Purpose of 1. Market Research

The purpose of market research is to solve the problems encountered by enterprises or customers in the market, or to identify opportunities in the market, so as to provide a basis for strategic decision-making. The purpose of market research should be clear, specific, and quantifiable, rather than vague, general, and difficult to evaluate. The purpose of market research determines the scope, depth and focus of the research, and is also the criterion for evaluating the effectiveness of the research.

For example, Shangpu Consulting once provided market research services for an automobile manufacturer. The company wanted to understand the development trend and consumer demand of new energy vehicles in the Chinese market, so as to formulate corresponding product strategies and market strategies. The purpose of market research is:

Analyze the market scale, growth rate, market structure, competition pattern and policy environment of new energy vehicles in the Chinese market;

Identify the target consumer group, consumer motivation, consumer preference and consumer behavior of new energy vehicles in the Chinese market;

Explore the future development trend, market opportunities and market risks of new energy vehicles in the Chinese market.

These objectives are specific, quantifiable and can be achieved through market research methods and tools.

2. the object of market research

The object of market research refers to the source of information to be collected by market research, that is, the sample of research. The object of market research should be representative, credible and accessible, not random, unreliable and unreachable. The choice of market research object depends on the purpose, content and method of market research, and also affects the quality and efficiency of market research.

For example, Champu Consulting provides market research services to a food manufacturer who wants to understand the snack consumption habits and brand image in the Chinese market in order to optimize product portfolio and brand positioning. The object of market research is:

Snack consumers, including consumers of different age, gender, income, region, education and other dimensions, to reflect the diversity and difference of the market;

Snack distributors, including distributors of different channels, sizes, regions, types, etc., to reflect the distribution and structure of the market;

Snack competition, including different categories, brands, prices, quality, taste and other dimensions of competition to reflect the market competition and opportunities.

These objects are representative, credible, accessible, and can be collected through market research methods and tools.

Content of 3. market research

The content of market research refers to the content of the information to be collected by market research, that is, the indicators of the research. The content of market research should be relevant, important and measurable, not irrelevant, secondary and unpredictable. The determination of the content of market research depends on the purpose, object and method of market research, and also determines the results and value of market research.

For example, Champu Consulting provides market research services for a clothing brand that wants to understand clothing consumption trends and brand image in the Chinese market in order to adjust product design and marketing strategies. The content of market research is:

Basic information of clothing consumers, such as age, gender, income, region, education, etc;

The consumption behavior of clothing consumers, such as purchase frequency, purchase channel, purchase amount, purchase motivation, purchase scene, etc;

Consumer preferences of clothing consumers, such as clothing style, clothing color, clothing material, clothing brand, clothing price, etc;

Clothing consumers' awareness, recognition, satisfaction, loyalty and recommend of the brand;

Market share, market share, market growth rate, market competitiveness, market opportunities, etc. of apparel competitors.

These contents are relevant, important and measurable, and data can be collected through market research methods and tools.

4. methods of market research

The method of market research refers to the way of collecting information used in market research, that is, the means of research. The method of market research should be scientific, effective and appropriate, not arbitrary, ineffective and inappropriate. The choice of market research method depends on the purpose, object and content of market research, and also affects the cost and time of market research.

Market research methods are generally divided into two categories: qualitative research and quantitative research. Qualitative research refers to the collection of in-depth and qualitative information about the market, such as consumers' feelings, attitudes, motivations, and needs, through unstructured, open, and subjective methods. Quantitative research refers to the collection of superficial and quantitative information about the market, such as consumer behavior, preferences, opinions, and satisfaction, through a structured, closed, and objective approach.

Qualitative and quantitative research have their own advantages and disadvantages, and generally need to be used in combination to complement and validate. Qualitative research can help identify the quality of data collection in the market. Data collection should ensure the authenticity, validity, adequacy and consistency of the data, and test and control the quality of the data through various ways and means, such as setting the standard of the data, using the source of the data, verifying the accuracy of the data, eliminating the deviation of the data, comparing the consistency of the data, etc.

Data collection should be efficient. Data collection should optimize the process of data acquisition and processing, and improve the speed and effectiveness of data collection and collation through various technologies and methods, such as using data tools, automating data processes, simplifying data formats, integrating data sources, and analyzing data characteristics.

Methods of 5. Data Analysis

Data analysis is the process and result of research, which determines the value and practicality of research, and is also the core and most difficult link of research. The principles and recommendations for selecting methods for data analysis are as follows:

Data analysis has goals. Data analysis should be based on the purpose of research and questions, choose the most able to answer and solve the way, to avoid purposeless, fruitless analysis. For example, if the research question is how to segment the market, then the method of data analysis should be cluster analysis, and if the research question is how to predict market demand, then the method of data analysis should be regression analysis.

Data analysis should be logical. Data analysis should be based on the type and characteristics of the data, choose the most able to express and explain the way, to avoid illogical, meaningless analysis. For example, if the data is qualitative, then the methods of data analysis should be content analysis, thematic analysis, text analysis, etc., and if the data is quantitative, then the methods of data analysis should be descriptive statistics, inferential statistics, multivariate statistics, etc.

