CRI Home - Photo- Forums - Talk China - Surf China - About China -  
  Webcast | CRI Today | China | World | Biz | SciTech | Sports | Life | Showbiz | Easy FM | Learn Chinese / English | Weather | Events
 
 
 
 
Approaching Market Researchers
2005-4-1 0:14:38      CRIENGLISH.com
Being asked to do a survey on the street happens every day in our life. But trying to make money out of the ¡°survey¡± business, is not immediately accessible for ordinary people.

It is a career that you will always act as a professional data collector and analyst. The industry is increditably young, simply because it entirely relies on the existence of ¡°market¡±, a concept and reality that was unavailable until mid-80s last century in China. Like other ¡°new industries and services¡±, market research is transplanted from the western society. When the foreign companies knocked on the door of the Chinese market, they first looked through a list of market report and analysis. Such business model was soon adopted by other Chinese businesses. They gradually realized that market research is a must to rationalize their cost-effect control. Without the information of market research, there would be great risk ahead.

 

Currently, there are about 3,000 big and small market research companies in China. It is regarded as one of the fastest growing industries and the its annual growth rate could reach 100%. But the main players are still those big international brands like AC Nielson and Gallup. Domestic market research agencies are still weak in terms of human resource, capital and professional techniques.

 

It is not hard to imagine that if you learn the model from the western market research companies, and employ several personnel to actually conduct the survey and put the data in to the computer software, you can see the result. However, what clients demand is always the reliability of the results. Without reputation in certain area of market research, chances are less for the companies to survive.

 

The influence of reputation can be reflected through a research project produced by a company. Just take AC Nielson for example. Its survey on global sleeping habit shows that one fourth of the Chinese fall into sleep after midnight, while two third of the Chinese surveyed get up before 7 in the morning. Such statistics maybe a bit silly, but it has demonstrated the strength of the company. Nielson¡¯s survey covers 28 markets in Asian, European and American countries and 14,000 respondents. Domestic companies, even the top one, can¡¯t have the global resource as many as that of AC Nielson¡¯s.

 

But the Chinese companies don¡¯t need to be global to compete with these international giants. The domestic market has an increasing demand for the service as China is fulfilling its WTO commitment. Localized and lower cost of market research service will benefit lots of domestic small- and mid-sized enterprises. All the domestic players should do is to be more self-regulated and more professional in a particular field.

 

(By CRIEnglish.com Biz Channel Editor Dandan Chen)


        Talk China        Print        Email        Recommend
 
Related Stories:

  Copyright of crienglish.com. All rights reserved.

Reproduction of text for non-commercial purposes is permitted provided that both the source and author are acknowledged and a notifying email is sent to us.
 
 

 
postalChina Post is progressing with its scheme to merge its two sub-businesses.
textilePeter Mandelson said he would hold talks with Bo Xilai this week.
YahooChinese e-commerce operator Alibaba.com is in the late stages of talks to sell a 35 percent stake to Yahoo Inc.
¡¤BOC IPO Could Take Place in 2005
¡¤China, Hong Kong, Japan, and Aussie Market Roundup 
¡¤CNOOC's Market Value Up By $7b
¡¤Producer Price Index Rises
¡¤Lenovo Profit Up 6% After IBM PC Buy
¡¤Power Supply Sees Robust Growth
¡¤HK Urges Manufacturers to Go "Green"
¡¤Major HK Banks's Interest Rate Hike
¡¤China Mobile First-Half Profit Rises