market research company4P Marketing Theory and Application

Market research company is a professional service organization that provides market information and market insight for enterprises. Its main business includes market research, market analysis, market forecasting, market consulting, market planning, etc. One of the core competencies of market research companies is to use data mining and analysis technology to extract valuable information and knowledge from massive market data, so as to provide effective market insight and decision support for enterprises. The customers of market research companies cover various industries and fields, such as e-commerce, education, medical care, finance, automobile, tourism, FMCG, etc. Market research companies need to formulate and implement effective marketing mix strategies according to different customer needs and market environment, so as to enhance their brand awareness, customer satisfaction and market share.

Marketing mix is an important concept in modern marketing theory, which refers to the process of enterprises adapting to the external environment by using internal controllable factors, that is, making positive and dynamic responses to external uncontrollable factors (such as politics, law, economy, humanities, etc.) through the planning and implementation of products, prices, channels and promotions, so as to promote the realization of transactions and meet the target needs of enterprises, at its core is the development and implementation of an effective marketing mix. The classical theory of marketing mix is the 4P marketing theory, that is, the combination of product (Product), price (Price), channel (Place) and promotion (Promotion), which was put forward by Jerome McCarthy in 1960 and is considered to be the basic task of marketing management. The meaning and function of 4P marketing theory are as follows:

Product (Product): The product represents the combination of goods and services provided by the company to the target market, including quality, brand, specifications, style, features, services, etc. Product factors mainly refers to the design, creation and maintenance of a product, service or concept, the core issue is how to meet the needs of the target customer. This includes decisions about the attributes, packaging, and branding of a single product, as well as product lines and product portfolios for multiple products. Products are the basis of marketing activities, if there is no product, marketing has become a source of water, no wood.

Price: The price represents the amount that the consumer must pay to obtain the product, including the basic price, discounts, allowances, installments and credit terms. Price matters because it is the most aggressive means of the marketing mix. When an organization is under competitive pressure, it is often used as the primary competitive tool because price adjustments are easier than other factors. However, price wars are easy to cause both losses, often contrary to the original intention of enterprises to reduce prices to drive sales, so competitors should be cautious.

Channel (Place): The channel represents the various activities carried out by the company to get the products to the target customers, including channels, locations, inventory, transportation, etc. Because channel adjustments are difficult relative to other marketing mix factors, marketers must carefully select channel members and manage them appropriately. The role of the channel is to sell the product well, is the bridge between the product and the consumer, is the link between the enterprise and the market.

Promotion (Promotion): Promotion represents the various activities undertaken by a company to promote the advantages of its products and to persuade target customers to buy. Including four forms: advertising, personnel sales, business promotion and public relations. The role of promotion is to make products sell well, to improve product visibility and purchase intention, and to communicate between enterprises and consumers.

Guided by 4P marketing theory, this paper discusses how market research companies can formulate and implement effective marketing mix strategies, including product strategy, price strategy, channel strategy and promotion strategy, according to different customer needs and market environment. Taking three industries as examples, namely, e-commerce industry, education industry and medical industry, this paper analyzes the specific marketing strategies and practical cases of market research companies in these three industries, and shows the effect and value of 4P marketing theory and application of market research companies.

1. E-commerce industry: product strategy, price strategy, channel strategy, promotion strategy

The e-commerce industry is one of the fastest growing industries in recent years and one of the important customers of market research companies. The main business of the e-commerce platform is to provide online shopping, payment, logistics and other services through the Internet. One of its core competitiveness is to use big data technology to analyze user behavior, preferences, needs, etc., so as to provide personalized product recommend, price concessions, distribution methods, etc. The main service provided by market research companies for e-commerce platforms is to help them understand the market size, competitive landscape, consumer characteristics, consumer satisfaction, consumer loyalty, etc., so as to formulate and optimize marketing strategies for them and increase their market share and profitability. The 4P marketing theory and application of market research companies are as follows:

Product strategy: The product strategy of the market research company is to provide customized market research services according to the different needs of the e-commerce platform, including market research, market analysis, market forecasting, market consulting, market planning, etc. The products of the market research company are professional, efficient, accurate and innovative, which can provide comprehensive, in-depth and timely market information and market insight for the e-commerce platform. The product advantage of market research companies is to use data mining and analysis technology to extract valuable information and knowledge from massive market data, so as to provide effective market insight and decision support for e-commerce platforms. The product goal of the market research company is to help e-commerce platforms understand the market size, competitive landscape, consumer characteristics, consumer satisfaction, consumer loyalty, etc., so as to formulate and optimize marketing strategies for them, and increase their market share and profitability.

