Industry Status of 1. Market Research Companies

The current situation of the market research company's industry can be described from four aspects: industry scale, industry structure, industry competition and industry development trend.

1. Industry scale

In 2023, the market size of the Chinese market research industry reached360Billion yuan, year-on-year growth12.5%, accounting for the global market research industry14.4%. The growth of China's market research industry is mainly due to the following factors:

The rapid development of economy and society has promoted the demand for market information in all walks of life, especially the emergence of emerging industries, new formats and new models, which provides a broad market space for market research companies.

The impact of the new crown epidemic has prompted industries to accelerate their digital transformation and increased their reliance on market research companies, especially the application of new technologies such as online market research, big data analysis, and artificial intelligence, bringing new growth points to market research companies.

The support of policies and regulations provides a guarantee for the healthy development of the market research industry, especially the introduction and improvement of relevant laws and regulations such as the Statistics Law and the measures for the Management of Market Research. it provides guidance and supervision for the legal operation, standardized management and quality improvement of market research companies.

2. Industry structure

The industry structure of a market research company can be divided into four aspects: geographical distribution, enterprise size, business type and customer industry.

Geographical distribution: The geographical distribution of market research companies is mainly concentrated in economically developed areas, especially in first-tier cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, which account for most of the market research industry. This is mainly because the economic vitality, market potential, customer demand, human resources and other advantages of these areas have attracted a large number of market research companies to settle in and develop. At the same time, with the balanced development of economy and society, the market research industry in second-tier cities and third-tier cities has gradually risen, especially in Chengdu, Hangzhou, Wuhan, Chongqing and other cities, which have become new growth poles of the market research industry.

Enterprise size: Market research companies are mainly divided into three categories: large, medium and small. Large market research companies are mainly internationally renowned market research institutions, as well as leading domestic market research institutions, these companies have a strong brand influence, professional and technical capabilities, global service network and other advantages, occupy the high-end market of the market research industry. Medium-sized market research companies are mainly domestic professional market research institutions, these companies have a wealth of industry experience, customer resources, data resources and other advantages, occupy the market research industry in the middle of the market. Small market research companies are mainly domestic entrepreneurial market research institutions, these companies have a more flexible operating model, innovative business ideas, keen market insight and other advantages, occupy the low-end market of the market research industry.

Business Type: The business types of market research companies are mainly divided into quantitative research and qualitative research. Quantitative research refers to research methods that describe and explain market phenomena in a quantitative manner by collecting and analyzing large amounts of numerical data, such as questionnaires, data mining, and statistical analysis. Qualitative research refers to research methods that describe and explain market phenomena in a non-quantitative way by collecting and analyzing non-numerical data, such as in-depth interviews, focus groups, scenario analysis, etc. The choice of business type of market research company mainly depends on the needs of customers, the objectives of the project, the availability of data, the depth of research and other factors. Generally speaking, quantitative research is more suitable for describing and evaluating the scale, structure, trend, share and so on of the market, while qualitative research is more suitable for exploring and understanding the motivation, attitude, feeling and behavior of the market.

Customer industry: the customer industry of market research company is mainly divided into consumer goods, medicine, electronics, automobile, finance, energy, education, tourism and other fields. Different customer industries have different needs and concerns for market research. Market research companies need to provide targeted market research services according to the characteristics and development of customer industries. Generally speaking, the market research of consumer goods industry pays more attention to the needs, preferences, satisfaction, loyalty and other aspects of consumers, the market research of pharmaceutical industry pays more attention to the efficacy, safety, price, channels and other aspects of drugs, and the market research of electronic industry pays more attention to the performance, innovation, competition, market share and other aspects of products, the market research of the automobile industry pays more attention to the brand, design, quality and service of the products, the market research of the financial industry pays more attention to the income, risk, credit and supervision of the products, and the market research of the energy industry pays more attention to the supply and demand, cost, efficiency and environmental protection of the products, the market research of the education industry pays more attention to the content, form, effect and satisfaction of the product, while the market research of the tourism industry pays more attention to the destination, price, experience and word-of-mouth of the product.

3. Industry competition

The industry competition of market research companies is mainly reflected in the following aspects:

Brand competition: The brand competition of a market research company refers to the establishment and maintenance of its own brand image, brand reputation, brand loyalty, etc., to improve its own market awareness, market influence, market share, etc., and other market research companies The process of competing. The main means of brand competition include: providing high-quality market research services, meeting customers' needs and expectations, and winning customers' trust and recommend; carrying out effective brand publicity and promotion activities, increasing their own brand awareness and reputation, and shaping their own Brand image and personality; establishing and expanding their own brand alliances and partners, and expanding their own brand influence and market coverage; protect and maintain their own brand rights and interests, prevent and respond to brand infringement and brand crisis.

