What is market research and what are the types and methods of market research?

Market research (Market Research) refers to the collection, collation, analysis and interpretation of market-related information to understand the current situation and trends of the market, assess market opportunities and risks, and provide the basis and recommendations for marketing and management activities. The objects of market research include consumers, competitors, channels, policies, environment and other market factors, and the contents of market research include market characteristics such as market size, structure, distribution, demand, preference, satisfaction, loyalty, behavior, influencing factors and so on.

The types of market research can be classified according to different dimensions. The common classification methods are:

According to the purpose of market research, it can be divided into exploratory market research and descriptive market research. Exploratory market research refers to the discovery of market problems or opportunities and the presentation of market assumptions or assumptions through open methods such as literature analysis, in-depth interviews, focus groups, etc., when market problems or opportunities are not clear. Descriptive market research refers to the verification of market assumptions or assumptions and the description of market characteristics or relationships through structured methods, such as questionnaires, experiments, observations, etc., when market problems or opportunities have been identified.

According to the data source of market research, it can be divided into primary market research and secondary market research. First-hand market research refers to the method of collecting data directly from market elements, such as interviews, questionnaires, experiments, observations, etc., to obtain original, targeted, and unique market information. Second-hand market research refers to the use of existing, by other institutions or individuals to collect data methods, such as literature analysis, report reading, database queries, etc., to obtain indirect, general, shared market information.

According to the nature of market research data, it can be divided into qualitative market research and quantitative market research. Qualitative market research refers to the analysis of the meaning, feelings, motivations, and attitudes of the market through non-numerical, subjective, and descriptive data methods, such as text, images, sounds, and videos. Quantitative market research refers to the analysis of market size, structure, distribution, correlation, impact, etc. through numerical, objective, statistical data methods, such as numbers, percentages, proportions, etc.

The method of market research refers to the specific techniques and tools used to collect, organize, analyze and interpret market information in the process of market research. There are many methods of market research, and the common methods are:

Interviewing (Interview) refers to a method of obtaining their views and feedback on market issues or opportunities through face-to-face or telephone or online conversations with market elements. The advantage of the interview is that it can obtain in-depth, detailed and personalized market information. The disadvantage of the interview is that it takes more time and cost, and the subjectivity and prejudice of the interviewee are more influential.

A questionnaire (Questionnaire) is a method of obtaining answers and evaluations of market questions or opportunities by issuing or sending a series of questions or statements to market elements. The advantage of the questionnaire is that it can obtain extensive, standardized and quantitative market information. The disadvantage of the questionnaire is that it needs to design reasonable questions and options, and the response rate and authenticity of the interviewees have a greater impact.

Experiment (Experiment) refers to the method of changing certain variables of market elements in a controlled or simulated market environment in order to observe their impact on market results. The advantage of the experiment is that accurate, causal and confirmatory market information can be obtained, but the disadvantage of the experiment is that it needs to design a reasonable experimental scheme and conditions, and is greatly influenced by the operability and generalization of the experiment.

Observation (Observation) refers to the method of observing the behavior or phenomenon of market elements directly or indirectly in order to obtain their performance and response to market problems or opportunities. The advantage of observation is that natural, intuitive and behavioral market information can be obtained. The disadvantage of observation is that it needs to choose the appropriate observation object and method, and is greatly influenced by the consciousness and interference of the observer.

The method of market research should be selected and combined according to the purpose, type, source and nature of the data in order to achieve the best market research results. In general, exploratory market research is more suitable for the use of qualitative, first-hand, interview or observation methods, descriptive market research is more suitable for the use of quantitative, second-hand, questionnaire or experimental methods. Of course, this is not absolute. The method of market research should be flexibly adjusted and innovated according to specific market conditions and needs.

Why do you need market research, and what is the value and role of market research?

The value and role of market research is mainly reflected in the following aspects:

Increase market sensitivity. Market research can help companies discover and grasp market changes and opportunities in a timely manner, such as consumer needs and preferences, competitors' strategies and actions, channel development and changes, policy formulation and implementation, environmental impacts and trends, etc., thereby improving their market sensitivity and adaptability.

Reduce market risk. Market research can help companies effectively assess and control market risks, such as market uncertainty and complexity, market competition and threats, market obstacles and restrictions, market failures and failures, etc., thereby reducing market risks and costs.

Optimize market decisions. Market research can help enterprises to scientifically formulate and implement market decisions, such as market positioning and objectives, market strategies and plans, market organization and resources, market activities and measures, etc., so as to optimize the market decisions and effects of enterprises.