Price Strategy: The price strategy of the market research company is to provide reasonable price pricing according to the different needs of the e-commerce platform, including cost-plus method, demand-oriented method, competition-oriented method, value-oriented method, etc. The price factor of the market research company is to consider the cost, demand, competition and value of the market research service, as well as the budget, expectation and ability to pay of the e-commerce platform. The price purpose of market research companies is to meet the needs and expectations of e-commerce platforms, increase the willingness and loyalty of e-commerce platforms, and improve the market share and competitiveness of market research services while ensuring their own profits and returns.

Channel strategy: The channel strategy of the market research company is to provide convenient and efficient channels and methods according to the different needs of the e-commerce platform, including online channels, offline channels, direct channels, indirect channels, etc. The channel factor of the market research company is to consider the characteristics, objectives, content and form of the market research service, as well as the preferences, habits and feedback of the e-commerce platform. The channel purpose of the market research company is to improve the coverage and dissemination rate of the market research service, increase the visibility and reputation of the market research service, and improve the influence and attractiveness of the market research service while ensuring the quality and effectiveness of the market research service.

Promotion strategy: The promotion strategy of the market research company is to provide various promotion activities and means according to the different needs of the e-commerce platform, including advertising, public relations, promotion, gifts, coupons, membership cards, etc. The promotional factors of the market research company are to consider the objectives, information, media and timing of the market research service, as well as the needs, feelings and reactions of the e-commerce platform. The purpose of the market research company's promotion is to increase the awareness and attitude of the market research service, increase the trial and repeat purchase of the market research service, and improve the loyalty and recommend of the market research service while ensuring the authenticity and credibility of the market research service.

Product strategy: The product strategy of the market research company is to provide customized market research services according to the different needs of the medical platform, including market research, market analysis, market forecasting, market consulting, market planning, etc. The market research company's products are professional, efficient, accurate and innovative, and can provide comprehensive, in-depth and timely medical information and medical insights for the medical platform. The product advantage of market research company is to use data mining and analysis technology to extract valuable information and knowledge from massive medical data, so as to provide effective medical insight and decision support for medical platform. The product goal of the market research company is to help medical platforms understand the scale of the medical market, competitive landscape, user characteristics, user satisfaction, user loyalty, etc., so as to formulate and optimize medical marketing strategies for them, and improve their medical quality and medical effectiveness.

Price Strategy: The price strategy of the market research company is to provide reasonable price pricing according to the different needs of the medical platform, including cost-plus method, demand-oriented method, competition-oriented method, value-oriented method, etc. The price factor of the market research company is to consider the cost, demand, competition and value of the market research service, as well as the budget, expectation and ability to pay of the medical platform. The price purpose of market research companies is to meet the needs and expectations of medical platforms while ensuring their own profits and returns, increase the willingness and loyalty of medical platforms, and increase the market share and competitiveness of market research services.

Channel strategy: The channel strategy of the market research company is to provide convenient and efficient channels and methods according to the different needs of the medical platform, including online channels, offline channels, direct channels, indirect channels, etc. The channel factor of the market research company is to consider the characteristics, objectives, content and form of the market research service, as well as the preferences, habits and feedback of the medical platform. The channel purpose of the market research company is to improve the coverage and dissemination rate of the market research service, increase the visibility and reputation of the market research service, and improve the influence and attractiveness of the market research service while ensuring the quality and effectiveness of the market research service.

Promotion strategy: The promotion strategy of the market research company is to provide various promotion activities and means according to the different needs of the medical platform, including advertising, public relations, promotion, gifts, coupons, membership cards, etc. The marketing factors of the market research company are to consider the objectives, information, media and timing of the market research service, as well as the needs, feelings and reactions of the medical platform. The purpose of the market research company's promotion is to increase the awareness and attitude of the market research service, increase the trial and repeat purchase of the market research service, and improve the loyalty and recommend of the market research service while ensuring the authenticity and credibility of the market research service.

Conclusion

Market research company is a professional service organization that provides market information and market insight for enterprises in various industries and fields. One of its core competitiveness is to use data mining and analysis technology to extract valuable information and knowledge from massive market data. Guided by 4P marketing theory, this paper discusses how market research companies can formulate and implement effective marketing mix strategies, including product strategy, price strategy, channel strategy and promotion strategy, according to different customer needs and market environment. Taking three industries as examples, namely, e-commerce industry, education industry and medical industry, this paper analyzes the specific marketing strategies and practical cases of market research companies in these three industries, and shows the effect and value of 4P marketing theory and application of market research companies. The research of this paper has certain reference value and enlightenment significance for the marketing theory and practice of market research company.