The concept and significance of 1. market research

Market research refers to the use of scientific methods, purposefully and systematically collect, record and organize relevant marketing information and data, analyze the market situation, understand the current situation of the market and its development trend, and provide objective and correct information for market forecasting and marketing decisions. Market research is an important part of marketing, but also the basis and premise of marketing, it can help enterprises understand the market demand, competition, opportunities and risks, formulate reasonable market objectives, strategies and plans, evaluate the effect of marketing activities and improvement measures, improve the efficiency and effectiveness of marketing.

The significance of market research is mainly reflected in the following aspects:

Market research can help companies discover and grasp market opportunities, predict market changes in advance, formulate targeted market strategies, and enhance market competitiveness and adaptability.

Market research can help companies understand and meet consumer needs and preferences, improve the quality and value of products and services, and increase consumer satisfaction and loyalty.

Market research can help companies understand and analyze the strengths and weaknesses of their competitors, develop effective competitive strategies, and achieve differentiation and dominance.

Market research can help enterprises understand and follow the changes and laws of the market environment, such as policy, law, economy, society, culture, technology, etc., to reduce market risks and improve market efficiency.

Classification and characteristics of 2. market research

The types and characteristics of market research depend on the purpose, content, scope and time of the research. Different types of market research have different methods, techniques and effects. According to the purpose of market research, market research can be divided into the following four basic types: exploratory research, descriptive research, causal research and predictive research.

1. Probing research

Probe research refers to the informal investigation conducted in order to find out the problem, find out the crux of the problem, and clarify the specific content and focus of further in-depth investigation when the market situation is not very clear. Detective research is generally not as rigorous and detailed as formal investigations. Generally, detailed investigation plans are not formulated to save time as much as possible in order to find problems quickly. It mainly uses readily available historical, operational and accounting information, or available secondary information such as statistical data published by the Government, long-term planning and research reports from academic institutions, or invites experts, scholars and professionals familiar with business activities to conduct preliminary research on market-related issues.

The characteristics of exploratory research mainly include the following aspects:

The purpose of exploratory research is to discover ideas and insights, and is often used in the prior phase of survey program design to make the necessary preparations and attempts for a formal survey.

The method of exploratory research is more flexible, can use a variety of survey methods, such as observation, access, questionnaire, etc., can also use small sample observation, multi-round survey, not necessarily emphasize the representativeness of the sample.

The analysis of data from exploratory research is primarily qualitative, and the results of the survey are generally tentative and temporary in order to help investigators recognize and understand the problems they face and open the way for further formal research.

The application scenarios of exploratory research mainly include the following aspects:

When the market problem is not clear and the goal, scope and content of the investigation need to be further clarified, exploratory research can be carried out to provide direction and basis for follow-up investigation.

When market issues are complex and need to be analyzed from multiple perspectives and levels, exploratory research can be conducted to provide ideas and frameworks for subsequent investigations.

When market problems are novel and require creative solutions, exploratory research can be conducted to provide inspiration and creativity for subsequent investigations.

Cases of exploratory research:

Shangpu Consulting once provided exploratory research services for an emerging e-commerce platform, which mainly provides one-stop services such as online transactions, logistics, and finance for small and medium-sized enterprises. By collecting and analyzing industry reports, policy documents, competitors' information, as well as visiting industry experts, scholars, small and medium-sized business owners, etc., Shangpu Consulting conducted a preliminary evaluation and suggestion on the market positioning, target customers, competitive advantage and development potential of the platform, which provided a reference for the subsequent market strategy and operation planning of the platform.

Champu Consulting has provided exploratory research services to a well-known automobile manufacturer. The manufacturer plans to develop a new type of smart electric vehicle to meet future market needs. By collecting and analyzing information on the technological development, market trends, consumer demand and competitive landscape of smart electric vehicles, as well as visiting experts, engineers, designers and users in the automotive industry, Shangpu Consulting has made preliminary exploration and suggestions on the manufacturer's product innovation, market positioning, competition strategy and risk assessment, It provides guidance for the manufacturer's follow-up product development and market promotion.

2. Descriptive research

Descriptive research refers to the formal, systematic and quantitative investigation conducted when the market problem has been clearly defined and needs to be described and analyzed in detail about the current situation, characteristics, scale, structure and changes of the market. Descriptive research generally requires the development of a detailed survey plan, including the purpose, content, method, sample, time, budget, etc. of the survey to ensure the effectiveness and accuracy of the survey. It mainly uses first-hand information, that is, through questionnaires, interviews, observations and other methods designed by the investigators themselves, directly from the original data collected from the market for research, and can also be supplemented and compared with second-hand data.

