Conducting effective market research is an indispensable part of any business, and market research for bakery companies can help you fully understand market demand, competitors and consumer behavior. Through certain market research methods and steps, you can obtain more accurate market insights and provide strong support and guidance for your products and marketing strategies. Today, I would like to share some basic content of market research and my cognitive understanding of this work.
Market research is a project work, so before doing it, you need to clarify what the specific purpose of this work is, and then you can carry out the work in a targeted manner. Dividing from the research object is nothing more than conducting research on yourself or others; From a research perspective, it is nothing more than internal or external research; Dividing from the research area is nothing more than conducting research on the existing market or blank market; In fact, there are many ways to divide the purpose to list them one by one, and the difference in purpose is only in the design of the questionnaire, and the operation content and implementation steps are similar.
First of all, the content must be clear before the market research, the target market of the research work, the geographical area, consumer groups and competitors are the basic research content, you can draw up the basic research form and research plan according to these contents, and then you can implement the research work. With the development of the Internet, it is now relatively simple to investigate geographical regions, and the data you need can be found through search engines, mainly in terms of population, administrative regions, business district divisions and special geographical attributes. The research on consumer groups can be carried out in two ways, one is to investigate the consumer groups of their own stores, the main purpose of which is to confirm and understand the matching degree between their own store positioning and the actual consumer groups; The other is to investigate the situation of potential consumer groups other than their own stores, the purpose of which is to develop new stores and develop new products to pave the way. Competitors are also relatively simple, find a good target brand as the main competitor to collect his information, including product category, quality, pricing, marketing strategy, etc., to understand their strengths and weaknesses, as well as market share and positioning. That's basically all about market research.
In terms of implementation steps and methods, the preparation of plans and questionnaires is the first step, which will not be detailed. The second step is data collection, collecting market data and statistical information related to research, and you can use industry reports, market research data, statistical data, etc., to obtain market size, growth rate, market share and other information. Collect consumer data related to research, and understand consumers' preferences, needs, purchasing habits and attitudes through surveys, face-to-face interviews, group visits, etc. Collecting data on competitors is basically obtained by going to the competitor's store for a field trip. After the data collection is completed, you need to carry out the third step of research and data analysis, according to the collected data can analyze the current market trends and development directions, understand the changes in consumer preferences, the trend of new products, the development of marketing channels, etc., there is a tool is SWOT analysis, SWOT analysis, assess your strengths, weaknesses, opportunities and threats, which will help you develop strategies and plans to adapt to the market environment, specific methods can be searched, I will not repeat. The fourth step is also an important step, with the data and analysis results, you can form a market research report, at this time you need to do two things, the first is to test whether the report can be convincing to the original research objectives; The second is to see if the report can be translated into an executable action plan, which is the ultimate goal.
Based on the results of market research, you can determine the positioning and target audience of your products, differentiate yourself from competitors or carry out targeted campaigns, gain insight into market trends and take recommended actions. As the saying goes, knowing oneself and knowing one's opponent is invincible, and market research is a good way to "know oneself and know one's opponent", do a good job of market research, and conduct regular review, which has an important role and significance for baking enterprises to formulate strategic plans.