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Marketing 441: Research Session

Marketing 441: Research Session. Shana Gass, MSLS sgass@towson.edu Reference Librarian January 27, 2010 http://pages.towson.edu/sgass/courses. Primary vs. Secondary Data. Primary Data: “new data gathered specifically for the project at hand”

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Marketing 441: Research Session

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  1. Marketing 441:Research Session Shana Gass, MSLS sgass@towson.edu Reference Librarian January 27, 2010 http://pages.towson.edu/sgass/courses

  2. Primary vs. Secondary Data • Primary Data:“new data gathered specifically for the project at hand” • Secondary Data:“data…already gathered for some other purpose” --Marketing, 13th ed., Etzel, Walker & Stanton

  3. Secondary Data Issues • Age • Geographical Scale • Definitions • Some data is elusive!!

  4. Topics • Company • Industry • Target Market • Promotion

  5. Local Case: Your Restaurant

  6. Going National?

  7. Who’s the competition? Available through Baltimore County Public Library or Enoch Pratt Free Library

  8. Will also include estimated revenues for private companies

  9. Google Maps: Nearby Restaurants

  10. Social Media … Learning about Company, Competitors, and Customers

  11. TRY IT !(competitors for bigger co’s) • Use Library Database LexisNexis Academic to find Competitors for Darden Restaurants (owners of Olive Garden…) • Hints • Start at http://cooklibrary.towson.edu/marketing • Click on Business (top of screen) before searching

  12. To Summarize: Companies & Competitors • Competitor list: • Directories (Reference USA database, Million Dollar database) • Company Profiles (LexisNexis Academic & others) • Market Share sources • Companies: • organizational web sites & (for public co’s) SEC filings • article searching

  13. What about the Industry & Market? • Market Share sources • Trade associations • US Economic Census web site • Household Spending, Demographics USA (in Reserves) • Industry Reports (Standard & Poor’s NetAdvantage, Business Source Complete reports)

  14. Market Shares • Business Rankings Annual (annual book in Reference) • Market Share Reporter (2-vol set in Reserves) • RDS Business Suite, TableBase tab (research database) • Articles on companies & industries from library databases. • See: http://pages.towson.edu/sgass/guides/big4businessdatabases.pdf

  15. Trade associations (AKA Industry Associations/organizations) • Membership drawn from companies in the industry • Local, state, national, international • Represent concerns of industry • Collect information on industry

  16. TRY IT! Can you find Olive Garden’s market share using: Market Share Reporter, Business Rankings Annual, RDS Business Suite (database), or another library database? How about information more generally on US dining habits?

  17. TRY IT! Can you locate a trade association relevant to the restaurant industry? What info can you find?

  18. Other Examples of Trade Associations • Professional Chef’s Association • Green Restaurant Association • International Hotel & Restaurant Association • Food Industry Suppliers Association

  19. US Economic Census • Bureau of the Census • Every 5 years – latest is ‘07 • Establishments, sales, payroll • Arranged by NAICS code • Read the definitions!

  20. Tool for Industry Research: North American Industry Classification System (NAICS).Available: http://www.census.gov/epcd/www/naics.html 72Accommodation & Food Services 722Food Services and Drinking Places 7221 Full-Service Restaurants 72211 Full-Service Restaurants 722110Full-Service Restaurants Examples of NAICS codes Full “primary” NAICS code for sit-down (vs. fast food) restaurants

  21. Accessing the US Economic Census • http://business.census.gov • Also: • http://factfinder.census.gov > Economic Census > Get Data • http://www.census.gov/econ

  22. Try It! • Go to business.census.gov • Can you find information on limited-service restaurants? (using the appropriate NAICS code?) • Can you find information on limited-service restaurants within the state? How about Howard County?

  23. Who are your customers?

  24. Know Your Target Market: Secondary Data • Demographics • Demographics example: American Factfinder - US Census • Psychographics • Psychographics example: My Best Segments - Claritas PRIZMBoth of these links are on the Marketing Subject Gateway

  25. Try It • Using factfinder.census.gov, find some demographic information on Columbia, MD • What is distinctive about Columbia in comparison to the US as a whole?

  26. Try It • Go to My Best Segments - Claritas PRIZM– link on Cook Library Marketing Subject Gateway • What are some of the tapestry types represented in Columbia, MD? Zip code – 21046.