Technical competition: The technical competition of market research companies refers to the process of competing with other market research companies by adopting and developing advanced market research technologies, methods and tools to improve their own market research capabilities, efficiency and quality. The main means of technology competition include: introducing and applying international leading market research technologies and methods, such as online market research, big data analysis, artificial intelligence, etc., to improve their own market research level and innovation; developing and creating their own market research technologies and methods, such as patented technology, professional models, exclusive tools, etc., to improve their own market research advantages and differentiation; cultivate and attract high-quality market research talents, such as professional researchers, data analysts, project managers, etc., to improve their own market research team and execution; establish and improve their own market research technology system and management system, such as technical standards, quality control, process optimization, etc., to improve their own market research quality and efficiency.

Price competition: the price competition of market research companies refers to the process of competition with other market research companies by formulating and adjusting the price strategy, price structure and price level of their own market research services to improve the cost performance, competitiveness and profitability of their own market research services. The main means of price competition include: according to the supply and demand situation of the market, the willingness of customers to pay, the price behavior of competitors and other factors, formulate reasonable price strategies for market research services, such as high-end pricing, low-price penetration, differentiated pricing and so on; according to the content, scope, difficulty, cycle and other factors of market research services, formulate reasonable price structure of market research services, such as fixed price, charging on time, charging according to effect, etc.; According to the cost, profit, risk and other factors of market research service, formulate reasonable price level of market research service, such as cost plus method, target return method, value pricing method, etc.; According to market changes, customer feedback, competition situation and other factors, timely adjust the price strategy, price structure and price level of market research service, to adapt to the needs of the market and the pressure of competition.

4. Industry trends

The industry trends of market research companies are mainly reflected in the following aspects:

Industry integration: The industry integration of market research companies refers to the trend of improving the concentration and competitiveness of the market research industry through mergers and acquisitions, cooperation, alliances, etc., to achieve resource sharing, capacity enhancement, and scale expansion among market research companies. The main driving forces of industry integration include: market saturation and fierce competition, prompting market research companies to seek economies of scale and synergy to reduce costs and risks, and improve efficiency and profits; the diversity and complexity of customers, prompting market research companies to seek Diversification and specialization to meet the different needs and expectations of customers, and improve customer satisfaction and loyalty; technological innovation and change, promote market research companies to seek technological advantages and innovation capabilities to adapt to market changes and development, and improve market leadership and competitiveness.

Industry internationalization: the industry internationalization of market research companies refers to the trend of realizing the international layout, international service and international development of market research companies through transnational operation, cross-border service and cross-cultural communication, and improving the internationalization level and influence of market research industry. The main driving forces of the internationalization of the industry include: the globalized economy and society, prompting market research companies to expand international markets and international customers to obtain more market opportunities and market share, and increase market coverage and income; diversified culture and value, Promote market research companies to enhance cross-cultural understanding and communication to adapt to different market environments and customer needs, improve market adaptability and customer trust; open policies and regulations encourage market research companies to strengthen international cooperation and exchanges to comply with different market rules and standards and improve market compliance and quality.

Industry intelligence: The industry intelligence of market research companies refers to the use and development of artificial intelligence, big data, cloud computing and other new technologies to realize the intelligent collection and analysis, intelligent processing, intelligent presentation, and intelligent application of market research companies. Purpose, improve the intelligent level and efficiency of the market research industry. The main driving forces of industry intelligence include: quantitative data and information, prompting market research companies to improve the ability and efficiency of data collection and analysis, so as to obtain more market insight and value, and improve market decision support and guidance; Complicated markets and customers have prompted market research companies to improve the ability and quality of data processing and presentation to generate more market reports and suggestions, improve market communication and influence; intelligent products and services, prompting market research companies to improve the ability and level of data application and innovation, in order to develop more market solutions and products, improve market satisfaction and creation.

Industry Issues for 2. Market Research Companies

The industry problems of market research companies mainly include the following aspects:

Data quality problems: Data quality problems refer to the problems of inaccurate, incomplete, inconsistent and untimely data in the process of collecting, sorting, analyzing and interpreting data by market research companies, which affect the results and effects of market research. The main causes of data quality problems include: unreliable and irregular data sources, such as the lack of effective standards and controls in data sampling, acquisition, and storage, which lead to data deviations and errors; unprofessional and unreasonable data processing, such as the lack of effective methods and technologies in data cleaning, conversion, and integration, which lead to data loss and confusion; data analysis is unscientific and unobjective, such as the lack of effective theories and tools in data statistics, modeling, inference and other links, leading to data misunderstanding and misleading; data interpretation is inaccurate and inappropriate, such as data expression, display, The lack of effective language and form in the description and other links leads to data ambiguity and misreading.