Data analysis needs to be creative. Data analysis should be based on the meaning and relevance of the data, choose the most able to discover and create the way, to avoid uncreative, worthless analysis. For example, if the data is multidimensional, then the method of data analysis should be factor analysis, principal component analysis, structural equation modeling, etc., and if the data is dynamic, then the method of data analysis should be time series analysis, panel data analysis, survival analysis, etc.

6. report writing skills

Report writing is the output and transmission of research, which determines the impact and evaluation of research, and is also the final and most important link of research. The principles and recommendations for mastering the skills of report writing are as follows:

Report writing should be structured. Report writing should be in accordance with a certain format and sequence, organize and present the content of the research, to avoid clutter, disorderly report. For example, the structure of a report can include a title,AbstractCatalogue,Text、Conclusion, recommendations, references, appendices, etc.

The report should be written with content. Report writing should include all important and necessary information about the research, explain and elaborate the process and results of the research, and avoid missing and redundant reports. For example, the content of the report can include the purpose of the research, methods, data, analysis,Conclusionrecommendations, etc.

Report writing should be formal. Report writing should use appropriate language and charts to express and present the content of the research and avoid vague and complex reports. For example, the form of the report may include words, numbers, figures, tables, formulas, etc.

Case Analysis of 7. Shangpu Consulting Company

Shangpu Consulting is a professional market research and consulting service organization, providing high-quality market information and solutions to customers in all walks of life. The following are some of the specific cases of Champu Consulting's service customers, as well as simple analysis and explanation:

Case 1: An automaker wants to understand consumer demand and preferences for new energy vehicles in the Chinese market, as well as competitors' strategies and dynamics. Shangpu Consulting has designed a comprehensive market research program for it, including the following aspects:

Research purposes: to analyze the market scale, growth rate, structure and trend of new energy vehicles in the Chinese market; to identify the target consumer groups, purchase behavior, demand motivation and preference characteristics of new energy vehicles in the Chinese market; to evaluate the market share, product characteristics, price strategy and marketing activities of the main competitors of new energy vehicles in the Chinese market.

Research methods: A variety of qualitative and quantitative research methods, such as literature analysis, expert interviews, consumer surveys, market tests, etc., are used to obtain comprehensive and in-depth market information.

Data collection: Collect data from multiple sources and channels, such as official statistics, industry reports, online media, social platforms, car forums, car exhibitions, car dealers, car users, etc., to ensure the authenticity and validity of the data.

Data analysis: Use a variety of techniques and methods to analyze data, such as descriptive statistics, inferential statistics, cluster analysis, regression analysis, factor analysis, principal component analysis, etc., to arrive at meaningfulConclusionand recommendations.

Report writing: writing a report in a clear, concise, and logical manner, including the purpose of the research, methodology, data, analysis,Conclusion, recommendations, etc., as well as related charts, tables, formulas, etc., to demonstrate the value and usefulness of the research.

Case 2: If a cosmetics brand wants to explore the Indian market, it needs to understand the consumer characteristics and behaviors of cosmetics in the Indian market, as well as the opportunities and challenges of the market. Champu Consulting has designed a set of professional market research programs for it, including the following aspects:

Data analysis: A variety of statistical and machine learning data analysis methods are used, such as descriptive statistics, correlation analysis, regression analysis, classification analysis, cluster analysis, correlation analysis, recommend system, etc.

Report writing: according to the standard format and structure, wrote a detailed report, including the purpose of the research, methods, data, analysis,Conclusion, suggestions, etc., and the use of charts, pictures, colors and other forms to beautify the appearance and style of the report.

Case 3: A restaurant chain brand wants to understand the operating conditions and customer satisfaction of its stores in different cities, as well as the factors that affect the operating conditions and customer satisfaction of the stores, so as to formulate differentiated business strategies and optimize service quality. Champ Consulting provided the following market research services to this client:

Objective: To understand the turnover, cost, profit, passenger flow, repurchase rate, customer characteristics, customer demand, customer satisfaction, customer loyalty, etc. of stores in different cities, as well as the factors that affect these indicators, such as store location, environment, dishes, service, price, promotion, word of mouth, etc.

Research methods: A variety of quantitative and qualitative research methods are used, such as data analysis, store visits, customer interviews, customer satisfaction surveys, mystery customers, etc.

Data collection: a large number of first-hand and second-hand data are collected, such as store financial data, store operating data, store visit records, customer personal information, customer interview records, customer satisfaction scores, mysterious customer evaluations, etc.

Data analysis: A variety of descriptive and inferential data analysis methods are used, such as descriptive statistics, correlation analysis, regression analysis, anova, main component analysis, hypothesis testing, etc.

Report writing: according to the standard format and structure, wrote a detailed report, including the purpose of the research, methods, data, analysis,Conclusion, suggestions, etc., and the use of charts, pictures, colors and other forms to beautify the appearance and style of the report.