Market research – The pathway from consumer needs to final products

Gloria Jun Zhang
Horizon Research Consultancy Group, China

Minghui Zhu
China Vanke Co., Ltd

Qing Tan
Horizon Research Consultancy Group, China

INTRODUCTION

Through a case study on real estate product development, this paper aims to illustrate that market research can add value to clients and help them realize the value of understanding consumer insights. The Vanke company introduced in this paper and the China real estate market can be considered as epitomes of Chinese companies and China market, respectively. China has been adopting market-oriented economy for only 30 years, and most Chinese companies are currently not good at making use of the results of market research to strategize their businesses. It is therefore a challenge facing research firms, and also the value they can provide, to help clients to effectively utilize the research results.