What is market research?

Market Research (Market Research) refers to an activity that helps enterprises understand the market environment, needs, competition, opportunities and risks by collecting, collating, analyzing and interpreting information related to a particular market, so as to provide a basis for enterprises to formulate or improve their marketing strategies and decisions. Market research is an important basis for enterprises to carry out marketing, but also an important reference for enterprises to make strategic decisions such as innovation, investment and expansion.

What is the purpose of market research?

The purpose of market research is to help companies solve the various problems they encounter in the marketing process, or to identify and take advantage of the various opportunities that exist in the market. Specifically, market research can help companies achieve the following objectives:

Understand the market environment: including macro factors such as politics, economy, society, technology, law, ecology, etc., as well as micro factors such as industry structure, development trend, scale, growth rate, profit rate, etc., as well as consumer characteristics, demand, preference, purchase behavior and other objective factors.

Understand the competition situation: including information on the number, size, strength, strategy, objectives, products, prices, channels, promotions, etc. of competitors, as well as the strengths and weaknesses of competitors, as well as the reactions and actions that competitors may take.

Understand your own situation: including your own resources, capabilities, strengths and weaknesses, as well as information about your position, share, image, etc. in the market, as well as the opportunities and threats you may face.

Develop or improve marketing strategies: According to the information obtained from market research, formulate or improve their own marketing objectives, product strategies, pricing strategies, channel strategies and promotion strategies, etc., in order to adapt to or guide market changes and improve their competitiveness in the market.

Evaluate or monitor marketing effectiveness: Evaluate or monitor the implementation and effectiveness of your own marketing strategies and decisions, as well as market reactions and changes, based on the feedback provided by market research, in order to adjust or improve your own marketing behavior in a timely manner and improve your own Marketing efficiency and effectiveness.

What are the methods of market research?

The methods of market research are mainly divided into two categories: one-time research (AD works for research) and continuous research (Continuous Research）。

One-time research refers to a one-time market research method of collecting and analyzing information according to certain design and procedures for a particular market problem or opportunity. One-time research usually uses the following methods:

Investigation (Survey): A market research method that asks a series of standardized or semi-standardized questions about market issues to the target population to obtain their answers or feedback. The survey method can be conducted in the form of face-to-face interviews, telephone interviews, mailed questionnaires, and online questionnaires.

Observation method (Observation): A market research method to obtain real or implicit information by directly or indirectly observing the behavior, reaction or performance of the target population in the natural environment. The observation method can be carried out in the form of manual observation, mechanical observation, neural observation, etc.

Experimental method (Experiment): A market research method that artificially changes certain marketing factors, such as products, prices, channels, promotions, etc., in a controlled or simulated environment to observe the reaction or performance of the target population in order to obtain information on their causal relationship. The experimental method can be carried out in the form of laboratory experiments, field experiments, etc.

Case analysis (Case Study): A market research method that collects, collates, analyzes and interprets relevant information in an in-depth, comprehensive and systematic way to obtain the background, process, results and implications of a particular market event or phenomenon. Case analysis can be carried out in the form of historical case analysis, comparative case analysis, etc.

Continuous research refers to a market research method that continuously collects and analyzes information on a particular market topic or area according to a certain frequency and specifications. Continuous research usually uses the following methods:

Panel method (Panel): A market research method that regularly provides the same or similar questions to a fixed and representative target group to obtain continuous or changing information. The panel method can be carried out in the form of consumer panel, retailer panel, expert panel, etc.

The Audit Act (Audit): A market research method to obtain quantitative or qualitative information through regular on-the-spot inspection or verification of the target population or object. The audit law can be carried out in the form of retail audit, wholesale audit, media audit, etc.

The Reporting Act (Report): A market research method to obtain information on the performance or situation of a target population or target by regularly requesting or providing relevant data or information. The reporting method can be carried out in the form of sales reports, inventory reports, financial reports, etc.

What are the market research processes?

Market research usually follows the following six basic processes:

Clear research objectives: specify the market problem or opportunity to be solved or discovered, and the type, scope, depth and purpose of the information to be obtained.

Design the research plan: determine the market research methods, techniques, tools and procedures to be used, as well as the data sources, samples, indicators and assumptions to be used.

Collection of research data: According to the designed research plan, the collection of information is carried out, including obtaining existing data from secondary data sources (such as literature, reports, databases, etc.), or obtaining new data from primary data sources (such as surveys, observations, experiments, etc.).

Analysis of research data: The collected data is cleaned, sorted, coded, classified, counted, summarized and reasoned to extract valuable information and findings.

Preparation of research reports: information and findings will be analyzed, as well as relevantConclusionAnd recommendations, according to a certain format and structure, the preparation of a complete, clear, accurate and convincing market research report.

Provide research services: submit the prepared market research report, as well as relevant consulting programs and supporting materials to the customer in a timely manner, and provide further explanation, explanation and support according to the customer's feedback and needs.

