Purpose of 1. Market Research

The purpose of market research is to understand the current situation, trends, needs, competition, opportunities and risks of the market, so as to provide valuable suggestions and solutions for customers. Market research should take the customer's problems and needs as the starting point, clarify the objectives and scope of the investigation, and avoid the following misunderstandings and problems:

Myth 1: Market research is for proof, not discovery. Some consulting firms already have their own assumptions and conclusions when conducting market research, just to find data and evidence to support their views, while ignoring the complexity and diversity of the market, resulting in a loss of objectivity and impartiality in the results of the survey. Market research should be a process of exploration and discovery. It should not be influenced by preconceptions. Instead, it should maintain an open and proven attitude, analyze the current situation and problems of the market from multiple angles and dimensions, discover potential opportunities and risks in the market, and provide customers with insights and suggestions with depth and breadth.

Problem 1: The objectives and scope of market research are unclear. Some consulting firms do not have a clear objective and scope of the survey when conducting market research, resulting in unclear direction and focus of the survey, wasting time and resources, and reducing the efficiency and effectiveness of the survey. Market research should be based on the customer's problems and needs, clear the objectives and scope of the survey, determine the key issues and assumptions of the survey, develop plans and programs for the survey, clarify the methods and tools of the survey, and assign the tasks and responsibilities of the survey to ensure the orderly and effective conduct of the survey.

Methods of 2. Market Research

Market research methods are divided into two main categories: quantitative and qualitative surveys. Quantitative survey is a quantitative analysis and evaluation of the size, share, growth, structure and distribution of the market through numerical and statistical methods. Qualitative investigation is an in-depth understanding and explanation of market characteristics, motivations, needs, satisfaction, preferences, etc. through observation, interviews, discussions, cases, etc. Market research should be based on the objectives and scope of the survey, select the appropriate methods and tools to avoid the following misunderstandings and problems:

Myth 2: Quantitative surveys are better than qualitative surveys. Some consulting firms believe that quantitative surveys are more scientific and reliable than qualitative surveys because quantitative surveys can provide objective and quantitative data and evidence, while qualitative surveys can only provide subjective and descriptive information and opinions. This concept ignores the complementarity and interdependence of quantitative and qualitative surveys, resulting in a lack of depth and detail in the results of the survey, as well as a comprehensive and accurate reflection of the true market situation. Market research should be based on the purpose and content of the survey, the use of quantitative and qualitative survey methods and tools, from different angles and levels, a comprehensive and in-depth analysis and evaluation of the market, in order to improve the quality and effectiveness of the survey.

Problem two: the methods and tools of market research are not appropriate. Some consulting firms conduct market research without selecting appropriate methods and tools based on the objectives and scope of the survey, resulting in results that do not meet the requirements and expectations of the survey and are unable to effectively answer the key questions and assumptions of the survey. Market research should be based on the purpose and content of the survey, choose appropriate methods and tools, for example, if the goal of the survey is to understand the size and share of the market, you can use market research reports, industry databases, government statistics and other quantitative methods and tools; if the goal of the survey is to understand the needs and preferences of the market, you can use interviews, questionnaires, focus groups and other qualitative methods and tools. At the same time, market research should pay attention to the effectiveness and reliability of methods and tools, and avoid the use of outdated, inaccurate, incomplete, and inconsistent data and information to ensure the authenticity and effectiveness of the results of the survey.

Sample of 3. market research

The sample of market research refers to the part taken from the market as a whole to represent and reflect the characteristics and conditions of the market. The selection and extraction of samples for market research directly affects the representativeness and accuracy of the results of the survey. Market research should be based on the objectives and scope of the survey, select the appropriate sample, to avoid the following misunderstandings and problems:

Myth 3: The bigger the sample, the better. Some consulting firms believe that the larger the sample, the more likely it is to reflect the true situation of the market, because the larger the sample, the smaller the error of the sample, the higher the credibility of the sample. This concept ignores the quality and cost of the sample, resulting in the results of the survey may not be more accurate and more effective, and may increase the time and resource consumption of the survey. Market research should be based on the purpose and content of the survey, select the appropriate sample size, not only to ensure the representativeness and accuracy of the sample, but also to consider the availability and operability of the sample, in order to achieve the best results of the survey.

