The Importance of 1. Market Research

Market research refers to the use of scientific methods, purposefully and systematically collect, record, organize and analyze the market situation, understand the current situation of the market and its development trend, and provide an objective and correct basis for the decision makers of enterprises to formulate policies, make market forecasts, make business decisions and make plans. The importance of market research is mainly reflected in the following aspects:

(1) Market research can help companies understand market needs and meet consumer needs and expectations. Market demand is the potential or actual demand for a product or service in the market. Market demand is the basis for the survival and development of enterprises. Only by understanding the scale, structure, characteristics, changes and influencing factors of market demand can we provide products or services that meet market demand, meet the needs and expectations of consumers, and gain market recognition and support. Market research can collect and analyze consumer demand, preference, satisfaction, loyalty and other information through various ways, such as questionnaires, interviews, observations, experiments, etc., to provide reference for product development, pricing, distribution, promotion, etc.

(2) Market research can help companies understand market competition and improve their competitiveness and market share. Market competition refers to the competition between different enterprises or products in the market in order to compete for market resources and consumer choice. Market competition is the challenge and pressure faced by enterprises. Only by understanding the situation, intensity, strategy and trend of market competition can we formulate effective competition strategies and improve the competitiveness and market share of enterprises. Market research can collect and analyze competitors' background, strengths, weaknesses, strategies, behaviors, performance and other information through various methods, such as literature analysis, industry reports, expert interviews, and web searches, to provide a basis for competitive analysis, positioning, and differentiation.

(3) Market research can help companies understand market trends and grasp market opportunities and challenges. Market trend refers to the regularity or tendency of a phenomenon or change in the market in a certain period of time. Market trend is the direction and driving force of enterprise development. Only by understanding the content, direction, speed and influence of market trend can we grasp market opportunities and challenges and formulate reasonable development goals and strategies. Market research can collect and analyze historical, current and future data of the market through various means, such as statistical analysis, forecasting models, expert judgment, scenario analysis, etc., to support market forecasting, planning, innovation, etc.

Types of 2. Market Research

The types of market research can be divided according to different standards, the common classification criteria are the following:

(1) According to the purpose of market research, it can be divided into exploratory research, descriptive research and causal research. Exploratory research is research conducted to understand the nature, scope and causes of market problems, to find solutions to market problems, or to provide a basis for subsequent research. Exploratory research is characterized by flexible, open, qualitative, commonly used methods such as literature analysis, case analysis, expert interviews, focus groups. Descriptive research refers to research conducted to describe the current situation, characteristics, patterns and relationships of the market. Descriptive research is characterized by systematic, standardized, quantitative, commonly used methods such as questionnaires, observations, experiments. Causal research is research conducted to explore the causal relationship between market variables. Causality research is characterized by rigorous, scientific, empirical, commonly used methods are experimental, regression analysis, structural equation modeling and so on.

(2) According to the object of market research, it can be divided into product research, price research, channel research and promotion research. Product research refers to the research conducted in order to understand the supply and demand of products in the market, evaluate the performance, quality, image and satisfaction of products, and provide the basis for product development, improvement, innovation and positioning. Price research refers to the research conducted in order to understand the price level, structure, elasticity, etc. in the market, to assess the impact of prices on the psychology and behavior of consumers, and to provide a basis for price formulation, adjustment, strategy and competition. Channel research refers to the research conducted to understand the type, quantity, distribution and efficiency of channels in the market, to evaluate the role of channels in the circulation and sales of products, and to provide a basis for channel selection, construction, management and optimization. Promotion research refers to the research conducted in order to understand the promotion methods, effects, costs, etc. in the market, evaluate the role of promotion in attracting and motivating consumers, and provide a basis for the design, implementation, evaluation and improvement of promotion.

