Market research is an important basis for enterprises to make strategic decisions, which can help enterprises understand the market demand, competitive situation, consumer behavior, product advantages and other key information, so as to formulate effective marketing strategies and marketing programs. However, in practice, many market research companies will fall into some misunderstandings and traps, resulting in distorted, invalid or impractical research results, and even bring negative effects and losses to enterprises. So, what are the pitfalls and pitfalls of market research companies? How to avoid falling into the appearance, deep essence? This article will be from the perspective of Shangpu consulting, summed up the market research company's eight errors and four traps, and through the Shangpu consulting service customer case analysis, put forward how to avoid falling into the appearance, in-depth nature of the recommendations and methods, in order to market research companies to provide a clear market research framework to help improve the quality and value of market research.

Eight Mistakes of Market Research Companies

Myth 1: The purpose of the research is not clear.

Many market research companies do not have clear and measurable goals when conducting market research. They just want to explore a new market or region to see if there are opportunities or potential, without setting specific time, budget, benefits, risks and other indicators. Such market research often lacks pertinence and effectiveness, and cannot provide valuable information and suggestions for enterprises.

For example, Champu Consulting once provided market entry consulting services for a European auto parts manufacturer. The company wants to enter the Chinese market, but has no clear goals and plans. It just wants to understand the general situation and trends of the Chinese market. After communicating with the company, Shangpu Consulting found that the company has a very limited understanding of the Chinese market, and has not fully analyzed and evaluated the market size, competitors, consumer demand, laws and regulations, and has not made clear positioning and differentiation of its own advantages and disadvantages. Shangpu Consulting recommends that the company clarify its own market entry goals and objectives before conducting market research, and set measurable indicators and standards for targeted market research and strategy formulation.

Misunderstanding 2: improper research methods

There are two ways of market research: field research and copywriting research, which mainly include observation, experimental, questionnaire, street visit, telephone interview, mailing questionnaire and so on. However, in market research, there is often a misunderstanding of improper methods, resulting in invalid research results, mainly in the following two points: the use of qualitative description of the method but to take a quantitative approach; the use of questionnaires but to take the method of observation.

In general, quantitative methods include observation, experimentation, and interviews; qualitative methods mainly include deep interviews and projection techniques. Observation and in-depth interviews are suitable for exploratory research, questionnaires are suitable for qualitative methods, and experimental methods are formal research methods. In practice, the research on the sales of competing products can be carried out by observation or visiting the terminal, but it is not necessary to use the questionnaire method, while the research and development of new products requires market research through the questionnaire method.

For example, Champ Consulting once provided new product development consulting services for a domestic food manufacturer. The company wants to develop a health food for the elderly, but it has not conducted sufficient market research. It only understands the eating habits and health needs of the elderly through observation, and does not collect the expectations and expectations of the elderly for new products through questionnaires. Acceptance, and no experimental method to test the effect and safety of new products. Shangpu Consulting recommends that the company conduct comprehensive market research before developing new products, and adopt appropriate methods to collect and analyze data in order to provide strong support for the design and promotion of new products.

Misunderstanding three: and marketing out of touch

The purpose of market research is to provide a basis for the marketing decision-making of enterprises, but many market research companies are out of touch with marketing when conducting market research, and do not design and analyze the research results from the perspective of marketing, resulting in the research results can not provide effective guidance and suggestions for the marketing strategies and programs of enterprises.

For example, Champ Consulting once provided market research services for an international cosmetics brand. The brand wants to understand the perceptions and attitudes of Chinese consumers towards its products in order to develop appropriate market positioning and marketing strategies. When conducting market research, Shangpu Consulting not only collected consumers' awareness, awareness, preference and other data of the brand, but also deeply analyzed consumers' purchase motivation, purchase process, satisfaction and loyalty after purchase, so as to provide a complete consumer portrait and consumer journey map for the brand, and help the brand find its core target group and differentiation advantage in the Chinese market, and how to attract and retain consumers through the right marketing mix.

Myth 4: Research is far from reality

The purpose of market research is to solve practical problems and challenges, but many market research companies are far away from reality when conducting market research. They only carry out theoretical analysis and derivation, without considering the complexity and variability of the market, and without combining the actual situation and resources of the enterprise. As a result, the research results cannot provide feasible plans and suggestions for the actual operation of the enterprise.

For example, Champ Consulting once provided market research services for an e-commerce platform in the United States. The platform wants to enter the Chinese market, but it has not conducted sufficient market research. It only understands the development and characteristics of China's e-commerce market through the Internet and literature. It has not conducted field research and interviews, nor has it considered Chinese culture, policies, Factors such as consumer behavior, as well as its own competitiveness and advantages. Shangpu Consulting suggests that when conducting market research, the platform should conduct multi-dimensional and multi-channel data collection and analysis in order to provide it with a market entry strategy and marketing plan in line with the Chinese market.

