The Significance and Challenges 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 a basis for business decisions. Consumer research can help businesses:

-Identify and analyze target markets and target consumers, identify market opportunities and competitive advantages;

-Assess and forecast market demand and potential, and set reasonable market size and share targets;

-Understand consumers' purchase motivation, decision-making process, purchase behavior and use behavior, and design products and services that are more in line with consumers' needs and expectations;

-Understand the attitude, perception, satisfaction and loyalty of consumers to brands, products and services, and establish and maintain a good brand image and reputation;

-Understand the reaction and influence of consumers on the market environment, competitors, marketing activities, etc., and optimize the marketing mix and resource allocation;

-Discover new demands, new trends and new problems of consumers, and provide inspiration and direction for product innovation and market expansion.

Shangpu Consulting is a well-known independent third-party research and investment and financing consulting agency in China, dedicated to providing professional solutions for corporate strategic decision-making. As one of the earliest consulting institutions to provide special market research services in China, Shangpu Consulting has experienced and witnessed the rapid development of China's market research industry in the past 14 years. It has provided professional market research and related consulting services to more than 5000 customers, serving customers Covering many industry fields, it has now become the most influential domestic leading brand in market research in China, and won the "China Market Research Customer Satisfaction Best Brand Award", it has the "the People's Republic of China Foreign-related Investigation License" issued by the National Bureau of Statistics of China ".

Shangpu Consulting has rich experience and professional team in consumer research, and can provide customized consumer research solutions according to the different needs of customers, including but not limited:

-Market segmentation and user portrait: through the analysis of consumers' demographic characteristics, psychological characteristics, behavioral characteristics, etc., consumers are divided into different market segments and user groups, providing a basis for the positioning, differentiation and personalization of products and services;

-Consumer needs and preferences: through the analysis of consumers' demand levels, demand structures, demand drivers, demand changes, etc., to understand consumers' expectations and preferences for products and services, and to provide guidance on the function, quality, design, price, etc. of products and services;

-Consumer behavior and path: through the analysis of consumers' purchase process, purchase mode, purchase frequency, purchase scene, purchase contact point, etc., to understand the consumer's purchase behavior and path, and provide suggestions for the channel, distribution and promotion of products and services;

-Consumer satisfaction and loyalty: through the analysis of consumer satisfaction, loyalty, willingness to recommend, conversion rate, retention rate, etc., to understand the evaluation and feedback of consumers on products and services, to provide the basis for the improvement, optimization and maintenance of products and services;

-Consumer insights and trends: through the analysis of consumers' values, lifestyles, consumption concepts, consumer psychology, etc., to discover consumers' potential needs, emerging needs, unmet needs, etc., to provide inspiration for the innovation, expansion, and leadership of products and services.

However, consumer research also faces many challenges, such as unclear research objectives, inappropriate research methods, unreliable research data, and unpractical research results. These problems may lead to the poor effect of consumer research, and even cause waste of resources and mistakes in decision-making. Therefore, companies need to pay attention to the following aspects when conducting consumer research:

-Clarify the purpose and questions of the research: before conducting consumer research, enterprises need to clarify the purpose and questions of the research, that is, what questions to answer, why to answer this question, and what value can be brought by answering this question. This can help companies to determine the scope and focus of the research, to avoid deviation from the theme or omission of key information;

-Choose appropriate research methods and tools: When conducting consumer research, enterprises need to choose appropriate research methods and tools according to the purpose and problems of the research, such as quantitative research or qualitative research, questionnaire survey or in-depth interview, online research or offline research. This can help enterprises to obtain effective and useful data, improve the efficiency and quality of research;

-Ensure the reliability and validity of research data: When conducting consumer research, companies need to ensure the reliability and validity of research data, that is, whether the data is true, accurate, complete, consistent, and timely. This can help enterprises to avoid data deviation and error, improve the reliability and validity of data;

-Analyze and explain the meaning and value of the research results: After conducting consumer research, companies need to analyze and explain the meaning and value of the research results, that is, the meaning, laws, relationships, trends, etc. behind the data. This can help companies extract valuable information and insights from data to provide support and basis for decision-making.

