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Change is the only thing that never changes.
Manufacturers are challenged by competitors, changing fashions or market trends...
Consumers are offered with increasing choices but are never tired of pursuing fashions...
Markets are expanding from home country to foreign countries...
Product life cycle becomes shorter but product lines become longer...
Technology advances more rapidly and costs more spending...
Horizontal distribution is replacing vertical distribution as the outcome of the game between distributors and manufacturers...
What is the use of market research?
● Presentation of facts
● Diagnosis of current conditions
● Prediction of future changes
What kinds of market researches are there?
● Exploratory research: gather information for further trouble shooting and problem solving;
● Descriptive research: give answers to when, where, who, what and why;
● Casual research: determine whether there is a cause and effect relationship between facts, events or results;
Why market research is useful to businesses?
● Help businesses to make plans or determine whether a plan is feasible;
● Facilitate businesses to choose among different plans;
● Enables businesses to assess implementation results;
Huaxia Credit is experienced in researches of following markets
● Industrial goods: power transmission and distribution, electronic, large medical equipment, chemicals, logistic, industrial control, telecommunications, etc.
● Consuming goods: medicines, building materials, OA facilities, daily chemicals, foods, etc.
Huaxia Credit is strong in giving insights into:
1. Strategies: to decide on strategies for market segmentation and product positioning
2. Product life cycle: to determine the current stages of life cycle for products and services to provide at each stage
3. Market entry: to find right timing for entry and correct entry approaches in order to avoid investment risk and gain competitive competence.
4. Market forecast and analysis:
● Forecast change in demand and supply, balance between demand and supply, changes in industrial mix and trend, policy impact and technological improvement;
● Analyze SWOT, PEST, and Five Force
5. Purchase:
● Distinguish between who places orders, who makes purchase decisions and who implements the purchase;
● Takes into consideration main factors like price, quality, function, after-sales service, brand, appearance, etc.;
● Takes into consideration other factors like industrial practice, organization size, financial status, corporate culture, etc.
● Determine purchase volume, frequency, way, payment terms and price sensitiveness;
6. Importance-satisfaction model
7. Marketing diagnosis:
● Compare with existing products in market
● Look at existing manufacturers and brands
● Analyse and forecast demands and supplies
● Analyse brand recognition and customer satisfaction
● Formulate differentiated competition strategies
● Improve existing market strategies and approaches
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