Enhance market competitiveness. Market research can help enterprises effectively enhance and differentiate the competitiveness of the market, such as product quality and innovation, brand awareness and image, price rationality and competitiveness, promotion methods and effects, service level and satisfaction, so as to enhance the market competitiveness and advantages of enterprises.

The value and role of market research is obvious, but not all companies can fully understand and use the value and role of market research. Many companies will encounter the following problems when conducting market research:

Lack of awareness and attention to market research. Many enterprises think that market research is dispensable, or a report bought with money, rather than their own needs. Therefore, they lack understanding and attention to the significance and necessity of market research, resulting in poor quality and effect of market research.

Lack of market research knowledge and skills. Many companies believe that market research is simple or can be done on their own, rather than requiring professional knowledge and skills, and therefore lack of understanding and mastery of market research methods and processes, resulting in unreliable market research processes and results.

Lack of resources and investment in market research. Many companies believe that market research is cheap, or can be saved, rather than the need for sufficient resources and investment, so the time and cost of market research lack of support and protection, resulting in the scope and depth of market research is not enough.

Lack of application and transformation of market research. Many companies believe that market research is over, or can be placed, rather than need to be applied and transformed, so the lack of application and implementation of market research analysis and recommendations, resulting in the value and role of market research does not play.

These problems show that many enterprises in the market research, there are some misunderstandings and obstacles, need to improve the market research awareness, knowledge, resources and application, to improve the situation and effect of market research. Of course, this does not mean that enterprises must conduct their own market research, but that enterprises need to have a clear market research needs and objectives, as well as a reasonable way and channel of market research. This involves the next question: when is market research needed, and what are the applicable scenarios and conditions for market research?

When do you need market research and what are the applicable scenarios and conditions for market research?

The applicable scenarios and conditions of market research mainly depend on the market conditions and needs of the enterprise. Generally speaking, the following situations require market research:

changes in the market environment. When the market environment has undergone major changes, such as policy adjustments, intensified competition, technological innovation, consumer changes, etc., companies need to understand and adapt to the new situation and new rules of the market in a timely manner to avoid falling behind the market or missing the market. At this time, market research is needed to obtain the latest information and trends of the market, as well as market opportunities and risks.

Development of market strategy. When companies need to develop or adjust market strategies, such as market positioning, goals, segmentation, selection, entry, development, etc., companies need to have a clear market direction and goals, as well as an effective market method and plan. Market research is needed to determine market demand and potential, as well as market strengths and weaknesses.

Execution of campaigns. When a company needs to implement or evaluate market activities, such as product development, testing, promotion, improvement, etc., the company needs to have a feasible market plan and measures, as well as a reliable market feedback and effect. At this time, market research is needed to test The acceptance and satisfaction of the market, as well as the impact and results of the market.

market problem solving. When enterprises encounter market problems, such as market saturation, recession, crisis, competition, complaints, etc., enterprises need to have an effective market countermeasures and solutions, as well as a restored market confidence and image, this time need to conduct market research to analyze the causes and effects of the market, as well as the improvement and optimization of the market.

The above situations are not completely mutually exclusive, but interrelated. Enterprises may need to conduct market research in different market stages and links to support and promote market development and success. Of course, this is not to say that enterprises need to conduct market research at any time, but that enterprises need to reasonably arrange and plan the time and frequency of market research according to their own market conditions and needs, so as to avoid excessive or insufficient market research. In general, the following situations do not require market research:

sufficient market information. When market information is sufficient and accurate enough to meet the needs of the company's market decisions and activities, no additional market research is required to avoid duplication and waste of market information.

Clear market issues. When the market problem has been very clear and identified, can be directly supported by the enterprise's market countermeasures and solutions, no need to conduct in-depth market research, so as not to cause delays and complications of market problems.

The urgency of market opportunities. When market opportunities are already very urgent and limited, and companies need to take immediate market actions and measures, there is no need to conduct detailed market research to avoid market opportunities and losses.

Controllable market risk. When the market risk has been very controllable and acceptable, will not have a significant impact on the market objectives and effects of enterprises and threats, there is no need to conduct too much market research, so as not to cause market risk amplification and panic.

The above several situations are not completely absolute, but relatively flexible, enterprises in different market conditions and needs, may not need to conduct market research, in order to save the time and cost of market research, as well as improve the efficiency and effectiveness of market research. Of course, this does not mean that companies can completely ignore market research, but that companies need to have a reasonable judgment and balance of market research to avoid blindness or indifference to market research.

