Q1: Why choose marketing research report from QYReports?
Being value-oriented, QYReports has always provided clients with the most valuable report. QYReports understands deeply the great value of consulting, and combines it with clients’ requirement closely. Based on our concentration and profession, we are confident in providing qualified and reliable consulting reports.
Q2：What kind of product does QYReports provide?
QYReports has focused on various fields such as chemical engineering, energy resource, automobile, IT, medicine, commodity. With long-term tracking investigation, QYReports probes deeply into these focusing fields. Inconvenience is usually caused by information asymmetric for clients. QYReports understands that, with clients’ aim and usage of buying marketing research products always in mind. Therefore, QYReports contributes most attention on producing qualified reports.
On account of long-term tracking, in-depth investigation and strict examination, QYReports guarantees that every published report is of good quality and great value. Clients can perceive QYReports’s being professional and responsible through checking report category or communicating with research team. QYReports is always willing to provide clients with excellent information service.
Q3: Why purchase a research report?
Business is a war without bullets. Most militarists and war leaders greatly treasure intelligence. Essential intelligence usually helps to reverse war situation. Maybe business competition is not as cruel as military war. But one probably gets defeated by competitors, if lack of sufficient intelligence. This is the reason why many multinational corporations set up a particular strategic planning department or an intelligence department. Such departments are vital in a company’s competing with others and self-development planing. It has been proved by many cases that competitive intelligence helps enterprises save large amount of expenditure and reduce risk.
Competitions are getting more and more intense in today’s commercial field. So when making decisions, one needs to be prudent and rigorous. Intelligence is just endowed by nature in doing that. It helps you to increase enterprise’s decision-making efficiency. Research report, among which, is the most common kind of competitive intelligence. Policy makers most frequently use this supporting material when making informational decisions. Nearly all rational decision making is based on abundant intelligence material. This has accounted for the reason of purchasing a research report.
Q4：How to choose a good research report?
Market research industry is still in the initial stage of development. But many large and small companies have arisen within this industry, due to a fairly low entry threshold, providing various research reports of every industry. Most of the time, clients have no access to read report content in advanced. They can only judge by a report catalogue. Some report suppliers just use this “information asymmetry” to attract customers with beautifully decorated catalogue but terrible text content. Confronting such situation, clients need to be more serious and vigorous when purchasing research report.
In general, reports written by some governmental organizations such as National Bureau of Statistics, General Administration of Customs, Development Research Center of the State Council, are more reliable. Besides, industry association is another reliable choice. Because industry association usually specializes in a specific field and has profound understanding of it. Apart from these, most of the other research reports are produced by independent commercial institutions. Such institutions are private-owned. If you choose these institutions, be careful of judging product quality. Usually, you can decide based on report catalogue, company background, report sample and communication with analyst. Count on yourself and former mentioned points when making actual decision. At the same time, market research industry is certainly becoming more and more standardized and reliable. The nature law of the good being developing and the bad being perishing functions.
Q5: What’s the value and application of research report?
It can be divided into three levels. In the first level, research report is a useful medicine to cure disease. It happens when information provided by research report meets exactly with clients’ requirement. Under such circumstance, research report yields great value. Maybe a 8000rmb research report is worth more than 100,000rmb in real practice. In this level, research report functions most.
In the second level, research report is like health care product. It can help to protect your health, but not treating disease. It happens when provided information partly matches with requirement, with only poor link. In this situation, research report can’t help clients to solve problems specifically, with less value comparing with the first level.
In the third level, research report turns to be a wrong medicine. There are two reasons for that. On the one hand, research report is of poor quality, providing incorrect info and data. On the other hand, clients rely too much on the report, thinking that it can help solving problems and losing himself/herself. The above mentioned two reasons will cause a retro-action, making research report a wrong medicine.
In conclusion, the value of research report depends on matching degree between provided info and clients’ requirement. With higher matching degree, research value will be higher. Lower matching degree, lower value. Thus, we suggest your focusing on matching degree when purchasing research report. You’d better communicate more with report supplier or report analyst to decide whether the report can satisfy your requirement. Be careful to choose a right report.
Q6：Can you explain the research report industry chain?
In order to explain the research report industry chain, first we have to learn the industry as a whole, as well as the position and function of research report. According to QYReports’s analysis and estimation, global consulting industry creates a total estimated value of $5.5-6.5 billion. Two main product forms constitute this industry. One is engineering consultation. Another is usual consultation. Engineering consultation(including consultation of diggings, port construction, IT, etc), amounts to 70% value of the whole consulting industry, which is about $4-4.5 billion. Usual consultation(including consultation of management, data service, information service, market investigation, market research, data base, E-journal, etc), represents about 30% of the gross value, which is $1.5-2billion. The total value of 2015 China consulting industry, amounts to 3 billion RMB, representing 10% of the global gross value. Around the world, the US ranks the first in consulting industry, Europe the second, Japan the third, Korea, Taiwan, Singapore, Hongkong the fourth.
