1. clear research objectives

The purpose of market research is to help companies solve problems or seize opportunities. Therefore, before conducting market research, companies need to clarify their research objectives, that is, what kind of information and answers they want to get through research. Research objectives should be clear, quantifiable, feasible and relevant, avoiding overly vague, broad or irrelevant objectives. Clear research objectives help enterprises to choose the right market research company, develop a reasonable research plan, and evaluate the effect of research.

For example, when Champ Consulting conducted market research for an automaker, it identified the following research objectives:

-Understand the needs, preferences, purchase behavior and satisfaction of automotive consumers in the target market;

-Analyze the automotive competitive landscape, market share, growth rate and trends in the target market;

-Assess the opportunities and threats of the automotive market in the target market, as well as the strengths and weaknesses of automakers;

-Propose strategic recommendations and action plans for the automotive market for the target market.

These research objectives are clear, quantifiable, feasible and relevant, and can guide the cooperation between Shangpu Consulting and market research companies.

2. Choosing the Right Market Research Company

The choice of market research company is an important factor affecting the quality of market research, enterprises in the choice of market research company, need to consider the following aspects:

-The professionalism of the market research company: whether the market research company has relevant industry knowledge, experience and resources, and whether it can provide professional research services and suggestions;

-The credibility of the market research company: whether the market research company has a good reputation and reputation, and whether it can ensure the quality of research and customer satisfaction;

-The cooperation of the market research company: whether the market research company can communicate and cooperate effectively with the enterprise, and whether it can adjust and improve according to the needs and feedback of the enterprise;

-The price of the market research company: whether the market research company can provide reasonable price and cost performance, and whether it can save the cost and time of the enterprise while ensuring the quality of the research.

Enterprises can understand and evaluate the situation of market research companies through a variety of channels and methods, such as web search, industry reports, customer reviews, case presentations, bidding invitations, etc. Enterprises can also choose different sizes and types of market research companies according to their own budgets and needs, such as large comprehensive market research companies, small and medium-sized professional market research companies, vertical market research companies, etc.

For example, when conducting market research for an e-commerce platform, Shangpu Consulting chose a market research company focusing on the field of e-commerce. The company has rich knowledge and data of the e-commerce industry and can provide targeted research services and suggestions.

3. develop a reasonable research plan

The research plan is the specific implementation plan of market research, including the scope, method, sample, time and cost of the research. The research plan should be formulated according to the research objectives and the ability of the market research company, not only to ensure the comprehensiveness and depth of the research, but also to consider the feasibility and effectiveness of the research. The research plan should be fully communicated and negotiated between the company and the market research company to reach a consensus and consensus.

For example, when Champ Consulting conducted market research for a restaurant chain brand, it developed the following research plan with the market research company:

-The scope of research: select the three major cities of the target market as the research area, and select catering consumers and catering practitioners as the research objects;

-Research methods: using a combination of quantitative and qualitative methods, using questionnaires, in-depth interviews, mysterious customers and other methods to collect and analyze data;

-Sample of the survey: According to the demographic structure and consumption characteristics of the target market, the sample size and sample structure of the survey are determined using stratified sampling and random sampling methods;

-Time of research: according to the complexity and urgency of the research, formulate the schedule and progress of the research, and determine the start time and end time of the research;

-Cost of research: According to the scale and requirements of the research, estimate the cost and budget of the research, and determine the cost and payment method of the research.

These research plans have been determined after many discussions and modifications between Shangpu Consulting and Market Research, and can meet the expectations and conditions of both parties.

4. guarantee the validity and reliability of data

Data is the core and foundation of market research, and the validity and reliability of data directly affect the results and value of the research. Therefore, enterprises and market research companies need to pay attention to the following aspects in the process of collecting and processing data:

-Source of data: The source of data should be credible, authoritative, impartial and legal, avoiding the use of unreliable, biased, controversial or illegal sources of data;

-Quality of data: the quality of data should be accurate, complete, consistent and timely, avoiding the use of wrong, missing, contradictory or outdated data;

-Data analysis: the analysis of data should be scientific, reasonable, objective and based on, avoid the use of inappropriate, inappropriate, subjective or unfounded data analysis methods and techniques;

-Data interpretation: The interpretation of data should be clear, concise, logical and meaningful, avoiding the use of vague, lengthy, confusing or meaningless data interpretation methods and language.

In the process of collecting and processing data, enterprises and market research companies should carry out regular supervision and evaluation, as well as necessary verification and correction, to ensure the validity and reliability of the data.

For example, when Shangpu Consulting conducted market research for a cosmetics brand, it and the market research company adopted the following measures to ensure the validity and reliability of the data:

-Sources of data: A variety of data sources are used, such as official statistics, industry report data, online public opinion data, consumer survey data, etc., to increase the breadth and depth of data;

-Data quality: data cleaning, data verification, data filling and other methods are used to improve the accuracy and completeness of data;

-Data analysis: the use of data description, data grouping, data association, data modeling and other methods to improve the scientific and reasonable data;

-Data interpretation: Data visualization, data summary, data induction, data inference and other methods are used to improve the clarity and simplicity of the data.

These measures help Champs and market research companies to obtain and use high-quality data, thereby improving the effectiveness of research.

5. in-depth data analysis and interpretation

Data analysis and interpretation is an important part of market research, the purpose of data analysis and interpretation is to extract valuable information and insights from the data, so as to provide useful advice and guidance for enterprises. Data analysis and interpretation should be carried out according to the research objectives and data characteristics, not only to consider the surface phenomena and laws of the data, but also to explore the reasons and effects behind the data. Data analysis and interpretation should be fully communicated and discussed between enterprises and market research companies to reach consensus and understanding.

For example, when conducting market research for an education and training institution, Shangpu Consulting conducted the following data analysis and interpretation with the market research company:

-Surface phenomena and patterns of data: through data description and data grouping, the age, gender, income, education level, occupation and other characteristics of education and training consumers in the target market, as well as their needs, preferences, choices, evaluation and other behaviors for education and training, are found;

-The reasons and effects behind the data: through data correlation and data modeling, analyze the relationship and influencing factors between the characteristics and behavior of education and training consumers in the target market, as well as the competitive situation, opportunities and threats, advantages and disadvantages of the education and training market;

-Data information and insights: through data induction and data inference, extract information and insights on the needs and pain points, preferences and expectations, satisfaction and dissatisfaction of education and training consumers in the target market, as well as trends and changes, potentials and risks, challenges and opportunities in the education and training market;

-Data advice and guidance: based on the information and insights of the data, provide strategic advice and action guidance for the education and training market for the target market for education and training institutions, such as product and service positioning and optimization, price and promotion strategies and methods, The selection and management of channels and distribution, the image and communication of brands and marketing, etc.

These data analysis and interpretation can help Shangpu consulting company and education and training institutions to better understand and grasp the situation and opportunities of the education and training market in the target market, so as to make more effective strategies and decisions.

Conclusion

Market research is an important means for enterprises to obtain market information and insight, but the process and results of market research are not smooth sailing, the need for effective cooperation and collaboration between enterprises and market research companies in order to achieve the maximum value of market research. Taking Shangpu Consulting Company as an example, this paper introduces some skills and methods of Shangpu Consulting in cooperation with market research companies, including clear research objectives, selecting suitable research companies, formulating reasonable research plans, ensuring the validity and reliability of data, and conducting in-depth data analysis and interpretation. These techniques and methods are not only applicable to Shangpu Consulting Company, but also applicable to other enterprises that need to conduct market research. We hope to provide some reference and enlightenment for enterprises, help enterprises to better cooperate with market research companies, and achieve twice the result with half the effort.