The Value of 1. Consumer Research

Consumer research refers to the process of collecting, analyzing and interpreting consumer information to understand consumer needs, preferences, behavior and satisfaction, so as to provide the basis and guidance for the marketing of enterprises. The value of consumer research is mainly reflected in the following aspects:

Consumer research can help companies identify and segment markets, identify target and potential markets, and market size, structure, characteristics and trends, so as to develop appropriate market positioning and market segmentation strategies.

Consumer research can help companies understand and predict consumer needs and preferences, as well as the factors that affect consumer decisions, so as to design and develop products and services that meet consumer expectations and needs, and improve the competitiveness and attractiveness of products.

Consumer research can help companies evaluate and optimize their marketing mix, including products, prices, channels, and promotions, so as to develop effective marketing strategies and improve the effectiveness and efficiency of marketing.

Consumer research can help companies monitor and evaluate the implementation and effectiveness of marketing, as well as consumer feedback and satisfaction, so as to adjust and improve marketing measures and methods in a timely manner to improve the quality and level of marketing.

Consumer research can help companies identify and grasp the opportunities and challenges of the market, as well as the dynamics and strategies of competitors, so as to formulate targeted marketing plans and measures to improve the innovation and flexibility of marketing.

Challenges of 2. Consumer Research

Consumer research is a complex and arduous task, which requires professional knowledge, skills and experience, as well as keen insight and judgment. However, with the changes in the market environment and the intensification of competition, consumer research is also facing many challenges, mainly including the following aspects:

Diversification and individualization of consumer needs. With the development of economy and the progress of society, the income level and living standard of consumers are constantly improving, and the demand of consumers is becoming more and more diversified and personalized. Consumers not only pay attention to the function and performance of products, but also pay attention to the quality and image of products, as well as the emotion and value that products can bring. The needs of consumers also change with the changes of time, place, occasion, mood and other factors. The needs of consumers are often dynamic, multi-level and multi-dimensional. This requires consumer research to fully understand and grasp the needs of consumers, as well as the factors that affect consumer demand, so as to provide products and services that meet consumer needs.

The complexity and concealment of consumer behavior. With the development and popularization of information technology, the channels and ways for consumers to obtain information are becoming more and more diversified and convenient, and consumers' purchasing behavior is becoming more and more complicated and concealed. Consumers will conduct a large number of information searches and comparisons before purchasing, referring to information from various sources, such as brand official websites, social media, e-commerce platforms, consumer reviews, word-of-mouth recommend, etc., so as to form their own purchase intentions and decisions. Consumers will choose different purchase channels and methods when purchasing, such as online purchase, offline purchase, cross-border purchase, social purchase, live purchase, etc., so as to realize their own purchase behavior. Consumers will carry out different consumption behaviors after purchase, such as use, sharing, evaluation, feedback, re-purchase, etc., so as to form their own consumption experience and satisfaction. This requires consumer research to comprehensively observe and analyze consumer behavior, as well as the factors that affect consumer behavior, so as to understand consumer behavior motivation and behavior results.

The quantification and fragmentation of consumer data. With the development and popularization of the Internet, consumers' data is more and more abundant, and more and more scattered. Consumer data includes not only traditional consumer research data, such as questionnaire data, interview data, observation data, etc., but also emerging consumer data, such as social media data, e-commerce platform data, mobile application data, Internet of Things data, etc. Consumer data comes from different channels and platforms, involves different dimensions and indicators, presents different forms and structures, and has different quality and value. This requires consumer research to effectively collect and integrate consumer data, as well as to effectively clean, process, analyze and interpret, mine and present consumer data, so as to obtain valuable consumer insight and knowledge.

Coping Strategies of 3. Consumer Research

In the face of the challenge of consumer research, practitioners and decision makers of consumer research should not be helpless, but should actively deal with it and adopt effective strategies and measures to improve the level and ability of consumer research. Based on the practical experience of Champ Consulting, we put forward the following four suggestions to meet the challenges of consumer research:

Adopt diversified research methods and tools to improve the effectiveness and efficiency of research. The methods and tools of consumer research are the basis and guarantee of consumer research, and they determine the quality and effectiveness of consumer research. The methods and tools of consumer research should be selected and combined according to the purpose, object, content and environment of consumer research in order to achieve the best research results. The methods and tools of consumer research should be diversified, that is, they should include not only traditional research methods and tools, such as questionnaires, interviews, observations, experiments, etc., but also emerging research methods and tools, such as online surveys, social media analysis, neuromarketing, eye tracking, etc. Diversified research methods and tools can collect and analyze consumer information from different angles and levels, thereby improving the effectiveness and efficiency of research.

