What Is a Product Market Study?

Market research is a specific activity that connects consumers with the public sector and the market. This information is used to identify and define marketing opportunities and problems, generate, improve and evaluate marketing activities, monitor marketing performance, and improve Understanding of the marketing process. Market research is actually a process of seeking "harmony" between the market and the enterprise. Market research is like a pre-marital health check. If you ignore it, you may have low energy. At that time, you will spend a lot of money on sales. It seems to increase the nutrition of low energy children. How much can it do? Because the concept of marketing means that consumers' needs should be met, insiders of the company must listen to the voices of consumers, and "listen" to the voices of consumers through market research. Of course, marketing research information also includes information about entities other than consumers. ^[1]

Market research

(Collective name of market research and market research)

Market research is as important to marketing management as investigation is to military command. Without systematic and objective market research and forecasting, it is very dangerous and backward behavior to make all kinds of marketing decisions based on experience or insufficient information.

Specifically, market research is important for marketing management.

Contains different classification directions. In the method attribute classification, including

11 steps of the market research process :

Zhongchuang Zhixin (Beijing) Investment Consulting Co., Ltd. was established in 2002. (hereinafter referred to as Chuangchuang Consultant) is the only cross-organizational professional information organization in China. The information organization created has long-term tracking and data collection of various industries, focusing on Chinese market research, business analysis, investment consulting, market strategy, etc., can provide objective and true market research data and business competition intelligence in multiple fields, and formulate strategies for enterprises Understanding the market provides stable data support. After years of accumulation, it has become a professional third-party market research institution and a comprehensive consulting service provider in China.

The function of market research is what results can be obtained through market research, which are mainly reflected in the following three aspects:

The first is to collect and state the facts (get feedback on market information and provide decision makers with a line about current market information and marketing activities);

The second is to explain the information or activities (understand the reasons for the current market conditions and some influencing factors);

The third is the forecast function (by inferring possible market development changes from past market information).

The role of market research mainly depends on how users use the research results, and it mainly plays a role in the following aspects.

(1) Provide market information through understanding and analysis, which can avoid mistakes in the formulation of marketing strategies, or help marketing decision makers understand the current marketing strategies and the gains and losses of marketing activities for appropriate suggestions. Only by actually understanding the market conditions can we make targeted marketing strategies and business development strategies.

When the enterprise management department and related personnel want to make decisions on certain issues, such as the formulation of product strategy, price strategy, distribution strategy, advertising and promotion strategy.

The situations to be generally understood and the issues to be considered are multifaceted, mainly including: in which market the company's products sell well and have potential for development; in which specific market is the expected amount of saleable; and how can it be expanded How to control the sales price of the product; how to set the product price to ensure that both sales and profits can go up; how to organize product sales, how much sales costs will be, etc.

These questions can be answered only through specific market surveys, and only the specific answers obtained through market surveys can be used as the basis for corporate decisions. Otherwise, blind and divorced decisions will be formed, and blindness often means failure and loss.

(2) Provide correct market information, you can understand the possible changes in the market and the potential purchase motivation and demand of consumers, help marketers identify the most profitable market opportunities, and provide new opportunities for enterprises to develop

The development and change of market competition are becoming increasingly fierce and constantly changing, and there are many reasons for market changes. Market factors such as products, prices, distribution, advertising, and sales, and market environmental factors such as political, economic, cultural, and geographical conditions . These two types of factors are often interrelated and affect each other, and they are constantly changing.

In order to adapt to this kind of change, the company can only learn about changes in various market factors and market environment factors in a timely manner through extensive market surveys, so as to take targeted measures to respond to market factors such as prices, product structure, and advertising. Adjustment to cope with market competition.

For enterprises, whether they can understand the market changes in a timely manner and take appropriate measures in a timely and appropriate manner is the key to their success.

