Market research is any organized effort to gather information about target markets or customers. It is a very important component of business strategy. Market research is one of the key factors used in maintaining competitiveness over competitors. Market research provides important information to identify and analyze the market need, market size and competition. Market-research techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
Conducting China market research before diving into doing business in China can provide valuable insight into understanding the various Chinese markets, the opportunities it can provide as well as issues that arise within them, making it easier to identify customers in China. The failure rate of foreign businesses in China is high, but it is fair to say that the opportunities available far outweigh the risk of failure, considering the astonishing increase in middle-class consumers and the wide expansion of urbanization leading to a demand of Western goods and brands.
Procedures to conduct a market Research
1. A brief list of the shrinking market research data;
2. Determine which market to investigate;
3. Find where, when you are in the market can reach customers;
4. Select the sample size;
5. Prepare answer to the question;
6. Devise a way to quantify your answer;
7. Identify, may affect your results;
8. Set investigation;
9. Prepare survey table;
10. Conduct investigation.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.
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