Use big data and artificial intelligence technology to improve the accuracy and insight of research. The data of consumer research is the core and soul of consumer research, and they determine the value and significance of consumer research. The data of consumer research should be processed and analyzed using big data and artificial intelligence technology to improve the accuracy and insight of the research. Big data and artificial intelligence technology can help consumer research to achieve the following advantages: first, it can process massive consumer data, including structured data and unstructured data, so as to improve the integrity and coverage of data; second, it can analyze complex consumer data, including text, images, video, audio, etc., so as to improve the richness and multi-dimensionality of data; third, it can mine deep consumer data, including consumer behavior, emotions, values, etc., so as to improve the depth and breadth of data; fourth, it can present intuitive consumer data, including visualization, storytelling, simulation, etc., so as to improve the ease of understanding and dissemination of data.

Pay attention to consumers' emotions and values, and improve the depth and breadth of research. The purpose of consumer research is to understand the real needs and preferences of consumers, so as to provide the basis and guidance for the marketing of enterprises. However, the real needs and preferences of consumers are often not superficial, direct, and clear, but deep, indirect, and vague. They are affected and restricted by consumers' emotions and values. Consumers' emotions and values are the intrinsic motivation and orientation of consumers, which determine their consumption motivation and consumption goals. Consumers' emotions and values are also consumers' personalities and characteristics, which determine consumers' consumption styles and attitudes. Consumer research should focus on the emotions and values of consumers, so as to improve the depth and breadth of research. Consumer research should use research methods and tools suitable for exploring consumer emotions and values, such as sentiment analysis, value chain analysis, situational analysis, and storytelling. Consumer research should start from the emotions and values of consumers, find out the core needs and preferences of consumers, as well as the pain points and visions of consumers, so as to provide strong support and guidance for the marketing of enterprises.

Establish closed-loop management of consumer research to improve the sustainability and conversion rate of research. The process of consumer research is a circular process, which includes the planning, execution, analysis and application of consumer research. The process of consumer research should establish an effective closed-loop management to improve the sustainability and conversion rate of research. The closed-loop management of consumer research mainly includes the following aspects: First, it is necessary to clarify the goals and indicators of consumer research, as well as the expected results and impacts of consumer research, so as to provide clear direction and basis for the planning and execution of consumer research; The second is to establish a team and mechanism for consumer research, as well as the process and standards of consumer research, so as to provide effective organization and guarantee for the execution and analysis of consumer research; the third is to formulate consumer research reports and recommendations, as well as the communication and sharing of consumer research, so as to provide strong support and promotion for the application and transformation of consumer research; the fourth is to implement the evaluation and feedback of consumer research, and The improvement and optimization of consumer research, so as to provide effective supervision and incentives for the continuous and circular consumer research.

4. epilogue

Consumer research is an important means of marketing, which can help enterprises to understand the needs, preferences, behavior and satisfaction of consumers, so as to formulate effective marketing strategies and product innovation. However, consumer research also faces many challenges, such as the diversification and personalization of consumer needs, the complexity and concealment of consumer behavior, and the quantification and fragmentation of consumer data. Facing the challenge of consumer research, practitioners and decision makers of consumer research should actively respond and adopt effective strategies and measures to improve the level and ability of consumer research. This paper analyzes the value and challenges of consumer research, and puts forward four suggestions to deal with the challenges of consumer research based on the practical experience of Shangpu Consulting, namely: 1) adopt diversified research methods and tools to improve the effectiveness and efficiency of research; 2) use big data and artificial intelligence technology to improve the accuracy and insight of research; 3) pay attention to consumers' emotions and values, and improve the depth and breadth of research; 4) Establish closed-loop management of consumer research to improve the sustainability and conversion rate of research. The purpose of this paper is to provide useful reference and enlightenment for the practitioners and decision makers of consumer research, and help them stand out in the competitive market.