Purpose and content of 1. market research

Market research is the process of collecting, analyzing and interpreting information about the market, customers, competitors and the environment in order to provide a basis for marketing decisions. Market research is the basis for developing pricing strategies and promotional programs because it helps companies understand the current state and potential of the market, identify and meet customer needs and expectations, evaluate and respond to competitors' strategies and behaviors, and take advantage of environmental opportunities and threats.

The purpose of market research is to answer the following questions:

-What are the size, structure, demand, competition and trends of the target market?

-What are the target customer's characteristics, preferences, buying behavior and feedback?

-What is the value, cost and profit of the product?

-What are the competitors' pricing strategies and promotions?

-What are the opportunities and threats to the environment?

In order to answer these questions, the contents of market research mainly include the following aspects:

-Market analysis: Analyze the size, structure, demand, competition and trends of the target market to determine the potential and attractiveness of the market, as well as market segmentation and positioning.

-Customer analysis: Analyze the characteristics, preferences, purchase behavior and feedback of the target customer to determine the customer's needs and expectations, as well as customer satisfaction and loyalty.

-Product analysis: analyze the value, cost and profit of the product to determine the advantages and disadvantages of the product, as well as the life cycle and differentiation of the product.

-Competitor analysis: Analyze competitors' pricing strategies and promotional programs to determine competitors' strengths and weaknesses, as well as competitors' strategic intentions and responsiveness.

-Environmental analysis: analysis of environmental opportunities and threats, including political, legal, economic, social, technological, ecological and other factors to determine environmental impacts and changes.

The purpose and content of market research can be adjusted according to different products, markets and enterprises, but the general principle is to ensure the effectiveness and practicality of market research, that is, the information of market research should be able to reflect the real situation of the market, and can provide useful guidance for marketing decisions.

2. market research methods and tools

Market research methods and tools refer to the means and techniques used to collect, analyze and interpret market information. There are many methods and tools for market research, which can be selected and used according to different purposes and contents. Generally speaking, the methods and tools of market research can be divided into the following categories:

-One-time and continuous research: one-time research refers to one-time market research conducted to solve a specific problem, such as testing of new products, exploration of new markets, etc.; continuous research refers to regular or irregular market research conducted to monitor market changes, such as market share tracking, customer satisfaction measurement, etc.

-Qualitative and quantitative research: Qualitative research refers to the collection and analysis of market information through unstructured methods, which are mainly used to understand the deep-seated motives, attitudes and feelings of the market, such as in-depth interviews, focus groups, observation methods, etc. Quantitative research refers to the collection and analysis of market information through structured methods, which are mainly used to understand the market's table-level data, proportions, relationships, etc, such as questionnaires, experimental methods, statistical analysis, etc.

-Active and passive research: active research refers to the collection of market information by actively asking questions or stimulating the market, such as questionnaires, experimental methods, etc.; passive research refers to the collection of market information by passively receiving information already available in the market, such as observation methods, second-hand data, etc.

The selection and use of market research methods and tools should be determined according to the purpose and content of market research. Generally speaking, market research methods and tools should have the following characteristics:

-Effectiveness: Market research methods and tools should be able to effectively collect and analyze market information, I .e. market information should be able to reflect the true situation of the market, rather than being subject to the subjective influence of the investigator or the investigator.

-Practicality: Market research methods and tools should be able to collect and analyze market information in a practical way, I .e. market information should be able to provide useful guidance for marketing decisions, rather than collecting information just for the purpose of collecting information.

-Economy: The methods and tools of market research should be able to collect and analyze market information economically, I .e. the cost of collecting and analyzing market information should be lower than the value of market information, rather than wasting resources and time.

The selection and use of market research methods and tools should be flexibly combined and changed according to the specific situation to achieve the best results. For example, one-time research and continuous research can complement each other, qualitative research and quantitative research can verify each other, and active research and passive research can refer to each other.

3. how to develop a pricing strategy based on the results of market research

Price strategy refers to the price level and change mode determined by an enterprise for its products or services in the market. Price strategy is an important factor affecting product sales and corporate profits, because price not only reflects the value of the product, but also affects customer demand and the reaction of competitors. Therefore, it is an important task for enterprises to formulate reasonable price strategy, and the result of market research is an important basis for formulating price strategy.

