Market research refers to the collection, collation, analysis and interpretation of market-related information to help companies understand the current situation and trends of the market, identify market opportunities and problems, and develop and evaluate market strategies and plans. Market research is an important basis for strategic decision-making and the driving force for the continuous optimization of brands, products and services. The content and form of market research can vary according to different purposes and needs, but generally follow certain processes and methods, using some professional tools and techniques to ensure the effectiveness and scientificity of market research.

Shangpu Consulting is a well-known independent third-party research and investment and financing consulting agency in China, founded in 2008. Shangpu Consulting has accumulated rich professional experience and customer resources in the fields of industry research, market research, investment and financing consulting, and IPO listing consulting. With strong consulting innovation capabilities, first-class service quality, and strong market competitiveness, it has been well received by the society. Highly recognized by all walks of life, it has now become one of the most leading and authoritative independent third-party research and investment and financing consulting institutions in China.

As one of the earliest consulting institutions to provide special market research services in China, Shangpu consulting service customers cover many industries, and has become the most influential domestic leading brand of market research in China. and won the "China Market Research customer satisfaction Best Brand Award", with the "the People's Republic of China Foreign-related investigation license" issued by the National Bureau of Statistics of China ".

The purpose of this paper is to explore the best practices of Shangpu Consulting in the field of market research, including market research processes, methods, tools, cases, etc., in order to provide some useful reference and enlightenment for market research practitioners and learners.

1. market research process

The market research process generally includes the following four steps:

Determine the purpose of the research: clarify the background, objectives, scope, objects, content, requirements, etc. of the market research, and provide guidance for the subsequent design of the research plan.

Design research plan: according to the purpose of the research, select the appropriate research methods, tools, samples, time, budget, etc., to develop a detailed research plan and implementation plan.

Collection and collation of data: according to the research plan, various methods are used to ask questions or solicit opinions from the respondents, collect information related to the market, and sort out, summarize, classify and code the collected information to make it easy to analyze and explain.

Production of research reports: analyze and explain the collected data to obtain the results of the research.Conclusionand recommendations, expressed in written form, to form a research report, to the client or related parties to submit.

Shangpu Consulting followed the above basic steps in the process of market research, but also made some innovations and optimizations according to different projects and customer needs to improve the efficiency and quality of market research. For example, when determining the purpose of research, Shangpu Consulting will fully communicate and communicate with customers, understand their real needs and expectations, clarify the value and significance of market research, and avoid doing useless or repetitive work.

When designing the research plan, Shangpu Consulting will select appropriate research methods and tools according to different research contents and objects, such as in-depth interviews, concentrated groups, questionnaires, online research, field research, special research, etc., as well as corresponding data collection and analysis software, such as SPSS, Excel, PowerBI, etc., to ensure the effectiveness and scientificity of the research.

When collecting and sorting out data, Shangpu Consulting will use its own research platform and sample library, as well as multiple mainstream channels such as e-commerce, social media, and recruitment platforms to gain in-depth insight into consumer behavior and attitude data, and quickly and efficiently recover Questionnaires and obtain information, but also strictly clean and verify the collected data, eliminate invalid and abnormal data, and ensure the authenticity and accuracy of the data.

When making the research report, Shangpu Consulting will select the appropriate report form and style, such as PPT, Word, PDF, etc., as well as appropriate charts and graphs, such as histogram, pie chart, radar chart, scatter chart, etc., according to the customer's needs and preferences, to present the research results and analysis in an intuitive and vivid way, and combine the customer's industry background and market environment, put forward targeted suggestions and strategies to help customers solve market problems, grasp market opportunities and enhance market competitiveness.

2. methods of market research

Market research methods are generally divided into two categories: qualitative research and quantitative research.

Qualitative research refers to the collection and analysis of non-numerical information related to the market in an unstructured or semi-structured way to reveal the nature and connotation of the market, discover the deep needs and motivations of the market, and understand the behavior and attitude of the market. Common methods of qualitative research include in-depth interviews, concentrated groups, observation, and case studies.