(3) It is helpful to understand the current development status and technical experience of related industries and provide information for improving the business activities of enterprises

In today's world, science and technology are developing rapidly, and new inventions, new creations, new technologies and new products are emerging endlessly and are changing with each passing day. This technological progress will naturally be reflected in the form of products in the commodity market. Through market surveys, we can obtain information that helps us to understand market economic trends and scientific and technological information in a timely manner, and provide companies with the latest market intelligence and technical production intelligence in order to better learn and draw on the advanced experience and latest technology in the same industry. To improve the production technology of enterprises, improve the technical level of personnel, and improve the management level of enterprises, thereby improving the quality of products, accelerating the upgrading of products, enhancing the competitiveness of products and enterprises, and ensuring the survival and development of enterprises.

(4) The overall publicity strategy needs to provide information and support for the company's market position and product promotion

Marketing promotion needs to understand the channels and mechanisms of various information dissemination, in order to find a suitable carrier and method of promotion and detailed marketing plan. This also needs market research to solve, especially in the high-speed changing environment, the past experience only It can reduce the chance of making mistakes, and it also needs real-time information updates to ensure that the promotion is in place. Usually in the market promotion, market information support from powerful institutions is also needed, such as providing consumer superiority information in various aspects such as consumer recognition, brand awareness, satisfaction, market share, etc. to meet further needs.

(5) In addition to the information obtained through market surveys, in addition to being able to understand the market situation, it is also possible to predict market changes and trends, so that companies can plan and arrange for contingencies in advance and make full use of market changes. Seek the interests of the enterprise. The report predicts that in the next 10 years, the development of China's newspaper industry will present eight major trends: the intensive level of newspaper publishing will increase significantly; the fourth growth cycle of the newspaper industry is coming; the Central Party Newspaper and the provincial Party Newspaper will establish high-end mainstream newspapers. Leading position; the development model of metropolis newspapers will undergo a major transformation; professional newspapers in the industry will generally establish a view of resource centers; "digital newspapers" will change the traditional newspaper industry; professional newspapers and professional newspaper manager groups will accelerate the formation; overseas newspapers Industry market will become a new space for development ^[2]

1. According to the display form of the survey results

1) List of various answers to open-ended questions

2) Interactive web report

3) Online reports of various forms

4) Various data and charts available for careful analysis, users can further dig information from the charts

5) Conclusions, analysis and comments of survey service providers and analysts

6) Technical analysis of survey methods

7) Statistical analysis of data

8) Sample related information

9) Information about whether the respondent made feedback

10) Various types of data linked to the corporate portal, which facilitates other project research and decision support

11) Various links and indexes to facilitate the query and use of the data of the research report

2. According to the communication methods of the market research report

1) Written report

2) Oral report method

The only way to keep abreast of market changes, or to remain sensitive to market changes, is to do a good job of regular market research. An important part of market analysis is market research. Only through market research can detailed information be directly obtained from the front line of the market. Many large companies usually have dedicated departments for this task. Of course, it is often difficult for companies in the startup stage to follow their example. But there are other ways and methods to do this. If used properly, you will also get good results. These ways and methods are: regularly subscribe to various journals and magazines related to the industry, participate in guilds or other professional associations, strive for opportunities to participate in more public gatherings such as certain trade fairs, and pay close attention to your organization The effect of various marketing business activities, to understand the changes, and to identify the causes of sales growth or sales decline.

Market research is a problem that puzzles many SME marketing managers: in terms of manpower, there is no full-time market researcher, and there is no independent market department; financially, I cannot afford professional market research companies ... and market research You ca nt help but do nt know who you are trying to please, what he is thinking and doing; if you do nt, you do nt know how your competition will be done and what will be done ...

I. Responsibilities of market research for SMEs

Small and medium-sized enterprises generally do not have an independent and complete market department. Regarding the responsibility of market research work, if there is no independent market department and it is not intended to establish a market department, it is best to submit this work to the general manager's office, and Full-time information staff is responsible. This has three benefits:

1.Many small and medium-sized enterprises' sales work is directly or concurrently managed by the general manager. As the staff unit, the general manager's office needs to grasp the market dynamics for the general manager's decision-making reference.

2. The general manager's office is closest to the general manager, which is convenient for the general manager to guide market research and consult reference market information.

3. The general manager's office serves as the company's "central nerve", and the basic principles of planning and executing market research work and management are not contradictory. Of course, when planning research activities, we must be market- and sales-oriented and fully listen to the opinions and suggestions of sales staff.

