Basic concepts of 1. market research

The basic concepts of market research include the following:

The market. Market refers to an economic relationship composed of demanders and suppliers, which is the place and mode of exchange and circulation of goods and services. Markets can be divided according to different criteria, such as domestic and international markets according to geography, consumer goods and means of production markets according to products, and perfectly competitive and imperfectly competitive markets according to the degree of competition. The characteristics, scale, structure, change and potential of the market are the main objects and contents of market research.

Market research. Market research is the process of collecting, recording, analyzing and interpreting market-related information using scientific methods in order to understand the characteristics, size, structure, changes and potential of the market. The object of market research can be market demand, supply, price, distribution, promotion, competition, environment and other market factors and factors. The method of market research can be the collection of first-hand data and the use of second-hand data, or it can be a combination of qualitative and quantitative research. The purpose of market research is to provide market insights and recommendations to support business decisions and actions.

Market information. Market information refers to all kinds of data and facts related to the market, which is the basis and source of market research. Market information can be divided into internal information and external information, and can also be divided into active information and passive information. Internal information refers to the market-related information generated or mastered by the enterprise itself, such as the enterprise's sales, costs, profits, inventory, customers, channels and other information. External information refers to market-related information obtained or received by an enterprise from the external environment, such as market demand, supply, price, distribution, promotion, competition, environment, etc. Active information refers to the market-related information collected by enterprises through various means, such as questionnaires, interviews, observations, experiments, etc. Passive information refers to the market-related information that enterprises passively receive from various channels, such as through the Internet, reports, literature, databases, etc.

Market analysis. Market analysis refers to the process of processing, calculating, summarizing and reasoning market information in order to discover the laws and trends of the market, as well as the problems and opportunities of the enterprise. The methods of market analysis can be descriptive analysis, correlation analysis, causal analysis, predictive analysis, etc. Descriptive analysis refers to the generalization and summary of market information to reflect the current situation and characteristics of the market. Relevance analysis refers to comparing and linking market information to reflect differences and similarities in markets. Causality analysis refers to the exploration and verification of market information to reflect the causes and results of the market. Predictive analysis refers to the inference and prediction of market information to reflect changes and developments in the market.

Market Insights. Market insight is the process of elaborating, explaining, evaluating and forecasting the results of market analysis in order to provide meaning and value to the market. The method of market insight can be explanatory insight, evaluative insight, innovative insight, etc. Explanatory insight refers to the interpretation and explanation of the results of market analysis in order to provide the phenomenon and meaning of the market. Evaluative insight refers to the evaluation and comparison of the results of market analysis to provide market advantages and choices. Innovative insight refers to the creation and improvement of the results of market analysis to provide market opportunities and solutions.

Market Advice. Market advice refers to the process of putting forward market opinions and solutions based on the results of market insight to help companies solve problems and seize opportunities. The method of market advice can be strategic advice, strategic advice, action advice, etc. Strategic recommendations are comments and proposals for the overall goals and direction of the enterprise, such as market positioning, market objectives, market selection, etc. Strategic advice refers to the company's specific methods and means of advice and programs, such as product strategy, pricing strategy, distribution strategy, promotion strategy. Action recommendations are suggestions and proposals for specific actions and measures of an enterprise, such as product development, price adjustment, channel construction, promotional activities, etc.

Types and methods of 2. market research

The types and methods of market research can be divided according to different criteria, such as the collection of first-hand data and the use of second-hand data according to the source of the data, qualitative research and quantitative research according to the nature of the research, and exploratory research, descriptive research and causal research according to the purpose of the research. Here are some common types and methods of market research:

First-hand data collection. The collection of first-hand data refers to the data that consultants collect directly from market participants and influences, and it is one of the main methods of market research. The advantages of first-hand data collection are the freshness, uniqueness, relevance and controllability of the data, but the disadvantages are the cost, time, difficulty and deviation of the data. There are many ways to collect first-hand data, including the following:

Questionnaire survey. A questionnaire is a method of obtaining data from a target population by designing and distributing a series of questions. The advantages of questionnaire survey are the quantity, scope, standard and comparability of data, but the disadvantages are the quality, depth, authenticity and validity of data. There are many ways to design and distribute questionnaires, such as paper questionnaires, electronic questionnaires, telephone questionnaires, postal questionnaires, face-to-face questionnaires, etc. There are many types of questions in the questionnaire survey, such as single-choice questions, multiple-choice questions, fill-in questions, judgment questions, scoring questions, sorting questions, open questions, etc. The design of the questionnaire questions should follow the following principles: simple, clear, orderly, unbiased, useful and interesting.