Descriptive research is characterized by the following aspects:

The purpose of descriptive research is to describe and analyze the current situation and characteristics of the market, and is often used to investigate the mid-stage of program design to provide the necessary information and basis for market decision-making.

The method of descriptive research is relatively strict, which requires the use of scientific investigation methods, such as sampling survey method, experimental method, factor analysis method, etc., as well as large sample survey and multi-indicator measurement to ensure the representativeness of the sample and the reliability of the data.

The analysis of descriptive research data is mainly quantitative, and the results of the survey are generally objective, accurate and statistically significant to help investigators describe and explain market phenomena and laws and provide support for market decision-making.

The application scenarios of descriptive research mainly include the following aspects:

When market problems are clear and quantitative measurement and analysis of market size, structure, distribution, change, etc. are needed, descriptive research can be conducted to provide data and evidence for market decision-making.

When market issues involve consumer behavior, attitudes, preferences, satisfaction, etc., descriptive research can be conducted to provide reference and feedback for market decision-making.

When market issues involve competitors' strategies, dynamics, strengths, and weaknesses, descriptive research can be conducted to provide a basis and reference for market decision-making.

descriptive case of research:

Champu Consulting has provided descriptive research services for an internationally renowned fast food chain brand that plans to expand its business scale and market share in the Chinese market. Through designing and distributing a large number of questionnaires, Shangpu Consulting conducted a comprehensive investigation and analysis on the characteristics, behaviors, attitudes, preferences and satisfaction of fast food consumers in the Chinese market, as well as conducted in-depth research and comparison on the strategies, dynamics, advantages and disadvantages of the brand's competitors, it provides detailed data and suggestions for the brand's market positioning, product strategy, price strategy, promotion strategy, channel strategy, etc.

Shangpu Consulting has provided descriptive research services for a leading online education platform in China, which mainly provides online courses and tutoring services for primary and secondary school students. Through designing and implementing a series of experiments, Shangpu Consulting has systematically measured and analyzed the learning effect, learning habits, learning needs and learning satisfaction of users of the online education platform, and has comprehensively evaluated and improved the teaching content, teaching methods, teaching quality and teaching evaluation of the platform, it provides a scientific basis and guidance for the teaching innovation, teaching optimization and teaching effect of the platform.

3. Causality research

Causal research refers to the formal, systematic and quantitative investigation conducted to determine the existence, direction and strength of the causal relationship between market variables when the market problem involves the causal relationship between market variables. Causality research generally requires the development of a rigorous survey plan, including the purpose of the survey, assumptions, variables, methods, samples, time, budget, etc., to ensure the effectiveness and accuracy of the survey. It mainly uses first-hand data, that is, through experiments, simulations, regressions, etc. designed by the investigators themselves, directly from the original data collected from the market for research, and can also be supplemented and compared with second-hand data.

The characteristics of causal research mainly include the following aspects:

The purpose of causal research is to determine and verify the causal relationship between market variables, and is often used in the ex post phase of survey program design to provide the necessary basis and support for market decision-making.

The method of causal research is more complex, need to use scientific investigation methods, such as experimental method, simulation method, regression analysis method, but also need to use the control variable method, random distribution method, double-blind method, etc., to ensure the validity and credibility of the causal relationship.

The analysis of the data of causal research is mainly quantitative, and the results of the survey are generally objective, accurate and statistically significant to help the investigator determine and verify the causal relationship between market variables and provide the basis and support for market decision-making.

The application scenarios of causal research mainly include the following aspects:

When the market problem involves the causal relationship between various variables of marketing, such as product characteristics, price level, promotion activities, channel selection, etc. on market demand, market share, market profit, etc., causal research can be carried out to provide basis and support for market decision-making.

When market problems involve the causal relationship between various variants of the market environment, such as the impact of policy, law, economy, society, culture, technology, etc. on market demand, market competition, market opportunities, market risks, etc., causal research can be carried out to provide basis and support for market decision-making.

When market issues involve market forecasting and simulation, such as predicting market trends, simulating market changes, assessing the potential value of the market, etc., causal research can be conducted to provide the basis and support for market decision-making.

cases of causal research:

Shangpu Consulting once provided causal research services for a leading domestic mobile communication operator. The operator plans to launch a new package to attract more users and increase more revenue. Through designing and implementing a series of experiments, Shangpu Consulting has systematically measured and analyzed the impact of various variables such as the price, traffic, calls, and short messages of the package on the selection, use, and satisfaction of users, and systematically predicted and simulated the impact of the market demand, market share, and market profit of the package, it provides a scientific basis and guidance for the operator's package strategy, pricing strategy, and promotion strategy.

