Definition and Significance of Market Research

Market research refers to the activities of collecting, sorting, analyzing and interpreting market-related information to provide the basis and guidance for the market decision-making of enterprises. The objects of market research include market size, structure, trends, opportunities, threats, competitors, consumers, channels, policies, regulations, etc. The purpose of market research is to help enterprises understand the current situation and future development of the market, evaluate their own strengths and weaknesses, formulate appropriate market strategies, and improve market performance and competitiveness.

Market research is of great significance to the development of enterprises. First of all, market research can help companies discover the needs and potential of the market, and provide direction and inspiration for product development and innovation. Secondly, market research can help companies understand the competitive situation of the market and consumer preferences, and provide the basis and support for product positioning and differentiation. Third, market research can help companies assess market risks and opportunities and provide strategies and recommendations for product promotion and sales. Finally, market research can help companies monitor market changes and feedback, and provide data and information for product improvement and optimization.

New Roles of Market Research: Mover, Media and Consultant

Market research is a complex process involving multi-party participation and collaboration. With the change of market environment and the development of technology, the method, content and purpose of market research are constantly evolving. In this process, market research participants have also played new roles, namely, the manager, the media and the consultant. The following will analyze the characteristics and requirements of the new role of market research from these three perspectives.

Principal

The manager refers to the initiator and decision maker of market research, usually the senior manager of the enterprise or the head of the marketing department. The main responsibilities of the manager are to determine the objectives, scope, methodology, budget, time and personnel of the market research, and to develop and implement market strategies based on the results of the market research. The new role of the manager in market research has the following aspects:

The manager needs to have clear goals. The goal of market research refers to the specific problems and expected results of market research, which determines the direction and focus of market research. The manager needs to clarify the objectives of market research according to the strategic objectives and market conditions of the enterprise, and avoid vague, overly broad or unrealistic objectives. The manager also needs to communicate and negotiate the objectives of the market research with the executors and supporters of the market research to ensure the consistency and feasibility of the objectives.

The manager needs to have a reasonable budget. The budget for market research is an estimate of the costs and benefits of market research, which determines the size and quality of market research. The manager needs to allocate the resources of market research reasonably according to the objectives, methods, scope and time of market research, so as to avoid excessive or insufficient investment. The manager also needs to consult and monitor the budget of market research with the implementers and supporters of market research to ensure that the budget is reasonable and effective.

The manager needs to have effective communication. Market research communication refers to the exchange of information and coordination of opinions between market research participants, which determines the smooth and successful market research. The manager needs to maintain good communication with the market research executors and supporters to communicate the objectives, budget, progress and feedback of the market research in a timely manner to avoid delays, distortions or conflicts of information. The manager also needs to establish a good relationship with the disseminators and influences of market research, actively accept the results and suggestions of market research, and avoid conflict, denial or neglect.

The manager needs to be flexible. The adaptability of market research refers to the adaptation and adjustment of market research participants to the changes of market environment and the results of market research, which determines the effect and value of market research. The manager needs to flexibly adjust the objectives, budget, methods and time of market research according to the changes in the market environment and the results of market research, so as to avoid stubbornness, rigidity or blindness. The manager also needs to be flexible in developing and implementing market strategies based on the results of market research to avoid delays, hesitation or waste.

Media

Media refers to the disseminators and influencers of market research, usually the Internet, social media, news media, industry media, etc. The main responsibility of the media is to publish, disseminate and comment on market-related information, and to provide data, opinions and feedback to market research participants.

The new role of the media in market research has the following aspects:

Media need to have professional technology. The technology of market research refers to the tools and methods of data collection, processing, analysis and display of market research, which determines the effectiveness and accuracy of market research. The media needs to use advanced technologies such as the Internet, big data, and artificial intelligence to quickly obtain, integrate, mine and present market-related information to avoid outdated, one-sided or wrong information. The media also needs to use innovative technologies such as multimedia, interaction, and visualization to vividly display, disseminate and comment on market-related information to avoid boring, single or boring information.

The media needs innovative content. The content of market research refers to the expression and communication of market research data, opinions and suggestions, which determines the attractiveness and influence of market research. The media needs to create, select and recommend market-related information based on market needs and trends to avoid duplication, irrelevant or useless information. The media also needs to design, arrange and edit market-related information according to the interests and preferences of the audience, avoiding boring, disorderly or illogical information.

The media needs to be impartial. The attitude of market research refers to the views and evaluation of market research participants on market-related information, which determines the trust and credibility of market research. The media needs to follow the principles and norms of market research, objectively publish, disseminate and comment on market-related information, and avoid biased, misleading or fabricated information. The media also need to respect the rights and obligations of market research participants, honestly reflect, communicate and respond to market-related information, and avoid concealing, smearing or attacking information.

