How to conduct market research?

I. Results achievable from market research

1. terms and processes associated with market research

2. designing standard actions for effective marketing behaviors

3. understanding and controlling the time and cost of research

II. Today's market research tools

1. Selecting the best research approach for a marketing challenge (decision tree diagram)

2. Steps to prepare a results-oriented research outline

3. Understanding sample structure and basic statistics

4. Designing questionnaires

5. Qualitative research

6. Measurement of attitudes and characteristics (brand image)

7. Synthesis of analytical methods and outputs (including trade-offs brand/price, price-sensitive measurement)

III. Using research to explore the psychology of customers

1. Studying customer demand for services

2. New product development, measuring the marketing mix

3. Measuring prices, packaging, new ideas, new concepts, services and products (experimental design)

4. Evaluating the effect of advertising before and after the launch of a product

How is market research done?

Root causes of market research mistakes

Some market research results are often unsatisfactory, and there is a big gap with the expectations of enterprises (customers) to conduct market research.

Where is the root cause? Generally can be attributed to the following aspects:

1. Uncertainty of purpose, nothing to lose

Some companies are in order to "research" and research, did not take into account the role and significance of the research, often aimless, not for the product marketing and research. In this way, the design of the questionnaire, there is a bias.

2. Information distortion, no value

Some researchers, may not be taken seriously, or did not implement the active participation of respondents, or instead of respondents to answer the questionnaire, or induced to answer the question.

3. Incomplete information that cannot be judged

The results of such research are incomplete. The results of the research are meaningless to the development of marketing strategies and corporate marketing policies.

4. No plan, no monitoring

Enterprises before the research, there is no systematic implementation of the plan and monitoring system, often making the researchers to go one step at a time, there is no good overall planning. Research work is fragmented and disorganized.

Some of the importance of market research

With the intensification of competition, market research has been more and more enterprises to pay attention. Enterprises to obtain a larger market in the consumer consciousness continues to mature, rational environment, market research is essential.

1. The pointer of the marketing work

A good market research program will play a "pointer" of the direction of the marketing work of enterprises.

Some companies have even set up specialized market research departments to find and create more strategies and strategic support for the promotion of corporate brands, products and services.

2. Data support for the development of marketing programs

In the marketing of new products before the market, do not first carry out in-depth marketing research on the market, simply cost pricing or pricing to profit, it is impossible to formulate a reasonable and competitive pricing policy, it can be said that "there is no research, there is no right to speak! "

With the help of the marketing research, the company is able to develop a reasonable and competitive pricing policy.

Through market research, marketing programs can be prepared to provide detailed data support.

3. link consumer groups, understanding of consumer dynamics

The importance of marketing research is also embodied in the information to link marketers and consumers, this information is used to identify and define the marketing objectives and market opportunities for introduction, accurate and reasonable designation of the overall marketing promotion program, monitoring of marketing organization activities, to improve the understanding of the marketing activities to help companies to develop effective marketing managers. Marketing managers to develop effective marketing strategies.

4. Marketing work to carry out a threshold

Marketing research is a marketing work to carry out a threshold, is the enterprise marketing work to carry out before, must be taken seriously.

With the continuous development and improvement of the market, market research has become an insurmountable step in the development of enterprises.

Market research some directional

Enterprises with different products, facing different market competition, the theme of the research is also different, the enterprise can be based on their own reality, combined with the market consumption target, marketing research must be carried out.

1. Customer Satisfaction Research

This is the research of products that have been listed.

Customer satisfaction can be a good assessment of the products and services provided by the enterprise whether consumers feel satisfied, at different stages to understand the trend of changes in consumer attitudes, and further explore the valuable customer groups for careful maintenance.

2. Consumer demand research

To study the competitors' users and their own users, to find out the trend of consumer consumption, to explore the potential demand, in order to take a better service strategy, and to lay the foundation for the innovation of products and services.

3. Competitive dynamics

Research on competitors' products and services, to find out some of the competitors' marketing strategies, tactics, and marketing policies, product strengths and weaknesses.

4. Market environment research

Generally, the target market must be such as national policies, local policies, especially prices, urban management, industry and commerce, industry regulators, communications media, community management and other market environment to conduct adequate research.

5. Channel access research

Generally the main target market dealer network, retailer networks and other channel access to conduct adequate research. To determine the direction of their own product channels, channel policy.

6. Market research

Mainly on the target market market segmentation research to determine the priority of the target market. Segmentation of consumers according to their habits, regions and life patterns, is an effective strategy for companies to deepen their services and extend the product life cycle.

Only by studying the market and managing segmentation can companies provide specialized and personalized services.

Some steps of market research

1. Determine the purpose of the research, research sites and researchers

To the actual enterprise, the market research to set a clear purpose, research sites, researchers.

2. Determine the content of the research, the research object, the research method and the research time

The content of the research is mainly on the product, price, channel, promotion, rivals, environment, demand and so on.

The research object is mainly salesmen, promoters, dealers, after-sales service personnel and target consumers.

Research methods can be telephone interviews, on-site questionnaires and so on.

Research time should be determined according to the actual business and research scope size.

3. Reasonable design of the questionnaire

The questionnaire in the research process plays a very important role in the research process, for different research objects, you can prepare a variety of different questionnaires. For example, for salesmen, promoters, dealers, after-sales service personnel and consumers. And therefore ensure that our research is not generalized, but real and feasible.

4. Implementation of the research plan

The researchers will go into the target market and carry out the research work.

5. Research summary and analysis

In order to ensure that the information is original, true and effective, to avoid information distortion due to time delays, the research information should be organized in a timely manner, summarize, analyze, in order to ensure that the timeliness of the research information.

6. Preparation of marketing recommendations

Based on market research data, for the decision-making level to put forward the enterprise product marketing strategy tactics, communication strategy, channel strategy, promotion strategy, pricing strategy and so on.

In short, the market research must be combined with the characteristics of the enterprise product, the target market to carry out reasonable. At the same time market research must ensure that the objective and true way to carry out, of course, the enterprise is best to choose some professional research company to cooperate. In this way, may reduce time and financial resources for the enterprise.