The purpose of market research in the 1. Chinese patent medicine industry

Market research refers to the process of collecting, collating, analyzing and interpreting market-related information to understand the current situation and trends of the market and provide a basis for market decision-making. Market research is an important part of marketing and one of the main contents of market research.

The purpose of market research in the Chinese patent medicine industry is mainly in the following aspects:

Understand the development environment of the Chinese patent medicine industry, including the influencing factors of policies and regulations, social economy, scientific and technological progress, consumer demand, competitors, etc., and evaluate the development opportunities and risks of the Chinese patent medicine industry;

Understand the market scale, structure, characteristics, dynamics and trends of the Chinese patent medicine industry, and judge the market potential and growth space of the Chinese patent medicine industry;

Understand the product structure, variety, quality, price, channel, promotion and other aspects of the Chinese patent medicine industry, and analyze the product competitiveness and market share of the Chinese patent medicine industry;

Understand the consumer characteristics, needs, preferences, satisfaction, loyalty and other aspects of the Chinese patent medicine industry, and analyze the consumer behavior and market demand of the Chinese patent medicine industry;

Understand the strategy, strengths, weaknesses, trends, threats and other aspects of competitors in the Chinese patent medicine industry, and analyze the competitive landscape and competitive strategies of the Chinese patent medicine industry;

Provide scientific, objective and effective information support for the market decision-making of the Chinese patent medicine industry, including market positioning, market objectives, market strategies, market forecasts and other aspects of decision-making.

Content of market survey of 2. Chinese patent medicine industry

The contents of the market survey of the Chinese patent medicine industry mainly include the following aspects:

The macro-environment analysis of the Chinese patent medicine industry mainly refers to the analysis of the political, economic, social, technical, legal, environmental and other external environments in which the Chinese patent medicine industry is located, as well as the development history, current situation, trends, problems and other internal environments of the Chinese patent medicine industry;

The analysis of the market profile of the Chinese patent medicine industry mainly refers to the analysis of the market size, market structure, market characteristics, market dynamics and market trends of the Chinese patent medicine industry;

The product analysis of the Chinese patent medicine industry mainly refers to the analysis of the product structure, product variety, product quality, product price and product innovation of the Chinese patent medicine industry;

The channel analysis of the Chinese patent medicine industry mainly refers to the analysis of the channel structure, channel type, channel characteristics, channel efficiency and channel selection of the Chinese patent medicine industry;

The promotion analysis of the Chinese patent medicine industry mainly refers to the analysis of the promotion purpose, promotion method, promotion effect and promotion evaluation of the Chinese patent medicine industry;

Consumer analysis of the Chinese patent medicine industry mainly refers to the analysis of consumer characteristics, consumer demand, consumer preference, consumer satisfaction, consumer loyalty and other aspects of the Chinese patent medicine industry;

The analysis of competitors in the Chinese patent medicine industry mainly refers to the analysis of the strategies, strengths, weaknesses, trends and threats of competitors in the Chinese patent medicine industry;

The market forecast analysis of the Chinese patent medicine industry mainly refers to the forecast analysis of the market size, market structure, market characteristics, market dynamics and market trends of the Chinese patent medicine industry.

Methods and tools for market research 3. the Chinese patent medicine industry

The methods and tools of market research in the Chinese patent medicine industry mainly include the following:

Literature analysis refers to the method of obtaining basic information and background knowledge of the Chinese patent medicine industry through the collection, collation, analysis and utilization of various literature related to the Chinese patent medicine industry, such as policies and regulations, industry reports, professional journals, academic papers, news media, etc;

Statistical analysis refers to the method of quantitatively describing and inferring the current situation and trend of the Chinese patent medicine industry by collecting, sorting, analyzing and using various statistical data related to the Chinese patent medicine industry, such as industry data, market data, product data, channel data, consumer data, competitor data, etc., using mathematical statistics, econometrics and other technologies;

Investigation and analysis refers to the design, implementation and analysis of various questionnaires, interviews, observations, experiments, etc. related to the Chinese patent medicine industry, directly or indirectly from the relevant personnel of the Chinese patent medicine industry, such as industry experts, business managers, Channels, consumers, etc., to obtain first-hand information and in-depth information of the Chinese patent medicine industry;

Case analysis refers to the method of collecting, sorting, analyzing and utilizing various successful or failed cases related to the Chinese patent medicine industry, such as the cases of typical enterprises, products, channels, promotions, consumers, competitors, etc., and using comparative analysis, inductive analysis, deductive analysis and other techniques to extract the experience, lessons and regular understanding of the Chinese patent medicine industry;

SWOT analysis refers to the method of comprehensive evaluation of the development status and prospects of the proprietary Chinese medicine industry by analyzing the advantages (Strengths), disadvantages (Weaknesses), opportunities (Opportunities) and threats (Threats) of the proprietary Chinese medicine industry, and providing reference for market decision-making in the proprietary Chinese medicine industry;

PEST analysis method refers to the method of evaluating the external opportunities and threats of the Chinese patent medicine industry by analyzing the macro environmental factors such as politics (Political), economy (Economic), society (Social) and technology (Technological) in which the Chinese patent medicine industry is located, so as to provide reference for the market decision-making of the Chinese patent medicine industry;

The five forces analysis method refers to the method of evaluating the internal advantages and disadvantages of the Chinese patent medicine industry by analyzing the five competitive forces of the Chinese patent medicine industry, such as competitors, potential entrants, substitutes, suppliers and buyers, and providing reference for the market decision-making of the Chinese patent medicine industry;

The four-quadrant analysis method refers to the method of analyzing the market growth rate and market share of the Chinese patent medicine industry, and dividing the products or enterprises of the Chinese patent medicine industry into four quadrants, such as stars, problem children, cash cows and thin dogs, to provide reference for the market decision-making of the Chinese patent medicine industry;

Other analytical methods, as well as some other analytical methods, such as value chain analysis, Boston matrix analysis, Ansoff matrix analysis, Porter value chain analysis, profit model analysis, etc., can also be selected according to the specific situation and needs of the analysis method, to provide support for market research in the Chinese patent medicine industry.

