Market research companies are specialized in market research, market research, market information, market intelligence and other services, they provide valuable data and insights for enterprises to help enterprises understand market demand, competitive situation, consumer behavior, technology trends, etc., so as to guide enterprises to carry out product innovation. Product innovation is an important means for enterprises to maintain their advantages and growth in the fierce market competition, which involves two ways: new product innovation and improved product innovation. Taking Shangpu Consulting as an example, this paper introduces how market research companies provide catalysts for product innovation through different methods and tools, including demand analysis, competition analysis, creative stimulation, concept testing, prototype design, user testing, etc. This paper also analyzes the challenges and opportunities faced by market research companies in the process of product innovation, as well as the future development trend.

1. market research firm's contribution to product innovation

Product innovation refers to the creation of a new product or the innovation of new or old product functions, so product innovation can be divided into two ways: new product innovation and improved product innovation. New product innovation usually means that we have an idea, but in fact there is no such product on the market, and even we have no experience in the industry of this product at all. Many entrepreneurs belong to such a state. Improve product innovation, more refers to the already mature products, we very much hope to be able to achieve some point-like or flaky local improvement on the basis of existing products, so as to gradually get a product that may be completely different from the original product, this process actually achieves the purpose of improvement.

Whether it is a new product innovation or improved product innovation, we need to have sufficient market research as a support. Market research can help companies identify and verify user needs, assess and predict market potential, analyze and monitor competitor dynamics, explore and introduce technological innovations, etc. Through market research, companies can gain the following benefits:

Improve the success rate of product innovation. Market research can help enterprises in the early stage of product innovation, market opportunity identification, target market selection, product positioning strategy, etc., so as to improve the direction and pertinence of product innovation. At the same time, market research can also help enterprises in the middle and late stages of product innovation, product concept testing, prototype design, user testing, etc., so as to improve the feasibility and effectiveness of product innovation. Through market research, enterprises can avoid blind, random, do not meet the market demand of product innovation, so as to improve the success rate of product innovation.

Reduce the cost and risk of product innovation. Market research can help enterprises to collect and analyze market feedback in time in the process of product innovation, so as to adjust and optimize product design in time and reduce unnecessary rework and waste. At the same time, market research can also help companies predict and avoid market risks that may be encountered in the process of product innovation, such as legal risks, technical risks, and competitive risks. Through market research, companies can reduce the cost and risk of product innovation.

Enhance the competitiveness and influence of product innovation. Market research can help enterprises to continuously obtain and utilize market information in the process of product innovation, so as to maintain sensitivity and adaptability to market changes. At the same time, market research can also help enterprises to create and disseminate market value in the process of product innovation, so as to improve customer satisfaction and loyalty. Through market research, enterprises can enhance the competitiveness and influence of product innovation.

2. Shangpu Consulting: A Catalyst for Product Innovation for Enterprises

Shangpu consulting is a professional engaged in market research, market research, market information, market intelligence and other services. Shangpu consulting has a team with rich experience, high professional quality and good service attitude, which provides customized, all-round, efficient and high-quality services for customers from all walks of life. Champ Consulting is customer-centric, data-based, insight-oriented, and value-oriented, providing customers with the following services:

Needs analysis: Through a variety of methods and tools, such as questionnaires, in-depth interviews, focus groups, observation methods, etc., Champ Consulting collects and analyzes the demand characteristics, demand levels, demand motivation, etc. of target users, so as to help customers find potential or unmet user needs and translate them into specific product functions or attributes.

Competition analysis: Shangpu Consulting collects and analyzes competitors' product characteristics, advantages and disadvantages, price strategies, sales channels, etc. through a variety of methods and tools, such as literature search, network search, expert interviews, field visits, etc., so as to help customers understand the competitive environment and find out differentiated or advantageous product positioning or strategies.

Creative Inspire: Champ Consulting through a variety of methods and tools, such as brainstorming, mind mapping, six thinking hats,SCAMPERetc., to stimulate and collect creative ideas from customers or users and organize them into innovative product concepts or solutions.

Concept Testing: Champ Consulting evaluates and screens product concepts or solutions through a variety of methods and tools, such as scoring, sorting, selection, preference, etc., to help customers determine the product concepts or solutions with the most market potential and user preferences.

Prototype design: Champ Consulting visualizes and implements product concepts or solutions through a variety of methods and tools, such as sketches, models, samples, software, etc., to help customers form product prototypes, modify and improve them.

User testing: Champ Consulting tests and evaluates product prototypes through a variety of methods and tools, such as usability testing, satisfaction testing, experience testing, loyalty testing, etc., so as to help customers collect user feedback and suggestions, and Product prototypes are optimized and improved.

Challenges and Opportunities in the Product Innovation Process for 3. Market Research Companies

Market research companies also face some challenges and opportunities in the process of providing a catalyst for product innovation. These challenges and opportunities mainly come from the following aspects:

changes in the market environment. With the continuous development and change of the market, the needs of users are constantly changing, competitors are constantly emerging, and technology is constantly innovating. These changes bring more needs and opportunities to market research companies, but also bring more uncertainties and risks. Market research companies need to constantly update their knowledge and skills to adapt to changes in the market and provide customers with more accurate, timely and valuable services.

Diversification of customer needs. With the diversification and segmentation of the customer industry, the customer's service demand for market research companies is becoming more and more diversified and personalized. Customers need market research companies to provide not only data and insights, but also solutions and recommendations. Customers also need not only standardized and generalized services from market research companies, but also customized and specialized services from market research companies. Market research companies need to continuously expand the scope and depth of their services to meet the needs of customers and establish long-term cooperative relationships with customers.

Enrichment of data resources. With the development of Internet, Internet of things, big data and other technologies, market research companies can obtain more, more comprehensive and more real-time data resources. These data resources can help market research companies improve their service quality and efficiency, but they also bring more challenges and pressures. Market research companies need to continuously improve their data collection, processing, analysis, presentation and other capabilities to make full use of data resources and protect data security.

The fierce competition for talent. With the development and expansion of the market research industry, the competition for talents is becoming more and more fierce. Market research companies need to attract and retain talented people to maintain their core competencies. At the same time, market research companies also need to cultivate and motivate their own talents to improve their service level and innovation ability.

Future Trends of 4. Market Research Companies

In the process of providing enterprises with catalysts for product innovation, market research companies have also shown their own development potential and direction. According to the current situation and future forecasts of the market research industry, the future development trend of market research companies mainly has the following aspects:

Expansion and deepening of service content. The market research company will not only provide basic services such as market research, market research, market information, and market intelligence, but also provide value-added services such as market consulting, market planning, market training, and market monitoring. Market research companies will not only provide customers with data and insights, but also provide customers with solutions and recommendations. The market research company will not only provide customers with catalysts for product innovation, but also provide customers with partners for product innovation.

Innovation and optimization of service methods. Market research companies will not only use traditional offline service methods, but also use online or online and offline service methods. Market research companies will not only rely on manual or mechanical service methods, but also rely on intelligent or artificial intelligence service methods. Market research companies will not only use a single or fixed service, but also use multiple or flexible service methods.

Expansion and segmentation of service objects. Market research companies will not only provide services for large or medium-sized enterprises, but also for small or micro enterprises. Market research companies will not only provide services for traditional or established industries, but also for emerging or cutting-edge industries. The market research company will not only provide services for domestic or local customers, but also for international or cross-regional customers.

In short, market research companies are catalysts for product innovation, providing valuable data and insights to help companies innovate through professional methods and tools. At the same time, market research companies are also participants in product innovation. They improve their service level and competitiveness through continuous learning and innovation.