(3) According to the scope of market research, it can be divided into macro research, meso research and micro research. Macro research refers to the research conducted to understand the overall situation and development trend of the market and to provide macro perspective and guidance for the strategic planning and decision-making of enterprises. The objects of macro research include the country's political, economic, social, cultural, legal, technical and other factors, as well as the size, growth, structure, distribution and other characteristics of the market. The methods of macro research include macroeconomic analysis, market potential analysis, market demand analysis, market environment analysis and so on. Meso research refers to the research conducted in order to understand the industry situation and development trend of the market, and to provide a meso perspective and basis for the competitive analysis and strategic choice of enterprises. The objects of the meso survey include the history, current situation, future, structure, competition, norms and other factors of the industry, as well as the opportunities and threats of the industry. The methods of meso research include industry analysis, competitive analysis, Porter's five forces analysis, SWOT analysis, etc. Micro-research refers to the research conducted to understand the consumer situation and behavior characteristics of the market, and to provide micro-perspective and support for the product strategy and marketing strategy of enterprises. The objects of micro-research include consumer characteristics, needs, preferences, satisfaction, loyalty, purchase behavior, consumer behavior and other factors, as well as consumer psychology and motivation. The methods of micro-research include consumer analysis, market segmentation, target market selection, market positioning, product positioning, etc.

3. market research process

The process of market research refers to the various stages and steps of market research, which generally include the following stages:

(1) Determine the purpose and problems of market research. This is the starting point and core of market research, which refers to the clear theme, scope, objectives and problems of market research, and provides direction and basis for the follow-up stage of market research. Methods for determining the purpose and problem of market research include communicating with decision makers, analyzing the background and impact of market problems, and defining key variables and assumptions about market problems.

(2) design of market research programs and methods. This is the key and difficult point of market research, which refers to the selection of appropriate types of market research, data sources, data collection methods, data analysis methods, data presentation methods, etc. according to the purpose and problems of market research to provide plans and tools for the implementation phase of market research. The methods of designing market research programs and methods include assessing the feasibility, effectiveness, efficiency and cost of market research, and determining market research samples, indicators, questionnaires, and experiments.

(3) the implementation of market research data collection and analysis. This is the practice and focus of market research, which refers to the collection and collation of relevant data from the market in accordance with the plans and methods of market research, and the use of corresponding data analysis methods to process and interpret the data, so as to provide basis and support for the results stage of market research. The methods of data collection and analysis of market research include the implementation of market research procedures, monitoring the quality and progress of market research, testing the validity and reliability of data, and the use of statistical analysis, predictive analysis, causal analysis and other methods.

(4) Present the results and recommendations of market research. This is the end point and importance of market research, which refers to the collection and analysis of market research data, summarizing and summarizing the main findings of market research andConclusionPut forward the significance and value of market research, give suggestions and suggestions for market research, and provide reference and basis for decision-makers. The methods of presenting market research results and recommendations include writing market research reports, making market research charts, showing market research presentations, and communicating market research feedback.

4. methods of market research

The method of market research refers to the specific techniques and means of market research, including data collection methods and data analysis methods.

(1) Data collection methods. Data collection method refers to the method of obtaining relevant information from the market, which is mainly divided into one-time data collection method and secondary data collection method. One-time data collection methods refer to data collection methods specially designed and implemented to solve specific market problems, such as questionnaires, interviews, observations, experiments, etc. The advantages of one-time data collection method are strong pertinence, high controllability and good timeliness, but the disadvantages are high cost, long time and great difficulty. Secondary data collection methods are methods that use existing data for market research, such as literature analysis, industry reports, and web searches. The advantages of the secondary data collection method are low cost, short time and good convenience, while the disadvantages are weak correlation, low reliability and poor timeliness.

(2) Data analysis methods. Data analysis methods refer to the methods of processing and interpreting the collected data, which are mainly divided into descriptive analysis methods and inferential analysis methods. Descriptive analysis methods refer to methods that describe and summarize the basic characteristics and distribution of data, such as frequency analysis, percentage analysis, mean analysis, standard deviation analysis, etc. The advantages of descriptive analysis methods are simple, intuitive and clear, and broad-based, while the disadvantages are low information, shallow depth, and inability to infer. Inferential analysis methods are methods that infer and validate the relationships and effects of data, such as correlation analysis, regression analysis, factor analysis, and cluster analysis. The advantage of inferential analysis method is that it is informative, deep and able to infer, but the disadvantage is that it is complex and difficult to understand, the conditions are harsh and the error exists.

