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❶The beauty of these prediction markets is that they tend to be good indications of reality.

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If tables don't display properly, try using Internet Explorer browser. Freedonia Reports in ProQuest Enterpeneurship Freedonia reports in this database cover some industrial sectors not covered by Mintel--but reports tend to be older. Although written for investors, NetAdvantage's Industry Surveys can be used for other purposes.

Industry reports provide trend information, how an industry operates, industry statistics, comparative financials of major players, and more information sources. Surveys cover broadly defined industries, but often include valuable info on key sub-industries.

Updated twice a year. Use Industries tab to browse industries OR search for a company profile and follow Industry Survey links on left. Global Searching the Industries section of this database by keyword or NAICS code may get you an industry overview, rankings, market share stats, industry groups, or articles on the industry.

Quality of info is variable--so evaluate critically. Also available via mel. Industry Research Guide You'll find more sources of industry information on this research guide--such as sources for industry ratios, market share, statistics, associations, etc. Full reports are too expensive to buy; however the trends include useful info such as the rate of market growth, forecast of market size, or other statistics.

Use search box to explore. May be able to find statistical charts on your topic. Freedonia Reports on many industries, especially useful for industrial products. Full reports too expensive for students; but report description may offer info such as industry growth forecast. Press releases on site may give some key statistics. Researching Markets A useful approach to researching a market: Use your objectives to determine what information you need to collect, then identify the main sources of the data, either free or paid.

Evaluate the quality and quantity of the information available from the sources you identified. Assess the information you already have that meets your market research objectives.

This could come from customer survey cards you have on hand or some other type of data. Pinpoint the gaps that your market research needs to fill. Rate your business on how much you know about your target customers and the effectiveness of your current marketing efforts, if any.

Explore your financial and customer relationship management systems to identify data that reveals how and when your customers purchase your goods or services. Look for ways to organize existing customer information in meaningful ways, such as by age group or income bracket. Compare the value of primary market research through direct contact with your target customers to secondary research. Review the investment required for primary research, such as focus groups and customer surveys.

Evaluate the usefulness of information compiled from statistics, databases and your industry news sources. Evaluate the cost of your market research needs and determine whether you can accomplish your objectives using free or low-cost methodologies. Just keep in mind that conducting secondary research and online research yourself uses valuable human resources and requires that you allocate time to analyze the data you collect. Consider the total time you want to allocate for collecting, organizing and analyzing the research data.

The amount of time needed to produce useful information varies according to the market research methodology you select. Although market research should be ongoing for any business, it should complement your marketing activities rather than consume your business. Pick one or two promising methodologies that fit your objectives, information needs and budget. Set a time limit for testing them, then evaluate the return on your investment. Review the options and costs for full implementation of effective strategies.

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By AllBusiness Editors | In: Advertising, Marketing & PR While there are many ways to perform market research, most businesses use one or more of five basic methods: surveys, focus groups, personal interviews, observation, and field trials.

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Marketing Strategy Posted on March 1, by John Dudovskiy Regardless of its industry, size or other variables, firm’s marketing strategy needs to be aligned with the overall corporate strategy in order for the firm to be able to grow in long-term perspective.

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Market research is a process by which a business collects and analyzes data in order to make appropriate business decisions. Marketing research can help you discover problems, find solutions, and identify threats and opportunities. We would like to show you a description here but the site won’t allow us.

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Market Research Techniques: Primary and Secondary Market Research Types Of Market Research Techniques. Primary Market Research. One can gather primary data or information through qualitative research methods as well as quantitative research methods. Primary market research is the most common type of a market research . Our Market Research Methodology is a page PDF planning methodology that highlights our premium tool-kit of 31 premium tools & templates (available for downl Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising.