Definition and significance of 1. market research

Market research refers to the process of collecting, collating, analyzing and interpreting market-related information to help companies understand the current situation and trends of the market, discover market opportunities and problems, and formulate and evaluate market strategies.

The main purpose of market research is to provide information support for enterprises' market decision-making, to help enterprises better meet the needs of the market and consumers, and to improve market performance and competitive advantage.

The significance of market research is mainly reflected in the following aspects:

Market research can help enterprises understand the scale, structure, characteristics, changes and potential of the market, and provide a basis for market positioning, target selection, market division and segmentation;

Market research can help companies understand consumers' needs, preferences, behaviors, motivations and satisfaction, and provide guidance for their product development, pricing strategies, promotional activities and service quality;

Market research can help enterprises understand the strategy, advantages, disadvantages, actions and reactions of competitors, and provide reference for enterprise's competitive analysis, competitive strategy, competitive advantage and crisis response;

Market research can help companies understand the opportunities and threats of the market environment, such as the impact of political, economic, social, technological, legal and cultural factors, and provide support for market opportunity identification, market risk assessment, market adaptation and innovation;

Market research can help enterprises understand the implementation and effect of market strategy, such as market share, market share, market growth rate, market profit margin, market satisfaction and market loyalty and other indicators of changes, for the enterprise's market strategy evaluation, market strategy adjustment, market strategy optimization to provide the basis.

Problem identification for 2. market research firms

A market research company is an institution that specializes in market research services, providing enterprises with a full range of services such as the design, implementation, analysis and reporting of market research.

The main customers of market research companies are enterprises that need to conduct market research, such as manufacturing, service, retail, wholesale, financial, education, medical and other industries.

In the process of providing market research services, market research companies will also face some problems and challenges, which may come from customers, data, methods, technology, personnel, competition, etc., as follows:

Diversity of customer needs. The customers of market research companies come from different industries, sizes, regions and cultures, and their requirements and expectations for the purpose, content, scope, depth, time, cost, etc. of market research are not the same, and sometimes there are unclear, unreasonable, inconsistent or infeasible needs.

How market research companies accurately understand and meet customer needs is the key to market research services;

Quality and security of data. The data of market research is the foundation and core of market research, and the quality and safety of data directly affect the validity and credibility of market research.

How to ensure the accuracy, completeness, timeliness, relevance and comparability of data, and how to prevent data leakage, tampering, damage and loss are the difficulties of market research services;

Innovation and effectiveness of survey methods. The method of market research is the tool and means of market research, and the innovation and effectiveness of the survey method directly affect the efficiency and effectiveness of market research.

How market research companies choose or design appropriate survey methods according to different survey purposes, objects, environments and conditions, and how to use new technologies and platforms to improve the flexibility and practicality of survey methods are the highlights of market research services;

Technology updates and applications. The technology of market research is the support and guarantee of market research, and the update and application of technology directly affect the level and competitiveness of market research.

How do market research companies follow up and master new technologies and new trends in the field of market research, such as the Internet, big data, artificial intelligence, blockchain, etc., and how to effectively apply these technologies to all aspects of market research is the forefront of market research services;

The quality and ability of personnel. Market research personnel are the executors and promoters of market research, and the quality and ability of personnel directly affect the quality and efficiency of market research. How market research companies train and retain market research personnel with professional knowledge, skills, experience and quality, and how to stimulate and mobilize their enthusiasm and creativity, is the guarantee of market research services;

Competitive pressures and opportunities. Competition in market research is the driving force and challenge of market research, and the pressure and opportunity of competition directly affect the development and innovation of market research. How market research companies analyze and respond to competitors from the same industry, cross-industry, domestic and foreign, and how to grasp and take advantage of new opportunities and new demands in the field of market research are the driving force of market research services.

Solutions for 3. market research companies

In view of the problems and challenges faced by market research companies, this paper takes Shangpu Consulting as an example and puts forward the following solutions:

Clarify the purpose of the investigation. The purpose of market research is the starting point and destination of market research, and defining the purpose of the survey is the first step in market research services. When accepting customers' market research needs, Shangpu Consulting will fully communicate and negotiate with customers to understand their market background, market problems, market objectives and market expectations, so as to determine the purpose and scope of market research and avoid situations where the purpose is unclear, unreasonable, inconsistent or infeasible. For example, Champ Consulting provided market research services for an automaker that wanted to understand the needs and preferences of car consumers in the Chinese market in order to position and price its newly launched electric vehicles. Through communication with customers, Shangpu Consulting has made it clear that the purpose of market research is to analyze the characteristics, behavior, motivation and satisfaction of automobile consumers in the Chinese market, as well as the market potential and competitive situation of electric vehicles. to provide information support and suggestions for customers' market strategies.