What industry norms and ethical standards should market research companies comply?

As the main provider of market research, market research companies need to comply with certain industry norms and ethical standards to ensure the quality and credibility of market research. The main contents and requirements of market research companies in terms of industry norms and ethical standards include the following aspects:

Responsibility to customers: Market research companies should provide market research services to customers honestly, fairly and professionally, and should not deceive, mislead or harm the interests of customers. The market research company should design a reasonable, effective and feasible market research plan according to the needs of customers, and complete the market research task on time, quality and quantity. The market research company shall ensure that the market research reports and consulting solutions provided are based on true, accurate, complete and reliable data and analysis, and meet the expectations and objectives of the client. The market research firm shall respect and protect the privacy and trade secrets of the client and shall not disclose or misuse any sensitive or confidential information provided or obtained by the client.

Responsibility to the respondents: The market research company shall respect and protect the rights and interests of the respondents, and shall not force, induce or cheat the respondents to participate in market research activities. The market research company should clearly explain the purpose, content, method and consequences of the market research activities to the respondents, and obtain the consent or authorization of the respondents. Market research companies should ensure that the data collected is true, valid, legitimate, and used only for market research purposes. The market research company shall respect and protect the privacy and personal information of the respondents, and shall not disclose or misuse any sensitive or confidential information provided or obtained by the respondents.

Responsibility to peers: Market research companies should maintain good cooperative relations with peers and should not slander, slander or damage the reputation or interests of peers. Market research companies should abide by the principle of fair competition in the industry, and must not obtain or influence market research business through improper means, such as low prices, falsehood, plagiarism, etc. Market research companies should respect and protect the intellectual property rights and trade secrets of their peers and should not steal or disclose any proprietary or confidential information provided or obtained by their peers.

Responsibility to society: Market research companies should abide by national laws and regulations and social ethics, and must not engage in or support any illegal or unethical market research activities. Market research companies should pay attention to and promote the public good and development of society, and must not conduct or disseminate any harmful or misleading market research information. Market research companies should actively participate in and promote industry self-discipline and norms, and constantly improve the professional level of market research and service quality.

What kind of market research company is Champ Consulting?

Champ Consulting (Shangpu Consulting) is a company specializing in market research and consulting services, established in2008Headquartered in Beijing, it has a team of senior market research experts, consultants and data analysts to provide customers with all-round, efficient and high-quality market research and consulting services.

Champu Consulting has the following professional services and advantages in the field of market research:

Wide range of services: Shangpu Consulting covers multiple industries and fields such as consumer goods, automobiles, medicine, education, finance, energy, environmental protection, etc., and can provide customers with customized or standardized market research services for different market themes and issues.

Advanced technology: Shangpu Consulting adopts the latest market research methods and technologies, such as artificial intelligence, big data, cloud computing, etc., which can provide customers with faster, more accurate and more in-depth market research data and analysis.

Experienced team: Shangpu Consulting has a team composed of professionals from well-known universities and enterprises at home and abroad, with rich theoretical knowledge and practical experience in market research, which can provide customers with more professional, more reliable and more valuable market research reports and consulting solutions.

High customer satisfaction: Shangpu Consulting takes customers as the center, quality as life, innovation as the driving force, and cooperation as the foundation. It is committed to providing customers with the best quality market research and consulting services, and establishing long-term and stable cooperation with customers relationship. Shangpu Consulting has provided successful market research and consulting services to many well-known companies including Baidu, Alibaba, Tencent, Huawei, Jingdong, Suning, Lenovo, Xiaomi, etc., and has been highly recognized and praised by customers.

How does Champ Consulting follow industry norms and ethical standards?

Shangpu Consulting attaches great importance to and strictly abides by the norms and ethical standards of the market research industry to ensure the quality and credibility of market research. Champ Consulting demonstrates its adherence to industry norms and ethical standards in the following areas:

Shangpu Consulting is the China Market Research Association (CMRA) member units, follow and implementCMRAThe China Market Research Industry Self-Regulatory Code and the China Market Research Industry Code of Ethics were developed and accepted.CMRAmonitoring and evaluation.

Champ Consulting is an international market research association (ESOMAR) member units, follow and implementESOMARThe Guidelines for International Market, Social and Public Opinion Research and the Code of Ethics for International Market, Social and Public Opinion Research have been developed and accepted.ESOMARmonitoring and evaluation.

Shangpu Consulting has established a sound internal quality management system, from project design, data collection, data analysis, report preparation and other aspects, have set strict quality control standards and processes to ensure the professionalism and effectiveness of market research.

Shangpu Consulting has established a complete internal ethics management system, and has set strict ethical requirements and norms in all aspects of employee recruitment, training, and assessment to ensure the integrity and fairness of market research.

In short, Shangpu Consulting is a trustworthy and selective market research company. It can not only provide customers with professional, efficient and high-quality market research and consulting services, but also contribute to the development and progress of the industry.