Myth 5: Inaccurate data

Data is the foundation and core of market research, but many market research companies use inaccurate data when conducting market research, resulting in distorted and misleading research results. The reasons for the inaccurate data are as follows: unreliable data sources, irregular data collection, unscientific data processing, and unobjective data analysis.

Unreliable data sources mean that the market research company uses outdated, incomplete, untrue or irrelevant data, or uses data that does not meet the purpose and target of the research. For example, outdated statistics are used, incomplete market reports are used, false network data are used, international data that is not applicable to the local market is used, etc.

Data collection is not standardized, refers to the market research company in the data collection, did not follow the scientific methods and processes, or did not control the quality and quantity of data. For example, there is no clear type and scope of data, no design of appropriate research tools and questionnaires, no selection of appropriate samples and sampling methods, no effective data cleaning and verification.

Unscientific data processing refers to the fact that market research companies do not use appropriate tools and techniques when processing data, or do not correctly handle the relationship and structure of data. For example, there is no use of professional data analysis software, no use of appropriate data analysis models and methods, no correct classification and integration of data, no correct establishment and verification of data assumptions and associations.

Data analysis is not objective, which means that market research companies do not follow objective principles and standards when conducting data analysis, or do not consider the limitations and uncertainties of the data. For example, there is no analysis of data from multiple angles and dimensions, no comparison and verification of data consistency and credibility, no consideration of data deviations and errors, no consideration of data changes and trends, etc.

For example, Champ Consulting once provided market research services for a domestic clothing brand. The brand wants to understand the needs and preferences of its target consumers in order to develop an appropriate product and pricing strategy. When conducting market research, Shangpu Consulting found that the brand used inaccurate data, resulting in distorted and misleading research results. The brand used outdated statistical data and did not reflect the latest changes and dynamics of the market; used incomplete market reports and did not cover all segments and levels of the market; used false network data and did not consider the authenticity and representativeness of the network data; used international data that is not applicable to the local market and did not consider the particularity and difference of the local market. Shangpu Consulting recommends that the brand use accurate data when conducting market research, obtain data from reliable data sources, collect and process data in a standardized manner, and scientifically analyze and interpret data in order to provide it with a true market research results. And recommendations.

Myth 6: The results are not clear

The results of market research are to provide basis and suggestions for the decision-making of enterprises. However, when many market research companies present the results of market research, they do not clearly express and demonstrate the purpose, method, process, results and conclusions of the research, which makes the research results difficult to understand and apply, and even causes misunderstanding and doubts. The reasons for the unclear results are as follows: the report structure is unreasonable, the content of the report is incomplete, the report language is not smooth, and the report chart is not intuitive.

The unreasonable structure of the report refers to the fact that the market research company did not follow the scientific logic and sequence when preparing the market research report, or did not highlight the key points and key information. For example, the purpose and scope of the report were not clearly defined, the main contents and conclusions of the report were not outlined, the chapters of the report were not organized according to the steps and stages of the investigation, and the significance and value of the report were not summarized.

The report is incomplete, meaning that the market research company did not include all the necessary information and details when preparing the market research report, or did not provide sufficient evidence and support. For example, there is no introduction to the background and reasons for the research, no description of the methods and tools of the research, no presentation of the data and analysis of the research, no presentation of the researchConclusionand recommendations, etc.

The report language is not smooth, refers to the market research company in the preparation of market research reports, did not use clear language and expression, or did not follow the standard format and style. For example, there is no use of concise sentences and vocabulary, no use of appropriate tone and attitude, no use of correct grammar and spelling, no use of uniform terminology and symbols.

The report chart is not intuitive, which means that the market research company did not use the appropriate charts and graphs when preparing the market research report, or did not effectively present and explain the charts and graphs. For example, there is no chart type selected to fit the data, no chart title and annotations, no chart emphasis and trends, no chart analysis and description, etc.

For example, Champ Consulting once provided market research services for a foreign tourism platform. The platform wants to understand the needs and characteristics of China's tourism market in order to develop appropriate products and services. After conducting market research, Shangpu Consulting provided a clear market research report for the platform, which followed the following structure and content

Summary of the report: Outlines the purpose, methodology, findings and conclusions of the report, highlighting the focus and value of the report.

Background of the report: introduces the background and reasons of the research, explains the objectives and scope of the research, and defines the objects and problems of the research.

Reporting Methods: Describes the methods and tools of the survey, describes the process and steps of the survey, and demonstrates the sample and sampling methods of the survey.

Report results: Shows the data and analysis of the survey, uses appropriate charts and graphs, compares and verifies the consistency and credibility of the data, considers the deviation and error of the data, and considers the changes and trends of the data.

Report conclusion: The conclusions and recommendations of the survey are given, the data are analyzed from multiple angles and dimensions, the limitations and uncertainties of the data are considered, and strategies and solutions for products and services for the Chinese tourism market are proposed.