The process of developing a pricing strategy consists of the following steps:

-Determine the value, cost and profit of the product: the value of the product refers to the value of the product to the customer, I .e. the maximum price that the customer is willing to pay for the product. Determining the value, cost and profit of a product can help a company determine the pricing range of the product, I .e. the highest and lowest price of the product, as well as the target profit margin of the product.

-Select pricing method: The pricing method refers to the method used to determine the specific price of the product. There are many pricing methods, which can be selected and used according to different purposes and conditions. In general, pricing methods can be divided into the following categories:

Cost-plus method: Cost-plus method refers to the method of adding a certain profit margin to the cost of the product to determine the price of the product. The advantage of the cost-plus method is that it is simple and easy to implement and can guarantee the profit of the product, but the disadvantage is that it ignores the market demand and competition, which may lead to the price of the product being too high or too low.

Demand-oriented method: Demand-oriented method refers to the method of determining the price of a product according to the demand of the market. The advantage of the demand-oriented approach is that it can adapt to market changes and increase product sales, but the disadvantage is that it is difficult to accurately predict and measure market demand, which may lead to large price fluctuations.

Competition-oriented method: Competition-oriented method refers to the method of determining the price of a product based on the price of a competitor. The advantage of the competition-oriented method is that it can avoid price wars and maintain the market share of the product, but the disadvantage is that it ignores product differentiation, which may lead to a lack of competitiveness in the price of the product.

Penetration pricing: Penetration pricing is a method of determining the price of a product at a price below cost or competitor in order to quickly enter the market and capture market share. The advantage of penetration pricing is that it can attract a large number of customers and create economies of scale, but the disadvantage is that it reduces the profitability of the product and may be countered by competitors.

Skimming pricing: Skimming pricing is a method of determining the price of a product by using prices above cost or competitors in order to take advantage of the elasticity of demand in the market. The advantage of skimming pricing is that it can increase the profit of the product and shape the high-end image of the product, but the disadvantage is that it will limit the sales of the product and may cause customer resentment.

Portfolio pricing: Portfolio pricing is a method of determining the price of a product using different pricing methods based on different products, markets, and customers. The advantage of the combination pricing method is that it can make full use of product differentiation to meet different needs, but the disadvantage is that it will increase the management cost of the product and may lead to product price confusion.

-Use pricing strategy: Pricing strategy refers to the way in which the price changes are used to achieve a specific goal on the basis of determining the specific price of the product. There are many kinds of pricing strategies, which can be selected and used according to different purposes and conditions. In general, pricing strategies can be divided into the following categories:

Single pricing strategy: A single pricing strategy is a strategy that uses the same price for all products, markets, and customers. The advantage of a single pricing strategy is that it is simple and clear and can save costs, but the disadvantage is that it lacks flexibility and may lead to unreasonable prices of products.

Differential pricing strategy: Differential pricing strategy refers to the strategy of using different prices according to different products, markets and customers. The advantage of a differential pricing strategy is that it can take full advantage of product differentiation and can increase profits, but the disadvantage is that it increases complexity and may lead to price discrimination in the product.

Dynamic pricing strategy: Dynamic pricing strategy refers to the use of continuous price adjustment strategy according to market demand and changes in competition. The advantage of dynamic pricing strategy is that it can adapt to changes in the market and can increase sales, but the disadvantage is that it will increase uncertainty and may lead to greater price fluctuations in the product.

Psychological pricing strategy: Psychological pricing strategy refers to the strategy of influencing the customer's price perception according to the customer's psychological feelings and behavioral tendencies. The advantage of psychological pricing strategy is that it can attract the attention of customers and increase the willingness to buy, but the disadvantage is that it will reduce the credibility of the product and may lead to price fraud.

The process of developing a pricing strategy is based on the results of market research, which takes into account factors such as market demand, competition and the environment, as well as customer characteristics, preferences and feedback, in order to develop a pricing strategy that is in line with the market and the customer.

4. how to make a promotion plan according to the results of market research

Promotional programs refer to the various communication and incentive activities and measures taken by an enterprise in the market for its products or services. Promotional program is an important factor affecting product sales and corporate image, because promotional programs can not only convey product information, but also stimulate customer interest and action. Therefore, the development of a reasonable promotion program is an important task of enterprises, and the results of market research is an important basis for the development of promotional programs.

