China market analysis - market
assessment
Market research
is a type of business intelligence that supplies a large amount of data
which is worth analyzing fully and intelligently. Having a good research
analysis would give you a clear vision of China market. We will then use
multivariate statistical processes to interpret the results in more depth to
serve our clients better. The following are the common multivariate
statistical analysis that we use:
1. Regression analysis
Regression analysis studies the dependence of a single,
interval scale variable (such as sales) on simple or multiple variables.
Regression analysis can be used to predict or explain the value of one
quantitative variable based on the value of another variable. It can also
predict or explain the value of a quantitative variable based on the value
of more than one other variable, and determine which of those other
variables has the strongest influence on the variable being predicted.
2. Factor analysis
Factor analysis is an analytical tool that helps to reduce a large number of
variables into a more manageable set. It does this based on correlations
within the data by (i) identify the number of factors; (ii) define the
factors as functions of the measured variables; (iii) analyze the factors
which have been defined. The factors produced can show what judgment
patterns lay behind people’s image evaluations of the products in our China
market research analysis.
3. Principal component analysis
Cluster Analysis uses several techniques to classify people, objects, or
variables into more homogeneous groups. It can be used to identify market
segments, develop typologies and find target markets in China market entry.
For example, with the help of different cluster processes we can find out
what the customer segments in the sector are and how attractive it is to
process the segments according to their willingness to purchase.
4. Cluster analysis
Cluster Analysis uses several techniques to classify people, objects, or
variables into more homogeneous groups. It can be used to identify market
segments, develop typologies and find target markets in China market entry.
For example, with the help of different cluster processes we can find out
what the customer segments in the sector are and how attractive it is to
process the segments according to their willingness to purchase.
5. Discriminant analysis
Discriminant analysis examines how two or more groups of respondents differ
from one another based on a few predictor variables. It is practical for (i)
discovering variables (i.e., a discriminant function) which are the
distinguishing factors, (ii) understanding differences among groups and
(iii) forecasting market behavior based on demographic and psychographic
variables. For example, we would be able to measure the average percentage
increase in sales per month since advertising on the TV has started.
6. Conjoint analysis
Conjoint analysis is used to evaluate preferences and tradeoffs that buyers
are willing to make for their desired product. We need to find out what
kinds of products are complementary or substitutes for one another. The
techniques are thus effective tools for developing bundling of product or
service offerings, optimizing product configurations, and diagnosing
competitive strengths and weaknesses in our service of China market entry.
7. Correspondence analysis
China market research frequently involves categorical data. With a
contingency able, this method allows us to differentiate any relations
between two or more categorical variables. This analysis could help us
answer the questions: who our customers are? who else our customers should
be? what new products we should create? etc.
8. Multidimensional
preference analysis
Consumers’
preferences for goods are based on various factors. However, these factors
are not often defined in the China market. Thus, a multidimensional
preference analysis will be able to analyze such data by using a data matrix
whereby the columns represent consumers and the rows represent products. By
analyzing the data matrix, we will be able to find out patterns of
consumers’ preferences and better marketing strategies can be formed.
9. Multidimensional scaling
analysis
This method is
used to find out what products are substitutes or complementary of one
another. Thus, we will be able to find out how do consumers perceive your
products and what products could affect the sales of your products.
10. Benchmarking analysis
In order to
understand what level of comparable services the competitors are supplying,
we could combine the benchmarking analysis with best-practice and relevance
analysis. We do not just show where competitors are possibly performing
better, instead we analyze in which areas it is worth being better. The
benchmarking analysis shows how performance leads to good positioning in
China market as consumers increase the purchasing intentions.
Through statistical analysis and our professional
experience, we are able to perform comprehensive market assessment, which
may include:
* Assessment of
market supply and demand
* Assessment of
market competition
* Overall
efficiency of the industry
* Strength and
weakness analysis of the products
* Opportunities
and threats related to the industry
* Assessment of
market potentiality
* Assessment of
the overall marketability
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