Shangpu Consulting once provided causal research services for an internationally renowned cosmetics brand. The brand plans to launch a new skin care product in the Chinese market to meet the beauty needs of Chinese women. Through designing and implementing a series of experiments, Shangpu Consulting has systematically measured and analyzed the influence of various variables such as the composition, efficacy, packaging and fragrance of the product on users' cognition, attitude, preference and purchase intention, and systematically predicted and simulated the influence of the market demand, market share and market profit of the product, it provides a scientific basis and guidance for the brand's product strategy, pricing strategy, and promotion strategy.

4. Predictive research

Predictive research refers to the formal, systematic and quantitative investigation conducted in order to predict the future trend, demand, opportunity, risk, etc. of the market when the market problem involves the future development and change of the market. Predictive research generally requires the development of a rigorous survey program, including the purpose of the survey, assumptions, variables, methods, samples, time, budget, etc., to ensure the effectiveness and accuracy of the survey. It mainly uses first-hand information, that is, through questionnaires, interviews, observations and other methods designed by the investigators themselves, directly from the original data collected from the market for research, and can also be supplemented and compared with second-hand data.

Predictive research is characterized by the following:

The purpose of predictive research is to predict and simulate the future development and changes of the market, and is often used in the post-event stage of the design of the survey plan to provide the necessary basis and support for market decision-making.

The method of predictive research is more complex, which requires the use of scientific survey methods, such as trend extrapolation, scenario analysis, Delphi method, Markov chain method, etc., as well as the use of multiple data sources, multiple prediction methods, and multiple prediction results for synthesis and comparison to ensure the validity and credibility of the prediction.

The analysis of predictive research data is mainly quantitative, and the results of the survey are generally objective, accurate and statistically significant to help investigators predict and simulate the future development and changes of the market and provide basis and support for market decision-making.

The application scenarios of predictive research mainly include the following aspects:

When market issues involve the future development and changes of the market, such as predicting market demand, competition, opportunities, risks, etc., predictive research can be conducted to provide basis and support for market decision-making.

When market issues involve market uncertainty and complexity, such as predicting the possible scenarios of the market, the probability of change, the degree of impact, etc., predictive research can be conducted to provide the basis and support for market decision-making.

When market issues involve market innovation and forward-looking, such as predicting new market demands, new products, new technologies, etc., predictive research can be conducted to provide basis and support for market decisions.

Cases of Predictive Research:

Shangpu Consulting once provided predictive research services for a leading domestic Internet company. The company plans to enter the field of artificial intelligence in the next five years to seize market opportunities and enhance competitiveness. Shangpu Consulting systematically predicts and simulates the future development and changes of artificial intelligence by collecting and analyzing information on the technological development, market trends, consumer demand, and competitive landscape of artificial intelligence, as well as designing and distributing a large number of questionnaires. It provides detailed data and suggestions for the company's artificial intelligence strategy, product planning, technical investment, and market promotion.

Shangpu Consulting has provided predictive research services for an internationally renowned travel company. The company plans to explore the Chinese market in the next ten years to take advantage of China's tourism potential and consumption power. By collecting and analyzing the information of China's tourism policy, law, economy, society, culture, technology and so on, and designing and implementing a series of experiments, Shangpu Consulting has systematically predicted and simulated China's tourism demand, tourism preference, tourism consumption and tourism satisfaction, it provides scientific basis and guidance for the company's Chinese market strategy, product strategy, price strategy, promotion strategy, channel strategy, etc.

Conclusion

Market research is a scientific working method, which aims to provide professional solutions for enterprise strategic decision-making. The types and characteristics of market research depend on the purpose, content, scope and time of the research. Different types of market research have different methods, techniques and effects. Taking Shangpu Consulting as an example, this paper introduces four basic types of market research: probing research, descriptive research, causal research and predictive research, analyzes their definitions, characteristics, methods and application scenarios, and shows some specific market research cases in order to provide reference for the practice and theory of market research.

This paper holds that the types and characteristics of market research are diverse, and it is necessary to choose the appropriate type and method of market research according to the different characteristics and needs of market problems in order to achieve the best market research effect. At the same time, the types and characteristics of market research are dynamic, and they need to be constantly innovative and improved with the changes in the market environment and the development of marketing to adapt to the new challenges and opportunities of the market.

This paper hopes that through the introduction and analysis of the types and characteristics of market research, it can help market research practitioners and learners to better understand and master the basic knowledge and skills of market research, and use the tools and methods of market research more effectively to provide professional solutions for the market strategy decision-making of enterprises. At the same time, this paper also hopes to arouse the attention and research in the relevant fields of market research, and contribute to the development and progress of the theory and practice of market research.