Quantitative research refers to a research method that collects and analyzes numerical information related to the market in a structured way to describe the phenomena and characteristics of the market, measure the size and share of the market, and predict the changes and trends of the market. The common methods of quantitative research are questionnaire, experimental method, mathematical statistics and so on.

Qualitative research and quantitative research have their own advantages and disadvantages, and generally need to be used in combination to complement and verify, in order to improve the comprehensiveness and credibility of market research. In the method of market research, Shangpu Consulting flexibly uses qualitative research and quantitative research methods according to different research purposes and contents, or adopts a mixed research method, and conducts qualitative research and quantitative research at the same time to obtain more market information and insights.

For example, when conducting market demand analysis, Shangpu Consulting will first understand the needs and preferences of consumers in the target market through in-depth interviews and concentrated groups, discover potential opportunities and problems in the market, and then through questionnaire surveys, Quantify and measure consumer needs and preferences to obtain the scale and structure of market demand, as well as market demand changes and trends.

When conducting market competition analysis, Shangpu Consulting will first understand the strategies and behaviors of competitors in the target market through observation and case analysis, discover the advantages and disadvantages of competitors, and then use experimental methods and mathematical statistics to evaluate and compare the strategies and behaviors of competitors, and obtain the market competition pattern and strength, as well as the market competition changes and trends.

3. market research tools

Market research tools refer to some equipment, software, platforms, models, frameworks, etc. used to collect, organize, analyze and present market information in the process of market research. The choice and use of market research tools directly affect the efficiency and quality of market research. There are many types of market research tools, and different tools have different functions and characteristics. Generally, it is necessary to select the appropriate tools according to different research methods and contents to maximize the effect.

Shangpu Consulting has continuously introduced and innovated market research tools to adapt to the development and changes of market research and improve the level and ability of market research. For example, when collecting market information, Shangpu Consulting will use its own research platform and sample library, as well as multiple mainstream channels such as e-commerce, social media, and recruitment platforms to gain in-depth insight into consumer behavior and attitude data, and quickly and efficiently Collect questionnaires and obtain information. At the same time, it will also use intelligent voice recognition, video recording, scanners and other equipment to facilitate the recording and preservation of respondents' answers and reactions.

When sorting out market information, Shangpu Consulting will use SPSS, Excel, PowerBI and other data collection and analysis software to facilitate the sorting, induction, classification, coding and other processing of the collected data, making it easy to analyze and interpret. When analyzing market information, Shangpu Consulting will use SWOT, PEST, 5 forces, 4P, STP and other market analysis models and frameworks to facilitate systematic and comprehensive analysis and interpretation of the current situation and trends, opportunities and problems, competition and strategies of the market.

When presenting market information, Shangpu Consulting will use report making software such as PPT, Word and PDF, as well as charts and graphs such as histogram, pie chart, radar chart and scatter chart to present the research results and analysis in an intuitive and vivid way, and put forward targeted suggestions and strategies in combination with the customer's industry background and market environment.

4. case of market research

The case of market research refers to some representative or enlightening actual situations or events in the process of market research, which can be used as a reference or reference for market research. Market research cases can help market research practitioners and learners to understand the actual operation and application of market research, learn the experience and lessons of market research, and improve the skills and level of market research.

In the case of market research, Shangpu Consulting has rich market research experience and customer resources. It has provided professional market research and related consulting services to more than 5000 customers. The service customers cover multiple industry fields and involve multiple market research. The theme and content have formed a large number of market research cases, which can be used as models and examples of market research. The following are some of the market research cases of Champ Consulting:

Case 1: User Satisfaction Survey of a Well-known Internet Company

A well-known Internet company is one of the largest online travel service platforms in China, providing a variety of travel products and services such as air tickets, hotels, train tickets, bus tickets, travel vacations, and scenic spot tickets. The company hopes to understand the usage and satisfaction of users on its platform, as well as the needs and preferences of users, in order to optimize the functions and services of the platform and improve the loyalty and reputation of users.