Interview survey. Interview survey refers to the method of obtaining data from the target population through dialogue with them. The advantages of interview survey are the quality, depth, authenticity and validity of the data, but the disadvantages are the quantity, scope, standard and comparability of the data. There are many ways of interview investigation, such as individual interviews, group interviews, expert interviews, in-depth interviews, semi-structured interviews, unstructured interviews, etc. The design of the interview survey questions should follow the following principles: flexible, appropriate, orderly, unbiased, useful and interesting.

Observe the survey. An observational survey is a method of obtaining data from a target population by observing their behavior and reactions. The advantages of observational surveys are the intuitiveness, objectivity, authenticity and validity of the data, but the disadvantages are the quantity, scope, standards and comparability of the data. There are many ways to observe and investigate, such as natural observation, artificial observation, covert observation, public observation, participation observation, non-participation observation, etc. The contents and records of observation and investigation should follow the following principles: complete, accurate, timely, orderly, unbiased and useful.

experimental investigation. Experimental investigation refers to the method of obtaining data from the target population by manipulating their conditions and factors. The advantages of experimental investigation are the causality, controllability, repeatability and verifiability of the data, but the disadvantages are the representativeness, universality, operability and acceptability of the data. There are many ways of experimental investigation, such as laboratory experiments, field experiments, natural experiments, control experiments, factor experiments, single-factor experiments, multi-factor experiments and so on. The design and execution of experimental investigations should be guided by the following principles: scientific, reasonable, rigorous, effective, safe and ethical.

utilization of secondary data. The use of secondary data refers to the data obtained by consultants from existing data sources, which is one of the main methods of market research. The advantages of the use of second-hand data are the cost, time, difficulty and deviation of the data, and the disadvantages are the freshness, uniqueness, relevance and controllability of the data. There are many ways to use second-hand data, including the following:

network data. Network data refers to market-related data obtained through the Internet, and it is one of the most commonly used sources of secondary data. The advantages of network data are the quantity, scope, speed and convenience of the data, but the disadvantages are the quality, reliability, validity and security of the data. There are many ways to obtain network data, such as search engines, social media, e-commerce, blogs, forums, comments, reviews, etc. The acquisition and utilization of network data should follow the following principles: objective, legal, valid, useful and interesting.

Report data. Report data refers to market-related data obtained through various reports, and it is one of the most authoritative sources of second-hand data. The advantages of reporting data are the quality, reliability, validity and security of the data, and the disadvantages are the quantity, scope, speed and convenience of the data. There are many ways to obtain report data, such as government reports, industry reports, corporate reports, media reports, research reports, consulting reports, etc. The acquisition and utilization of reported data should be guided by the following principles: objective, legitimate, valid, useful and interesting.

literature data. Literature data refers to the market-related data obtained through various documents, and it is one of the richest sources of secondary data. The advantages of literature data are the quantity, scope, speed and convenience of the data, but the disadvantages are the quality, reliability, validity and security of the data. There are many ways to obtain literature data, such as books, journals, papers, patents, standards, regulations, etc. The acquisition and utilization of literature data should follow the following principles: objective, legitimate, valid, useful and interesting.

Database data. Database data refers to the market-related data obtained through various databases, which is one of the most standard sources of second-hand data. The advantages of database data are the quality, reliability, validity and security of the data, but the disadvantages are the quantity, scope, speed and convenience of the data. There are many ways to obtain database data, such as statistical databases, financial databases, market databases, professional databases, public databases, private databases, etc. The acquisition and utilization of database data should be guided by the following principles: objective, legitimate, valid, useful and interesting.