Appendix to the report: provides relevant information and references for the survey, including questionnaires, interviews, data sources, data analysis software, data analysis models and methods.

Myth 7: No follow-up

The results of market research are to provide basis and suggestions for the decision-making of enterprises, but many market research companies have not effectively communicated and followed up with enterprises after completing the market research, resulting in the research results can not provide continuous support and optimization for the decision-making and implementation of enterprises. There are several reasons for not following up: no timely feedback, no regular updates, no continuous optimization, and no evaluation effect.

No timely feedback, refers to the market research company in the completion of market research, did not timely feedback and delivery of research results to the enterprise, or did not fully explain and explain the research results, resulting in the enterprise can not understand and use the research results in a timely manner, or the results of the research have questions and dissatisfaction.

Not updated regularly means that the market research company does not regularly provide the latest developments and changes in the market to the enterprise after completing the market research, or does not revise and supplement the research results according to the latest developments and changes in the market. as a result, the research results lose timeliness and adaptability, or do not conform to the actual situation of the market.

No continuous optimization means that after the market research company completes the market research, it fails to improve and perfect the research results according to the feedback and suggestions of the enterprise, or fails to adjust and customize the research results according to the actual needs and resources of the enterprise, resulting in the research results not meeting the expectations and requirements of the enterprise, or not adapting to the actual situation and ability of the enterprise.

No evaluation effect means that the market research company did not evaluate and test the effectiveness and value of the research results after completing the market research, or did not jointly formulate and implement the evaluation and inspection methods and standards with the enterprise, resulting in the research results failing to provide reliable basis and proof for the decision-making and implementation of the enterprise, or failing to provide effective feedback and improvement for the decision-making and implementation of the enterprise.

For example, Champ Consulting once provided market research services for a domestic educational institution. The agency wants to understand the needs and competition in its target market in order to develop appropriate product and pricing strategies. After completing the market research, Shangpu Consulting not only timely fed back and delivered the research results to the institution, but also regularly provided the institution with the latest developments and changes in the market. According to the latest developments and changes in the market, the research results were revised and supplemented. According to the feedback and suggestions of the institution, the research results were improved and perfected. According to the actual needs and resources of the institution, the research results were adjusted and customized, and the evaluation and testing methods and standards were jointly formulated and implemented with the agency, and the validity and value of the research results were evaluated and tested, providing continuous decision-making and implementation for the agency Support and optimization.

Myth 8: No innovation

The results of market research are to provide basis and suggestions for the decision-making of enterprises. However, many market research companies do not show innovative thinking and ability when conducting market research. They just repeat and imitate the existing market research methods and results, resulting in the lack of new ideas and value of the research results, and even do not match the actual needs and changes of the market. There are several reasons for the lack of innovation: no exploration of new problems, no experimentation with new methods, no discovery of new insights, and no new proposals.

Failure to explore new problems means that when conducting market research, the market research company did not put forward new problems and assumptions according to the changes and development of the market, or did not put forward new problems and assumptions according to the needs and objectives of the enterprise. as a result, the problems and assumptions of the research are too old and single to reflect the real situation and potential opportunities of the market.

Not trying new methods means that when conducting market research, the market research company did not select and design new methods and tools according to the characteristics and requirements of the problems and assumptions, or did not select and use new methods and tools according to the characteristics and requirements of the data and analysis, resulting in the research methods and tools being too traditional and fixed to collect and process data effectively, the data cannot be analyzed and interpreted effectively.

No new insight is found, which means that when the market research company conducts market research, it does not discover and excavate new insights and discoveries according to the results of data and analysis, or does not discover and excavate new insights and discoveries according to the results of insights and discoveries, which leads to the insipid and superficial insights and discoveries of research, and cannot deeply understand the essence and laws of the market, not in-depth understanding of consumer needs and behavior.

No new suggestions are put forward, which means that when the market research company conducts market research, it does not put forward and recommend new suggestions and plans according to the results of insight and discovery, or does not put forward and recommend new suggestions and plans according to the results of suggestions and plans, resulting in the research suggestions and plans being too common and vague to effectively solve the problems and challenges of the market, can not effectively seize the market opportunities and advantages.

For example, Champ Consulting once provided market research services for an international fast-food brand. The brand wants to understand the needs and characteristics of the FMC market in China in order to develop appropriate product and marketing strategies. When conducting market research, Shangpu Consulting showed innovative thinking and ability, not only put forward new problems and assumptions, selected and designed new methods and tools, found and excavated new insights and discoveries, put forward and recommend new suggestions and schemes, but also constantly updated and optimized problems and assumptions, methods and tools according to the changes and development of the market, insights and findings, recommendations and solutions provide the brand with innovative and valuable market research results and recommendations.