What is the importance of market research?

What is the importance of
market research?
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Industry analysis is a component of a business plan that provides statistics on the market potential,
products and services of your business. This section contains the current state of the specific
information industry and the target market and possible reference materials it includes, using such as
spreadsheets, pie charts, and other charts to represent data and objective markets.
1.Fully understand the product market and the basic status of the brand, current marketing situation,
and provide scientific basis and technical support for the company to make macro decisions.
2.Fully understand the marketing status of product, market advantages and market barriers of relative
competitors.
3.Fully understand the popularity, permeability, reputation and loyalty of the product in consumers;
Understand the consumption idea of the product in different level consumers, consumer behavior,
consumer psychological characteristics, as well as the various influence factors of their purchase
decisions, to adjust the brand marketing strategy and to provide a scientific basis for brand extension.
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4.Fully understand the opinions, comments and suggestions from dealers in specific region, especially
product dealer, to the product, brands, marketing methods, and marketing strategies; Meanwhile, the
sales network status, sales policy and sales management status of this product are investigated.
5.To understand the status of different retail level in target market, mainly including retailers’ view of the
products and brand, consumer preferences for product and brand, the market change in past few years,
and the market outlook forecast. At the same time, the understand of the local market price structure,
credit policy of each brand and the promotion method, in order to lay the foundation for making the
adjustment to the retail market sales policy and strengthen the marketing management.
6.Understand relating information about press releases. The main contents include relevant program,
release time, corresponding fees, coverage and effect tests. On the basis of realizing the above objectives,
summarizing the suggestions on marketing strategy of the product, and providing the decision-making
support for the company's innovative marketing strategy, enhancing the competitiveness, and expanding
the market share.
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7.Market research report has the third-party objectivity; market research is to adopt relevant scientific
methods to conduct market research, with no bias, and is not affected by the emotional factors.
QYResearch focuses on the research of the industry market. For detail information please contact Mr.
Tan at +16262952442, +8613718936094, +819038009273, qyresearch@qyresearch.com,
bd@qyresearch.com
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