Qualitative research. Qualitative research refers to the study of exploring and understanding market phenomena and meanings through non-numerical methods, and it is one of the main types of market research. The advantages of qualitative research are the depth, flexibility, innovation and adaptability of the research, while the disadvantages are the breadth, standardization, comparability and verifiability of the research. There are many methods of qualitative research, including the following:

Text analysis. Text analysis refers to the analysis of market-related text to extract the theme, opinion, emotion, value and other information of the text. The advantages of text analysis are the richness, intuitiveness, authenticity and validity of the data, but the disadvantages are the complexity, ambiguity, ambiguity and subjectivity of the data. There are many ways of text analysis, such as content analysis, discourse analysis, narrative analysis, semantic analysis, pragmatic analysis and so on. There are many tools for text analysis, such as word frequency analysis, word cloud analysis, topic model, sentiment analysis, text mining, etc. There are many cases of text analysis, such as text analysis of consumer comments, feedback, complaints, etc., to understand consumer needs, satisfaction, loyalty, preferences, etc.

Image analysis. Image analysis refers to the analysis of market-related images to extract the characteristics, attributes, relationships, meaning and other information of the image. The advantages of image analysis are the intuitiveness, objectivity, authenticity and validity of the data, but the disadvantages are the complexity, ambiguity, ambiguity and subjectivity of the data. There are many ways of image analysis, such as image recognition, image classification, image detection, image segmentation, image generation, etc. There are many tools for image analysis, such as face recognition, object recognition, scene recognition, image search, image synthesis, etc. There are many cases of image analysis, such as image analysis of consumers' photos, videos, expressions, etc., to understand consumers' characteristics, behaviors, emotions, and values.

Sound analysis. Sound analysis refers to the analysis of market-related sounds to extract the characteristics, attributes, relationships, meaning and other information of the sound. The advantages of sound analysis are the intuitiveness, objectivity, authenticity and validity of the data, but the disadvantages are the complexity, ambiguity, polysemy and subjectivity of the data. There are many ways of sound analysis, such as sound recognition, sound classification, sound detection, sound segmentation, sound generation, etc. There are many tools for sound analysis, such as speech recognition, speech synthesis, speech conversion, voice search, speech analysis, etc. There are many cases of sound analysis, such as sound analysis of consumers' voice, music, noise, etc., to understand consumers' characteristics, behaviors, emotions, and values.

Quantitative research. Quantitative research refers to the study of measuring and analyzing the size and relationship of the market through numerical methods, and it is one of the main types of market research. The advantages of quantitative research are the breadth, standardization, comparability and verifiability of the research, while the disadvantages are the depth, flexibility, innovation and adaptability of the research. There are many methods of quantitative research, including the following:

Descriptive statistics. Descriptive statistics refers to the method of summarizing and summarizing market data to reflect the basic characteristics and distribution of the market. The advantages of descriptive statistics are the simplicity, intuitiveness, understandability and comparability of the data, while the disadvantages are the depth, innovation, interpretation and predictability of the data. There are many ways to describe statistics, such as frequency analysis, percentage analysis, mean analysis, standard deviation analysis, quantile analysis, histogram analysis, pie chart analysis, scatter plot analysis, etc. There are many tools for descriptive statistics, such as Excel, SPSS, R, Python, etc. There are many cases of descriptive statistics, such as descriptive statistics on market demand, supply, price, distribution, promotion, etc., to understand the current situation and characteristics of the market.

Inferential statistics. Inferential statistics are methods of inferring and reasoning about market data to reflect market patterns and trends. The advantages of inferential statistics are the depth, innovation, interpretation and predictability of the data, while the disadvantages are the simplicity, intuitiveness, comprehensibility and comparability of the data. There are many ways of inferential statistics, such as hypothesis testing, parameter estimation, correlation analysis, regression analysis, variance analysis, factor analysis, cluster analysis, discrimination analysis, etc. There are many tools for inferences, such as Excel, SPSS, R, Python, etc. There are many cases of inferential statistics, such as inferential statistics on market demand, supply, price, distribution, promotion, etc., to understand market patterns and trends.

