Market research is the basis for successful strategy planning of the company. It implies the study of a niche in order to create an information-analytical base for the formation of strategic and marketing decisions. Without a thorough study of the market and competitors, it is pointless to start a company for sales, investments, access to both media and offline/online platforms. In addition, market research helps in the field of borrowing experience and innovative technologies in order to modernize existing systems.
China Business Partner offers a detailed and thorough analysis of the market, which will give an accurate understanding of its structure, competitors, price segments, economic trends, recent innovations and will allow your company to become closer to a potential client.
Main objectives of market research
Determination of market capacity and existing price segments for an objective assessment of the company’s chances in the market;
Analysis of consumer behavior to assess their degree of loyalty to products and companies, as well as to create an accurate portrait;
Analysis of competitors, their strengths and weaknesses to adjust sales strategies.
Study distribution channels to determine the most effective of them, the formation of the best algorithm for promoting the product to the final consumer;
Analysis of the legislative framework for the competent conduct of business in the market without violating established administrative norms and rules;
Additionally, the marketing research may include the collection of commercial and legal information, as well as the determination of market share in the context of a particular company;
Market research also may be relevant for enterprises or companies that do not want to enter the Chinese market. For this category of companies, it can be targeted and help to find out salary levels on the international level, study existing technologies and standards, open new horizons and visions on the possibilities of borrowing and modernizing various systems and industries (for example, production capabilities, IT and AI developments, payment systems, sales channels etc.)
What are the benefits of market research?
Popular wisdom says “forewarned – means armed.” Knowing the reliable and accurate information about the market, you will be able to:
eliminate errors in early developed strategies;
reduce risks and financial losses;
set the best competitive prices;
reach the target audience;
You will be familiar with all legal restrictions and prohibitions.
Working with China Business Partner, you will receive in-depth market research with the following content:
methods of carrying out research;
product market analysis in China;
analysis of price niches, import-export statistics, in the area of interest, investment attractiveness;
determination of the main problems in the selected product segment.
Report will be accompanied by major competitors profiles, price lists and all necessary documentation. Additional information is by request (technical drawings, shareholders information, etc).