The process of developing a promotional program consists of the following steps:

-Determine the goal, object, content, form, time and budget of promotion: the goal of promotion refers to the effect that the enterprise wants to achieve through the promotion plan, such as improving popularity, increasing sales volume, establishing loyalty, etc. The object of promotion refers to the people that the enterprise wants to influence through the promotion plan, such as potential customers, existing customers, middlemen, etc. The content of promotion refers to the information that the enterprise wants to transmit through the promotion plan, such as product characteristics, advantages, prices, etc.; The form of promotion refers to the way the enterprise wants to adopt through the promotion plan, such as advertising, public relations, sales promotion, etc. The promotion time refers to the time period that the enterprise wants to implement through the promotion plan, such as seasons, festivals, events, etc. The promotion budget refers to the resources that the enterprise wants to invest through the promotion plan, such as capital, manpower, material resources, etc. Determining the goal, object, content, form, time and budget of the promotion can help enterprises to develop a promotion plan that meets the market and customers, as well as evaluate the effectiveness and cost of the promotion plan.

-Selection of promotional tools: promotional tools refer to the specific means and techniques used to implement promotional programs. There are many kinds of promotion tools, which can be selected and used according to different purposes and conditions. In general, promotional tools can be divided into the following categories:

Advertising: Advertising is the activity of publishing impersonal information about a product or service in a variety of media for a fee. The advantage of advertising is that it can widely disseminate information and increase visibility, but the disadvantage is that it is costly and may cause customer resistance.

PR: PR refers to the activity of publishing non-personal information about a product or service in various media on a pro bono basis. The advantage of public relations is that it can improve credibility and build an image, but the disadvantage is that it is difficult to control and may cause negative reactions.

Sales promotion: Sales promotion refers to activities that stimulate customers' buying behavior by providing some short-term incentives, such as discounts, gifts, coupons, etc. The advantage of sales promotion is that it can increase sales and clear inventory, but the disadvantage is that it will reduce profits and may affect the value of the brand.

Direct marketing: Direct marketing refers to the activities of communicating information and promoting transactions through direct communication with customers, such as telephone, mail, and the Internet. The advantage of direct marketing is that it can serve customers in a personalized manner, which can increase loyalty, but the disadvantage is that it will increase costs and may disturb customers' lives.

Personal sales: Personal sales refers to the activities of introducing and recommend products or services to customers through face-to-face means, such as visits, presentations, negotiations, etc. The advantage of personal sales is that it can effectively persuade customers and increase trust, but the disadvantage is that it will consume time and may be rejected.

Internet marketing: Internet marketing refers to the activities of information exchange and transactions through the use of the Internet, such as websites, social media, e-commerce, etc. The advantage of network marketing is that it can easily contact customers and reduce costs, but the disadvantage is that it will face competition and may be threatened by security.

-Use promotion strategy: Promotion strategy refers to the combination and coordination of promotion tools used to achieve specific goals based on the selection of promotion tools. There are many kinds of promotion strategies, which can be selected and used according to different purposes and conditions. In general, promotional strategies can be divided into the following categories:

Promotion strategy: A promotion strategy is a strategy that encourages intermediaries to sell products or services to customers by providing them with incentives, such as discounts, incentives, support, etc. The advantage of the push strategy is that it can use the resources of intermediaries to expand distribution, but the disadvantage is that it reduces control and may lead to conflict.

Pull strategy: Pull strategy refers to the strategy of providing customers with incentives, such as advertising, public relations, sales promotion, etc., to induce customers to ask for products or services from intermediaries. The advantage of the pull strategy is that it can directly affect customers and increase demand, but the disadvantage is that it will increase costs and may cause inventory problems.

Comprehensive strategy: comprehensive strategy refers to the use of push strategy and pull strategy at the same time, in order to achieve the best effect of the strategy. The advantage of a comprehensive strategy is that it can give full play to the advantages of promotional tools and achieve synergies, but the disadvantage is that it will increase complexity and may lead to repeated investment.

The process of developing a promotional program is based on the results of market research, I .e., taking into account factors such as market demand, competition and the environment, as well as customer characteristics, preferences and feedback, in order to develop a promotional program that is in line with the market and the customer.

Case Analysis of 5. Shangpu Consulting Company

Shangpu Consulting is a company specializing in market research and marketing consulting, providing customized solutions for customers in all walks of life. The services of Shangpu Consulting Company cover market research, price strategy, promotion plan and other aspects to help customers improve market competitiveness and marketing efficiency. The following are specific examples of some of the clients served by Champ Consulting to illustrate the process and effectiveness of how to develop a reasonable pricing strategy and promotional program through market research.

