Market research · Business trend forecasting · Business decision-making

Author: Xiao Xianbiao
Publisher:
Publishing Date: 2002-03-01
Features: This book was developed against the backdrop of China's basic establishment of a market economy system and its formal accession to the World Trade Organization. It fully incorporates the opinions and suggestions of teachers, students, and various sectors of society, and fully absorbs the new theoretical achievements and methods in the development of this discipline.
Chapter Market Research
Generally, any successful enterprise management requires obtaining sufficient and accurate information as the first step. Market research is an important way for enterprises to collect information and data, and it is also the foundation and prerequisite for all rational decision-making.
Section The Meaning and Role of Market Research
1. The Meaning of Market Research
The term "market" can have multiple meanings. It is a historical category that has evolved from a point to a line, and then to a three-dimensional concept, along with the development of commodity production and commodity exchange. Generally speaking, the original market refers to the place of commodity exchange, or the place where producers, commodity operators, and consumers engage in commodity exchange, which is a point concept. As production and operation scales expand and market scope extends, the market becomes the field of commodity exchange or the very circulation field itself, forming a line concept. If we abstract away specific commodities and participants, it directly reflects the relationship between people and others. The market we refer to here encompasses all these meanings and is examined from the perspective of enterprise producers or sellers, i.e., the consumer groups of the enterprise or the total demand for goods produced and operated by the enterprise. In this market concept, it is not difficult to see that there are buyers and sellers, i.e., the three major subjects of producers, operators, and consumers, as well as their activities; there are also three mediating factors—information, commodities, and money—as well as their flows.
Investigation is a survey conducted to understand the situation. Clearly, "investigation" is a verb, representing an observational and informative activity. The purpose of investigation is to understand the situation, grasp the essence, and facilitate problem-solving.
Regarding the concept of market research, there are various interpretations both domestically and internationally. The American Marketing Association defines it as: "Market research is the collection, recording, and analysis of all facts related to various issues concerning the transfer of goods or services from producers to consumers." The American Management Association defines it as: "Market research is the study and evaluation of all aspects of the current and potential market, with the aim of understanding market information, seeking conclusions, and providing a basis for decision-making."
The definition by the American Marketing Association emphasizes the function of market research in collecting facts (information) and points out which aspects of intelligence should be collected. The definition by the American Management Association, on the other hand, believes that the purpose of market research is to understand market information to provide a basis for decision-making.
Although there are differences in their interpretations of market research, both basically point out that market research has the essential function of collecting information and understanding the situation.
Broadly speaking, market research refers to the planned and systematic activity of collecting and analyzing intelligence or data related to all aspects of market business operations. Narrowly speaking, market research refers to the survey of customers' (including group consumers and individual consumers) needs, purchasing motivations, and purchasing behavior conducted by enterprises to sell products and expand market share. In short, it is a survey of consumer groups.