The media needs to have a good reputation. The reputation of market research refers to the image and position of market research participants in the market, which determines the scope and continuity of market research. The media needs to build and maintain the trust and support of market research participants by providing high-quality, high-value, and efficient market-related information to avoid losing, reducing or destroying their reputation. The media also needs to strengthen and expand the relationship and network of market research participants through cooperation and interaction with market research participants, so as to avoid isolation, opposition or conflict reputation.

Consultant

Consultants are market research executives and supporters, usually market research institutions, consulting firms, experts and scholars. The main responsibility of the consultant is to collect, analyze and interpret market-related information using appropriate methods and techniques in accordance with the objectives and budget of the market research, and to provide data, analysis and recommendations to the initiators and decision makers of the market research. The new role of consultants in market research has the following aspects:

Consultants need to have extensive experience. Market research experience refers to the knowledge and skills accumulated by market research participants in the process of market research, which determines the professionalism and reliability of market research. Consultants need to have the relevant theoretical and practical knowledge of market research, familiar with market research methods and techniques, to avoid lack of, errors or inappropriate knowledge. Consultants also need to have knowledge of the relevant industries and fields of market research, understand the object and background of market research, and avoid irrelevant, outdated or inaccurate knowledge.

Consultants need to have comprehensive data. Market research data refers to the market-related information collected by market research participants through various channels and methods, which determines the breadth and depth of market research. Consultants need to use multiple sources and forms of data to cover all aspects and levels of the market and avoid missing, deviating or unbalanced data. Consultants also need to use valid and legal data, in line with the actual and norms of the market, to avoid invalid, illegal or non-compliant data.

Consultants need to have in-depth analysis. The analysis of market research refers to the processing and interpretation of market-related information by market research participants, which determines the logic and significance of market research. Consultants need to use scientific and systematic analysis methods and techniques to clean, organize, summarize and reason about market-related information to avoid messy, confusing, simple or arbitrary analysis. Consultants also need to use innovative and forward-looking analytical methods and techniques to mine, compare, evaluate and forecast market-related information to avoid mediocre, outdated, one-sided or short-sighted analysis.

Consultants need to have actionable recommendations. Market research recommendations are the guidance and support for market strategies and actions provided by market research participants based on the analysis and interpretation of market-related information, which determines the usefulness and value of market research. Consultants are required to provide recommendations that are consistent with the objectives and budget of market research, meet the needs and expectations of market research initiators and decision makers, and avoid irrelevant, unrealistic or inoperable recommendations. Consultants are also required to provide recommendations that are in line with the market environment and trends, adapt to changes and developments in the subject and context of market research, and avoid inadaptable, inflexible or unsustainable recommendations.

The Case of Market Research: Champ Consulting

Shangpu Consulting is a professional market research and consulting services company, providing customized market research and consulting solutions for customers in all walks of life. Shangpu Consulting plays the role of consultant in market research, and at the same time, it has effectively cooperated and interacted with the market research manager and the media. The following will show the role and value of the manager, media and consultants in market research, taking into account the specific cases of Shangpu Consulting serving clients.

Case 1: Provide market research and consulting services for an e-commerce platform

An e-commerce platform is an online shopping platform that focuses on providing high quality, cost-effective, and high-service, with hundreds of millions of users and tens of thousands of merchants. The manager of the e-commerce platform hopes to understand the shopping behavior, needs and satisfaction of users, as well as the advantages and disadvantages of competitors through market research, so as to formulate more effective market strategies and optimize user experience. The manager of the e-commerce platform commissioned Shangpu Consulting to provide market research and consulting services.

According to the goals and budget of the e-commerce platform, Shangpu Consulting has used a variety of market research methods and techniques, including online questionnaires, in-depth interviews, focus groups, neuromarketing, social media analysis, etc., to collect a large number of users and competitors. Data. Shangpu Consulting has used advanced data analysis and visualization technology to clean, integrate, summarize and reason the data, and come up with the following mainConclusionand recommendations:

The users of the e-commerce platform are mainly middle-and high-income urban white-collar workers aged 25-40. They pay attention to the quality, price and service of products, and also pursue personalized and social shopping experience. Users of the e-commerce platform have high overall satisfaction with the platform, but there are also some dissatisfaction aspects, mainly logistics speed, after-sales service, product types and activity creativity.

The competitors of the e-commerce platform are mainly some large and comprehensive e-commerce platforms. Their advantages are more users and merchants, richer goods and services, stronger brands and influence, and more marketing and promotion activities. The disadvantages of the e-commerce platform's competitors are the lack of specialized and differentiated strategies for specific user groups and market segments, as well as the pressure of more supervision and public opinion.

In order to improve the market performance and competitiveness of the e-commerce platform, Shangpu Consulting recommends that the e-commerce platform take the following market strategies and actions:

Strengthen the segmentation and portrait of users, provide products and services that are more in line with user needs and preferences, and increase user loyalty and stickiness.