The specific implementation of market research

Market research is a complicated task. Even for a large company with an independent market department and a full-time market research staff, market research work is not done by the market research staff. The work of the market research staff is responsible for planning, Organize, guide, and control research activities. For small and medium-sized enterprises, the specific implementation work can rely on sales staff.

1. The company's sales staff can conduct research or temporarily perform research tasks on the basis of work.

Salespeople are the fighters on the front line. They know "enemy" the most and are the ones who need to know the "enemy". With the help of salespeople, they can save the company's manpower, material and financial resources and do more with less. It can urge sales staff to deepen their understanding of the market.

2. Use the company's distributors or agents to complete the research.

The basic wish of the distributor or agent to do a good job in the local market is completely consistent with the company. Under this premise, the company can plan and guide the distributor or agent to do market research in the region, including the region. Survey of basic conditions, consumer status, competitive brand status, as well as local media status surveys, local government, and private activity surveys; at the same time, implement "dynamic planning" to seize opportunities and cleverly leverage on local advertising and promotions. activity. This not only solves a major problem of the investigation, but also helps to consolidate the cooperative relationship between the two parties.

3. Collect research second-hand information.

The general manager's office should not only do a good job of planning, organizing, guiding, and controlling market research, but also do a good job of collecting and researching second-hand information. Although many small and medium-sized enterprises have various professional newspapers and magazines, and have their own websites, they have not been able to effectively use these precious resources to pan for gold. Professional newspapers and magazines are not good for more. You can order several comprehensive and authoritative ones. Through professional newspapers and magazines, companies can learn about industry trends as quickly as possible.

Your own website should be used effectively. You can use the network to easily query all kinds of useful information. Online communication saves time and effort. Currently, many professional market research companies have begun to use the website to conduct research activities. Why can't SMEs use their own website for marketing What about research?

Local newspapers and marketing magazines are indispensable. Some small and medium-sized enterprises still attach great importance to professional newspapers and magazines, but they are not so enthusiastic about local newspapers and marketing magazines. This approach is somewhat inappropriate. Many small and medium-sized enterprises' products are only for the local and surrounding markets. Local newspapers are our eyes and ears, which helps us understand the people and events that happen to us. Marketing magazines have opened a window for the company to learn from others' market research and marketing experience. Only modest learning can make progress.

3. Digestion and absorption of market information

As a company's full-time information staff, it must have strong planning, analysis, and textual expression skills to timely digest and organize market information to the supervisor. As the company's operating and sales staff, they should actively research the market and provide timely feedback in order to improve and better cooperate.

For SMEs, the two most important words are "concepts". The marketing manager of an enterprise attaches importance to or does not attach importance to market research, and grasping or not grasping is completely different.

1. Telephone interview method

Sales representatives within the enterprise or professional third-party research company personnel conduct systematic interviews with customers over the phone. The advantage of telephone interviews is that due to the user-friendly, direct interviews with customers, there is generally a high level of participation. Disadvantages of telephone interviews reduce efficiency due to rising rejection rates; if a third-party professional company is commissioned, higher costs may be involved; more importantly, consumers are increasingly hating receiving calls that affect their lives and work, making telephone interviews increasingly The harder it is.

The traditional telephone interview is to select a surveyor according to the sample list, dial the phone, and ask a series of questions. The interviewer (investigator) records the respondent's response on the answer sheet according to the questionnaire. Investigators are concentrated in a certain place or a dedicated telephone interview room, and interviews begin within a fixed period of time. Supervisors are on site to manage it. Investigators are specially trained, usually part-time college students, or some other personnel.

2. Computer Aided Telephone Interview (CATI)

In developed countries, especially in the United States, computer-assisted telephone interviews concentrated in a central location are more common than traditional telephone interviews. It is adopted by a few survey companies in China. Computer-assisted telephone interviews use a questionnaire designed according to computer design methods, and interviews are conducted over the telephone. Computer questionnaires can be designed and generated using mainframes, microcomputers, or personal computers. Investigators sit opposite CRT terminals (terminals with screens and keyboards connected to the main control computer) and wear small headset phones. The CRT replaces questionnaires, answer sheets, and pencils. Dial the desired number through the computer. After the call is connected, the investigator reads out the Q & A displayed on the CRT screen and directly records the respondent's answer (represented by the number) into the computer's memory using the keyboard. The computer will systematically guide the investigator. On the CRT screen, a quiz appears only once. The computer checks the appropriateness and consistency of the answers. The data collection process is natural and smooth, and the access time has been greatly reduced. The quality of the data has been enhanced. The process of data encoding and entry is no longer needed. Because the answers are entered directly into the computer, periodic and up-to-date reports on data collection and results are available almost immediately.

