Market research is defined as includes social and opinion research, it is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. While market research agencies assist businesses to conduct the market research by using statically and analytical methods and techniques. Here we used the example of Market Research in China to give some information about this topic.
Beneficial of China Market Research
China Market research consists of testing the market in china to determine the acceptance of a particular product or service, especially amongst different demographics. It is used to establish which portion of the population will or does purchase a product, based on age, gender, location, income level and many other variables. Market research allows companies to learn more about past, current and potential customers, including their specific likes and dislikes.
Based on market research data, businesses can develop a "target audience." Market research is used to determine how often the target audience will buy a particular item, how much they are willing to pay for it, and their overall satisfaction with it. By analyzing market research information, manufacturers and service providers learn where to focus their resources most effectively.
When new products or product lines to be released, market research in china can help foreign companies to learn how well new items will be received. It can also help businesses learn how the public responds to a comparable product already on the market. In this way, business can stay in the loop, keeping in touch with the wants and needs of potential consumers. They can halt production of a product that the public shows little or no interest in, or change it, improve it, or lower the price as necessary based on market research information.
Methods to do Market Research
Market research in china has a variety of purposes and a variety of data collection methods might be used for each purpose. Some useful data collection methods might be, for example, conducting focus groups, interviewing customers and investors, listening to what clients say and observing what they do. Later on, you might even develop a preliminary version of your product that you pilot, or test market, to verify if the product would sell or not. The particular data collection method that you use during your market research depends very much on the particular information that you are seeking to understand. In China, there are also lots of agents which specialized in market research and offer professional market research service.
Tannet's Service
Tannet (M) Sdn Bhd is well experienced in conducting many different types of marketing research, including all types of Business-to-Business and Business-to-Consumer research studies, advertising effectiveness, attitude & testing, marketing effectiveness, market segmentation, positioning and more.
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.
Previous：China Market Research Procedures
Next：Business Operation Management