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Marketing 305 : Industry Analysis Research Strategies

Marketing 305 : Industry Analysis Research Strategies. Wendy Diamond wdiamond@csuchico.edu Business Librarian Meriam Library CSU Chico March 6, 2012. Who Does Industry Analysis?. Companies & Entrepreneurs Investors Government Journalists . And Why?. To sell with a strategy

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Marketing 305 : Industry Analysis Research Strategies

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  1. Marketing 305 : Industry Analysis Research Strategies Wendy Diamond wdiamond@csuchico.edu Business Librarian Meriam Library CSU Chico March 6, 2012

  2. Who Does Industry Analysis? • Companies & Entrepreneurs • Investors • Government • Journalists

  3. And Why? • To sell with a strategy • To find customers • To test ideas • To find opportunities • To make regulatory policy • To inform the public

  4. To know what competitors know

  5. Why is industry Analysis challenging? • Terminology is confusing • Each industry is different • Need to consult more than one source • Market information is expensive • Must be current to be valuable

  6. TERMINOLOGY • Products or services = • The Goods, object of all the attention • Markets = • Companies & customers selling& buying • Industries = • Broad sectors of the economy • Impacted by similar constraints, challenges, issues, and opportunities • Defined by the stage or category in production, provision, or sales process • Manufacturing vs Wholesaling vs Retailing vs Service

  7. Is Cereal a Product or Industry?

  8. “CEREAL” is a Product According to NAICS Image by AlisdairMcDiarmid, used under the Creative Commons license. • Growing the corn • Manufacturing the flakes • Distributing to supermarkets • Grocery chains • Serving customers at yournew Cereal Brew Pub(why not?)

  9. NAICS? Option #1 Option #2 Maybe --- ??‘Non-Analytical Integrated Course Strategy” North American Industry Classification System

  10. Is the business related to manufacturing, wholesaling, retailing, or services? NAICS Industry Definition

  11. Economic Censusevery 5 years 2007 is latest Industry Snapshot Economic Census

  12. TERMINOLOGY • Products or services = • The Goods, object of all the attention • Markets = • Companies & customers selling& buying • Industries = • Broad sectors of the economy • Impacted by similar constraints, challenges, issues, and opportunities • Defined by the stage or category in production, provision, or sales process • Manufacturing vs Wholesaling vs Retailing vs Service

  13. The Industry Environment Market

  14. Primary Research • Examples • Questionnaires • Focus groups • Surveys • Observing the # of widgets taken to the cash register • Counting the # of companies in the phone book • User studies • Data mining web sites • Etc. • Real-time & do-it-yourself • Very expensive (!) TIME and therefore $$$ = • Can purchase market research reports • Some companies specialize in primary research (e.g., Mintel)

  15. Secondary Research “Desk”research • Industry Analysis is one of the most important parts of the secondary research process • Published, government, &trade association sources • Not particularly cheap either • Need to know what your competitors know

  16. secondary sources • IBISWorld • Industry Definition, Outlook, Products & Markets, Operating Conditions (regulatory & technology), more • Encyclopedia of American Industries • Background (history & development) • NetAdvantage • Big, public-traded industries • Detailed coverage for economic and other macro-factors • Lists “Industry References” for trade associations and journals • Trade Associations • Regulatory & technology issues • Government agencies • Economic census, regulations, labor unions

  17. Industry Analysis • Industry Definition • Dollar volume, NAICS, international, History, Weather, Geography • Growth ? • Maturity? Cyclical? Seasonal? Steady? • Macro-Environmental factors • Economy, Regulatory, Technological, Social Demographic • Competition, Companies, SWOT • Micro-Environmental factors • Customer, who, where, market segments • Demographics? Targets and segmentation • Competition? Companies? SWOT?

  18. Marketing 305 Industry Outline

  19. DefinitionSize of Industry IBISWorld & Economic Census

  20. Macro Definition Competitors

  21. MacroCompetition Business Source SWOT reports

  22. Found at the bottom of the Industry Definition page MacroTech & Regulatory IBISWorld

  23. Growth IBISWorld

  24. Macro IBISWorld

  25. MicroSupply ChainSegmenT IBISWorld

  26. Micro Tech& RegLabor IBISWorld Operating Conditions

  27. Growth, Macro,Micro NetAdvantage

  28. Growth NetAdvantage Sub Industry

  29. History Ency of American Industries Ency of Emerging Industries (ebooks)

  30. MicroCustomer Mintel

  31. Demographic &Social trends MIntel

  32. Mintel

  33. http://libguides.csuchico.edu/MKTG305

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