-Case 1: A company that produces and sells household appliances wants to launch a new smart air purifier to occupy the market. Champ Consulting provided the following services to the business:

Market Research: Through questionnaires, in-depth interviews, observation methods, etc., Sunp Consulting conducted a comprehensive analysis of the target market and target customers, including factors such as market size, structure, demand, competition and environment, as well as customer characteristics, preferences and feedback, and concluded that the followingConclusion：

Market demand: The market demand for air purifiers is growing, especially in cities with severe smog. Consumers are paying more and more attention to air quality, and the requirements for the function and performance of air purifiers are getting higher and higher.

Target customers: The target customers are mainly middle and high-income urban families. They have strong health awareness and consumption ability, and have higher requirements for the brand, technology and design of air purifiers. At the same time, they also pay attention to the cost performance and after-sales service of products.

Competitors: There are mainly two types of competitors. One is internationally renowned brands, such as Philips, Panasonic, Sharp, etc., they have strong technical advantages and brand influence in the field of air purifiers, but the price is higher and the channels are less; The other is domestic local brands, such as Midea, Gree, Xiaomi, etc., which have greater advantages in terms of price and channels, but the technology and brand are weaker.

-Price strategy: Based on the results of market research, Champ Consulting recommends the following price strategy for the company:

The penetration pricing method is used to enter the market at a price lower than that of competitors, with the aim of accelerating market growth in the short term, sacrificing high gross profit in order to obtain higher sales volume and market share, thus generating scale effect and brand effect.

The use of differential pricing, that is, according to different product features, quality and services, as well as different market areas, channels and customers, to set different prices to meet different needs and preferences, but also to improve profit margins.

The use of psychological pricing, that is, according to the customer's psychological feelings and behavioral tendencies, the use of some psychological pricing techniques, such as odd pricing, bundled pricing, reference pricing, etc., to influence the customer's price perception and willingness to buy.

-Promotion plan: According to the results of market research, Shangpu Consulting Company recommends the following promotion plan for the enterprise:

The use of advertising and public relations, through a variety of media, such as television, newspapers, magazines, the Internet, outdoor, etc., to release information about new products, highlighting its intelligent, efficient, environmentally friendly and other characteristics, to improve the visibility and reputation of products, but also the use of some public welfare activities, such as afforestation, air purification, etc., to establish the image of corporate social responsibility, increase the credibility of products.

The use of sales promotion, by providing some short-term incentives, such as discounts, gifts, coupons, etc., to stimulate customer buying behavior, but also the use of some promotional activities, such as trial, display, lottery, etc., to increase the product experience and fun.

The use of direct marketing, through direct communication with customers, such as telephone, mail, network, etc., to transmit information and promote transactions, but also the use of some customer relationship management means, such as return visits, questionnaires, suggestions, etc., to collect customer feedback and suggestions, improve customer satisfaction and loyalty.

The use of personal sales, through face-to-face methods, such as visits, demonstrations, negotiations, etc., to introduce and recommend products to customers, but also the use of some sales skills, such as questions, listening, resolving objections, etc., to effectively persuade customers, increase customer trust and recognition.

-Evaluation of effectiveness: In order to evaluate the effectiveness of pricing strategies and promotional programmes, Champ Consulting recommends the following evaluation methods for the company:

The use of sales analysis, that is, by collecting and analyzing sales data, such as sales volume, sales, market share, profit margin, etc., to measure the impact of price strategies and promotional programs on sales performance, but also to consider the impact of other factors, such as seasons, competition, costs, etc., in order to make reasonable comparisons and adjustments.

Using the experimental method, that is, by designing and implementing some controlled experiments, such as testing the market, group comparison, causal analysis, etc., to test the impact of different price strategies and promotional programs on customer behavior, but also to control the impact of other variables, such as products, channels, advertising, etc., in order to get effective results and.Conclusion。

The survey method is adopted, that is, through the design and implementation of some questionnaires, in-depth interviews, focus groups, etc., to collect and analyze customer feedback and evaluation, such as awareness, awareness, attitude, satisfaction, loyalty, etc., to evaluate the impact of price strategy and promotion plan on customer psychology, but also pay attention to the representativeness and effectiveness of the sample, in order to obtain reliable data and opinions.