Market Research in China

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Market research in Hong Kong / China 

Market research is the study of problems, techniques and other aspects of marketing and related decision-making and implementation of decisions. Daxue consulting applies a hybrid of marketing and research, providing both basic and applied research where immediate short-term concerns are considered with fundamental problems. The research takes various market participators such as consumers, buyers and sellers in to consideration.

As the Chinese customer holds the key position in all circumstances in China and needs to be motivated to purchase the maximum of the enterprise`s products and services, it is necessary for Daxue Consulting market researchers to interpret market requirements and relate them to available sources and responsibilities of the company.

The Objectives of DX Market Research

For enterprises that want to enter Chinese market or increase their market share in China, Daxue Consulting conducts high quality market research based on efficient data collection system and provide effective suggestions for implementation. Our service covers a wide range of areas, including electronics, health care, luxury, auto, nursery, FMCG such as food, cosmetics, etc. Daxue Consulting better matches customer needs through improvement of customer retention, more effective targeting of communications and enhancement of the enterprise`s influence. We help the enterprise to understand why customers buy a particular product, to know the marketing opportunities and challenges. With the discovery of competencies of the enterprise, we design an effective mix of right action, considering branding, product development, and distribution channels in China.

Methodologies

Daxue Consulting`s market research is standardized with clear steps.

  1. Identifying the marketing problem or setting the objectives of market research.
  2. Developing a marketing plan or studying the old research findings.
  3. Designing the marketing research strategy in accordance with the requirements of the problem.
  4. Collecting data.
  5. Analysing data collected
  6. Preparing the research report.

For example, for a toothpaste company, Daxue may design its market research like the one below.

  1. Descriptive research
  2. Collecting primary and secondary data
  3. Choose questionnaire as a survey method and design questions.
  4. Buy sample toothpastes for the survey with 500 people (simple random sampling in a large supermarket)
  5. Interviews with managers in toothpaste industry.
  6. Mode of collecting data: For primary data (the survey mentioned), the respondents will be chosen randomly and requested to grant interviews. The questions will be asked in a predetermined sequence. Secondary data will be collected from various books, journals and reports (both published and unpublished).
  7. Data processing: using tables to indicate main points and give inferences.

Daxue Consulting offer statistical analysis and model analysis tools to build its analytical marketing research system. For statistical analysis, we apply regression analysis, correlation analysis, cluster analysis, factor analysis and conjoint analysis. While at the same time, we build new model for specific business based on a selection of optional production, distribution, pricing, market selection and media mix models

Importance of Marketing Research in China for Overseas Companies

Market research is a very useful tool in enhancing the decision-making ability of the marketer in China`s dynamic environment today. With the change from a seller`s market to buyer`s market, and fast economic and social changes In China, it is necessarily important for overseas enterprises to acquire information on consumers` needs, preferences and evaluation from the consumer, especially China`s new consumer group.

Market research in China provides information for overseas enterprise the access to contact Chinese consumers. With clearly stated issues being investigated, a systematic and formal procedure in collection and analysis, market research communicate the study findings in a manner to help reach marketing decisions.

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Amy Wang