Misunderstandings and breakthroughs in market research New ideas for business management

Mondo Finance Updated on 2024-02-01

1. Misunderstandings of market research

The misunderstanding of market research refers to some wrong understandings and practices in the process of market research, which may affect the quality and effect of market research, thereby affecting the decision-making and action of enterprises. There are many misunderstandings in market research, mainly including the following:

Too much reliance on secondary data. Secondary data refers to the data obtained from existing data sources, and it is one of the important methods of market research. The advantages of secondary data are low cost, short time, low difficulty, and small deviation, and the disadvantages are low freshness, low uniqueness, low relevance, and low controllability. If market research relies too much on secondary data, it may lead to the following problems: first, the timeliness and accuracy of the data are insufficient, and it cannot reflect the latest changes and real conditions of the market; Second, the uniqueness and relevance of the data are insufficient to meet the specific needs and goals of the enterprise; Third, the controllability and availability of data are insufficient, and the security and effectiveness of data cannot be guaranteed. Therefore, market research should appropriately combine primary and secondary data to improve the quality and effectiveness of the data.

Ignoring qualitative research. Qualitative research refers to the research that explores and understands the phenomenon and significance of the market through non-numerical means, and it is one of the important types of market research. The advantages of qualitative research are high depth, high flexibility, high innovation, and high adaptability, and the disadvantages are low breadth, low standardization, low comparability, and low verifiability. If market research ignores qualitative research, it may lead to the following problems: first, the depth and flexibility of data are insufficient, and it is impossible to discover the subtle and complex phenomena and meanings of the market; Second, the innovation and adaptability of data are insufficient, unable to break through the existing limitations and obstacles of the market, and unable to adapt to the changes and development of the market. Therefore, market research should appropriately combine qualitative and quantitative research to improve the quality and effectiveness of the data.

Lack of innovation and adaptability. Innovation and adaptability refer to the ability of market research methods and results to break through the existing limitations and obstacles of the market, and to adapt to the changes and development of the market, which is one of the important characteristics of market research. If market research lacks innovation and adaptability, it may lead to the following problems: first, the value and significance of data are insufficient, unable to provide new perspectives and insights into the market, and unable to help enterprises solve problems and seize opportunities; Second, the validity and influence of data are insufficient, which cannot support the decision-making and actions of enterprises, and cannot improve the competitive advantage and market position of enterprises. Therefore, market research should constantly update and improve the methods and results of market research to improve the quality and effectiveness of data.

Second, the breakthrough of market research

The breakthrough of market research refers to the method of correcting and improving the misunderstandings of market research in the process of market research to improve the quality and effect of market research, and they are new ideas and new guidance for market research. There are many breakthroughs in market research, mainly including the following:

Leverage network data. Network data refers to market-related data obtained through the Internet, and it is one of the most commonly used secondary data**. The advantages of network data are large quantity, wide range, fast speed, and high convenience, and the disadvantages are low quality, low reliability, low effectiveness, and low security. If market research can effectively use network data, it may bring the following benefits: first, the timeliness and accuracy of data are improved, which can reflect the latest changes and real conditions of the market; Second, the uniqueness and relevance of the data are improved, which can meet the specific needs and goals of the enterprise; Third, the controllability and availability of data can be improved, which can ensure the security and effectiveness of data. Therefore, market research should reasonably select and use online data, such as search engines, social networks**, e-commerce, blogs, forums, reviews, evaluations, etc., to improve the quality and effectiveness of data.

Strengthen qualitative research. Qualitative research refers to the research that explores and understands the phenomenon and significance of the market through non-numerical means, and it is one of the important types of market research. The advantages of qualitative research are high depth, high flexibility, high innovation, and high adaptability, and the disadvantages are low breadth, low standardization, low comparability, and low verifiability. If market research can strengthen qualitative research, it may bring the following benefits: first, the depth and flexibility of data can be improved, and the subtle and complex phenomena and meanings of the market can be discovered; Second, the innovation and adaptability of data can be improved, which can break through the existing limitations and obstacles of the market, and can adapt to the changes and development of the market. Therefore, market research should be diversified and in-depth with qualitative research, such as text analysis, image analysis, sound analysis, literature review, case studies, focus groups, etc., to improve the quality and effectiveness of the data.

Increase innovation and adaptability. Innovation and adaptability refer to the ability of market research methods and results to break through the existing limitations and obstacles of the market, and to adapt to the changes and development of the market, which is one of the important characteristics of market research. If market research can improve innovation and adaptability, it may bring the following benefits: first, the value and significance of data will be enhanced, and it can provide new perspectives and insights into the market, which can help enterprises solve problems and seize opportunities; Second, the effectiveness and influence of data can be improved, which can support the decision-making and actions of enterprises, and can improve the competitive advantage and market position of enterprises. Therefore, market research should constantly update and improve the methods and results of market research, such as using new data sources, new research methods, new analysis tools, new presentation methods, etc., to improve the quality and effectiveness of data.

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