Shangpu Consulting provided the company with user satisfaction research services. Through online research, it distributed an online questionnaire containing multiple questions to registered users and active users of the platform, involving users' basic information, frequency of use, A total of 10000 valid questionnaires were collected in terms of usage scenarios, usage experience, satisfaction evaluation, improvement suggestions, etc. Champ Consulting conducted a statistical analysis of the collected questionnaire data and drew the following main conclusions and recommendations:

The overall satisfaction of users with the platform is relatively high, with an average score of 4.2 (out of 5), of which 32% are very satisfied, 48% are satisfied, 15% are general users, 4% are dissatisfied, and 1% are very dissatisfied.

Users have different satisfaction with the various functions and services of the platform. The highest is the air ticket booking function, with an average score of 4.5 points, and the lowest is the scenic spot ticket function, with an average score of 3.8 points. Users have a high degree of recognition of the platform's advantageous functions and services, such as preferential prices, rich products, convenient payment, flexible refund and reform, etc. Users have a high degree of dissatisfaction with the platform's inferior functions and services, such as customer service response, after-sales processing, activity push, page design, etc.

The needs and preferences of users have certain differences. According to the user's frequency of use, use scenarios, use experience and other factors, users can be divided into four categories: loyal users, potential users, lost users and new users. Loyal users refer to users who often use the platform, are satisfied with the functions and services of the platform, and have high loyalty and reputation, accounting for 40% of the total number of users.

Potential users refer to users who occasionally use the platform, have certain expectations for the functions and services of the platform, and have a large space for development, accounting for 30% of the total number of users. Lost users refer to users who have used the platform and are not satisfied with the functions and services of the platform, and have a higher risk of loss, accounting for 15% of the total number of users. New users refer to users who have recently started to use the platform, do not know much about the functions and services of the platform, and have greater learning needs, accounting for 15% of the total number of users.

According to the results of the user satisfaction survey, Shangpu Consulting put forward the following suggestions and strategies for the company: first, strengthen the optimization and innovation of the core functions and services of the platform, improve the user experience and satisfaction, and consolidate and expand the market advantages and competitiveness of the platform. The second is to increase the auxiliary functions of the platform and the improvement and promotion of services, solve the user's use problems and unsatisfied points, increase the user's convenience and trust, and reduce the user's churn rate and complaint rate.

The third is to develop and promote the personalized functions and services of the platform to meet the personalized needs and preferences of users, increase the fun and loyalty of users, and improve the conversion rate and repurchase rate of users. The fourth is to implement the differentiated functions and service design and positioning of the platform, provide different functions and services for different types of users, increase the use value and identity of users, and form market segments and loyal groups of users.

Case 2: Research on the listing of new products by a well-known FMX company

A well-known fast consumer product company is one of the largest daily chemical products production and sales companies in China. It has a number of well-known brands and products, covering shampoo, shower gel, toothpaste, laundry detergent and other categories. The company plans to launch a new shampoo product featuring natural plant ingredients and hair care effects, targeting female consumers aged 25-35. The company wants to understand the needs and preferences of consumers in the target market, as well as their perceptions and attitudes towards new products, in order to develop appropriate product positioning and marketing strategies.

Shangpu Consulting provides the company with the service of new product listing research, through the way of mixed research, qualitative research and quantitative research at the same time, in order to obtain more market information and insight. Through in-depth interviews and concentrated groups, Shangpu Consulting first invited 30 female consumers in the target market to understand their use and satisfaction with shampoo products, as well as their expectations and views on new products, and found potential market opportunities and problems.

Then, through a questionnaire survey, an online questionnaire containing multiple questions was distributed to 1000 female consumers in the target market, involving consumers' basic information, usage habits, purchasing behavior, brand preferences, new product awareness, etc. A total of 800 valid questionnaires were collected. Champ Consulting conducted a statistical analysis of the collected questionnaire data and drew the following main conclusions and recommendations:

Consumers in the target market have a high demand for shampoo products, using them 3.5 times a week on average, buying 1.2 bottles a month on average, and spending an average of 25.6 yuan per bottle. There are three main criteria for consumers to choose shampoo products: first, ingredients. Consumers are more inclined to choose natural, safe and non-irritating ingredients, and avoid harmful or controversial ingredients such as silicone oil, preservatives and pigments;

The second is efficacy. Consumers are more inclined to choose products with hair care, repair, and nourishment to improve hair dryness, bifurcation, and hair loss; the third is aroma. Consumers are more inclined to choose fresh, natural, and lasting products. Products with fragrances enhance the comfort and pleasure of use.