5. market research forecasts

The prediction of market research refers to the process of predicting and evaluating the future changes and risks of the market by using the results of market research, which is one of the important purposes and applications of market research. The forecasting methods of market research are mainly divided into qualitative forecasting methods and quantitative forecasting methods.

(1) Qualitative forecasting methods. Qualitative forecasting methods refer to methods that predict future changes and risks in the market based on subjective human judgment and experience, such as expert judgment, Delphi, and scenario analysis. The advantages of qualitative prediction methods are flexibility, adaptability, and the ability to consider uncertain factors, while the disadvantages are subjectivity, low accuracy and difficult to quantify.

(2) Quantitative prediction methods. Quantitative prediction methods refer to methods that predict future changes and risks in the market based on mathematical models and statistics, such as time series analysis, regression analysis, gray prediction, etc. The advantages of quantitative prediction method are strong objectivity, high accuracy and easy to quantify, but the disadvantages are rigid single, poor adaptability and difficult to consider uncertain factors.

6. case of market research

The case of market research is an example of the specific application and value of market research in practice, and the following are some of the cases of Champ Consulting:

(1) Conduct market research and forecasting for an automobile manufacturer. The automaker plans to launch a new electric vehicle in the Chinese market and needs to understand the needs, competition, trends and opportunities in the Chinese market, as well as future market changes and risks. Champ Consulting conducted the following market research and forecasts for the automaker:

-Through questionnaires and interviews, this paper collects the information of consumers' cognition, attitude, preference and purchase intention of electric vehicles in the Chinese market, analyzes the characteristics and influencing factors of consumers' demand, and provides reference for product positioning and design.

-Through literature analysis and industry reports, the supply status, price level, sales, market share and other information of electric vehicles in the Chinese market are collected, and the competitive landscape and competitive strategies of electric vehicles are analyzed to provide a basis for product pricing and distribution.

-Through statistical analysis and prediction model, the development history, current situation and future data of electric vehicles in the Chinese market are collected, the market trend and market potential of electric vehicles are analyzed, and the product planning and innovation are supported.

-Through expert judgment and scenario analysis, the policy, technology, environment and other factors of electric vehicles in the Chinese market are collected, the market opportunities and market risks of electric vehicles are analyzed, and suggestions are provided for product risk management and response.

The market research and forecast of Shangpu Consulting Company helped the automaker understand the current situation and future of the Chinese market, formulated an effective market strategy, and successfully launched new electric vehicles in the Chinese market, which achieved good market response and performance.

(2) Conduct market research and forecast for a restaurant chain. The restaurant chain operates multiple brands and types of restaurants and needs to understand the needs, competition, trends and opportunities in each market, as well as future market changes and risks. Champu Consulting conducted the following market research and forecasts for the restaurant chain:

-Through observation and experiment, the information of consumer demand, satisfaction and loyalty of catering service in various markets is collected, and the behavior characteristics and influencing factors of consumers are analyzed, which provides reference for the improvement and optimization of service.

-Through network search and competition analysis, the background, advantages, disadvantages, strategies, behaviors and other information of catering enterprises in various markets are collected, and the competition pattern and strategy of catering industry are analyzed to provide the basis for brand positioning and differentiation.

-Through regression analysis and forecasting models, we collected data on the history, current situation and future of the catering industry in each market, analyzed the market trends and market potential of the catering industry, and supported the expansion and innovation of the business.

-Through expert judgment and scenario analysis, we collected the policy, technology, environment and other factors of the catering industry in each market, analyzed the market opportunities and market risks of the catering industry, and provided suggestions for business risk management and response.

The market research and forecast of Shangpu Consulting Company helped the catering chain enterprise understand the current situation and future of each market, formulate effective business strategies, successfully enhance the brand image and market share in each market, and obtain good market response and performance.