Table of contents
General market research steps:
Examples of research objects include:
Market research is carried out by dimension:
How to do market research? Who are the research objects?
Market research is a systematic method for gathering and analyzing market-related information.
General market research steps:
- Determine the research objectives: clarify the questions and objectives you want to know, such as market size, competitors, user needs, etc.
- Develop a research plan: Determine the timetable, resources, and methodology for the research. Research methods to consider include market report analysis, user research, competitor analysis, focus group discussions, online surveys, etc.
- Collect secondary information: Consult secondary sources such as market research reports, industry analysis, statistics, etc. to obtain information on market size, growth trends, competitor profiles, etc.
- Conduct user research: collect target user needs, preferences, behavior patterns, and other information through face-to-face interviews, focus group discussions, and online surveys. Research objects can be potential users, existing users or specific user groups.
- Competitor analysis: research competitors' product features, pricing strategies, market share and other information. Analysis can be done by purchasing competing products, observing competitors' marketing activities, reading competitors' official documents, etc.
- Data analysis and collation: collate and analyze the collected data to find commonalities and trends. Using statistical tools and data visualization techniques can help you better understand data.
- Draw conclusions and recommendations: Based on the survey results, summarize the main findings and insights, and make corresponding recommendations. These suggestions can involve product improvement, pricing strategy adjustments, target market expansion, etc.
Examples of research objects include:
- Target users: Understand the needs, preferences, behavior patterns, etc. of target users in order to design products that meet their needs.
- Competitors: Research competitors' product features, pricing strategies, market share and other information to understand their strengths and weaknesses.
- Industry analysis: understand the trend, scale, growth rate and other information of the entire industry in order to evaluate the market potential and development trend.
- Channel partners: Understand the situation of channel partners, including channel coverage, channel profits and sales models, etc.
- Target market: Understand the characteristics, segmentation, market share and other information of the target market in order to better position products and formulate marketing strategies.
Market research is carried out by dimension:
- Market research can be carried out in multiple dimensions to gain a comprehensive understanding of the market situation. The following are some common dimensions, and you can choose the appropriate dimension to conduct research according to the specific situation:
- Market Size and Growth: Understand the market's size, growth rate, trends, etc. to assess the market's potential and development prospects.
- Target users and consumers: Study the characteristics, behaviors, preferences, needs, etc. of target users to gain an in-depth understanding of their needs and purchase decision-making process.
- Competitor Analysis: Analyze competitors' product features, market shares, pricing strategies, marketing strategies, etc. to understand their strengths and weaknesses.
- Market Positioning and Segmentation: Study the characteristics, competition and opportunities of different segments in the market to determine the market positioning and target segment of the product.
- Channels and distribution: Understand the channel structure, partners, channel profits and sales models in the market, so as to choose the appropriate channel and distribution strategy.
- Technology and Trends: Follow the latest technological developments, trends and innovations in the industry to grasp market changes and opportunities.
- Regulatory and policy environment: Understand relevant regulations, policies and industry standards to ensure product compliance and market viability.
- Market feedback and user satisfaction: Collect user feedback, complaints, opinions and suggestions on existing products or services to improve products and increase user satisfaction.