marketing 305 : industry analysis research strategies
DESCRIPTION
Marketing 305 : Industry Analysis Research Strategies. Wendy Diamond [email protected] 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 - PowerPoint PPT PresentationTRANSCRIPT
Wendy Diamondw d i a m o nd @ c s uc h i c o . ed u
Business Librarian
Meriam LibraryCSU Chico
March 6, 2012
MARKETING 305 : INDUSTRY ANALYSIS RESEARCH STRATEGIES
Companies & Entrepreneurs
Investors
Government
Journalists
WHO DOES INDUSTRY ANALYSIS?
AND WHY?
To sell with a strategy
To find customers
To test ideas
To find opportunities
To make regulatory policy
To inform the public
To know what competitors know
Terminology is confusing
Each industry is different
Need to consult more than one source
Market information is expensive
Must be current to be valuable
WHY IS INDUSTRY ANALYSIS CHALLENGING?
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
TERMINOLOGY
Product
• It’s the “thing” that is bought & sold
Industry
• What is the stage of production or sales?
IS CEREAL A PRODUCT OR INDUSTRY?
According to NAICS
Growing the cornManufacturing the
flakesDistributing to
supermarketsGrocery chainsServing customers
at your new Cereal Brew Pub (why not?)
I m a g e b y A l i s d a i r M c D i a r m i d, u s e d u n d e r t h e C r e a t i v e C o m m o n s l i c e n s e .
“CEREAL” IS A PRODUCT
Option #1 Option #2
Maybe --- ??‘Non-Analytical Integrated Course Strategy”
NAICS?
North American Industry Classification System
Industry Defi nit ion
NAICS
Is the business related to manufacturing, wholesaling, retailing, or services?
Industry Snapshot
ECONOMIC CENSUSEVERY 5 YEARS
2007 IS LATEST
Economic
Census
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
TERMINOLOGY
Company
Products & Services
Sales
The Industry Environment
Market
CompanyOr
entrepreneur
Wants to Manufacture or provide
Products or
Services
To Sell
Industry Analysis
Real-time & do-it-yourself
Very expensive (!)TIME and therefore $$$ =
Can purchase market research reports Some companies
specialize in primary research (e.g., Mintel)
• 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.
PRIMARY RESEARCH
“Desk”researchIndustry 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
SECONDARY RESEARCH
IBISWorld Industry Definition, Outlook, Products & Markets, Operating
Conditions (regulatory & technology), moreEncyclopedia 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
journalsTrade Associations
Regulatory & technology issues
Government agencies Economic census, regulations, labor unions
SECONDARY SOURCES
INDUSTRY ANALYSIS
• Industry Defi nit ion• 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
• Competit ion? Companies? SWOT?
Marketing 305 Industry Outline
Industry
defined &
analyzed
GrowthMicro
Macro
IBISWorld&Economic Census
DEFINITIONSIZE OF INDUSTRY
Defi nit ionCompetitors
MACRO
Business Source SWOT reports
MACROCOMPETITION
Found at the bottom of the Industry Definition page
IBISWorld
MACROTECH & REGULATORY
IBISWorld
GROWTH
MACROIBISWorld
MICROSUPPLY CHAIN
SEGMENTIBISWorld
IBISWorldOperating Condit ions
MICRO
TECH& REGLABOR
NetAdvantage
GROWTH, MACRO,MICRO
GROWTHNetAdvantageSub Industry
Ency ofAmerican Industries
Ency of Emerging Industries
(ebooks)
HISTORY
Mintel
MICROCUSTOMER
MIntel
DEMOGRAPHIC &SOCIAL TRENDS
MINTEL
http://libguides.csuchico.edu/MKTG305