Market research is a service that provides customers with valuable information and insight. It can help customers understand the current situation, trends, opportunities and challenges of the market, so as to make effective strategies and decisions. Market research can cover various industries, fields, topics and issues, such as consumer behavior, brand image, product development, competitive analysis, market forecasting, satisfaction surveys, etc. Market research can use different methods and tools, such as questionnaires, interviews, observations, experiments, data analysis, etc.

As a professional organization providing such services, market research companies are facing the dual pressures of market changes and changes in customer needs, and need to constantly innovate and improve their service models, methods and tools to maintain competitiveness and meet customer expectations. According to the Global Market Research Association (ESOMAR) published2023Global Market Research Industry Report, Global Market Research Industry in2023year realized.4.5%The growth rate of$76.7The size of $100 million in revenue. However, this growth rate is lower2022of the year5.8%It reflects that the market research industry is facing multiple challenges from the internal and external environment. These include:

uncertainty and complexity of the market environment. Due to the influence of globalization, digitization, socialization and other factors, the market environment presents the characteristics of change, diversity and diversity. This requires market research companies to quickly capture and adapt to market changes and provide timely, accurate and in-depth information and insight.

Diversity and high standards of customer needs. Due to the differences in customer's knowledge level, experience background, target expectations, etc., customer demand for market research services is also showing a trend of diversification. Customers need not only basic data and analysis, but also more customized, integrated and consulting services. At the same time, customers also put forward higher standards for the quality, efficiency, cost and innovation of market research services.

The increase and strengthening of competitors. The threshold of market research industry is relatively low, which leads to the increase of competitors. In addition to traditional market research companies, there are some emerging market research platforms, data analysis companies, consulting companies, etc., which also provide similar or related services. These competitors may have stronger technical capabilities, cost advantages, and innovation capabilities, which pose a threat to market research companies.

In the face of these challenges, how can market research companies adapt to market changes and changes in customer needs? This paper takes Champu Consulting as an example to analyze four aspects of how market research companies adapt to market changes and changes in customer needs:1) Provide customized and integrated services;2) Using digitalization and artificial intelligence technology to improve service efficiency and quality;3) Establish long-term and trusting customer relationships;4) Cultivate a professional and diversified talent team.

Champ Consulting is an international market research firm headquartered in London, founded in1998Year. Champ Consulting has more500Employees, all over20countries and regions. Champ Consulting for Global Over1000Home customers provide market research services of all types and sizes. Champ Consulting enjoys a good reputation in the market research industry and has received many international and regional awards and certifications.

1) Provide customized and integrated services

Champ Consulting recognizes that each client has its own unique needs and expectations. Therefore, Champ Consulting is committed to providing customized and integrated services to each client. Customization means that Champ Consulting will design and implement market research programs suitable for the client according to the client's specific objectives, problems, budget and other factors. Integration means that Champ Consulting will analyze and solve customer problems from multiple angles, levels and dimensions, providing comprehensive, in-depth and valuable information and insight.

In order to achieve customized and integrated services, Champ Consulting has taken the following measures:

Establish a professional industry team. Champ Consulting divides its business into six major areas: consumer goods and retail, finance and insurance, medical and health, technology and telecommunications, energy and environment, and government and society. Each area has a dedicated industry team comprised of industry experts, analysts and consultants with extensive experience and knowledge. These teams can deeply understand the characteristics, development, problems and opportunities of each industry, and provide targeted and professional services to customers.

Build global networks and partners. Champ Consulting Worldwide20It has offices in several countries and regions, covering major markets in Asia, Europe, North America, South America, Africa and Oceania. Shangpu Consulting has also established cooperative relations with a number of international and regional market research institutions, academic institutions, industry associations, etc., to share resources and information, and expand the scope and influence of services.

Establish a flexible project management process. Champs adopts a flexible project management process with clear steps and criteria from project initiation to project delivery. According to the needs and feedback of customers, Shangpu Consulting will timely adjust the objectives, scope, methods, time and other elements of the project to ensure the quality and effectiveness of the project.

2) Use digitalization and artificial intelligence technology to improve service efficiency and quality

Shangpu Consulting recognizes that digitalization and artificial intelligence technology are important driving forces in the market research industry. They can help market research companies improve service efficiency and quality, reduce costs and risks, and create more value.

In order to use digitalization and artificial intelligence technology to improve service efficiency and quality, Champ Consulting has taken the following measures:

Build your own data platform and analytics system. Champ Consulting has established a program calledSPARKIt can collect, store, process, analyze and present various types and sources of data, including traditional structured data (such as questionnaire survey data), emerging unstructured data (such as social media data), internal data (such as historical project data), external data (such as public data source data), etc.SPARKThe system can use a variety of advanced analysis methods and tools, such as statistical analysis, text analysis, image analysis, sentiment analysis, predictive analysis, etc., to provide customers with rich, multi-dimensional, dynamic information and insight.

Build your own artificial intelligence lab. Champ Consulting has established a program calledSAILThe Artificial Intelligence Lab, an innovation center focused on the field of artificial intelligence, is composed of a group of artificial intelligence experts from different backgrounds and fields.SAILThe laboratory is dedicated to exploring and applying the possibilities and potential of artificial intelligence technology in the field of market research, such as natural language processing, machine learning, deep learning, computer vision, etc.SAILThe laboratory has developed some market research products and services based on artificial intelligence, such as intelligent questionnaire design, intelligent data cleaning, intelligent data visualization, intelligent report generation, etc.