Improve the management and investment in logistics and after-sales, improve the quality and efficiency of logistics speed and after-sales service, and increase user satisfaction and trust.

Expand the recruitment and cultivation of commodities and merchants, increase the types and quality of commodities, improve the service level and cooperation degree of merchants, and increase the choice and purchase possibility of users.

Innovate the way and content of marketing and promotion, increase the creativity and attractiveness of the event, use the influence of social media and Internet celebrities, and increase the willingness and frequency of user participation and sharing.

Shangpu Consulting Company reported and explained the results and suggestions of the above market research to the manager of the e-commerce platform in detail in the form of reports and demonstrations. The manager of the e-commerce platform highly recognized and appreciated the market research and consulting services of Shangpu Consulting Company. At the same time, he also put forward some questions and suggestions, and conducted in-depth discussions and communication with Shangpu Consulting Company.

In this case, the manager, the media and the consultant played their respective roles and values in the market research. The manager defined the objectives and budget of the market research, effectively communicated and coordinated the participants of the market research, flexibly responded to the changes of the market environment and the results of the market research, and formulated and implemented the appropriate market strategy. The media provides professional and innovative market-related information, disseminates and comments on the results and recommendations of market research, increases the influence and credibility of market research, and provides data, opinions and feedback to market research participants. Consultants provide rich and comprehensive market-related data, analyze and interpret market-related information, and provide data, analysis and advice to market research initiators and decision makers.

Case 2: Provide market research and consulting services for an automobile manufacturer

A certain car manufacturer is a company that focuses on producing and selling high-end, smart, and environmentally friendly cars, with millions of users and thousands of dealers. The manager of the car manufacturer hopes to understand the driving habits, needs and satisfaction of users, as well as the products and strategies of competitors through market research, so as to formulate more effective product development and marketing strategies and plans. The car manufacturer's manager commissioned Champu Consulting to provide market research and consulting services.

According to the automaker's goals and budget, Shangpu Consulting has used a variety of market research methods and techniques, including field observations, mysterious customers, laboratory tests, online surveys, scenario simulations, etc., to collect a large number of users and competitors. Data. Shangpu Consulting has used advanced data analysis and visualization technology to clean, integrate, summarize and reason the data, and come up with the following mainConclusionand recommendations:

The users of the car manufacturer are mainly high-income urban elites aged 35-50. They pay attention to the brand, performance and design of the car, as well as the intelligent and environmentally friendly characteristics of the car. Users of the automaker have high overall satisfaction with the company, but there are also some areas of dissatisfaction, mainly price, maintenance, charging and safety.

The car manufacturer's competitors are mainly some internationally renowned car brands. Their advantages are stronger brand influence, more stable product quality, better service network, and more loyal users. The disadvantage of the automaker's competitors is the lack of innovative and differentiated products and strategies for specific markets and users, as well as facing more environmental and social responsibilities and pressures.

In order to improve the market performance and competitiveness of the car manufacturer, Champ Consulting recommends that the car manufacturer take the following market strategies and actions:

Strengthen the segmentation and portrait of users, provide products and services that are more in line with user needs and preferences, and increase user loyalty and stickiness.

Reduce dependence on selling prices, improve the development and utilization of other sources of income, such as value-added services, advertising cooperation, data analysis, etc., and increase the motivation and frequency of users' consumption and payment.

Establish and improve the network and facilities for maintenance and charging, improve the convenience and safety of maintenance and charging, and increase user confidence and satisfaction.

Strengthen the innovation and optimization of products, improve the level and differentiation of product performance and design, and increase the competitiveness and attractiveness of products.

Strengthen the publicity and education of the characteristics of intelligence and environmental protection, improve the user's awareness and acceptance, and increase the user's sense of responsibility and honor.

The results and recommendations of the above market research were reported and explained in detail to the car manufacturer's manager in the form of reports and presentations. The manager of the automobile manufacturer highly recognized and appreciated the market research and consulting services of Shangpu consulting company. At the same time, he also put forward some questions and suggestions, and had in-depth discussion and communication with Shangpu consulting company.

In this case, the manager, the media and the consultant played their respective roles and values in the market research. The manager defined the objectives and budget of the market research, effectively communicated and coordinated the participants of the market research, flexibly responded to the changes of the market environment and the results of the market research, and formulated and implemented the appropriate product development and marketing strategies and plans. The media provides professional and innovative market-related information, disseminates and comments on the results and recommendations of market research, increases the influence and credibility of market research, and provides data, opinions and feedback to market research participants. Consultants provide rich and comprehensive market-related data, analyze and interpret market-related information, and provide data, analysis and advice to market research initiators and decision makers.