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MARKET RESEARCH FORFACULTY ENTREPRENEURSHIPUSING THE LIBRARY FOR SECONDARY MARKET RESEARCH
Ilana StonebrakerBusiness Information Specialist Parrish Library
GUIDES.LIB.PURDUE.EDU/ABE691
WHAT MAKES YOUR IDEA DIFFERENT?
guides.lib.purdue.edu/mgmt484
PROVE IT.
guides.lib.purdue.edu/mgmt484
WAYS TO PROVE IT• Find a similar company
that has been successful• Find a new trend• Find a niche in a larger
market• Find where the customer
is• Find an article about an
emerging business practice
• Show that people are invested in the industry
• Find a growing industry• Find an industry without
much competition• Find an industry with weak
competition• Find a new market for an
existing product• Find areas where the
industry is not serving• Create a completely new
market by combining markets
guides.lib.purdue.edu/mgmt484
SECONDARY MARKET RESEARCH TYPESExisting SurveysMarket Research ReportsIndustry ReportsBusiness NewsCompetitive LandscapeGovernment Sources
guides.lib.purdue.edu/ABE691
SECONDARY MARKET RESEARCH TYPESThe primary elements involve:• understanding how the industry operates• what influences it internally: the market• what influences it externally: the
consumers
guides.lib.purdue.edu/ABE691
EXISTING SURVEYS• Information usually a year old• Taken from primary research and usually
aggregated• Mostly consumer based
guides.lib.purdue.edu/ABE691
EXISTING SURVEYS
• Census, Pew, Time-use studies• Bizminer• Mediamark Reporter• SimplyMap• Business Analyst Online ESRI
guides.lib.purdue.edu/ABE691
UNDERSTANDING THE MARKET
UNDERSTANDING THE MARKET A SIMILAR MARKET
MARKET RESEARCH REPORTS
Frost and SullivanBCC ResearchMarket Research.com
Academic
guides.lib.purdue.edu/ABE691
INDUSTRY REPORTS
Determine the major and minor factors affecting the industry.
• Industry news & innovations• Economic conditions & influences• Government regulation
guides.lib.purdue.edu/ABE691
TYPES OF INDUSTRY ANALYSISPorter's 5 ForcesPEST/PESTLE AnalysisValue Chain AnalysisFour Corners ModelBlindspots AnalysisFinancial Ratio Analysis...and many more.
guides.lib.purdue.edu/ABE691
INDUSTRY REPORTS
IBISworldStandard and Poor’s Net AdvantagePlunketts
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NEWS DATABASES
• Good for industry information• Forrester• ABInform• Consider the trade publication in
your product’s field rather than your own
guides.lib.purdue.edu/ABE691
COMPETITIVE LANDSCAPE
What are competitors doing?What is affecting the industry?Are there geographic factors to consider?What technology is having an impact?
COMPETITION
• Illuminate the major players and how the industry impacts their strategies.
• LexisNexis Company Dossier
guides.lib.purdue.edu/ABE691
GOVERNMENT SOURCES
• Consumer Expenditures Survey• Data.gov• Small Business Administration• White Papers
guides.lib.purdue.edu/ABE691
FIND OUT MOREIlana [email protected](764) 494-6243https://ilana.youcanbook.me
Parrish Library2nd Floor of Krannert Buildinglib.purdue.edu/parrish
We chat.We email.We answer phones.We’re here for you.
guides.lib.purdue.edu/ABE691