First, the purpose of market research in the industrial motor industry.
Industrial motors refer to motors used to drive various mechanical equipment in industrial production, including AC motors, DC motors, permanent magnet motors, brushless motors, etc. Industrial motors have a wide range of applications in a variety of industries, such as oil and gas, power generation, mining and metals, water and wastewater management, chemical and petrochemical, and discrete manufacturing[1][1]. The performance, efficiency, reliability and energy saving of industrial motors directly affect the quality, cost and efficiency of industrial production.
With Industry 40, the industrial motor industry is in the stage of rapid development and transformation and upgrading, facing new opportunities and challenges. On the one hand, the demand for industrial automation, intelligence, digitalization and networking provides a broad space and market for the innovation and application of industrial motors. On the other hand, factors such as technological progress, energy efficiency standards, environmental protection requirements, market competition and customer demand for industrial motors have also put forward higher requirements for the production and sales of industrial motors.
Therefore, market research on the industrial motor industry is an important basis for enterprises to make strategic decisions. The main purposes of market research are as follows:
Understand the development status, trend, scale, structure, competitive landscape, market demand, customer behavior, policies and regulations of the industrial motor industry, and provide data support and reference for the company's product development, market positioning, marketing strategy, risk assessment, etc.;
Identify opportunities and threats in the industrial motor industry, analyze the strengths and weaknesses of the enterprise, evaluate the competitiveness and market share of the enterprise, and provide decision-making suggestions and solutions for the strategic planning, goal setting, resource allocation, and business development of the enterprise;
Monitor the dynamic changes of the industrial motor industry, capture the new needs, new technologies, new models, new trends, etc. of the market, and provide inspiration and direction for the innovation and improvement of enterprises;
Collect successful cases and lessons learned from the industrial motor industry, learn from and learn from the industry's best practices and advanced experience, and provide reference and guidance for the continuous improvement and optimization of enterprises.
Second, the method of market research in the industrial motor industry.
There are two main types of market research methods: quantitative research and qualitative research. Quantitative research refers to the collection and analysis of quantifiable data to describe and explain the phenomena and laws of the market, such as market size, market share, market growth rate, customer satisfaction, brand awareness, etc. Qualitative research refers to the collection and analysis of non-quantitative data to understand and interpret the connotation and significance of the market, such as market demand, market opportunities, market threats, customer needs, customer psychology, competitive strategies, etc.
The methods of market research can choose different tools and techniques according to different purposes and objects, such as questionnaires, interviews, observations, experiments, literature analysis, case analysis, SWOT analysis, PEST analysis, Porter's five forces analysis, value chain analysis, etc. The method of market research should be scientific, effective, objective, systematic and flexible to ensure the quality and effect of market research.
The market research of the industrial motor industry requires the comprehensive use of a variety of market research methods to obtain comprehensive, accurate and in-depth market information because it involves multiple industries, multiple motor types, multiple market levels, and multiple market players. Generally speaking, the following methods can be used for market research in the industrial motor industry:
Literature analysis: through the collection and analysis of relevant literature of the industrial motor industry, such as industry reports, industry planning, industry standards, industry policies, industry associations, industry experts, industry leaders, etc., to obtain the basic situation, development history, development status, development trends, development problems and other information of the industrial motor industry, to provide first-hand theoretical basis and background information for market research;
Questionnaire survey: through the design and distribution of questionnaires for the industrial motor industry, collect and analyze the relevant data of the industrial motor industry, such as market size, market structure, market demand, market satisfaction, market expectations, etc., to provide second-hand quantitative data and statistical results for market research;
Interviews: Through face-to-face or first-class interviews with relevant personnel in the industrial motor industry, collect and analyze relevant information about the industrial motor industry, such as market opportunities, market threats, market strategies, market innovation, market experience, etc., to provide third-hand qualitative information and in-depth insights for market research;
Case Analysis: Through the selection and study of typical cases in the industrial motor industry, such as successful cases, failure cases, typical cases, hot cases, etc., analyze the success factors, failure reasons, typical characteristics, hot issues, etc. of the industrial motor industry, and provide fourth-hand lessons and enlightenment for market research.