Select the appropriate survey method. The method of market research is the tool and means of market research, and choosing the appropriate survey method is the second step of market research service. After determining the purpose and scope of the market survey, Champ Consulting will select or design appropriate survey methods, including qualitative and quantitative survey methods, such as interviews, questionnaires, observations, experiments, and literature analysis, according to different survey subjects, environments and conditions. According to the purpose and requirements of the market survey, the Shangpu Consulting will consider the advantages and disadvantages of the survey method, cost, time, effect and other factors, choose the most suitable survey method, or use a combination of multiple survey methods to improve the effectiveness of the survey And efficiency. For example, Champ Consulting provided market research services for a restaurant chain that wanted to understand its brand image and customer loyalty in the Chinese market, as well as how to improve its market share and profit margins. By using a combination of interviews and questionnaires, Champ Consulting conducted an in-depth survey of the management, employees, customers and competitors of the restaurant chain, and collected a large amount of qualitative and quantitative data to provide customers with a comprehensive analysis and recommendations on their market strategies.

Ensure the quality and security of data. The data of market research is the foundation and core of market research, and ensuring the quality and safety of data is the third step of market research service. In the process of implementing market research, Shangpu Consulting will take a series of measures to ensure the accuracy, completeness, timeliness, relevance and comparability of data, such as formulating strict data collection, sorting, storage and transmission. Specifications and processes, effective cleaning, verification, classification and encryption of data, use reliable data sources and data tools, and avoid data errors, omissions, duplication and invalidation, improve the quality and credibility of your data. At the same time, Champ Consulting will also take a series of measures to ensure the security of the data, such as complying with relevant data protection laws and regulations, respecting the rights and obligations of the owners and users of the data, and effectively keeping the data confidential. Authorization and backup to prevent data leakage, tampering, damage and loss, and protect the safety and integrity of data. For example, Champ Consulting provided market research services for an e-commerce platform that wanted to understand its user behavior and user satisfaction in the Chinese market, as well as how to improve its user loyalty and conversion rates. By using technologies such as the Internet, big data and artificial intelligence, Shangpu Consulting has efficiently collected, analyzed and processed the user data of the e-commerce platform. At the same time, it has also strictly protected and managed the user data, providing accurate information and suggestions for the customer's market strategy.

Utilize data analysis and visualization tools. Data analysis and visualization of market research is an important part of market research, and the use of data analysis and visualization tools is the fourth step of market research services. After collecting and organizing the market research data, Shangpu Consulting will use a variety of data analysis and visualization tools to effectively count, describe, infer, predict and optimize the data in order to discover the laws, trends, relationships and values of the data for the market research.Conclusionand recommendations to provide the basis and support. At the same time, Champ Consulting will also use a variety of data analysis and visualization tools to effectively display, interpret, compare and evaluate the data to improve the readability, understandability, comparability and evaluability of the data, and to facilitate and effect the reporting and communication of market research. For example, Champu Consulting provided market research services for a travel service provider who wanted to understand the market demand and market competition for its travel products and services in the Chinese market, as well as how to increase its market share and brand awareness. Through the use of various data analysis and visualization tools, Shangpu Consulting conducted in-depth analysis and display of the market data of the travel service provider, providing strong evidence and suggestions for the client's market strategy.

Provide professional investigation reports and recommendations. Market research reports and recommendations are the final result of market research, and providing professional survey reports and recommendations is the fifth step of market research services. After completing the data analysis and visualization of the market survey, Shangpu Consulting will provide professional survey reports and suggestions according to the needs and expectations of customers, including the purpose, method, process, results,Conclusionand recommendations, as well as the limitations, deficiencies and improvements of the survey to help customers understand the full picture and details of the market survey and provide reference and basis for their market decisions. At the same time, Shangpu Consulting will also modify and improve the survey report and recommendations based on customer feedback and evaluation to improve customer satisfaction and trust, and provide guarantee and support for customer market success. For example, Champu Consulting provided market research services for an educational institution that wanted to understand the market demand and market competition for its educational products and services in the Chinese market, as well as how to increase its market share and brand awareness. Champ Consulting provides strong evidence and suggestions for the client's market strategy by providing professional investigation reports and suggestions.

4. epilogue

Market research is an important means for enterprises to carry out market analysis, formulate market strategies and evaluate market effects, and is also the core business of market research companies. In the process of providing market research services, market research companies will also face some problems and challenges, such as the diversity of customer needs, the quality and security of data, and the innovation and effectiveness of survey methods. Taking Shangpu Consulting as an example, this paper introduces the problem identification and solution of the market research company, including how to clarify the purpose of the survey, choose the appropriate survey method, ensure the quality and safety of the data, use data analysis and visualization tools, and provide professional Survey reports and suggestions. The purpose of this paper is to provide some reference and reference for market research companies to help them improve the quality and efficiency of market research and enhance their market competitiveness.