In Chinese market, engineering consultation occupies 75% of the whole market, equivalent to 2.25 billion RMB. Usual consultation occupies 25%, equivalent to 0.75 billion RMB. Those construction projects, which require professional engineering consultation, usually charge a high fee of 1 million RMB or more. In terms of usual consultation, key representative companies of management consultation include McKinsey, Bearing Point, Roland Berger, ATKearney, Sinotrust, ALLPKU, Ciena, Bexcel, Hejun, Redetage, etc. Database includes academic database, industrial database, commercial database, while Wanfang and Tsinghua Tongfang belong to academic database. National Bureau of Statistics, Customs, Industry association belong to industrial database. CCTV International, CCID, IMS, IDCIT, GARTNER belong to commercial database. CCID, HCR, DRC, SIC, SINO belong to marketing research company. Ipsos, AC, Nielson, Gallup, RI China, Horizon, ACMR belong to marketing investigation organization. Conferences and training, electronic journal, data and advertisement monitoring, are also included in usual consultation. These companies provide all kinds of information service in commercial field. This is general consulting industry.
According to our estimation, conferences and training, and other consulting items, occupy 50% of the 0.75 billion RMB usual consulting market. Management consulting shares 30%, equivalent to 0.225 billion RMB. The left 20% includes market research, database, commercial database and market investigation, amounting to 0.15 billion RMB. Management consulting, market research and market investigation can be subdivided. But we don’t discuss that much here. If you need more related information, please contact QYReports international research center.
Q7: What’s the position of Chinese consulting industry in the global consulting market?
Management consultation was mainly perceived as a think tank of a country or an army, before year 1760. Commercial organizations began to employ consultation in year 1760-1890, primarily concentrating on engineering consultation. After that, management consultation began to dominate the whole industry. There is one famous example in the Korean War. The US Rand Corporation had made a consulting report of the Korean War in the 1950s, discussing whether China would dispatch troops to Korea. This 600-page report concluded only one sentence. Rand tried to sell this report to the US government at a price of $5 million before the war. But the US government showed no interest in it, regarding it as a crazy selling product. After the Korean War ended, the US government thought of this Rand report when summarizing the warfare. They finally bought it at $2.8 million. The one-sentence conclusion of this report is that China would certainly dispatch troops to Korea and the Korean War would definitely be arduous.
The Rand Corporation had made a detailed analysis of China, with substantial argumentation. The conclusion of this report was thus rational and feasible. But the US government couldn’t understand the value of consulting report. The US military representative declared a losing choice that the US suffered a war loss of $0.83 billion because they refused to pay for a research report, which charged only as much as a plane. A lot more typical cases can be found in McKinsey in commercial field (the McKinsey has made a research of Nobel Foundation for instance). All these profound-influencing cases make consulting industry more and more popular around the world.
Apart from those national-level think tank, QYReports has also classified the modern consulting industry into several types. In management consultation, the US has developed for 80-100 years; Europe 70-90 years; Japan 60-80 years; Korea, Taiwan, Singapore and Hongkong around 40 years; mainland China 15-20 years. With regard to marketing research report, the US has a history of 50-70 years; Europe and Japan 50-60 years; Korea, Taiwan, Hongkong and Singapore around 30 years; mainland China 6-10 years.
According to the above mentioned developing history of global consulting industry, mainland China is in the initial stage of development. Therefore, many irregularities exist in different aspects such as copyright, intellectual property and industry standards regulated by the government. At the same time, opportunities and developments have also arisen. Although consulting industry is just primary in mainland China, it is the fastest developing market around the world.
Q8: How is research report made?
The generation of research report is concerned by most clients when purchasing it. Since most of our clients are from China, let’s first introduce the generating process of research report in mainland China, based on our internal understanding of this industry and external peer communication. The great mass of marketing research reports (mostly user report), adopt the following procedure.
First, choose a topic. Secondly, make a skeleton catalogue. Third, fill content. Fourth, audit report. Fifth, finish and publish report. As for report content, there are two main information source, first-hand information and second-hand information. Second-hand information refers to information searched from the Internet or data bought from database(NBS or CUSTOMS). First–hand information refers to information concluded from telephone interview, face-to-face interview, experts interview, meeting or other first-hand material.
With regard to information cost, information searching costs the least, database support the second least, telephone interview the third least. Face-face interview cost higher, in-depth interview much higher, and expert interview the highest. A research may adopt all of these approaches, or just some of them.