In summary, the applicable scenarios and conditions of market research are diverse. Enterprises need to flexibly choose and arrange the timing and frequency of market research according to their own market conditions and needs to achieve the best market research results. Of course, this does not mean that companies can conduct market research at will, but that companies need to have a professional market research partner and channel to ensure the quality and level of market research. This involves the next question: how to choose a market research company, and what are the evaluation and selection criteria for a market research company?

How to choose a market research company, and what are the evaluation and selection criteria for a market research company?

A market research company refers to an institution or individual that specializes in market research services. The main function of a market research company is to provide enterprises with services such as market research design, execution, analysis and reporting. The main advantage of a market research company is that it has professional market research The knowledge, skills, resources and experience of the company can help companies improve the efficiency and effectiveness of market research and reduce the risks and costs of market research.

The choice of market research company is an important part of market research, the choice of market research company will directly affect the quality and level of market research, as well as the value and role of market research. Therefore, when choosing a market research company, companies need to have a clear market research needs and objectives, as well as a comprehensive market research company evaluation and selection criteria, in order to find the most suitable market research company. Generally speaking, the following aspects are the main criteria for evaluating and selecting market research companies:

Professionalism of market research companies. The professionalism of a market research company refers to the level and degree of knowledge, skills, resources and experience of the market research company in the field of market research. The professionalism of the market research company can be evaluated from the following aspects:

Qualification and certification of market research companies. The qualification and certification of a market research company refers to whether the market research company has legal business license, tax registration certificate, social insurance certificate and other relevant certificates and documents, and whether it has passed the certification and audit of international or domestic market research associations or institutions, such as ESOMAR, MRS, CMRA, etc. The qualification and certification of a market research company can reflect the legality and standardization of the market research company.

The team and equipment of the market research company. The team and equipment of the market research company refer to whether the market research company has professional market research personnel and facilities, such as market research project managers, analysts, interviewers, editors, etc., as well as market research software, hardware, network, Database, etc., the team and equipment of the market research company can reflect the ability and level of the market research company.

Methods and processes of market research companies. The methods and processes of the market research company refer to whether the market research company has scientific market research technologies and tools, such as market research design, implementation, analysis and reporting, and whether it has standardized market research management and control, such as market research planning, communication, supervision and evaluation. The methods and processes of the market research company can reflect the quality and effect of the market research company.

Experience and cases of market research companies. The experience and cases of market research companies refer to whether the market research companies have rich market research practices and results, such as market research industries, fields, themes, customers, scale, effects, etc., and the experience and cases of market research companies can reflect the professionalism and credibility of market research companies.

suitability of market research firms. The suitability of a market research company refers to whether the market research company can meet the needs and objectives of the enterprise's market research, and the suitability of the market research company can be evaluated from the following aspects:

The scope and content of the market research company's services. The service scope and content of the market research company refers to whether the market research company can provide the types and methods of market research required by the enterprise, such as exploratory or descriptive, qualitative or quantitative, first-hand or second-hand, interview or questionnaire or experiment or observation, etc. The service scope and content of the market research company can reflect the matching degree and coverage of the market research company.

market research company's service quality and level. The service quality and level of the market research company refers to whether the market research company can provide the efficiency and effect of the market research expected by the enterprise, such as the time and progress of the market research, the data and analysis of the market research, the report and suggestion of the market research company, etc. The service quality and level of the market research company can reflect the satisfaction and evaluation of the market research company.

Market research company's service price and cost performance. The service price and cost performance of the market research company refer to whether the market research company can provide the cost and input of the market research that the enterprise can bear, such as the cost and budget of the market research, the return and income of the market research, and the service price and cost performance of the market research company can reflect the rationality and competitiveness of the market research company.

Service attitude and communication of market research company. The service attitude and communication of the market research company refers to whether the market research company can provide the support and cooperation of the market research required by the enterprise, such as the communication and feedback of the market research, the modification and adjustment of the market research, the confidentiality and trust of the market research company, etc. The service attitude and communication of the market research company can reflect the friendliness and cooperation of the market research company.

Differences in market research companies. The difference of market research company refers to whether the market research company can provide the value and advantages of market research that the enterprise does not have or lacks. The difference of market research company can be evaluated from the following aspects:

Innovation and leadership in market research firms. The innovation and leadership of a market research company refers to whether the market research company can provide market research technologies and tools that the company does not know or is not familiar with, such as new methods, new models, new platforms, new data, etc. The innovation and leadership of the market research company can reflect the advancement and leadership of the market research company.

