Industry Study
Industry study combines the elites of field study and market study. So industry study is a part of enterprise strategy research. Generally speaking, the core contents of the industry study include the following three aspects:
1st: it studies the surviving environment of the industry, the industry policy, the industry layout, the industry life cycle, the position of the industry in the whole macro industry structure and its developing and evolving trends, as well as its growing background.
2nd: it studies the market characteristics, the competitive situation, the difficulty of market entry/exit, and the market growth of various industries.
3rd: it studies the competitive strategy and market behavior model of various industries under different conditions and different grown-up periods so that it can provide enterprise some practical advices.
Therefore, the meaning of industry study is not to instruct how to do the marketing operation, but is to provide enterprise some guides and references to avoid them from going into wrong directions.
Consumer study
Consumer study refers to consumption market study. It is the basic and the main part of the commodity market studies that is applied most in the market investigation field. Consumer study includes consumer basic characteristics study, consumption behavior study and consumption motivation study. Consumer study is often conducted by commodity enterprises, especially the public commodity enterprises.
Consumer market study refers to studying the basic aspects such as the market environment (politics, law, society, culture, and technology), population characteristics, life style, economy level, applying all kinds of market investigation technology and methods to study the wants and needs of the consumer group through cognition, attitude, motivation, selection, decision, buying and usage.
Competitor study
Competitor study could help enterprises comprehensively understand the updated market situation, analyze competitors’ operation situation, understand the updated operation level of competitors in aspects of strategy, marketing, channel, Human resources, service, product and finance. It could provide comprehensive and precise intelligence support for enterprises during their market entry period and period exterior competition investigation.
Competitor study also helps clients identify their current competitors, discover the potential competitors, and understand the competitive capability to grasp the changing situation of competitor. Competitor study can design the efficient competitive strategy and tactics advices for clients.
Business circle study
Business circle study has four basic aspects which are business circle range confirmation, business circle survey, information analysis and study results. It is an indispensable and significant premise to carry out retailing activities.
Business circle study specifically refers to exerting the targeted market investigation method, analyzing and studying the population structure, competition environment, consumption characteristics, purchasing power of the business circle, providing reference and support for the relative strategic decisions based on the object data and facts.
The business circle study can help enterprises understand the following contents:
- to confirm the location of a new shop and business circle area
- to evaluate the market opportunity of the business circle and development potential
- to understand the purchasing behavior and purchasing power of the consumers
- to understand the characteristics of the customers and the target market
- to understand the characteristics of the competitors
- to provide the guiding reference of the marketing strategy
- to obtain the other relevant data
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