  27. Market Research Sources • Mediamark – library databaseProduct user info, with demographics & media usage [geo > region] • Simmons – CD-ROM @ libraryProduct user info, with demographics & psychographics [geo > state] • SRDSLocal Market Analyst -- library databaseDemographics and psychographics [geo > DMA]

  28. SRDS • Market > Learn Lifestyles & Demographics • Lifestyle > Learn where the markets are • Tables & mapping • http://www.srds.com • Password required – contact Shana at sgass@towson.edu • Don’t leave this source until last moment – next user can bump you!

  29. Mediamark • Register for free account using TU email address • How to get into MediamarkLibrary website > Subject Gateways > Marketing > Mediamark 1. Sign in with TU email & password for your account. Click on link in verification email to complete account. 2. Click this button! 3. Accept Agreement. Choose a Report Volume (probably Fall Product 2008) by doubleclicking. Search by keyword or browse to find product.

  30. Clue: Index. 100 = average Look for numbers over 100 for your best customers!

  31. Mediamark Tutorial By Carrie Bertling, Towson U: http://pages.towson.edu/cbertlin/documents/mri_spring09.ppt

  32. Simmons National Consumer Survey • CD-ROM at Cook Library Reference Desk • Demographics • Product Use • Psychographics • Make an appointment with Shana (sgass@towson.edu) to learn more about this powerful tool !!

  33. Simmons Tutorial By Van Houlson, U. of Minnesota: http://busref.lib.umn.edu/guides/Simmons.ppt

  34. Researching Restaurants Using Cook Library Databases • News – local, national, international for general or “trade” audiences • Research – studies in academic AKA peer-reviewed AKA scholarly journals • Case studies • Advice for practitioners • Opinion pieces

  35. Some (Specialized) Journalsin the Library Databases • Advertising Age • Nation’s Restaurant News • Journal of Foodservice • Restaurant Business • Restaurants and Institutions

  36. Library Databases to Try • Business Source Complete • Factiva • LexisNexis Academic • RDS Business Suite • Plus: Small Business Resource Center • All available from Subject Gateway for Marketing • http://cooklibrary.towson.edu/marketing

  37. Try It! • How is the recession affecting restaurants? • Are some types of restaurants doing better than others? • What are some recommended strategies for restaurants for marketing during the recession? Be ready to report your preliminary findings (with source)

  38. Secondary Data Books in the Library • Following are some sample questions/tips for some of the secondary-data intensive BOOKS we have in Cook Library • Most of these are in Reserve; others in Reference (use in library) • Call numbers are on the Cook Library Guide to Marketing Secondary Data: http://pages.towson.edu/sgass/guides/mktg_secondary_data_sources.pdf

  39. Best Customers(in reserves) • Which target markets might be the best for Café de Paris? • Any trends for this market worth noting? • How much does the average household spend on the relevant service?

  40. Household Spending(in reserves) • What activity included in the book is the closest match for Café de Paris? • Which age group spends the most on dining out – total? • Which age group spends the most on dining out – on average?

  41. Community Sourcebook of zipcode demographics(in Reserves) • The zip code for Columbia, MD is 21046 • How does Columbia’s Spending Potential Index compare to other towns in MD? • Spending Potential Index is explained on introductory page xvii)

  42. Demographics USA(in Reserves) • The zip code for Columbia, MD is 21046 • Find the Consumer Buying Power for Columbia with regard the relevant spending category for dining out. • Consumer Buying Power is explained in section 1, page 10).

  43. Community Sourcebook of Zip Code Demographics (in reserves) • Find a zip code in Maryland which has a particularly high “Spending Potential Index” for Dine Out/Carry Out. • What is a Spending Potential Index? (explained on introductory page xvii)

  44. American Women(in Reference) • Let’s say Olive Garden wants to improve their marketing to women. • What are some things they should keep in mind for marketing to this population?

  45. Racial & Ethnic Diversity(in Reference) • Let’s say Olive Garden wants to finetune their marketing to different ethnicities. • What are some things they should keep in mind?

  46. Millennials(in Reserves) • Who are the Millennials? How is this label useful to marketers? • Let’s say Café de Paris is going to target Millennials. What are some good things to know about them that might affect your marketing?

  47. Baby Boom(in Reserves) • What does “baby boom” mean? How is this label useful to marketers? • Let’s say Café de Paris decides to target Baby Boomers. What are some good things to know about them that might affect your marketing?

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