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The "five principles" of market research: experts sort out what you must abide.

2024-07-18 15:34:39 Source: Champ Consulting Visits:0

Clear 1. objectives

The first step in market research is to clarify the goal of the research, that is, what question to answer, why to answer this question, and what value can be brought by answering this question. Clear objectives help to determine the scope, object, content, method and time of the research, and also help to evaluate the cost and benefit of the research, as well as the feasibility and usability of the research results.

An important aspect of goal clarity is to distinguish between the types of research, that is, descriptive, exploratory, or causal. Descriptive research refers to the description and quantification of market status, scale, structure, trends, etc., such as market share, consumer satisfaction, brand awareness, etc. Exploratory research refers to the exploration and discovery of market problems, opportunities, needs, etc., such as market segmentation, consumer motivation, product innovation, etc. Causal research refers to research that verifies and tests the causal relationship between market variables, such as the impact of price changes on sales volume, the evaluation of advertising effectiveness, and the optimization of product characteristics. Different types of research have different purposes and methods, and it is necessary to choose the appropriate type according to the specific situation.

A typical example of a well-targeted market research service provided by Champ Consulting for an automaker. The automaker wants to develop a new electric vehicle and needs to understand the needs, competition, opportunities and risks of the target market. Shangpu Consulting first helps customers clarify the objectives of the research, that is, to explore the characteristics, preferences, motivations, obstacles, etc. of electric vehicle consumers in the target market, as well as the strengths, weaknesses, strategies, etc. of competitors, so as to provide guidance and suggestions for product development and market entry. According to this goal, Shangpu Consulting Company chose the type of exploratory research, adopted in-depth interviews, focus groups, scenario analysis and other methods, collected a large number of qualitative data, carried out in-depth analysis and interpretation, and finally provided customers with a detailed market research report, which was highly recognized and satisfied by customers.

2. method science

The second step in market research is the selection and design of the research methodology, I .e., the tools, techniques, procedures, and standards to be used to collect, process, analyze, and present data. Methodological science helps to ensure the validity, reliability, accuracy and consistency of the survey, and also helps to improve the efficiency, quality, reliability and effectiveness of the survey.

An important aspect of methodological science is the selection of appropriate data types, sources, sampling, collection and analysis methods based on the objectives and types of research. Data types are divided into qualitative data and quantitative data, qualitative data refers to non-numerical, descriptive, subjective data, such as views, feelings, attitudes, behavior, etc., quantitative data refers to numerical, statistical, objective data, such as quantity, proportion, frequency, scores, etc. Data sources are divided into first-hand data and second-hand data. First-hand data refers to the original and unprocessed data collected by oneself, and second-hand data refers to the existing and processed data collected by others. Sampling refers to the process of taking a part of individuals as samples from the population. Sampling methods are divided into probability sampling and non-probability sampling. Probability sampling refers to that the probability of each individual being taken is known, equal or calculable, and non-probability sampling refers to that the probability of each individual being taken is unknown, unequal or incalculable. Data collection methods are divided into active collection and passive collection, active collection refers to the active to the research object to ask questions or requests, such as questionnaires, interviews, experiments, etc., passive collection refers to the passive observation or recording of the behavior or reaction of the research object, such as observation, testing, scanning, etc. Data analysis methods are divided into qualitative analysis and quantitative analysis, qualitative analysis refers to the qualitative data classification, coding, induction, interpretation and other processes, such as content analysis, discourse analysis, topic analysis, quantitative analysis refers to the quantitative data calculation, statistics, inference and other processes, such as descriptive statistics, inferential statistics, multivariate analysis. Different data types, sources, sampling, collection and analysis methods have different advantages and disadvantages and applicable conditions, and it is necessary to choose the appropriate method according to the specific situation.

Three: the data is real

The data of market research refers to the information and materials of market research, which is the input and output of market research, and is also the basis and basis of market research. The data of market research should be true, that is, reflect the actual situation and changes of the market, conform to the objective laws and facts of the market, and avoid false, wrong and distorted data. The data of market research should be complete, that is, covering all the contents and objects of market research, meeting all the needs and problems of market research, and avoiding missing, loopholes and incomplete data. Market research data should be valid, that is, consistent with the objectives and methods of market research, to support the analysis and interpretation of market research, to avoid irrelevant, redundant and invalid data.