The professionalism and depth of the market research company. The professionalism and depth of the market research company refers to whether the market research company can provide the knowledge and experience of market research that the company is not good at or does not have in-depth market research, such as the professional field of market research, professional theme, professional perspective, professional depth, etc. The professionalism and depth of the market research company can reflect the specialization and concentration of the market research company.

Customer and customization of market research companies. The customer and customization of a market research company refers to whether the market research company can provide the unique or required market research services and solutions of the enterprise, such as customer needs, customer objectives, customer background, customer cases, etc. The customer and customization of a market research company can reflect the individualization and differentiation of the market research company.

The above aspects are not completely independent, but interrelated. When evaluating and selecting market research companies, enterprises need to consider the professionalism, suitability and differences of market research companies in order to find the market research companies that best meet their own market research needs and objectives. Of course, this does not mean that companies can freely evaluate and select market research companies, but rather that companies need to have an effective method and process for comparing and selecting market research companies to avoid misselection or misselection of market research companies.

In summary, the evaluation and selection of market research companies is an important part of market research, enterprises need to be based on their own market research needs and objectives, a comprehensive assessment and selection of market research companies of professionalism, suitability and differences, in order to find the most suitable for their own market research companies. Of course, this does not mean that enterprises can rely entirely on market research companies, but that enterprises need to have a good market research company cooperation and communication to ensure the process and effect of market research. This involves the next question: how to cooperate with market research companies, what are the process and precautions of market research?

How to cooperate with market research companies, what are the process and precautions of market research?

The cooperation and communication of market research companies is an important part of market research, and the cooperation and communication of market research companies will directly affect the quality and level of market research, as well as the value and role of market research. Therefore, when companies cooperate and communicate with market research companies, they need to have a clear market research process and precautions to ensure the smooth and successful market research. Generally speaking, the following steps are the main process and precautions of market research:

Identify market research needs and objectives. This is the first and most important step in market research. Enterprises need to know why they want to conduct market research and what kind of information and results they want to get through market research. The needs and objectives of market research should be specific, clear, quantifiable and achievable, rather than vague, general, difficult to measure and unrealistic.

The needs and objectives of market research should be consistent with the market conditions and needs of the company, not with the scope and content of the market research company's services. The needs and objectives of market research should be put forward and determined by the enterprise itself, not by the market research company. The needs and objectives of market research are the starting point and destination of market research, the basis for the design and evaluation of market research, the basis for cooperation and communication of market research, and the driving force for the application and transformation of market research.

Select a market research company. This is the second step of market research, but also a more critical step, enterprises need to be based on their own market research needs and objectives, as well as the market research company's professionalism, suitability and differences, the evaluation and selection of market research companies. The evaluation and selection of market research companies should be objective, comprehensive, meticulous and comparative, rather than subjective, one-sided, rough and random.

The evaluation and selection of market research companies should be multi-faceted, multi-level, multi-dimensional and multi-angle, rather than single, single-level, one-way and one-sided. The evaluation and selection of market research companies should be based, standard, methodological and process-based, not groundless, standard-free, methodless and process-free. The evaluation and selection of market research companies is an important part of market research, the guarantee of the quality and level of market research, and the guarantee of the value and function of market research.

Sign a market research contract. This is the third step of market research and a more formal step. Enterprises and market research companies need to sign market research contracts after determining the needs and objectives of market research and selecting market research companies. in order to clarify the rights and obligations of both sides of market research, as well as the specific contents and details of market research. Market research contracts should be complete, clear, specific, and clear, not missing, vague, general, and vague.

The market research contract should include the needs and objectives of market research, the service scope and content of market research, the service quality and level of market research, the service price and cost performance of market research, the service attitude and communication of market research, the time and progress of market research, the data and analysis of market research, the reports and suggestions of market research, the confidentiality and trust of market research, the modification and adjustment of market research, and the market research. Terms and conditions related to the supervision and evaluation of research, responsibilities and risks of market research, disputes and resolution of market research, etc. Market research contract is the legal basis of market research, the restraint and protection of both sides of market research, and the bridge and link of cooperation and communication in market research.

Perform market research. This is the fourth and core step of market research. Market research companies need to carry out market research according to market research contracts and market research methods and processes to collect, organize, analyze and explain market information in order to meet the needs and objectives of market research. The implementation of market research should be professional, standardized, scientific and effective, rather than amateur, random, blind and ineffective.

