As a foreign trade person, do you need to do market analysis? How to do market research? It involves many aspects, including organizing and collecting information on the target market, understanding the current situation of the market and its development trends, analyzing market demand trends, and providing data and information based on subsequent development market and marketing decisions.
We can divide it into macro and micro parts. Macro can be said to be a basis for investigation and analysis, it may determine some trade big data and big direction. Perhaps some judgment and decision -made basis will come from here. Micro is biased towards practice, we have obtained some macro data from the early investigation and analysis, in fact, it needs to be analyzed and verified through some practice, and from which to find new clues.
So really do a good job of market research and analysis, not only to look at the macro trade data, but also from the micro-source data, to obtain more detailed information about products, brands, markets, etc., many of these information are in the micro level.
Macro Market Analysis
The first is to gain insight into your products. To do market research and analysis, it is essential to have a certain degree of understanding of their own products. It can be said that everyone's products are different, including product specifications, performance, use, production links and so on, these are we need to understand. The second is to get some trade data. For example, use tools like Google Tools, Customs Data, etc. to query the trade data we need for trading countries, industry markets, and so on.
Then there's the target market. I can first look at the whole target market from a macro perspective, such as, the political and economic state of the country in which the market is located, the size of the market, tariff level, trade policies, trade activity, geographical location, port shipping in the market area, market retail price, what are the local well-known brands in the target market, product name. Whether the specifications meet the local market and so on, and then combine with their own company situation making some preliminary judgment.
Finally, we understand the various roles of the supply chain, including its pricing strategy, profit distribution law, different roles of its balanced pricing decisions and so on. When we collect some market information and data, it is important to analyze and make decisions.
Micro Market Analysis
The first is to master the correct search thinking and methods, such as using Google search or customs data, to obtain some market information, potential customer information, detailed transaction data and so on. And do a good study of the target market at least 10 local well-known brands. We need to know that in any market information survey, these well-known brands can’t be avoided. Why analyze and study these well-known brands? Because we can learn from its official website, operating products, etc.to understand how they promote their own on the network and their promotion method of marketing channels. Doing these research understanding the terminal market is very helpful.
There are also from the trade fairs and customs data that we can obtain the target market area, large and small domestic and foreign manufacturers, traders, downstream demand manufacturers and other related products market directory information and trade data. At the same time, mastering the product end market hot product and retail price levels, which has a very important basis for decision-making for your product push and research and development programs. The second is to search for information about potential customers, find and summarize the characteristics of various types of customers, and find out the most suitable type of customer to work with.
We can see the micro part of the market analysis content, including a lot of micro data and information. The amount of information needs us to spend a lot of time to study and analyze, and these analytical data and information are very important, which can help us to verify survey of the macro data. In short, in this market research analysis, we should dialectically look at each survey data, content information, and not blindly look at from the macro-level, but also from the practice of micro data to analyze market information.
In short, in this market research analysis, we should dialectically look at each survey data, content information, and not blindly look at from the macro-level, but also from the practice of micro data to analyze market information.