Industries & Competition:
Steve Cramer
UNCG Business Librarian
smcramer@uncg.edu
336-256-0346
AIM: stevebizlib
MSN: smcramer@uncg.edu
Example of Market Research in a Business Plan
Retail Clothing Store Business Plan: Boston Rags: See pp. 7-11 of the PDF version
- From the library's online Business Plans Handbook collection (Gale Virtual Reference Library)
- Provides hundreds of full text sample business plans.
The U.S. Census Bureau is the most important source of demographic data. However, some commercial publishers manipulate Census data, use unpublished Census data, add descriptive information, and/or provide their own data.
Many demographic sources overlap, but some also have unique content.
To help define your research needs, and to help choose what sources you should try, ask yourself the following questions:
- What years do I need covered?
- What geographic area(s) do I need? National, regional, state, metropolitan statistical area (MSA), designated market area (DMA), city, zip code, etc.
- What demographic characteristic(s) do I need? Let's make a list of possibilities..
2. Census Basics State & County Quick Facts
Part of the Census web site. Good for simple look-ups.American FactFinder
The more advanced portal to 2000 census data and the American Community Survey (ACS).
American Community Survey: Data sets
Allows you to produce specific, customized tables.LINC: N.C. Census Data
The most detailed source for N.C. places. Provided by the State Data Center in Raleigh.
Statistical Warehouse
A numeric database covering over 25,000 series, including many covering demographics.
Provides ranking and downloading options.
CEDDS: The Complete Economic and Demographic Data Source
Reference HC101.C616 2004
Provides demographic information for MSAs and counties covering 1970 to 2030. Covers population, employment, earnings, personal income, household income, and total retail sales, and more.LINC and the Census also provide population projections, but not for all the other types of demographic data that CEDDS provides.
Consumer Expenditure Survey
The source for most U.S. consumer spending data. The Survey collects data on the "buying habits of American consumers, including data on their expenditures, income, and consumer unit (families and single consumers) characteristics." Look at the annual report (PDF format) or the tables, which provide the most current data. You can also generate your own customized reports.Statistical Warehouse also covers this info, but provides ranking and downloading options. But it's still only US-level data.
Household Spending: Who Spends How Much on What
Reference HC110.C6 A670 2007
The data is organized by age, income, household type, race and Hispanic origin, and region. Covers spending overview, apparel, entertainment, financial products and services, food and alcohol, gifts, health care, household operations, shelter and utilities, personal care, reading, education, and tobacco, and transportation.Best Customers: Demographics of Consumer Demand
Reference HC110.C6 B470 2005
This book "reveals who the best and biggest customers are for hundreds of individual products and services", according to demographic characteristics of households.
Demographics USA, County Edition
Reference HF5438 .S870 2007
A good, general source, with an emphasis on retail sales and spending power data. This book provides rankings by region, state, and MSA; demographic profiles; retail sales by store groups and merchandise lines; 5-year projections; consumer buying power by county; and establishment and employment data by county.Demographics USA, Zip Edition
Reference HF5438 .S880 2005
Zip code-level data. Includes seven sections: 1. Introduction; 2. Geographic correspondence; 3. Sectional center summaries (3-digit zip codes); 4. State and regional summaries; 5. Basic demographics, zip level; 6. Detailed demographics, zip level (includes consumer expenditures); 7. Business characteristics, zip level.Editor & Publisher Market Guide
Reference HF5905 .E38
An annual publication. It includes six sections. I: Market rankings (population, income, total retail sales by products, sales by types of products) by MSA, county, and city. II: U.S. newspaper market surveys, by city (includes 16 categories, such as banks, retailing centers and major stores, and transportation). III: Population, Ages, and Ethnicity. IV: Housing, income, education, and E&P indices V: Retail sales by product type for MSA's and counties. VI: Canadian newspaper market surveys (the same 16 categories used in section II.)
4. Psychographics Definition from the Encyclopedia of Public Relations
Lifestyle Market Analyst (LMA)
Reference HF5415.33.U6 L54 2007
Use this book for activities or hobbies ranked to urban areas. Includes four sections:
- Market profiles (demographics and lifestyles in DMA's);
- Lifestyle profiles (by DMA);
- Consumer segment profiles;
- Consumer magazines & direct marketing lists by lifestyle
American Generations
Reference HC 110 C6 M540 2005
"Who They Are and How They Live." Applies demographic data to survey data about attitudes and behavior.Articles from Trade Journals
New data about psychographics is often published in trade journals, business magazines, and newspapers. Search for such articles using one of the business article databases.Besides the popular LMA, the market research databases (below) and articles are the best sources for psychographic profiles.