Third, the process of market research in the industrial motor industry.
The process of market research refers to the specific steps and sequence of market research, which generally includes the following stages:
The implementation stage of market research: in this stage, it is mainly in accordance with the market research plan, the implementation of market research methods, the collection and sorting of market research data and information, such as literature analysis, questionnaire surveys, interviews, case analysis, etc., as well as the market research data and information cleaning, classification, induction, integration, etc.;
The analysis stage of market research: In this stage, it is mainly to analyze and interpret the data and information of market research, use market research tools and techniques, such as SWOT analysis, PEST analysis, Porter's five forces analysis, value chain analysis, etc., as well as the use of statistical analysis, trend analysis, causal analysis, comparative analysis and other methods, from different angles and levels, reveal and summarize the results and findings of market research;
Report stage of market research: In this stage, the report of market research is mainly written and presented according to the purpose and object of market research, including the background, purpose, method, process, results, findings, and suggestions of market researchConclusionand the charts, attachments, references, etc. of the market research, so as to convey and communicate the value and significance of the market research to the client or stakeholders of the market research.
Fourth, the skills of market research in the industrial motor industry.
The skills of market research refer to some effective methods and strategies applied in the process of market research to improve the efficiency and quality of market research and avoid errors and deviations in market research. The market research of the industrial motor industry, because it involves the characteristics of technology, professionalism and complexity, it is necessary to pay attention to the following skills:
Clarify the purpose and scope of market research: The purpose and scope of market research are the guidance and basis of market research, and the purpose and scope of market research should be clarified and refined according to the actual situation and needs of the enterprise, so as to avoid the deviation and waste of market research;
Choose the right methods and tools of market research: The methods and tools of market research are the means and carriers of market research, and the appropriate methods and tools of market research should be selected according to the purpose and scope of market research to avoid the failure and distortion of market research;
Ensure the quality and validity of market research data and information: Market research data and information are the foundation and core of market research, and should be through reasonable sampling, design, collection, sorting, analysis and other steps to ensure the quality and effectiveness of market research data and information, and avoid misleading and misjudgment of market research;
Use multiple perspectives and angles of market research: The perspective and angle of market research are the depth and breadth of market research, and should be used through the use of multiple perspectives and angles of market research, such as customer perspective, competitor perspective, industry perspective, social perspective, etc., as well as from macro, meso, micro and other different levels, to comprehensively and deeply understand and analyze the phenomenon and law of market research, and avoid the one-sided and superficial market research;
Cases and experience of market research combined with actual market: The cases and experience of market research are the reference and reference of market research, and should be enriched and improved by combining the cases and experience of actual market research, such as successful cases, failure cases, typical cases, hot cases, etc., as well as learning from and learning the best practices and advanced experience of the industry, so as to avoid the emptiness and abstraction of market research.
5. Case study of market research in the industrial motor industry.
In order to better demonstrate the value and effect of market research in the industrial motor industry, this paper selects the case of market research services provided by a consulting company for an industrial motor manufacturer, and briefly analyzes and introduces it.
The company is a professional enterprise engaged in the research and development, production and sales of industrial motors, the main products include AC motors, DC motors, permanent magnet motors, brushless motors, etc., the main customers include oil and gas, power generation, mining and metals, water and wastewater management, chemical and petrochemical, discrete manufacturing and other industries. The company has a certain reputation and market share in the domestic market, but it is still in its infancy in the international market, and hopes to understand the opportunities and threats in the international market through market research, and formulate a suitable international market expansion strategy.
