Market research in China – Why is it crucial?
Posted: Thu Jan 23, 2025 9:28 am
Regardless of your industry, if you want to do business in China, conducting market research is essential. If you don’t have a clear understanding of who your target audience is and what they want, you’ll quickly find new zealand phone number list outpaced by local competition. In this article, we’ll look at some key considerations when conducting market research in China.
Contents [ hide ]
1 Conducting market research in China: why and how
1.1 Market research helps you develop a market entry strategy with:
2 Market research in China: 4 steps
2.1 Before you start your Chinese market research, define your benchmarks
2.2 Here are some of the things you can determine about the Chinese market by conducting market research:
2.2.1 Market information:
2.2.2 Competitive intelligence:
2.2.3 Chinese customers:
2.2.4 Pricing strategy:
2.2.5 Market segmentation:
2.2.6 Consumer segmentation:
2.2.7 Campaign effectiveness:
2.3 Types of market research you can conduct when entering China
2.3.1 Types of market studies in summary:
2.4 Think long term, establish market monitoring
2.4.1 It's obvious, but is it a consulting company from China?
2.4.2 Does the market research company you are talking to have experience in your sector?
2.4.3 How much can market research teams take on and what is their capacity?
2.4.4 What market research tool does the company use? Does it meet its needs?
2.4.5 Will my China market research be data only or data + interpretation?
3 Do you need to conduct market research in China for your company?
Conducting market research in China: why and how
Market research is often interchanged with marketing research; however, knowledgeable practitioners can draw a distinction as marketing research deals specifically with marketing processes, while market research deals specifically with markets.
Market research helps you develop a market entry strategy with:
Useful information
Data collection
Market knowledge (sector trends and key indicators, for example)
Understanding the competitive landscape
Understanding Chinese Customers
The power of market research lies in the ability to gather and analyse information about consumers and their needs or wants regarding the products offered to them, such as services. This allows businesses like yours to access important data that can be used when making strategic decisions about how best to serve your target audience, while also helping to shape future product development plans accordingly.
Moreover, when entering the Chinese market, conducting market research is a key factor to gain an edge over competitors. The Chinese market is different from other Western countries. And the only way to come up with a proper strategy is to research key information to identify and analyze market need, market size, and competition.
Market research in China: 4 steps
Before you begin your Chinese market research, define your benchmarks
Establishing your reference point will help you know which direction you are going and what kind of information you need, i.e. it gives you context.
Benchmarking your progress is important. This will help you identify areas for improvement and services that are negatively impacting the company's performance.
Identify your industry's top competitors. Use their products and services as lenses through which to view customer satisfaction with you and other companies comparing similar purchasing experiences, both as non-customers and as potential new customers.
Contents [ hide ]
1 Conducting market research in China: why and how
1.1 Market research helps you develop a market entry strategy with:
2 Market research in China: 4 steps
2.1 Before you start your Chinese market research, define your benchmarks
2.2 Here are some of the things you can determine about the Chinese market by conducting market research:
2.2.1 Market information:
2.2.2 Competitive intelligence:
2.2.3 Chinese customers:
2.2.4 Pricing strategy:
2.2.5 Market segmentation:
2.2.6 Consumer segmentation:
2.2.7 Campaign effectiveness:
2.3 Types of market research you can conduct when entering China
2.3.1 Types of market studies in summary:
2.4 Think long term, establish market monitoring
2.4.1 It's obvious, but is it a consulting company from China?
2.4.2 Does the market research company you are talking to have experience in your sector?
2.4.3 How much can market research teams take on and what is their capacity?
2.4.4 What market research tool does the company use? Does it meet its needs?
2.4.5 Will my China market research be data only or data + interpretation?
3 Do you need to conduct market research in China for your company?
Conducting market research in China: why and how
Market research is often interchanged with marketing research; however, knowledgeable practitioners can draw a distinction as marketing research deals specifically with marketing processes, while market research deals specifically with markets.
Market research helps you develop a market entry strategy with:
Useful information
Data collection
Market knowledge (sector trends and key indicators, for example)
Understanding the competitive landscape
Understanding Chinese Customers
The power of market research lies in the ability to gather and analyse information about consumers and their needs or wants regarding the products offered to them, such as services. This allows businesses like yours to access important data that can be used when making strategic decisions about how best to serve your target audience, while also helping to shape future product development plans accordingly.
Moreover, when entering the Chinese market, conducting market research is a key factor to gain an edge over competitors. The Chinese market is different from other Western countries. And the only way to come up with a proper strategy is to research key information to identify and analyze market need, market size, and competition.
Market research in China: 4 steps
Before you begin your Chinese market research, define your benchmarks
Establishing your reference point will help you know which direction you are going and what kind of information you need, i.e. it gives you context.
Benchmarking your progress is important. This will help you identify areas for improvement and services that are negatively impacting the company's performance.
Identify your industry's top competitors. Use their products and services as lenses through which to view customer satisfaction with you and other companies comparing similar purchasing experiences, both as non-customers and as potential new customers.