The market research tools of the Chinese patent medicine industry mainly include the following:

Documentation tools refer to tools used to collect, sort out, analyze and utilize various documents related to the Chinese patent medicine industry, such as libraries, databases, networks, newspapers, patents, etc;

Statistical data tools refer to tools used to collect, collate, analyze and utilize various statistical data related to the Chinese patent medicine industry, such as statistical yearbooks, statistical bulletins, statistical reports, statistical software, etc;

Questionnaire tools refer to the tools used to design, implement and analyze various questionnaires related to the Chinese patent medicine industry, such as questionnaire design software, questionnaire distribution platform, questionnaire recovery system, questionnaire analysis software, etc;

Interview tools refer to the tools used to implement and analyze various interviews related to the Chinese patent medicine industry, such as interview guides, interview recordings, interview records, interview analysis software, etc;

Observation tools refer to the tools used to implement and analyze various observations related to the Chinese patent medicine industry, such as observation tables, observation videos, observation records, observation and analysis software, etc;

Experimental tools refer to the tools used to implement and analyze various experiments related to the Chinese patent medicine industry, such as experimental design software, experimental equipment, experimental records, experimental analysis software, etc;

Case data tools refer to tools used to collect, organize, analyze and utilize various case data related to the Chinese patent medicine industry, such as case library, case report, case analysis software, etc;

Analytical model tools refer to tools used to analyze and interpret market research data in the Chinese patent medicine industry using various analytical methods and techniques, such as SWOT analysis model, PEST analysis model, five-force analysis model, four-quadrant analysis model, etc.

Steps and Precautions of Market Investigation of 4. Chinese Medicine Industry

The steps of market research in the Chinese patent medicine industry mainly include the following:

Determine the purpose and scope of the market survey, and clarify the theme, object, content, time and place of the market survey;

Design market research programs and methods, select appropriate market research methods and tools, develop market research plans and budgets;

Collect market research data and information, use literature analysis, statistical analysis, survey analysis, case analysis, etc., from various channels and sources, to obtain relevant data and information of the Chinese patent medicine industry;

Analysis of market research data and information, the use of SWOT analysis, PEST analysis, five-force analysis, four-quadrant analysis, etc., the Chinese patent medicine industry market research data and information analysis and interpretation;

Prepare market research reports and recommendations, according to the purpose and scope of market research, including the background, purpose, methods, results,Conclusionrecommendations, etc.

Precautions for market research in the Chinese patent medicine industry mainly include the following:

The purpose and scope of market research should be clear, to avoid deviation from the theme and object of market research, waste of market research resources and time;

The scheme and method of market research should be reasonable, and avoid choosing inappropriate methods and tools of market research, which will affect the efficiency and effect of market research;

The data and information of the market survey should be true, and avoid collecting inaccurate, incomplete, untimely, and irrelevant market survey data and information, which will affect the quality and credibility of the market survey;

The analysis and interpretation of market research should be scientific, avoid using inappropriate analysis methods and techniques, or make unreasonable analysis and interpretation, affecting the objectivity and effectiveness of market research;

Market research reports and recommendations should be concise, to avoid the preparation of too long, too complex, too difficult market research reports and recommendations, affecting the expression and communication of market research.

Market Research Case of 5. Shangpu Consulting Company

Shangpu Consulting Company is a company specializing in market research and consulting in the Chinese patent medicine industry. It has rich industry experience and professional team to provide high-quality market research and consulting services for various customers in the Chinese patent medicine industry. Here are some of the market research examples from Champ Consulting:

It provided a Chinese patent medicine manufacturer with market demand analysis and product positioning strategy market research services. Through the analysis of the scale, structure, characteristics, dynamics and trends of the Chinese patent medicine market, as well as the analysis of the characteristics, needs, preferences, satisfaction and loyalty of Chinese patent medicine consumers, it helped the company determine the target market, target consumers, target products and target prices of Chinese patent medicine, for the enterprise product development and marketing guidance and advice;

It provided a distributor of proprietary Chinese medicine with market research services on channel selection and optimization strategy of proprietary Chinese medicine. Through the analysis of the structure, type, characteristics, efficiency, selection and other aspects of the channel of proprietary Chinese medicine, as well as the analysis of the characteristics, needs, preferences, satisfaction, loyalty and other aspects of the channel of proprietary Chinese medicine, it helped the distributor to choose the appropriate channel type and channel of proprietary Chinese medicine, provides guidance and advice for the distributor's channel management and channel marketing;

It provided a research and development institution of Chinese patent medicine with market research service of analyzing innovation trend and opportunity of Chinese patent medicine. Through the analysis of scientific and technological progress, product innovation, consumer demand and other aspects of Chinese patent medicine industry, as well as the analysis of competitors, potential entrants and substitutes of Chinese patent medicine industry, it helped the research and development institution find the direction and field of Chinese patent medicine innovation, it provides guidance and suggestions for product development and innovation of this research and development institution.