Provides 25 to 45-page industry reports for all 5-digit NAICS codes (over 720 reports).
- Each report includes statistics, industry structure, product & customer segmentation, performance analysis, major players & market share, external drivers, 5-year forecasts with forecast analysis, and more.
- Reports are updated three or four times a year.
Mintel Reports
Provides full-text market and consumer research reports.
- International in scope, but with emphasis on the United States and Europe.
- Most of the reports cover market drivers, market share, size, structure, segmentation, trends, consumer expenditure and spending patterns, psychographics, forecasts, and company and brand profiles. Some of the reports include Simmons and ACNielsen data.
- Data can be downloaded into a spreadsheet.
Euromonitor GMID
Provides marketing data and reports on countries, companies, markets, and consumers from over 200 countries.
- Data can be sorted and downloaded in Microsoft Excel format.
- Includes four sections:
- Statistics: consumer lifestyles, retailing, consumer market sizes, and forecasts.
- Market Research: market analysis reports, major market profiles, consumer lifestyles, and the retailing industry.
- Companies and Shares: Profiles for with financial, market share, and brand information.
- Sources: the research sources used by Euromonitor
Business Insight
Provides full-text market research, analysis, and forecasts for five industry sectors:
- e-commerce and technology
- consumer goods
- energy
- finance
- healthcare
- The "Interactive Reports" interface breaks those 5 sectors down into 10 sectors.
A. NAICS & SIC Codes What is NAICS?
Examples of NAICS codes:
51 Information
513 Broadcasting and telecommunications
5133 Telecommunications
51332 Wireless telecommunications carriers (except satellite)
513322 Cell phones and cell phone serviceFor industries (search for the industry name):
- NAICS Search & Browse (Census)
- NAICS Manual (Reference HF1042 .A55 2002)
For U.S. companies (search for the company name):
- ReferenceUSA (US companies only)
- LexisNexis Academic
- Corporate Affiliations
What is SIC?
- Created by the U.S. Census Bureau in the 1930's, Standard Industrial Classification codes are numbers that classify industries (i.e. business activities, like types of manufacturing and services).
- SIC codes are hierarchical -- the longer the number, the more detailed the industry. Officially, SIC codes are up to four digits long. However, eight-digit SIC codes are used by some sources (ex. Dun & Bradstreet) to define more specific industries.
- NAICS has replaced the out-of-date SIC structure. However, a few databases and reference books still use SIC.
Examples of SIC codes:
23 Apparel made from fabrics and similar materials
232 Men's and boys' furnishings, work clothing, and allied garments
2325 Men's and boy's separate trousers and slacksFor industries (search for the industry name):
- SIC Search (OSHA)
- SIC Browse (OSHA)
- SIC Manual (Reference HF1042 .A55)
For companies (search for the company name):
- ReferenceUSA (US companies only)
- LexisNexis Academic
- Corporate Affiliations
Got your NAICS codes?
Covers 14 million U.S. companies.
- Companies can be searched by location, industry name, SIC or NAICS codes, sales, number of employees, and more.
- Search results can be downloaded.
- Use this to see how many U.S. companies engage in a certain business in a state, zip code, or MSA.
- Business activities are defined by NAICS codes.
- This site also provides the size of those companies by number of employees.
- Statistical Warehouse also covers this info, but provides ranking and downloading options.
Industry Analysis can be produced from a wide variety of sources. But here are a few databases that will cover most of your needs. See my Retail Industry Research guide for more options.
- Each report includes statistics, industry structure, product & customer segmentation, performance analysis, major players & market share, external drivers, 5-year forecasts with forecast analysis, and more.
- Reports are updated three or four times a year.
S&P NetAdvantage: Industry Surveys
Reference HC106.6 .S74
Provides 30-40 page reports on 52 industry surveys.
- Updated twice a year.
- Topics include current environment, industry profile, glossary, industry references (sources of more information), composite industry data, and comparative company analysis.
- Also provides over 20 Global Industry Surveys.
MarketLine Business Information
Covers 2,000 international industries.
- Each industry profile includes 5-year historical and 5-year forecast market values, volume, and shares, segmentations, and analyses of trends, major players, and the competitive landscape.
D. Articles (magazines, journals, newspapers)Business databases
Five basic techniques for searching databases for articles:
1. Identify the main concepts or keywords of your search question.
2. Combine keywords with "AND"
ex: consumer satisfaction and computer
3. Search for synonyms with "OR"
ex: soda or carbonated beverage
4. Using parenthesis, you can use OR and AND at the same time.
ex: (soda or carbonated beverage) and (consumer satisfaction or customer loyalty)5. Truncate words that have various endings with a *
ex: market* would also pick up markets, marketing, marketer, marketers, etc.