The implementation of market research should be planned, communicated, supervised and evaluated, rather than unplanned, uncommunicated, unsupervised and unevaluated. The execution of market research is the core link of market research, the source of market research data and analysis, the basis of market research reports and recommendations, and the realization of the value and role of market research.

Submit market research report. This is the fifth and final step of market research. After completing the implementation of market research, market research companies need to submit market research reports according to market research contracts and market research methods and processes to present and explain market information, as well as provide and recommend market decisions to meet the needs and objectives of market research. The market research report should be complete, clear, specific and clear, not missing, vague, general and vague.

The market research report should include the background and purpose of the market research, the methods and processes of the market research, the data and analysis of the market research, the conclusions and recommendations of the market research, the limitations and deficiencies of the market research, the appendices and references of the market research and other relevant contents and details. Market research report is the result of market research, the information transmission of market research, the decision support of market research, and the display of the value and function of market research.

The above five steps are the main process and precautions of market research. Enterprises and market research companies need to cooperate and communicate in market research according to this process to ensure the smooth and success of market research. Of course, this does not mean that the market research is over, but that enterprises need to have an effective application and transformation of market research to ensure the effect and significance of market research. This involves the last question: how to apply and transform market research, what is the value and role of market research?

How to apply and transform market research, what is the value and function of market research?

The application and transformation of market research is the ultimate purpose and significance of market research. The application and transformation of market research refers to how enterprises make market decisions and actions according to the results and suggestions of market research in order to achieve the goals and effects of the market. The application and transformation of market research should be timely, effective, continuous and improved, rather than delayed, ineffective, intermittent and stagnant.

The application and transformation of market research should be consistent with the needs and objectives of market research, in line with the results and recommendations of market research, in line with market conditions and needs, and in line with market changes and opportunities. The application and transformation of market research should be strategic, planned, executed, and monitored, not unstrategically, unplanned, unexecuted, and unmonitored. The application and transformation of market research is the embodiment of the value and function of market research, the measurement of the investment and return of market research, and the evaluation of the success and failure of market research.

The value and role of market research is mainly reflected in the following aspects:

Market research can help enterprises to improve market sensitivity, reduce market risk, optimize market decision-making and enhance market competitiveness. This is the basic value and role of market research, which can provide enterprises with market information and analysis to support and promote the development and success of the market.

Market research can help companies discover and grasp market changes and opportunities in a timely manner, assess and control market risks, formulate and implement market strategies and plans, enhance and differentiate market products and services, thereby increasing market sensitivity and reducing market risks, Optimize market decision-making, and enhance market competitiveness.

Market research can help companies understand consumers, satisfy consumers, retain consumers, and attract consumers. This is the core value and role of market research. Market research can provide enterprises with consumer information and analysis to support and promote consumer satisfaction and loyalty. Market research can help companies understand consumer needs and preferences, meet consumer expectations and requirements, retain consumer trust and support, attract consumer attention and interest, so as to understand consumers, meet consumers, retain consumers, attract consumers.

Market research can help enterprises to innovate products, optimize products, promote products and improve products. This is the innovative value and role of market research, which can provide enterprises with product information and analysis to support and promote product development and improvement. Market research can help enterprises to innovate the design and function of products, optimize the quality and performance of products, promote the publicity and sales of products, and improve the service and feedback of products, so as to innovate products, optimize products, promote products and improve products.

Market research can help companies build brands, enhance brands, maintain brands, and continue brands. This is the brand value and function of market research. Market research can provide brand information and analysis for enterprises to support and promote brand construction and development. Market research can help enterprises to establish brand positioning and image, enhance brand awareness and reputation, maintain brand reputation and loyalty, and continue brand inheritance and innovation, so as to establish brand, enhance brand, maintain brand and continue brand.

The above four aspects are not completely independent, but interrelated. The value and function of market research are diversified. Enterprises need to flexibly apply and transform the results and suggestions of market research according to their own market conditions and needs, so as to achieve the goals and effects of the market. Of course, this is not to say that the value and role of market research is unlimited, but that the value and role of market research is conditional, enterprises need to have a reasonable market research expectations and evaluation, in order to avoid market research is too high or too low.

To sum up, the application and transformation of market research is the ultimate purpose and significance of market research, enterprises need to make market decisions and actions according to the results and recommendations of market research, in order to achieve the goals and effects of the market. The value and role of market research are diverse, and companies need to flexibly apply and transform the value and role of market research according to their own market conditions and needs to achieve the best market research results.