Mathematical modeling. Mathematical modeling refers to the processing, calculation, induction and reasoning of market data in order to establish mathematical models and formulas of the market. The advantages of mathematical modeling are the logic, objectivity, systematicness and creativity of the data, but the disadvantages are the complexity, abstraction, ideality and limitations of the data. There are many ways of mathematical modeling, such as linear planning, nonlinear planning, dynamic planning, integer planning, random planning, simulation, optimization, decision-making, game and so on. There are many tools for mathematical modeling, such as Excel, Matlab, Mathematica, Lingo, GAMS, etc. There are many cases of mathematical modeling, such as mathematical modeling of market demand, supply, price, distribution, promotion, etc. to establish mathematical models and formulas for the market.

Exploratory research. Exploratory research refers to the exploration and understanding of the phenomenon and significance of the market, which is one of the main purposes of market research. The advantages of exploratory research are the flexibility, innovation, adaptability and inspiration of the research, but the disadvantages are the standardization, comparability, verifiability and operability of the research. There are many methods of exploratory research, including the following:

Literature review. Literature review refers to the method of collecting, sorting, evaluating and summarizing the relevant literature of the market. The advantages of literature review are the richness, authority, validity and usefulness of the data, but the disadvantages are the timeliness, uniqueness, relevance and controllability of the data. There are many ways of literature review, such as systematic review, narrative review, empirical review, theoretical review, etc. There are many tools for literature review, such as literature retrieval, literature management, literature analysis, literature writing, etc. There are many cases of literature review, such as a literature review of market demand, supply, price, distribution, promotion, etc., to understand the phenomenon and significance of the market.

Case study. Case study refers to the method of conducting in-depth and detailed research on individual or special cases related to the market. The advantages of case studies are the depth, flexibility, innovation and adaptability of the data, while the disadvantages are the breadth, standardization, comparability and verifiability of the data. There are many ways to study a case, such as a single case study, multiple case studies, nested case studies, comparative case studies, etc. There are many tools for case studies, such as document analysis, interview analysis, observation analysis, experimental analysis, simulation analysis, etc. There are many cases of case study, such as a case study of the success or failure of the market to understand the phenomenon and significance of the market.

Focus groups. Focus groups refer to the method of obtaining data from a target group of people by inviting them to a group discussion. The advantages of focus groups are the depth, flexibility, innovation and adaptability of the data, while the disadvantages are the breadth, standardization, comparability and verifiability of the data. There are many ways to focus groups, such as structured focus groups, semi-structured focus groups, unstructured focus groups, face-to-face focus groups, remote focus groups, and so on. There are many tools for focus groups, such as discussion guides, recording devices, video devices, whiteboards, notes, etc. There are many cases of focus groups, such as focus groups on market needs, preferences, perceptions, motivations, etc., to understand the phenomenon and significance of the market.

Descriptive research. Descriptive research refers to the research that describes and summarizes the basic characteristics and distribution of the market, which is one of the main purposes of market research. The advantages of descriptive research are the breadth, standardization, comparability and verifiability of the research, but the disadvantages are the depth, flexibility, innovation and adaptability of the research. There are many methods of descriptive research, including the following:

Market segmentation. Market segmentation refers to the method of dividing the market into a number of relatively balanced and relatively independent sub-markets according to market demand, preferences, behavior, characteristics and other factors. The advantages of market segmentation are the relevance, comparability, operability and usefulness of data, but the disadvantages are the complexity, ambiguity, variability and limitations of data. There are many ways of market segmentation, such as geographic segmentation, demographic segmentation, psychological segmentation, behavioral segmentation, interest segmentation, etc. There are many tools for market segmentation, such as cluster analysis, discriminant analysis, factor analysis, and principal component analysis. There are many examples of market segmentation, such as market segmentation of market needs, preferences, behaviors, characteristics, etc., to understand the basic characteristics and distribution of the market.