Real data market research can help enterprises effectively understand the current situation, trends, opportunities and problems of the market, and improve the reliability and value of market research. For example, Shangpu Consulting once provided market research services for an e-commerce company that wanted to understand the behavior and habits of online shoppers in the Chinese market in order to provide reference for the optimization and improvement of its platform. When conducting market research, Champ Consulting ensures that the data is true, complete and valid, namely:

Collect data through multiple channels and sources, including online questionnaires, online observations, user interviews and third-party reports to ensure the authenticity and diversity of data;

Design the scope and quantity of data collection through reasonable sampling and stratification, including online shopping users of different regions, ages, genders and incomes, to ensure the integrity and representativeness of data;

Filter out invalid, duplicate and abnormal data through strict data cleaning and verification, retain data related to market research objectives and methods, and ensure the validity and quality of data.

These measures are to ensure the authenticity of the data and provide a solid foundation for the follow-up analysis and interpretation of market research.

Four: objective analysis

The analysis of market research refers to the process of processing, processing, summarizing and summarizing the data of market research, which is the core and focus of market research, and also the embodiment of the innovation and value of market research. The analysis of market research should be objective, that is, based on market research data and facts, the use of market research theories and models, to avoid subjective, biased and speculative influence. The analysis of market research should be systematic, that is, from the whole and local, from the surface and deep, from the static and dynamic point of view, comprehensive consideration of all aspects and levels of market research, to avoid isolation, one-sided and simple analysis. The analysis of market research should be innovative, that is, from different angles and dimensions, to find new problems and laws of market research, to put forward new ideas and suggestions of market research, to avoid outdated, repetitive and mediocre analysis.

Analyzing objective market research can help companies effectively understand the nature and laws of the market and improve the depth and breadth of market research. For example, Champu Consulting once provided market research services for a restaurant chain brand that wanted to understand the characteristics and trends of food and beverage consumption in the Chinese market in order to formulate appropriate strategies for its brand positioning and development. In conducting market research, Champ Consulting conducted an objective, systematic and innovative analysis, namely:

Based on the data and facts of market research, the characteristics and trends of food and beverage consumption in the Chinese market are objectively analyzed by using market research theories and models such as market segmentation, consumer behavior and competitive strategies;

From the overall and local, from the surface and deep, from the static and dynamic point of view, the Chinese market food consumption demand, supply, environment and influence factors, a systematic analysis of the Chinese market food consumption opportunities and problems;

From different angles and dimensions, the new problems and laws of catering consumption in the Chinese market are found, new views and suggestions on catering consumption in the Chinese market are put forward, and the potential and direction of catering consumption in the Chinese market are analyzed innovatively.

These analyses are objective, systematic and innovative, and provide valuable reference and support for the strategy and decision-making of restaurant chain brands.

Five: the report is clear

The report of market research refers to the document that summarizes and presents the process and results of market research. It is the result and display of market research, and it is also the carrier of communication and transmission of market research. The market research report should be clear, that is, with a clear structure, logic and expression, so that readers can quickly, accurately and completely understand the purpose of market research, methods, results and recommendations, to avoid ambiguity, confusion and unclear reports. The market research report should be concise, that is, to remove redundant and irrelevant information, highlight the focus and core information, so that readers can easily, conveniently and efficiently read the market research report, to avoid lengthy, complex and inefficient reports. The market research report should be interesting, that is, the use of charts, cases, stories and other forms to increase the visual and emotional appeal of the market research report, so that readers can happily, actively and actively read the market research report, to avoid boring, boring and passive reports.

A clear market research report can help companies effectively convey the information and value of market research and improve the influence and recognition of market research. For example, Champ Consulting used to provide market research services to an education and training institution that wanted to understand the development and prospects of online education in the Chinese market in order to formulate appropriate strategies for the design and promotion of its courses. In writing the market research report, Champ Consulting paid attention to the clarity, simplicity and interest of the report, namely:

Adopting a standard market research report structure, includingAbstractCatalogue,TextConclusionand appendices to make the structure of the report clear and complete;

Adopting concise language and expression, eliminating redundant and irrelevant information, highlighting key and core information, making the content of the report concise and clear;

Charts, cases, stories and other forms are used to increase the visual and emotional appeal of the report, making the content of the report interesting and vivid.

These practices are all designed to make the report clear, concise and interesting, and provide valuable reference and support for the strategy and decision-making of education and training institutions.

Conclusion

Market research is an important basis for enterprises to formulate strategies and decisions, but the process and methods of market research are not simple and need to follow some basic principles and norms. From the perspective of experts, this paper combs the "five principles" of market research, which are: clear objectives, scientific methods, true data, objective analysis and clear reports. These principles are the basis and guarantee of market research, as well as the quality and effectiveness of market research. This paper also shows the application and value of these principles in practice, combined with the specific case of the clients of the Shangpu consulting service. It is hoped that this paper can provide some reference and enlightenment for the implementation and promotion of market research.

Appendix

The data and information in this article comes from the following sources:

Market research project report of Champ Consulting;

The official website and public number of Champ Consulting;

Reports and articles from third-party market research organizations and media.




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