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MGT 240: Introduction to the Entrepreneurial Experience

1. NAICS Codes
2. Industry & Market Analysis
3. Competitive Analysis
4. Consumer Markets

Citing Business Databases in APA Style

Steve Cramer
Business Librarian
smcramer@uncg.edu
336-256-0346
AIM: stevebizlib

1. NAICS Codes: a basic tool you'll need to use

What are they?

• Pronounced "nakes," NAICS codes are numbers that classify industries (i.e. business activities, like types of manufacturing and services).
• NAICS codes are hierarchical -- the longer the number, the more detailed the industry.
• NAICS codes are up to six digits long.
• NAICS is the modern version of the old SIC structure.
• Details on NAICS

What are they used for?

• To find competitors.
• To find customers.
• To find industry information and data.
• To find financial ratios.

Examples of NAICS codes:

51 Information
513 Broadcasting and telecommunications
5133 Telecommunications
51332 Wireless telecommunications carriers (except satellite)
513322 Cell phones and cell phone service

Finding NAICS Codes:

For 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
• Corporate Affiliations
• LexisNexis Academic

2. Industry & Market Analysis

Begin with...

IBIS Industry Market Research

• Provides 25 to 45-page industry reports for all 5-digit NAICS codes -- over 720 industries.
• Each report covers segementation, market characteristics, industry conditions, key factors, industry performance, outlook, and more

Economic Census

Conducted every five years (years ending in -2 and -7), the Economic Census provides detailed geographical breakdowns and more detailed data, including:

1. number of establishments
2. number of employees
3. payroll
4. total sales
5. sales by type of product in each NAICS code
6. other specialized data for each industry

U.S. Data

• Find the appropriate sector.
• Then select any of the PDF links for that sector (ex. "Product Summary" or "Establishment and Firm Size").
• Then look up your specific NAICS code to find the detailed data for your industry.

State, County, & City Data

• Use the pull-down menu or the map to select a state.
• Data for counties, places (cities), and metro areas is also available for the 3 to 6-digit NAICS data.

Data Sets from American FactFinder

• Use this site for more advanced needs, like comparing industries or geographical areas.
• You can also download data into a spreadsheet.
• Use the "Filter data sets" link to get the most options.

More Data Sources

County Business Patterns

• Tells you how many companies exist in your industry in a certain country, zip code, or MSA.
• Also covers the employee size of those companies.
• Organized by NAICS code.

Manufacturing & Distribution USA: Industry Analyses, Statistics, and Leading Companies 2006

• Provides statistics on 614 industries, listed by NAICS codes.
• The statistics include the number of establishments, employment, wages, production, selected ratios, leading companies, materials consumed, product share, and industry data by state.
• The various indexes are in the third volume.

Bureau of Labor Statistics

• Provides employment and productivity overviews of 12 industry subsectors.

Mintel Reports

• Provides full-text market and consumer research reports.
• 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.

Euromonitor GMID

• Provides marketing data and reports on countries, companies, markets, and consumers for the US and other countries.

Business Ratios & Industry Norms

Learn about the average financial performance in your industry.

Dun & Bradstreet Key Business Ratios

• Provides 14 financial ratios for 800 products and services, arranged by SIC code.
• Includes three years of data.
• Data can be exported into spreadsheet format.
• More info

Duns Industry Norms and Key Business Ratios
Reference Desk

• Provides 32 performance indicators for over 800 products and services, arranged by SIC code.
• Covers the most industries of any ratio source.

RMA Annual Statement Studies: Financial Ratios Benchmarks
Reference Desk

• Provides 40 performance indicators for 340 products and services, organized by NAICS code.
• Provides five years of data.
• Available online via OneSource Global
  1. Select "International Businesses" in ReferenceUSA.
  2. Then search or browse for an industry.
  3. From the industry profile, look for the "RMA Industry Norms" link on the left.

Almanac of Business and Industrial Financial Ratios
Reference HF5681.R25 T68

• The Almanac provides 50 performance indicators for 192 industries, organized by NAICS code. 
• Provides the most ratios per industry of any ratio source.

 

3. Competitive Analysis

Private Companies

ReferenceUSA

• 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.

County Business Patterns

• Tells you how many companies exist in your industry in a certain country, zip code, or MSA.
• Also covers the employee size of those companies.
• Organized by NAICS code.

Non-Profits

Foundation Center 990 Finder

• For nonprofits with revenue over $25,000, the Foundation Center provides their IRS 990 forms, the most detailed sources for profiles of nonprofits.
• The IRS 990 form covers a nonprofit's mission, programs, and finances.

GuideStar.org

• Another option for 990 forms.
• Free registration is required.

ReferenceUSA

• Covers US associations as well as companies.
• Associations can be searched by location, industry name, SIC or NAICS codes, sales, number of employees, and more.
• Search results can be downloaded.

4. Consumer Markets

a. Demographics

Basic Source: the Census

U.S. Census Bureau

State & County Quick Facts
Part of the Census web site. Good for quick look-ups. Provides both 2000 Census data and the 2005 American Community Survey (ACS) data.

American FactFinder
The more detailed portal to Census and ACS data.

Beyond the Census

Demographics USA, County Edition
Reference HF5438 .S870 2005
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.

CEDDS: The Complete Economic and Demographic Data Source
Reference HC101.C616 2004
Convenient for projections. Demographic information for MSAs and counties covering 1970 to 2030. Covers population, employment, earnings, personal income, household income, and total retail sales, and more. Also includes rankings by state, MSA, and county, of past and future populations (in the beginning of volume 1).

Chamber of Commerce, County, and City Web Sites
Demographic profiles are often provided by such sites. (Example from Charlotte) Use Google to find them

b. Psychographics

Definition from the Encyclopedia of Public Relations

Lifestyle Market Analyst (LMA)
Reference HF5415.33.U6 L54 2004
Use this book for activities or hobbies ranked to urban areas. Includes four sections:
1. Market profiles (demographics and lifestyles in DMA's);
2. Lifestyle profiles (by DMA);
3. Consumer segment profiles;
4. 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.

Mintel Reports
Provides full-text market and consumer research reports. 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.

Euromonitor GMID
Provides marketing data and reports on countries, companies, markets, and consumers for the US and other countries.

c. Consumer Spending

Basic data

Consumer Expenditure Survey

• The ultimate 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."
• The tables on the homepage provide the most detailed data.

More detailed national data

Household Spending: Who Spends How Much on What
Reference HC110.C6 A670 2007

• The most detailed source for US spending data.
• The data is organized by age, income, household type, race and Hispanic origin, and region.
• Covers 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

• The companion book to "Household Spending."
• This book provides short profiles of spending patterns for hundreds of products and services.

Data for US counties & zip codes

Demographics USA, County Edition
Reference HF5438 .S870 2005

• 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

• Provides 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.

More options from the Consumer Spending guide