Features of organizing and conducting market research in the industrial market
In market ( B2B) markets, in most cases, market research is conducted to determine the main trends of the market and its volume, analyze the activities of competitors, the range of goods (services) and the dynamics of change their prices, evaluation of sales and promotion, as well as for forecasting demand. These surveys are typical and are carried out by the marketing department on a regular basis.
However, the marketing department of an enterprise B2B -market can also conduct atypical research, which can be provoked by the following factors:
1) non-standard order;
2) exhibitions and seminars;
3) investment proposals for buying or selling a business;
4) refusal of the client from cooperation;
5) an alternative proposal for using resources;
6) possible changes in legislation;
7) justification of business plans for gender credit;
8) Other factors.
When conducting market research in the industrial market, it is necessary to understand a number of features of their conduct .
1. Small sample size. You can conduct a full study, since the general sample often does not exceed 400 companies.
2. Closedness of information. It is necessary to have access to specialists who have information on this market.
3. Lowered representativeness. Due to the complexity of access to information sources, the representativeness of the information obtained is reduced in the process of research.
4. High cost of rewards for the information received and limited time to receive it.
5. In the process of research, it is not the subjective opinions of end-users that are sought out, but the objective needs of buyers, based on specific properties and characteristics of products.
6. The places for conducting marketing research are not static: they can take place at exhibitions, seminars, conferences, etc.
7. The prevalence of qualitative information over quantitative, since quantitative data on the industrial market are accumulated by only Rosstat.
8. In parallel to the given research it is necessary to further analyze secondary sources with cross-over and complementary information.
9. High degree of professional knowledge of specialists conducting research and deep knowledge of the market, which will ensure the reliability and depth of research.
10. Carrying out market research in the industrial market can be perceived as competitive intelligence.
If a company working for a B2B -market decides not to conduct a marketing survey on its own, but to cooperate with a consulting agency, then it's important to remember the importance of drafting a technical assignment. The technical task for carrying out the marketing research must contain: the object of research, the main hypotheses, goals and objectives, the research methodology (type of research, methods and place of information gathering), the format of reporting documents, applications and the timing of the study. An example of such a technical task is presented in Appendices 1 and 2 at the end of this textbook.
It's important to remember!
The main methods of information collection used in the B2B market, are imaginary client methods, imaginary vendor and expert estimates.
This is due to the fact that competitors, buyers and suppliers will give more information if specialists are presented by clients or suppliers, as they are interested in attracting them. In the case of direct treatment, some information may be hidden.
The main areas of research B2B -market are the following1 * URL: b2bresearch.ru/en/2014-01-09-03-25-35/10.html. }}:
1) market analysis , including:
• Trends and main trends in the development of the market;
• market capacity and direction of development dynamics;
• market segmentation by major players; segmentation of the market (by nomenclature, prices, etc.);
• supply-demand ratio (availability of seasonal demand fluctuations);
• the geography of the market;
• the volume of the market (production + imports - exports) in money and in kind, the analysis of growth rates within the industry (in percent by year), the identification of growth points;
• history and trends of the industry: analysis of technology development, speed of innovation, forecasting long-term trends in the development of the market;
2) Competitive Analysis , which includes:
• Description of the main players in the market (producers and importers): their history in this segment, the description of methods of competition, the direction of positioning;
• comparative analysis and segmentation of the competitive environment, benchmarking, assessment of the company's competitive capabilities and development of methods to improve the competitiveness of the enterprise;
3) consumer research primarily includes:
• analysis of databases В2В consumers - identifying the contact information of consumers, their activities, identifying the decision-makers;
• study of the model of purchasing behavior and preference, the structure of purchasing decision is made, the factors of vendor selection, the level of satisfaction with current suppliers, the methods and frequency of purchases, the volume of consumption, consumer preferences: by assortment, prices, service, etc., are analyzed. etc., as well as information sources used by decision-makers for decision making;
• The study of satisfaction and loyalty includes evaluating the activities of suppliers, unmet needs and the desire to change the supplier, etc., as well as the formation of a consumer portrait and consumer segmentation;
4) Mysterious buyer (Mystery shopping) is used to assess the accuracy of staff compliance with established work procedures and technology sales/service process for primary (repeated) calls. It is used in the evaluation phase of primary dial-up/communication to assess the speed of dial-up, the form of submitting the requested information (by phone), the quality of clarification of the terms of cooperation, commercial offers, the speed of the application, its completeness and comprehensibility.
Also used to assess the work of a manager who communicates in terms of competence, independence in decision making, courtesy, speed of response/resolution, assessment of the appearance of staff, evaluation of the sales/service office, evaluation of the company's competitive position in relation to key players market;5) analysis of distribution systems includes description of existing distribution systems on the market, typical sales channel structures, number of intermediaries in the sales network, standard conditions work and mutual demands of participants. And also the analysis of the functions of intermediary companies, the determination of margins of each link of the sales chain, the determination of factors affecting the sales chain. Description of the main distributors is conducted in the direction of determining the volume of purchases, their seasonality, product range, requirements for suppliers, developing recommendations for optimizing the distribution system of the company in the context of the market and competitive environment; 6) market research of prices involves evaluating leading manufacturers and suppliers for such parameters as: price segmentation, price dynamics, availability and structure markup, discount system, etc .; 7) researching the company's image involves evaluating the reputation of the company and its brands by suppliers, distributors, consumers, etc.
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