantitative research is that it can provide objective, accurate and comparable market data and provide a quantitative basis for enterprise decision-making. Qualitative research refers to the use of non-mathematical and non-statistical methods to collect and analyze market information that cannot be quantified, such as consumer motivation, consumer attitudes, consumer feelings, market trends and so on. The advantage of qualitative research is that it can provide subjective, in-depth and detailed market insights and provide a qualitative basis for business decisions.

According to the data source of the research, it can be divided into first-hand research and second-hand research. First-hand research refers to the research that collects raw, unprocessed market information directly from the market, such as questionnaires, interviews, observations, etc. The advantage of first-hand research is that it can obtain the latest, most authentic and most relevant market information and provide first-hand data for enterprise decision-making. Second-hand research refers to research collected and organized from existing, processed market information, such as reports, literature, databases, etc. The advantage of second-hand research is that it can save time, cost and resources and provide second-hand data for enterprise decision-making.

The classification of market research is not mutually exclusive, but complementary. In actual market research, it is usually necessary to consider the use of different types of market research methods according to the purpose, content, scope, time, budget and other factors of the research in order to achieve the best market research results.

Common methods of 2. market research

The method of market research refers to the specific ways and techniques of collecting and analyzing market information. There are many methods of market research, and different methods have different characteristics and application occasions. This article will introduce some commonly used market research methods other than questionnaires, such as in-depth interviews, focus groups, observation methods, experimental methods, etc., as well as the advantages and disadvantages of these methods and application cases.

1. In-depth interviews

In-depth interview (In-depth Interview) refers to the market research method of conducting in-depth, unstructured and open dialogue with the research object through one-to-one way to understand the research object's thoughts, feelings, motivations, attitudes, behaviors, etc. The advantage of in-depth interviews is that they can obtain rich, detailed and in-depth market insights, explore the potential needs and problems of research objects, and establish good communication and trust relationships. The disadvantages of in-depth interviews are that they take more time, cost and manpower, require professional interview skills and analytical skills, and pay attention to the representativeness and reliability of the interviewees.

Application case of in-depth interview: Shangpu Consulting provides an in-depth interview service in the Chinese market for an internationally renowned cosmetics brand. The purpose is to understand Chinese consumers' cognition, attitude, preference and purchase behavior of the brand, as well as opinions and suggestions on the brand's products, prices, channels, promotion, etc. Shangpu Consulting conducted in-depth interviews with 100 consumers from different regions, ages, genders, income, education and other backgrounds through the Internet and telephone. Each interview lasted about 60 minutes. The interview covered consumers' personal information, cosmetics usage habits, cosmetics brand selection criteria, cosmetics brand awareness, cosmetics brand satisfaction, cosmetics brand loyalty, cosmetics brand recommend willingness, etc. Champ Consulting transcribed, encoded, and analyzed the recordings of the interviews and came up with the following mainConclusion：

The brand is well-known in the Chinese market, but compared with other internationally renowned cosmetics brands, there is still a certain gap, especially in second-and third-tier cities and young consumer groups, the brand's influence is weak.

The image of the brand in the Chinese market is more traditional, conservative and stable, and there is a certain deviation from the expectations and preferences of consumers. Consumers are more inclined to choose fashionable, innovative and personalized cosmetics brands.

The brand's product quality, effect, safety and other aspects have been recognized and trusted by consumers, but in terms of product types, packaging, functions, etc., consumers believe that the brand lacks innovation and differentiation, and cannot meet the diversification of consumers. And personalized needs.

The price of the brand is relatively high, and consumers think that the cost performance of the brand is not high. Only on special occasions or when there are preferential activities, they will consider buying products of the brand.

The brand's channels are mainly concentrated in high-end places such as department stores and specialty stores. Consumers believe that the brand's channels are not widely covered, inconvenient to purchase, and lack opportunities for interaction and experience.

The promotion of the brand is less, consumers think that the promotion of the brand is not enough, not attractive, and lack of communication and care with consumers.

Based on the aboveConclusion, Champ Consulting made the following recommendations for the brand:

Improve the brand's visibility and influence in the Chinese market, especially in second-and third-tier cities and young consumer groups, by increasing advertising, social media marketing, and word-of-mouth marketing to enhance the brand's exposure and reputation.

Adjust the brand's image in the Chinese market to make it more in line with consumers' expectations and preferences, and increase the brand's sense of fashion, innovation, and personality by improving product packaging, design, and naming.

Strengthen the brand's product innovation and differentiation, so that it can better meet the diverse and personalized needs of consumers, and increase the brand's product competitiveness and attractiveness by developing new product lines, functions, and ingredients.