Market positioning. Market positioning refers to the method of determining a company's target market and competitive advantage, as well as its product, price, distribution and promotion strategies, based on the results of market segmentation. The advantages of market positioning are the relevance, comparability, operability and usefulness of the data, but the disadvantages are the complexity, ambiguity, variability and limitations of the data. There are many ways of market positioning, such as differentiated positioning, centralized positioning, integrated positioning, value positioning, life cycle positioning, etc. There are many tools for market positioning, such as positioning map, positioning matrix, positioning statement, positioning test, etc. There are many examples of market positioning, such as the target market and competitive advantage of the market, as well as the company's product, price, distribution and promotion strategies to understand the basic characteristics and distribution of the market.

Market forecasts. Market forecasting is a method of predicting the future development and changes of the market according to the current situation and trend of the market. The advantages of market forecasting are the relevance, comparability, operability and usefulness of the data, while the disadvantages are the complexity, ambiguity, variability and limitations of the data. There are many ways to predict the market, such as trend prediction, causal prediction, simulation prediction, judgment prediction, etc. There are many tools for market forecasting, such as time series analysis, regression analysis, Markov chains, neural networks, expert systems, and so on. There are many cases of market forecasting, such as market forecasting of market demand, supply, price, distribution, promotion, etc., in order to understand the future development and changes of the market.

Causality research. Causality research refers to the study of the causes and results of the market to explore and verify, it is one of the main purposes of market research. The advantages of causal research are the depth, flexibility, innovation and adaptability of the research, but the disadvantages are the standard, comparability, verifiability and operability of the research. There are many methods of causality research, including the following:

Hypothesis testing. Hypothesis testing is a method of testing a hypothesis in the market to determine whether it is correct or not. The advantages of hypothesis testing are the logic, objectivity, systematicness and creativity of the data, but the disadvantages are the complexity, abstraction, ideality and limitations of the data. There are many ways of hypothesis testing, such as parametric testing, non-parametric testing, single-sample testing, two-sample testing, and multi-sample testing. There are many tools for hypothesis testing, such as t-test, z-test, F-test, chi-square test, ANOVA, etc. There are many cases of hypothesis testing, such as a hypothesis test of a market hypothesis to determine whether the hypothesis is correct or not.

parameter estimation. Parameter estimation is a method of estimating a parameter of the market to reflect the size and range of the parameter. The advantages of parameter estimation are the logic, objectivity, systematicness and creativity of the data, but the disadvantages are the complexity, abstraction, ideality and limitations of the data. There are many ways of parameter estimation, such as point estimation, interval estimation, maximum likelihood estimation, Bayesian estimation, etc. There are many tools for parameter estimation, such as confidence intervals, hypothesis testing, maximum likelihood functions, Bayesian formulas, and so on. There are many cases of parameter estimation, such as parameter estimation of a parameter in the market to reflect the size and range of the parameter.

correlation analysis. Correlation analysis is a method of analyzing the degree of correlation between two or more variables in a market to reflect the relationship between the variables. The advantages of correlation analysis are the logic, objectivity, systematicness and creativity of the data, but the disadvantages are the complexity, abstraction, ideality and limitations of the data. There are many ways of correlation analysis, such as linear correlation analysis, nonlinear correlation analysis, univariate correlation analysis, multivariate correlation analysis, etc. There are many tools for correlation analysis, such as correlation coefficients, scatter plots, correlation matrices, principal component analysis, and factor analysis. There are many examples of relevant analysis, such as market demand, supply, price, distribution, promotion, etc., to reflect the relationship between variables.

regression analysis. Regression analysis refers to the method of analyzing the causal relationship between one or more independent variables and one or more dependent variables of the market to establish a functional relationship between the variables. The advantages of regression analysis are the logic, objectivity, systematicness and creativity of the data, but the disadvantages are the complexity, abstraction, ideality and limitations of the data. There are many ways of regression analysis, such as linear regression analysis, nonlinear regression analysis, single-variable regression analysis, multivariate regression analysis, etc. There are many tools for regression analysis, such as regression equations, regression coefficients, regression graphs, regression tests, regression diagnostics, and so on. There are many cases of regression analysis, such as regression analysis of market demand, supply, price, distribution, promotion, etc., to establish functional relationships between variables.