2. Shangpu Consulting's Consumer Research Case

In order to better demonstrate the consumer research ability and level of Shangpu consulting, this article will introduce the consumer research cases provided by Shangpu consulting for two customers, namely, an automobile manufacturer and a fast consumer goods enterprise.

Case 1: Consumer research for automakers

Background: The customer is a world-renowned automaker planning to launch a new mid-to-high-end sedan in the Chinese market, hoping to understand the needs and preferences of target consumers, as well as the strengths and weaknesses of competitors, and provide a basis for product positioning and marketing strategies.

Objectives: Champ Consulting provided the following consumer research objectives for this client:

-Analysis of the size, structure, trends and opportunities of China's mid-to-high-end sedan market;

-Identify and classify market segments and user profiles of target consumers;

-Understand the target consumer's demand, preference, purchase motivation and decision-making process for high-end cars;

-Assess the target consumer's knowledge, perception, attitude and satisfaction with the customer's brand and products;

-Understand the strengths and weaknesses of competitors' brands and products, as well as the evaluation and feedback of target consumers;

-Provide product positioning and differentiation advice, as well as marketing strategy optimization advice.

Method: Champ Consulting provided the following consumer research methods for this client:

-Use a combination of quantitative and qualitative methods to conduct online questionnaires and offline in-depth interviews respectively;

-Through a variety of channels and methods, such as social media, car forums, car exhibitions, car sales points, etc., to recruit eligible target consumers, a total of 1000 valid questionnaires and 50 in-depth interviews were collected;

-Through professional data analysis software and content analysis software, the collected data is cleaned, organized, analyzed and interpreted to extract valuable information and insights.

Results: Champ Consulting provided the client with the following consumer survey results:

-China's mid-to-high-end car market is showing a steady growth trend, mainly driven by urbanization, income growth, consumption upgrading and other factors, with an average annual growth rate of 8% in the next five years;

-The target consumers are mainly concentrated in first-tier and second-tier cities, aged 30-50, with an income of over 100000, a bachelor's degree or above, and a senior manager, professional, entrepreneur, etc., with high social status and consumption ability;

-The needs and preferences of target consumers for mid-to-high-end cars are mainly reflected in the following aspects: safety, comfort, performance, brand, appearance, technology, environmental protection, etc;

-The purchase motives of target consumers are mainly as follows: meeting their own travel needs, improving their own image and status, enjoying the fun and experience of driving, pursuing the expression of personality and taste, etc;

-The purchase decision-making process of target consumers mainly includes the following stages: problem identification, information search, scheme evaluation, purchase decision, post-purchase behavior, etc;

-Target consumers have low awareness, perception, attitude and satisfaction with customer brands and products, mainly due to the lack of visibility and influence of customer brands and products in the Chinese market, the lack of sufficient publicity and promotion, and the lack of target consumers' needs and preferences;

-The advantages and disadvantages of competitors' brands and products are mainly reflected in the following aspects: brand awareness, reputation, loyalty, differentiation, etc.; product function, quality, design, price, service, etc;

-Target consumers have high evaluation and feedback on competitors' brands and products. The main reason is that competitors' brands and products have a high market share and reputation in China, can meet or exceed the needs and expectations of target consumers, and are compatible with the values and lifestyles of target consumers.

Recommendation: Champ Consulting provided the following consumer research recommendations for this client:

-Product positioning and differentiation suggestions: Customers should position the product as a mid-to-high-end car with high-high quality, high-performance, high-tech, and high environmental protection characteristics, highlighting the advantages of product safety, comfort, performance and appearance, At the same time, focus on product innovation and personalization to meet the needs and preferences of target consumers, as well as the differences and differences with competitors;

-Suggestions for the optimization of marketing strategy: customers should strengthen the publicity and promotion of brands and products in the Chinese market, improve the popularity and influence of brands and products, and use a variety of channels and methods, such as advertising, public relations, social media, word-of-mouth marketing, experience marketing, etc., to convey the core values and advantages of brands and products, attract and retain target consumers, and establish and maintain a good brand image and reputation, enhance brand reputation and loyalty.