Optimize the brand's price strategy to better reflect the brand's value and cost-effectiveness, and increase the brand's price competitiveness and consumers' willingness to buy by formulating reasonable pricing, discounts, and bundling.

Expand the brand's channel coverage and channel efficiency to make it more convenient for consumers to purchase and experience, and increase the brand's channel diversity and channel interaction by developing emerging channels such as e-commerce, social e-commerce, and micro-commerce.

Increase the brand's promotional activities and promotional effects, so that it can more stimulate consumer interest and loyalty, through the organization of new product trials, membership activities, holiday activities, points exchange and other ways to increase the brand's promotional efforts and promotional interaction.

Champ Consulting's in-depth interview service provides the brand with valuable market insights and suggestions, helping the brand to better understand the Chinese market and consumers, so as to formulate more appropriate market strategies and marketing strategies.

2. Focus Groups

Focus Group (Focus Group) refers to a market research method that invites a group of 6-12 research objects with certain common characteristics or interests to guide and stimulate the research objects in a relaxed, free, and interactive atmosphere. Discussion to understand the thoughts, feelings, motives, attitudes, and behaviors of the research objects. The advantage of focus groups is that they can gain rich, detailed and in-depth market insights, explore the potential needs and problems of research objects, and use the interaction and influence between research objects to generate new ideas and insights. The disadvantages of focus groups are that they take more time, cost and manpower, require professional moderators and analytical skills, pay attention to the representativeness and reliability of the research subjects, and pay attention to controlling the direction and quality of the discussion.

Application case of focus group: Shangpu Consulting provides focus group services for a well-known domestic e-commerce platform in the Chinese market. The purpose is to understand Chinese consumers' cognition, attitude, preference and use behavior of the platform, as well as opinions and suggestions on the function, interface and service of the platform. Champ Consulting has organized 8 focus groups through online and offline methods. Each focus group is composed of 8 consumers from different regions, ages, genders, incomes, education and other backgrounds. Each focus group lasts about 90 minutes, the content of the focus group covers consumers' personal information, e-commerce usage habits, e-commerce platform selection criteria, e-commerce platform awareness, e-commerce platform satisfaction, e-commerce platform loyalty, e-commerce platform recommend willingness, etc. Champ Consulting transcribed, coded, and analyzed the focus group footage and came up with the following keyConclusion：

The platform is well-known and influential in the Chinese market, and consumers have a positive impression of the platform, believing that the platform is a reliable, professional and convenient e-commerce platform.

The function, interface, service and other aspects of the platform have been recognized and appreciated by consumers. Consumers believe that the platform has complete functions, clear interface and thoughtful service, which can meet the different needs and preferences of consumers.

The platform has a wide range of users, and consumers believe that the platform is suitable for different groups of people, whether young or old, whether male or female, whether urban or rural, you can find what you want on the platform. Goods and services.

The advantages of the platform are mainly reflected in the category, quality, price and so on. Consumers believe that the platform has a rich variety of goods, high quality and reasonable price, and can find cost-effective goods on the platform to meet the different budgets and needs of consumers.

The disadvantages of the platform are mainly reflected in the speed, safety and cost of logistics. Consumers think that the logistics service of the platform is not fast, reliable and cheap, and sometimes there will be problems such as damage, loss and delay of goods, which affect the shopping experience and satisfaction of consumers.

The improvement direction of the platform is mainly to improve the level of logistics services, and increase consumers' shopping convenience and confidence by strengthening the construction of logistics network, improving logistics efficiency and quality, and reducing logistics costs.

Based on the aboveConclusion, Champ Consulting made the following recommendations for the platform:

Maintain the platform's visibility and influence in the Chinese market, and consolidate the platform's market position and user base through continuous brand promotion, word-of-mouth marketing, and social media marketing.

Maintain the advantages of the platform's functions, interfaces, and services, and enhance the platform's user stickiness and loyalty through continuous technological innovation, user experience optimization, and customer service improvement.

Maintain the competitiveness of the platform's commodities in terms of category, quality and price, ensure the quality and safety of the platform's commodities through strict commodity review, screening and recommend, and ensure the cost-effectiveness and attractiveness of the platform's commodities through reasonable pricing, discounts and rebates.

Improve the level of logistics services of the platform, by strengthening the construction of logistics network, improving logistics efficiency and quality, reducing logistics costs and other ways to enhance the platform's logistics service speed, safety, cost and other aspects of performance, improve consumer shopping experience and satisfaction.

The focus group service of Shangpu Consulting provides valuable market insights and suggestions for the platform, helping the platform to better understand the Chinese market and consumers, so as to formulate more appropriate market strategies and operational strategies.