3. Home visit

Home visit means that the investigator visits the respondent's home or work unit to make direct contact with the respondent. Then either use interview questionnaires to ask questions one by one and record the other party s responses; or hand the self-filled questionnaire to the respondent, explain the method, and wait for the other party to complete or return to the survey later the way. This is currently the most commonly used survey method in China. The households or units surveyed are all selected according to certain random sampling criteria, and there are certain rules for the interviewees determined after entering the household.

4.Intercept access

Intercepting interviews refers to intercepting some people present at a place (usually a more prosperous business district) for interviews. This method is often used in commercial consumer intent surveys. The benefits of intercepting interviews are high efficiency, but no matter how you control the quality of your samples and surveys, the data you collect does not prove to be well representative of the population. This is the biggest problem in blocking access.

5. Group (focus) discussions

The Focus Group is a carefully selected host (615) invited by a trained moderator to talk to a group of respondents in an unstructured, natural way. Customer satisfaction, value related content. The advantage of this survey is a comprehensive and in-depth understanding of client preferences and concerns based on the discussion guides and timetables provided; it is easy to build good relationships with clients. The main purpose of the group discussion method is to gain an in-depth understanding of some related issues by listening to a group of respondents selected from the target market that the investigator wants to study. The value of this approach is that you can often make unexpected discoveries from free group discussions.

The disadvantages of this survey are the misinterpreted results due to the prejudice of the survey host; there is a limit on the number of participants who can participate in each panel discussion in order to encourage the survey;

6.In-depth interview method

An in-depth interview method is an unstructured, direct, personal interview. During the interview, an investigator with advanced skills interviews a respondent in depth to reveal the underlying motivation, beliefs and attitudes to a problem. And feelings. There are three commonly used in-depth interview techniques: step-by-step advancement, hidden problem discovery, and symbolic analysis. In-depth interviews are also exploratory research used to gain an understanding of the problem and deeper understanding.

7, projection techniques

The so-called projection technique is an unstructured and indirect form of inquiry that encourages respondents to project their underlying motivations, beliefs, attitudes, or feelings about the issues they care about. In projection techniques, respondents are not required to describe their behavior, but rather to explain the behavior of others. In explaining the behavior of others, the respondents indirectly projected their own motivations, beliefs, attitudes, or feelings into the relevant situations. Therefore, by analyzing respondents' responses to unstructured, ambiguous and ambiguous "scripts", their attitudes are revealed. The more vague the plot, the more the respondents projected their feelings, needs, motivations, attitudes, and values, just like using projection techniques to analyze the patient's psychology in a psychological consultation clinic. Like classification in psychology, projection techniques can be divided into association techniques, completion techniques, structural techniques, and performance techniques.

8.Online access law

Enterprises use online surveys, free online text reviews, and online surveys to collect customer information. The advantages of online access include higher feedback rates than traditional mailing surveys due to convenience; cost advantages for customers and companies; and software for easy data analysis. The disadvantage of online access is that if the customer-initiated online access may produce distorted results; inaccurate responses may be generated (automatic response systems usually automatically look for keywords and send automatic responses) to ignore nuances of customer concerns; Most customers use online channels to provide feedback, otherwise the information collected is incomplete.

9.Mail / Fax Survey Form

The company conducts surveys with sample customers by direct mail or fax. The advantages of this survey include accurate and high-quality questionnaires collected because the interviewees have enough time to answer questions; they can provide easily quantifiable results; and they are less expensive due to mass mailing. The disadvantage of this kind of survey is that the completeness of the survey depends on the respondent's willingness; the statistical results are not good because the recovery rate is generally low or slow.