Build your own digital and AI community. Champ Consulting has established a program calledSPINIt is a platform designed to promote the sharing and exchange of digital and artificial intelligence knowledge and experience, including a website, a WeChat official account, a Weibo account, an e-magazine, etc.SPINThe community regularly publishes and pushes the latest developments, cases, opinions, skills and other content about digitalization and artificial intelligence, providing useful reference and enlightenment for practitioners and customers in the market research industry.

3) Build long-term and trusting customer relationships

Shangpu Consulting recognizes that customers are the lifeline of market research companies, and establishing long-term and mutual trust customer relationships is the core competitiveness of market research companies. Champ Consulting not only regards customers as the object of service, but also regards customers as partners and grows and progresses together with customers.

In order to establish a long-term and trusted customer relationship, Champ Consulting has taken the following measures:

Establish an exclusive account manager system. Champ Consulting assigns a dedicated account manager to each customer, who is responsible for communicating, coordinating and serving with customers. The dedicated account manager will have an in-depth understanding of the customer's business background, target needs, problem confusion, etc., and provide customers with personalized and professional suggestions and solutions. The exclusive account manager will also regularly feedback the progress of the project to the customer, and deal with the customer's opinions and suggestions in a timely manner to ensure the smooth progress of the project.

Establish a continuous customer satisfaction assessment mechanism. Shangpu Consulting attaches great importance to customer evaluation and feedback on the quality and effectiveness of its services. Therefore, Shangpu Consulting has established a continuous customer satisfaction evaluation mechanism to collect customer satisfaction data on its services through different methods and channels, such as online Questionnaires, telephone interviews, email feedback, etc. Champu Consulting will regularly analyze and summarize these data, find out the problems and deficiencies in the service, and take corresponding improvement measures.

Establish diverse customer care activities. Champ Consulting cares about the feelings and needs of its customers. Therefore, Champ Consulting has established a series of diverse customer care activities to enhance the emotional connection and trust with customers. These activities include: sending holiday wishes, giving away souvenirs, inviting to seminars or training courses, organizing visits or tourism activities, etc.

4) Cultivate professional and diverse talent team

Shangpu Consulting recognizes that talent is the most valuable resource for market research companies, and cultivating professional and diverse talent teams is the basis for the sustainable development of market research companies. Shangpu Consulting attaches great importance to the recruitment, training, motivation and retention of talents, and is committed to building an efficient, innovative, collaborative and diversified talent team.

In order to cultivate a professional and diverse talent team, Champ Consulting has taken the following measures:

Establish strict recruitment criteria and processes. Champu Consulting attaches great importance to the recruitment of talents. Therefore, Champu Consulting has established a set of strict recruitment standards and processes to ensure that qualified talents are recruited. Shangpu Consulting not only examines the professional knowledge and skills of the candidates, but also examines the candidates' communication ability, innovation ability, teamwork ability, learning ability, etc. Champ Consulting will also comprehensively evaluate the overall quality and potential of candidates through multiple rounds of interviews, tests, case studies, etc.

Establish a sound training system and development path. Shangpu consulting attaches great importance to the cultivation and development of talents. Therefore, Shangpu consulting has established a perfect training system and development path to help employees improve their professional level and professional quality. According to the different positions, levels and fields of employees, Shangpu Consulting will formulate and provide corresponding training plans and courses, including basic training, professional training, management training, leadership training, etc. Champ Consulting will also provide employees with a variety of development opportunities and options, such as internal transfer, expatriate exchanges, project participation, etc.

Establish a fair incentive mechanism and evaluation mechanism. Shangpu Consulting attaches great importance to the incentive and retention of talents. Therefore, Shangpu Consulting has established a fair incentive mechanism and evaluation mechanism to reward employees' contribution and performance. According to the indicators of employees' work performance, customer satisfaction and project quality, Shangpu Consulting will give employees corresponding incentive measures such as salary, bonus, equity and promotion. Champ Consulting will also regularly conduct objective, fair and transparent evaluations of employees, and give employees timely feedback and suggestions.

Establish a diverse corporate culture and atmosphere. Shangpu Consulting attaches great importance to the diversity and difference of talents. Therefore, Shangpu Consulting has established a diversified corporate culture and atmosphere to attract and retain talents with different backgrounds and characteristics. Champ Consulting respects and welcomes employees' gender, age, ethnicity, religion, culture, etc., and encourages employees to express their views and ideas. Champ Consulting will also organize various activities, such as celebrating festivals, holding dinners, and carrying out sports to enhance exchanges and friendship among employees.

In short, how market research companies adapt to market changes and changes in customer demand is a topic worthy of attention and discussion. Taking Shangpu Consulting as an example, this paper analyzes four aspects of how market research companies adapt to market changes and changes in customer demand:1) Provide customized and integrated services;2) Using digitalization and artificial intelligence technology to improve service efficiency and quality;3) Establish long-term and trusting customer relationships;4) Cultivate a professional and diversified talent team. The purpose of this paper is to provide some reference and enlightenment for market research companies to deal with future challenges and opportunities.