Service quality problem: Service quality problem refers to the problem of untimely, unprofessional and unsatisfactory service in the process of providing market research services by market research companies, which affects the reputation and efficiency of market research. The main causes of service quality problems include: the unclear and inconsistent service requirements, such as the lack of effective communication and negotiation in the purpose, scope, content and standards of market research, which leads to the mismatch and inadaptability of services; the non-standard and opaque service process, such as the lack of effective processes and systems in the planning, implementation and supervision of market research, lead to the instability and uncontrollable service; The untimely and unsatisfactory service results, such as the lack of effective delivery and evaluation of market research reports, suggestions, feedback, etc., lead to the untimely and unsatisfactory service; The disharmony and disharmony of service relationship, such as the lack of effective relationship and trust in the cooperation, maintenance and continuation of market research, lead to the disharmony and disharmony of service.

Talent quality problem: talent quality problem refers to the problem of shortage, unprofessional and unstable talents in the process of recruiting, training, managing and motivating market research talents, which affects the ability and efficiency of market research. The main reasons for the quality of talents include: the unclear and unreasonable demand for talents, such as the lack of effective analysis and planning in the positions, responsibilities, and requirements of market research, which leads to the mismatch and inadaptability of talents; the insufficient supply of talents And inadequate quality, such as the lack of effective channels and mechanisms for education, training, and introduction of market research, leading to insufficient and inadequate talents; the irregular and ineffective management of talents, such as the lack of effective systems and methods in the assessment, incentive and development of market research, leads to the irregular and ineffective talents; the unstable and uncontrollable flow of talents, such as the lack of effective strategies and measures in the retention, loss and competition of market research, leads to the instability and uncontrollable talents.

Industry Opportunities for 3. Market Research Companies

Industry opportunities for market research companies include the following:

Data value opportunities: Data value opportunities are opportunities for market research companies to maximize the value of data and provide more support and guidance for market research by improving the quality, efficiency, and innovation of data. The main ways of data value opportunities include: improving the quality of data, improving the accuracy, completeness, consistency and timeliness of data by adopting more reliable data sources, more professional data processing, more scientific data analysis and more accurate data interpretation, so as to improve the credibility and availability of data, by adopting faster data collection, more automatic data collation, more intelligent data analysis, more convenient data presentation, etc., to improve the speed, simplicity, ease of operation, ease of understanding and other aspects of data, improve data savings and efficiency; improve data innovation, by adopting more diverse data sources, more flexible data processing, more in-depth data analysis, more interesting data interpretation, etc., improve the diversity, difference, depth, interest and other aspects of data, and improve the creativity and value of data.

Service demand opportunities: Service demand opportunities refer to the opportunities for market research companies to maximize the value of market research services and provide more market and customer opportunities for market research by meeting and creating different needs of the market and customers. The main ways of service demand opportunities include: meeting the basic needs of the market and customers, by providing more timely market research services, more professional market research services, more satisfactory market research services, etc., to meet the market and customers' time needs, quality needs, satisfaction needs, etc., to improve the trust and loyalty of the market and customers; Meet the advanced needs of the market and customers, by providing more diversified market research services, more specialized market research services, more personalized market research services, etc., to meet the diverse needs, professional needs, and customized needs of the market and customers, and improve the choice of the market and customers And preferences; create the potential needs of the market and customers, by providing more cutting-edge market research services, more innovative market research services, more beyond the market research services, etc., to create the future needs of the market and customers, novel needs, surprise needs, etc., to improve the market and customer leadership and creativity.

Talent development opportunities: Talent development opportunities refer to market research companies that maximize the value of market research talents by improving the quality, ability, and innovation of market research talents, and provide more opportunities for talents and intelligence for market research. The main ways of talent development opportunities include: improving the quality of market research talents, improving the knowledge, skills, and attitudes of market research talents by providing more systematic market research education, more comprehensive market research training, and richer market research experience. In other aspects, improve the professionalism and adaptability of market research talents; improve the ability of market research talents, by providing clearer market research responsibilities, more reasonable market research assessment, more effective market research incentives and other ways to improve the responsibility, performance, motivation and other aspects of market research talents, improve the implementation and efficiency of market research talents; improve the innovation of market research talents, by providing a more open market research environment, more diversified market research resources, and more supportive market research policies, we can improve the thinking, methods, and products of market research talents, and improve the creativity and value of market research talents.

Conclusion

Market research companies are the main participants and promoters of the market research industry, and their development status and trends directly affect the overall level and prospects of the market research industry. The industry analysis and outlook of the market research company requires a comprehensive and in-depth analysis from the three aspects of the market research company's industry status, industry problems and industry opportunities, as well as a dynamic and forward-looking outlook from the four aspects of the market research company's industry scale, industry structure, industry competition and industry development trends. The industry analysis and outlook of market research companies can not only provide reference and guidance for the strategic planning and development of market research companies, but also provide basis and suggestions for the supervision and promotion of market research industry. The industry analysis and outlook of the market research company is an important task and responsibility of the market research company, and it is also the common vision and goal of the market research industry.