Question 3: The selection and extraction of samples are unreasonable. Some consulting firms do not select and draw reasonable samples according to the objectives and scope of the survey when conducting market research, resulting in sample bias and error, and also affecting the credibility and validity of the results of the survey. Market survey should select and draw reasonable samples according to the purpose and content of the survey. For example, if the goal of the survey is to understand the overall situation of the market, random sampling method can be used to randomly select a certain number of samples from the overall market to ensure the randomness and representativeness of the samples; If the goal of the survey is to understand the market segmentation, stratified sampling method can be used, according to the different characteristics or levels of the market, the overall market is divided into different subgroups, and a certain sample is drawn from each subgroup to ensure the stratification and representativeness of the sample. At the same time, market surveys should pay attention to the quality and consistency of samples, and avoid using samples that do not meet the survey requirements, are not credible, incomplete, and inconsistent to ensure the authenticity and validity of the samples.

Data analysis of 4. market research

The data analysis of market research refers to the process of sorting, processing, analyzing and interpreting the data and information collected by market research in order to discover the laws and problems of the market and put forward market insights and suggestions. The data analysis of market research is the core and focus of the survey, and it is also the difficulty and key of the survey. Market research should be based on the objectives and scope of the survey, reasonable data analysis, to avoid the following misunderstandings and problems:

Myth 4: Data analysis is for presentation, not solution. Some consulting firms focus too much on the presentation and beautification of data, using complex and fancy charts and techniques in order to attract the attention and appreciation of customers, while ignoring the nature and purpose of data analysis, which is to solve problems and provide value for customers. This approach may lead to the loss of practical significance and application value of the results of data analysis, and can not effectively answer the customer's questions and needs. Market research should be based on the purpose and content of the survey, targeted and in-depth data analysis, from the data to find market rules and problems, put forward market insights and suggestions to help customers make correct and effective decisions.

Question 4: The methods and techniques of data analysis are unreasonable. Some consulting firms do not select and use reasonable methods and techniques based on the characteristics and requirements of the data when conducting data analysis, resulting in inaccurate and ineffective results of data analysis and unable to effectively support the conclusions and recommendations of the survey. Market research should select and use reasonable methods and techniques according to the characteristics and requirements of the data. For example, if the data is quantitative, descriptive statistics, correlation analysis, regression analysis and other methods can be used to quantitatively analyze and evaluate the data; If the data is qualitative, content analysis, thematic analysis, framework analysis and other methods can be used to deeply understand and explain the data. At the same time, market research should pay attention to the logic and validity of data analysis, and avoid using wrong, inappropriate and unreasonable methods and techniques to ensure the credibility and validity of the results of data analysis.

5. market research report

A market survey report is a document that presents the process, results, conclusions and recommendations of a market survey to the client in written form and is the final result and deliverable of the market survey. The quality and effectiveness of the market research report directly affects the customer's evaluation and trust in the consulting firm, and also determines the reputation and performance of the consulting firm. Market research should be based on customer problems and needs, the preparation of high-quality reports, to avoid the following misunderstandings and problems:

Myth 5: The longer the report, the better. Some consulting firms believe that the longer the report, the more comprehensive and in-depth the market research, because the longer the report, the more data and information it contains, and the more analysis and recommendations it presents. This concept ignores the readability and usability of the report, resulting in lengthy and messy reports, and it is difficult to attract and retain the attention and interest of customers. Market research should prepare concise and clear reports based on customer problems and needs, containing only valuable and meaningful data and information for customers, highlighting the focus and highlights of the report to improve the readability and usability of the report.

Question 5: The structure and format of the report are unreasonable. Some consulting firms did not design and use a reasonable structure and format based on the purpose and content of the report when preparing the report, resulting in a lack of logic and organization in the content of the report, and also affecting the aesthetics and professionalism of the report. Market research should be based on the purpose and content of the report, design and use a reasonable structure and format, for example, the structure of the report should include summary, table of contents, body, conclusions, recommendations, appendices and other parts, so that customers can quickly and comprehensively understand the contents and conclusions of the report; the format of the report should be unified and standardized, using appropriate font, font size, color, spacing, alignment, etc, to improve the aesthetics and professionalism of the report.

Conclusion

Market research is an important means for consulting firms to provide high-quality services to their clients, but there are also some misunderstandings and common problems that may affect the effectiveness and accuracy of the survey. This paper analyzes the common misunderstandings and problems in market research from the aspects of market research purpose, method, sample, data analysis and report, and puts forward corresponding solutions to help consulting companies improve the quality and effect of market research. Market research should take the customer's problems and needs as the starting point, clarify the objectives and scope of the survey, select appropriate methods and tools, extract reasonable samples, conduct effective data analysis, and prepare high-quality reports to provide valuable suggestions and solutions to customers.