The consulting firm provided the following market research services to the company:
Literature analysis: The consulting company has collected and analyzed the relevant literature of the industrial motor industry, such as industry reports, industry plans, industry standards, industry policies, industry associations, industry experts, industry leaders, etc., and obtained the basic situation, development history, development status, development trend, development problems and other information of the industrial motor industry in the international market, providing first-hand theoretical basis and background information for market research;
Questionnaire survey: The consulting company designed and issued a questionnaire for the industrial motor industry in the international market, collected and analyzed the relevant data of the industrial motor industry in the international market, such as market size, market structure, market demand, market satisfaction, market expectations, etc., and provided second-hand quantitative data and statistical results for market research;
Interview: The consulting company conducted face-to-face or first-class interviews with relevant personnel in the industrial motor industry in the international market, collected and analyzed the relevant information of the industrial motor industry in the international market, such as market opportunities, market threats, market strategies, market innovation, market experience, etc., providing third-hand qualitative information and in-depth insights for market research;
Case Analysis: The consulting company selected and studied the typical cases of the industrial motor industry in the international market, such as successful cases, failure cases, typical cases, hot cases, etc., and analyzed the success factors, failure reasons, typical characteristics, and hot issues of the industrial motor industry in the international market, providing fourth-hand lessons and enlightenment for market research.
Through the above market research services, the consulting company provided the following market research reports for the company:
The development status and trend of the industrial motor industry in the international market: the consulting company analyzed the market size, market structure, market demand, market competition, market innovation and other aspects of the industrial motor industry in the international market, and summarized the development status and trend of the industrial motor industry in the international market, such as the continuous growth of market scale, the diversification of market structure, the diversification of market demand, the fierce market competition, and the activation of market innovation;
Opportunities and Threats in the Industrial Motor Industry in the International Market: The consulting firm analyzes the opportunities and threats in the industrial motor industry in the international market, such as Industry 4., using tools such as SWOT analysis and PEST analysis0 promotion, the demand for energy conservation and environmental protection, the development of emerging markets, the application of new technologies, etc., the threats include the improvement of technical standards, the constraints of energy efficiency regulations, the intensification of market competition, changes in customer needs, etc.;
Competitiveness and market share of the industrial motor industry in the international market: The consulting company analyzes the competitiveness and market share of the industrial motor industry in the international market using tools such as Porter's five forces analysis and value chain analysis, such as competitiveness includes product quality, product performance, product efficiency, product innovation, product service, etc., and the market share includes various industries, regional markets, and motor types;
Successful cases and lessons learned in the industrial motor industry in the international market: The consulting company selects and studies the successful cases and lessons learned in the industrial motor industry in the international market, such as successful cases include Siemens, ABB, General Electric and other internationally renowned industrial motor manufacturers, and the lessons include how to grasp the market demand, how to improve product quality, how to enhance product innovation, how to optimize product services, etc.
Based on the above market research report, the consulting company provided the following market research suggestions and solutions for the company:
Formulate appropriate international market expansion strategies: The consulting company recommends that the company formulate appropriate international market expansion strategies according to the development status and trends of the industrial motor industry in the international market, such as selecting potential target markets, identifying competitive target customers, formulating attractive target products, and adopting effective target marketing;
Enhance the competitiveness and market share of the industrial motor industry in the international market: The consulting company suggested that the company should enhance the competitiveness and market share of the industrial motor industry in the international market according to the opportunities and threats of the industrial motor industry in the international market, such as improving product quality, product performance, product efficiency, product innovation, and optimizing product services.
Learn from and learn from the successful cases and lessons of the industrial motor industry in the international market: The consulting company recommends that the company learn from and learn from the best practices and advanced experience of the industrial motor industry in the international market according to the successful cases and lessons learned in the industrial motor industry in the international market, such as grasping market demand, improving product quality, enhancing product innovation, optimizing product services, etc.
The market research service of the consulting company provides the company with comprehensive, accurate and in-depth market information and analysis of the industrial motor industry in the international market, provides data support and decision-making suggestions for the company's international market expansion, and brings significant results and value to the company's international market expansion.