Market Research: Information Sources for Small Business
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1 Market Research: Information Sources for Small Business The New York Public Library Science, Industry and Business Library
2 What We Will Cover Today What is Market Research? Why Do Market Research? Starting Points: SIBL Guides, Books and Online Resources Industry Information: Market Research Reports, Associations, Articles and Statistics, and Finding Other Businesses Customers and Consumers: Demographics, Consumer Spending, Target Markets, and Advertising Review: Market Research at SIBL
3 What Is Market Research? Market Research: The systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services. - American Marketing Association Two main types of Market Research: Primary Research - You are involved in the actual datagathering process - distributing questionnaires, telephone or mail surveys, interviews. Secondary Research - Involves the use of existing data that has already been compiled by someone else and is available in published form.
4 Why Do Market Research? Start-up Phase Key elements of your business and/or marketing plan Convince your banker and potential investors Identify your target audience Study market characteristics Select the best location for your business Expansion Phase Re-evaluate your customers changing needs Measure advertising efficiency Identify new markets and new opportunities Stay abreast of new developments and trends in your industry
5 Starting Points: SIBL Guides NYC Small Business Resource Center: Business Owner s Manual - Market Research: marketing/marketing_research.html SIBL Research Guides - Market Research:
6 Starting Points: Books and Online Resources Books - from NYPL s CATNYP Catalog: (subject headings marketing research or industrial marketing ) The Effective Use of Market Research: How to Drive and Focus Better Business Decisions Consumer Insight: How To Use Data and Market Research to Get Closer To Your Customer Websites with Hints and Suggestions: Market Trends Condensed Guide to Market Research Marketing Virtual Librarian
7 Industry Information: Market Research Reports Companies and publishers produce and sell reports to particular clients or to the public. Electronic Resources at SIBL for finding Market Research Reports: MarketResearch.com Academic Market Research Monitor Business Source Premier (EBSCO) emarketer (For information related to e-business, online marketing and emerging technologies.)
8 Industry Information: Trade and Professional Associations National Trade and Professional Associations of the United States Encyclopedia of Associations in print, or as an electronic resource in: Gale s Ready Reference Shelf Encyclopedia of Business Information Sources
9 Industry Information: Journal Articles and Statistics Trade Journals Analysis and news about market trends and products and services, statistics, and company information. Searching for Articles and Statistics using Electronic Resources Business Source Premier (EBSCO) Business and Company Resource Center FACTIVA TableBase County Business Patterns (U.S. Census)
10 Industry Information: Competitors, Clients, Suppliers Reference USA D&B's Million Dollar Databases Industry-Specific Directories A selected alphabetical list of the Library's industry directories is available at: ThomasNet (Thomas Register)
11 Customers and Consumers: Demographic Information United States Census / American Factfinder Infoshare Online Demographics USA Country Edition Zip Edition American Incomes: Demographics of Who Has Money (New Strategist Publications)
12 Customers and Consumers: Spending Habits and Target Markets Survey of Buying Power (a special issue of the journal Sales & Marketing Management) Household Spending American Generations: Who they are. How they live. What they think. (Two more titles from New Strategist Publications. For more information, visit Consumer Expenditure Survey cex
13 Customers and Consumers: Planning for Advertising Lifestyle Market Analyst Marketer s Guide to Media (MediaWeek) Standard Rate and Data Service (SRDS) Also available electronically Resources for advanced Advertising Planning: Mediamark Research Inc. Order reports electronically at: Simmons Market Research Bureau Order reports electronically at:
14 Review: Market Research Guides at SIBL NYC Small Business Resource Center: Business Owner s Manual - Market Research: marketing/marketing_research.html SIBL Research Guides - Market Research: Please ask us if you have questions
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