Consumers in the target market have a positive perception and attitude towards new products, with an average score of 3.9 (out of 5), of which 28% are very interested, 45% are interested, 22% are ordinary, 4% are not interested, and 1% are very uninterested. Consumers have a high degree of recognition of the advantages of new products, such as natural plant ingredients, hair care efficacy, fresh aroma, etc., and consumers are less dissatisfied with the disadvantages of new products, such as high prices, ordinary packaging, and unfamiliar brands. Wait.

According to the results of the new product listing survey, Shangpu Consulting has put forward the following suggestions and strategies for the company: First, highlight the core advantages of the new product, that is, natural plant ingredients and hair care effects, and improve consumers through effective product promotion and promotion. Cognition and trust, create the differentiation and characteristics of new products, and increase the attractiveness and competitiveness of new products. The second is to reduce the core disadvantages of new products, that is, high prices, ordinary packaging, and unfamiliar brands. Through reasonable pricing strategies and promotional activities, consumers' purchase costs and risks are reduced, consumers' willingness to buy and trial rates are increased, and new products are increased. Market share and reputation.

The third is to meet the individual needs and preferences of consumers, through diversified product series and specifications, as well as multi-channel sales network, to meet the different needs and preferences of different consumers, increase the fun and loyalty of consumers, and improve the conversion rate and re-purchase rate of new products. The fourth is to cultivate consumers' brand identity and loyalty, through continuous brand building and maintenance, as well as interaction and communication with consumers, enhance consumers' awareness and trust in the brand, form consumers' brand preference and loyalty, and improve the brand value and influence of new products.

Case 3: Market research of a well-known educational institution

A well-known educational institution is one of the largest online education platforms in China, providing online education services for all ages and disciplines from young children to adults, with more than 0.1 billion registered users and more than 5000 professional teachers. The organization hopes to understand the current situation and trends of the online education market, as well as its own position and performance in the market, in order to formulate appropriate development strategies and marketing strategies.

Shangpu Consulting provides market research services for the institution. Through field research and network research, it collects and analyzes relevant information about the online education market, including market size, structure, growth, competition, users, products, and services. In terms of, the following main conclusions and suggestions are drawn:

The online education market is a fast-growing market, which is driven by Internet technology and social needs, showing the characteristics of rapid growth, diversification, personalization, and intelligence.

The online education market is a diversified market, covering online education services of all ages and disciplines from young children to adults, including preschool education, K12 education, higher education, vocational education, interest education and other segments.

Online education market is a highly competitive market, there are many online education platforms and institutions, each with different advantages and characteristics, competing for market share and user's mind.

The online education market is a personalized market. Users have certain differences in their needs and preferences for online education. According to users' age, gender, education, income, region, interests and other factors, users can be divided into different market segments and user portraits to provide online education services that are more in line with users' needs and preferences.

According to the results of market research, Shangpu Consulting has put forward the following suggestions and strategies for the institution: first, grasp the development trend of the online education market, constantly innovate and optimize the products and services of online education, improve the learning effect and satisfaction of users, and consolidate and expand the market share and leading position of online education. The second is to understand the competitive landscape of the online education market, continuously analyze and evaluate the strategies and behaviors of competitors, discover the strengths and weaknesses of competitors, formulate and implement effective competitive strategies and actions, and increase the market competitiveness and influence of online education.

The third is to meet the diversified needs of the online education market, continuously develop and launch online education services that meet different segments and different user portraits, increase the market coverage and user loyalty of online education, and improve the market value and reputation of online education. The fourth is to cultivate personalized preferences in the online education market, continuously optimize and personalize the content and form of online education, increase the user experience and user stickiness of online education, and improve the user conversion rate and repurchase rate of online education.