Market research refers to the collection, collation, analysis and interpretation of data and information related to a particular market in order to understand the current situation, trends, opportunities and challenges of the market, so as to provide a basis and recommendations for decision-making. Market research can help companies identify important factors such as target customers, competitors, potential partners, and industry norms, evaluate key indicators such as demand, satisfaction, and value of products or services, and formulate or optimize core elements such as marketing strategies, brand positioning, and pricing strategies.

Because market research involves a variety of data sources, a variety of analytical methods, a variety of presentation forms, the need to have professional knowledge, skills and experience, therefore, many enterprises will choose to entrust professional market research companies to carry out market research services. As a third-party organization that provides professional services, market research companies can help companies obtain more comprehensive, in-depth and objective market information and insights, and avoid their own subjective biases or resource constraints that affect the quality and effectiveness of market research.

However, not all market research companies can meet the different needs and expectations of enterprises. According to the International Market Research Association (ESOMAR) statistics, as2023Year3At the end of the month, there were approximately1.2ten thousand market research companies, of which about40%Located in Europe, approx.30%Located in Asia, approximately20%Located in the Americas, approximately10%Located in Africa and Oceania. These market research companies have huge differences in scale, field, scope, level, etc. How do companies choose market research companies that suit their needs?

This paper argues that several key factors in selecting a market research company are as follows:

The purpose of market research: before conducting market research, enterprises should make clear what kind of purpose they want to achieve, whether to understand the general situation and trend of the whole industry or specific market segments, or to evaluate the performance and advantages and disadvantages of their own or competitors' products or services, or to explore new market opportunities or innovation points, or to verify the feasibility and effectiveness of a hypothesis or scheme. For different purposes, different market research companies are required to provide corresponding services. Some market research firms may be good at providing macro market analysis and forecasting, some market research firms may be good at providing micro customer insights and behavioral analysis, and some market research firms may be good at providing innovative market strategies and recommendations. Enterprises should choose market research companies that match them according to their own purposes.

The content of market research: after conducting market research, enterprises should know what kind of content they want to obtain, whether it is basic data such as market scale, growth rate, share, structure and distribution, key indicators such as customer demand, preference, satisfaction, loyalty and conversion rate, or important information such as the characteristics, advantages, disadvantages and strategies of competitors' products or services, it is also about market opportunities, threats, challenges, risks and other key factors. Different content requires different market research companies to provide corresponding data and information. Some market research companies may have rich second-hand data resources and channels, some market research companies may have strong first-hand data collection and processing capabilities, and some market research companies may have unique data analysis and interpretation methods. Enterprises should choose the matching market research company according to their own content.

Market research methods: during the period of market research, enterprises should know what kind of methods they want to adopt, whether it is quantitative methods, such as questionnaires, experimental design, mathematical modeling, etc., or qualitative methods, such as interviews, observation, case analysis, etc., or mixed methods, such as trigonometry, multi-level analysis, etc. Different methods require different market research companies to provide corresponding technologies and tools. Some market research companies may have advanced quantitative analysis software and hardware, some market research companies may have professional qualitative analysts and equipment, and some market research companies may have flexible hybrid analysis solutions and platforms. Enterprises should choose the market research company that matches them according to their own methods.

Market research report: after the completion of market research, enterprises should expect what kind of report they want to get, whether it is a detailed and comprehensive report containing all data and information, with complete references and appendices, or a concise and accurate report containing only core data and information, with clear charts and summaries, or an innovative and practical report containing not only data and information, it is accompanied by profound insights and suggestions. Different reports require different market research companies to provide corresponding presentation and communication. Some market research companies may be good at writing long and systematic reports and providing written or oral explanations and explanations. Some market research companies may be good at writing simple and intuitive reports and providing graphic or animation forms of display and demonstration. Some market research companies may be good at writing innovative and practical reports and providing communication and consultation in the form of insights and suggestions. Enterprises should choose the matching market research company according to their own reports.

In summary, the choice of market research company is a need to consider a number of factors in the decision-making process, enterprises should be based on their own market research purposes, content, methods, reports and other aspects, to choose a matching market research company, in order to achieve the best market research results. Of course, in addition to these factors, there are some other factors to consider, such as market research company's reputation, experience, price, service and so on. In these respects, Champ Consulting, as a professional market research company, has the following advantages and characteristics:

Shangpu Consulting has many years of market research experience, serving customers in many industries and fields, and has accumulated a wealth of cases and knowledge.

Shangpu Consulting has a professional market research team, including senior market analysts, data scientists, industry experts, strategy consultants, etc., to provide high-quality market research services.

Shangpu Consulting has advanced market research technologies and tools, including artificial intelligence, big data, cloud computing, etc., and can provide efficient market research services.

Shangpu Consulting has innovative market research methods and solutions, including customization, blending, visualization, etc., to provide high-value market research services.