Purpose of 1. Market Research

Market research is the process of collecting, analyzing and interpreting information about markets, consumers, competitors and the environment to support market decisions. Market research can help companies understand the current situation and trends of the market, identify market opportunities and problems, assess market potential and risks, formulate and optimize market strategies and plans, and monitor and evaluate market effects and feedback.

As an important part of the automotive industry chain, the automotive aftermarket has a huge market size and room for growth, but it is also facing fierce competition and complex changes. Therefore, market research on the automotive aftermarket is of great significance and value to the relevant companies and investors in the automotive aftermarket. Specifically, market research can help interested parties in the automotive aftermarket:

-Understand the overall size, structure, distribution, characteristics and development trend of the automotive aftermarket, as well as the situation and potential of each market segment;

-Understand consumer needs, preferences, behaviors and satisfaction in the automotive aftermarket, as well as consumer stratification and segmentation;

-Understand the competitive landscape of the automotive aftermarket, the strategies, strengths, weaknesses and dynamics of benchmarking companies, as well as the market share and profitability of benchmarking companies;

-Understand the impact and changes of policies and regulations, industry standards, industry associations, industry media and other external environments in the automotive aftermarket;

-Understand the market opportunities and challenges of innovative technologies, new products, new models and new channels in the automotive aftermarket, as well as the future development direction and forecast of the market;

-Based on the results of market research, formulate or adjust the market positioning, objectives, strategies, plans and budgets for the automotive aftermarket, and evaluate the feasibility, effectiveness and risks of the market.

2. methods of market research

Market research methods are divided into two main categories: quantitative research and qualitative research. Quantitative research refers to research methods that reflect the size, structure, changes and relationships of the market by collecting and analyzing large amounts of numerical data. The main tools of quantitative research include questionnaire survey, data mining, statistical analysis and so on. Qualitative research refers to the collection and analysis of non-numerical descriptive data to reveal the motivations, attitudes, feelings and meanings of the market. The main tools of qualitative research include research, observation, case analysis, focus groups, etc.

When conducting market research on the automotive aftermarket, Shangpu Consulting flexibly uses quantitative and qualitative research methods, or combines the two methods, according to different research purposes and content, in order to improve the effectiveness and credibility of the research. Specifically, in the market research of the automotive aftermarket, Shangpu Consulting mainly uses the following methods:

-Desktop research: through the collection and analysis of a variety of existing secondary data, such as official statistics, industry reports, professional media, network information, etc., to obtain basic information and background knowledge of the automotive aftermarket, to provide reference and basis for subsequent in-depth research;

-Questionnaire survey: Through the design and distribution of standardized questionnaires, large-scale surveys are conducted to target consumers or related persons in the automotive aftermarket to obtain quantitative data on consumer demand, preferences, behavior and satisfaction in the automotive aftermarket, as well as basic characteristics and hierarchical information of consumers;

-Research: through semi-structured or unstructured face-to-face or telephone communication with relevant people in the automotive aftermarket, to obtain qualitative data such as strategy, advantages, disadvantages and dynamics of benchmarking enterprises in the automotive aftermarket, as well as quantitative data such as market share and profitability of benchmarking enterprises;

-Observation: Visit relevant places in the automotive aftermarket in person or through a third party, such as auto repair shops, auto beauty shops, auto supply shops, etc., to directly observe qualitative data such as consumer behavior, consumption scenarios, consumption processes and consumption results in the automotive aftermarket, as well as quantitative data such as consumer consumption levels, consumption frequencies and consumption patterns;

-Case analysis: by collecting and analyzing typical enterprises or successful cases in the automotive aftermarket, such as Shenzhou car rental, Tuhu car maintenance, Ningde era, etc., to understand the market opportunities and challenges of innovative technologies, new products, new models, new channels, etc., as well as the future development direction and forecast of the market.