Beijing market research is the discipline of acquiring Beijing market information to answer marketing questions. Often, the questions to be answered involve the perceptions, thoughts and feelings of customers, potential customers, and/or competitors' customers.
What differentiates Beijing market research is its systematic approach to gathering market information. For example, wise restaurateurs often take the pulse of their customers directly, by greeting and chatting and inquiring directly about the customer's experience. Indeed this is a form of "market research."
Beijing Market research is designed to provide definitive answers to such questions. Most frequently, it does so by the use of statistical tools and techniques. As this guide progresses, these tools and techniques will be described in greater detail and depth.
Beijing Company Market Research-Purpose of Beijing Market Research
First, Beijing market research provides input to and illumination of the issues a business or organization faces. It is not, however, THE answer. Rather, it is only part of the answer. Let's say a local bank is considering opening a new branch in Shanghai. Management wants to know if there will be enough customer demand to justify the expense. Management also has a list of other considerations. What hours are optimal to be open? Why types of customers are likely to use the branch? What services might these customers demand?
Beijing Market research can quickly, easily and cost-effectively answer these questions from a customer/potential customer perspective. And let's say that the market research results come back positive. Are the research results the deciding point on whether to open the new branch or not? Congratulations! Ten points if you said NO! Management must consider many other factors as part of the decision: what investment must be made to open and maintain the branch? How is the local economy doing and what is likely to happen to it in the near term? You get the point.
Often, Beijing market research warns management about a potentially costly mistake. Consequently in some circles, it is viewed as joy-killer. A retailer went forward with a second location--found a perfect building (so they thought), with easy access and plenty of traffic. The company renovated and set up an inviting space, ready for lots of new business. Much to their chagrin, nobody came. Management was puzzled. What was wrong? Finally, they commissioned market research to learn what the issues were. The answers came back clear and profoundly disappointing. Turns out that the location they had selected had formerly housed a business that was widely perceived as having ripped off the local population, who simply refused to associate with anyone in that location, fearing a duplication of the rip-off experience.
Obviously, if the market research had been done prior to the investment in Shanghai, management would have been spared considerable angst, not to mention the wasted investment.
So, in conclusion, the purpose of market research in Beijing is to uncover information that may provide insights to help in business decision-making. This theme will arise again and again as this guide progresses.
Beijing Company Market Research-Common Mistakes in Beijing Market Research
Relying on the published work of others doesn't give you the full picture. It can be a great place to start, of course, but the information you get can be outdated. You can miss out on other factors relevant to your business.
Use only web resources. When you use common search engines to gather information, you get only data that are available to everyone and it may not be fully accurate. To perform deeper searches while stay within your budget, use the resources at your local library, college campus or small-business center.
Survey only the people you know. Small-business owners sometimes interview only family members and close colleagues when conducting research, but friends and family are often not the best survey subjects. To get the most useful and accurate information, you need to talk to real customers about their needs, wants and expectations.
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