In general, a good-quality research report needs 1-3 months to be finished. Time varies according to different data used and different people included. Thus, it’s difficult to define an exact procedure or process of making research report. Both time and cost vary. However, specialization has become a basic industry standard. Professional and dedicated products will be more and more popular.
Question 9: How to make full use of a research report?
Apart from some customized research report, many clients usually regard a report as a book or a reference book, according to our former experience. After they have bought a report, they will only read it when they think it urgent and necessary to do so. It’s above reproach if clients require only that.
However, QYReports International Study Center suggests that clients make full use of a research report. There are lots of ways to attain that. On the one hand, clients can work on the report carefully and get what he/she needs from the report data. On the other hand, clients can communicate and interact with the report analyst, with the analyst introducing the report systematically and detailedly. Based on analyst’s idea and suggestion, clients can make his own decision. During this interaction with the analyst, clients can quickly understand the analyst’s ability and strength. Also, clients can judge the reliability of the report data, making more convincing decision and reducing decision-making risk. A free two-hour interaction service is provided by our study center, according to our after-sales service clause. This service is to make clients read and use a report in a better way. Clients can also complain about the defective product through this service.
Question 10: Who need to buy a research report?
Foreign-owned company or joint-venture company usually have their own special intelligence department or group advisory organ. They are familiar with research report and marketing investigation, performing standardized and well-organized operation procedure. Here, we don’t go into much detail on these companies. Let’s take a look at those clients who buy a research report for the first time or those who temporarily can’t decide whether to buy it or not. In general, a third-party research report is needed in investment, recombination and financing. Company listing, product marketing, marketing management are also in need. Moreover, investment decision, project feasibility analysis, new business development need a report as well. For many of the above-mentioned companies, it’s those high level personnel who will read research report. Therefore, mostly it’s these people who need to purchase research report.
Question 11: What’s the advantage of QYReports?
Some clients have once ordered customized report. Some of them may have a feeling that“I have paid for the report. But why am I still so tired.”In the same way, some consulting companies feel that I have devoted a lot. But clients always seem to be invisible of my endeavor. Clients are always unsatisfied with research project. Some consulting companies even introduce themselves as first payment company(referring to those companies which can’t receive balance payment). Both consulting companies and those high-level managers who have once contacted consulting companies can understand the above –mentioned feelings. “Responsibility is the only reason we conclude for all these troubles.” Probably no company will admit that it is an irresponsible company . However, this is the reason to be blamed for most unpleasant cooperation. From the perspective of consulting company(supplier), some project managers often play little tricks in order to get a project, which plants a bomb for future work. This is common phenomenon in consulting projects, being the root of irresponsibility(it can be purposeful deliberation). From the perspective of clients, many clients think that purchasing research report service is like buying a computer or a television. Everything will be done and finished by consulting company after they have signed a contract and have paid for the fee. When the final report doesn’t meet with their’ expectation, a battle begins then. But QYReports always insists that we provide clients with information product instead of tangible product. Both research company and clients should be clear of each other’s requirement and expectation. This is not a simple television-buying behavior, but a bilateral cooperation.
QYReports thinks that in a successful research project, both research company and clients should firstly be clear of project content, being responsible for each other. A seasoned project manager should use professional approaches to raise a project proposal. At the same time, clients should also share with project manager his/her project requirement, goal, background and other closed related information. In this way, information asymmetry due to lack of bilateral communication and understanding, will be prevented.
After that, clients can somehow decide whether to cooperate with research company or not, based on communication with project manager, which helps judging the professionalism of project proposal, specialization of research group, project experience and resources for project implementation.
Therefore, QYReports advises that both parties involved should be serious and responsible. So that successful signing up contract will be guaranteed. When formal contract signed up, all operation actions will be seriously performed according to contract terms. However, research projects usually can’t follow up with advanced planning, because of some unexpected difficulties.
When that happens, research company should shoulder more duties and responsibilities, instead of blaming clients. Clients have to coordinate with research company during project start-up. Apart from that, clients can enjoy God-like treatment, with no need to coordinate with research company redundantly.
There should be a good mechanism of project failure in case project really can’t be executed by research company. Japan has done quite a good job in this aspect. Simply it’s compensation. Only when both parties understand that, can they be serious of project implementing. Neither of them can afford the price of project failure. So they will contribute most attention on all prepared work.
QYReports understands deeply the responsibility and risk towards both consulting company and client. This understanding shines. QYReports has paid great effort to carry out responsibility and to reduce risk, which also helps to improve its ability and strength. Turnkey service of research project is thus guaranteed and provided.