Case 2: Consumer Research of FMic Enterprises

Background: The customer is an internationally renowned fast-moving consumer product company, mainly engaged in personal care, home care, food and beverage products, with a number of well-known brands and products, hoping to understand the satisfaction and loyalty of Chinese consumers to their brands and products, as well as the direction and suggestions for improvement and optimization, so as to provide a basis for the promotion and maintenance of products and services.

Objectives: Champ Consulting provided the following consumer research objectives for this client:

-Analyze the scale, structure, trends and opportunities of China's FMC market;

-Understand Chinese consumers' demand, preference, purchase behavior and usage behavior for FMCCs;

-Evaluate Chinese consumers' satisfaction and loyalty to customer brands and products, as well as influencing factors and room for improvement;

-Understand the evaluation and feedback of Chinese consumers on customer brands and products, as well as the direction and suggestions for improvement and optimization;

-Provide strategies and measures for the promotion and maintenance of products and services.

Method: Champ Consulting provided the following consumer research methods for this client:

-Use a combination of quantitative and qualitative methods to conduct online questionnaires and offline in-depth interviews respectively;

-Through a variety of channels and methods, such as social media, e-commerce platforms, FMGs forums, FMGs outlets, etc., qualified target consumers were recruited, and a total of 2000 valid questionnaires and 100 in-depth interviews were collected;

-Through professional data analysis software and content analysis software, the collected data is cleaned, organized, analyzed and interpreted to extract valuable information and insights.

Results: Champ Consulting provided the client with the following consumer survey results:

-China's fast-moving consumer goods market is showing a trend of rapid growth, mainly driven by demographic dividend, consumption upgrading, e-commerce development, new retail model and other factors, with an average annual growth rate of 12% in the next five years;

-Chinese consumers' demand and preference for fast-food products are mainly reflected in the following aspects: quality, effect, safety, nature, convenience, variety, etc;

-Chinese consumers' purchasing behavior and usage behavior are mainly influenced by the following factors: price, brand, recommend, reviews, promotion, experience, etc;

-Chinese consumers have high satisfaction and loyalty to customer brands and products, mainly due to the high popularity and influence of customer brands and products in the Chinese market, which can meet or exceed the needs and expectations of consumers, and are consistent with consumers' values and lifestyles;

-Chinese consumers have more positive evaluations and feedback on customer brands and products, mainly due to the advantages of customer brands and products in terms of quality, effectiveness, safety, and nature, as well as the innovation and diversity of customer brands and products;

-The direction and suggestions of Chinese consumers for the improvement and optimization of customer brands and products mainly include the following aspects: price, channel, service, packaging, publicity, etc.

Recommendation: Champ Consulting provided the following consumer research recommendations for this client:

-Strategies and measures for the promotion and maintenance of products and services: customers should continue to maintain the advantages of quality, effect, safety and nature of brands and products, and at the same time pay attention to the innovation and diversification of products and services to meet the new needs and trends of consumers, as well as the differences and differences with competitors; customers should reasonably adjust their price strategies to adapt to different consumers and markets, at the same time, improve the cost performance and competitiveness of products; customers should expand and optimize channel strategies to cover more consumers and markets, and at the same time use emerging channels such as e-commerce and new retail to improve the visibility and accessibility of products; customers should improve And optimize service strategies to increase consumer satisfaction and loyalty, and at the same time use social media, word-of-mouth marketing, experience marketing and other methods to improve brand interaction and dissemination; customers should improve and optimize packaging strategies to enhance the appearance and attractiveness of products, while paying attention to the environmental protection and convenience of packaging to meet the needs and preferences of consumers; customers should strengthen and optimize publicity strategies to increase the visibility and influence of brands and products, while using advertising, public relations, activities and other methods to convey the core values and advantages of brands and products to attract and retain consumers.

Conclusion:

Consumer research is an important means for enterprises to understand market demand, optimize products and services, and enhance competitiveness. As the most influential domestic leading brand in market research in China, Shangpu Consulting has rich consumer research experience and professional consumer research team, which can provide customized consumer research programs for enterprises. help enterprises from the perspective of consumers, in-depth understanding of consumer needs, preferences, behavior and satisfaction, so as to provide professional solutions for enterprise decision-making.