CFA 201: The Entrepreneurial Mindset in Communications and Fine Arts Professor Edward Lee Lamoureux, Ph.D. Bradley University College of Communications and Fine Arts CLASS TEN

Market analysis (M in I'MART) M in I'MART, page 18

Market analysis (M in I'MART) This analysis is part of a Feasibility Analysis as presented in the textbook and represented in Appendix 3.1. The material/findings will be helpful in Assignment 5 As a way of answering the 5 questions in the left column of the I’MART market analysis and as part of a Feasibility Study, one looks for data about markets and demographics.

Market Analysis Resources Entrepreneur.com “How to Research Your Market” https://www.entrepreneur.com/article/175276 Montana State U. Extension Service Start Up Feasibility Guide http://www.msuextension.org/publications/BusinessandCommunities/MT199510HR.pdf Small Business Administration: Free small business data and trends https://www.sba.gov/business-guide/plan/market-research-competitive-analysis#researchresources

SBA: small business data and trends hyperlinks provided at SBA page [I did not link each one in the movie] General business statistics Find statistics on industries, business conditions NAICS, FedStats, Statistical Abstract of the United States, U.S. Census Bureau Consumer statistics Gain info on potential customers, consumer markets Consumer Credit Data, Consumer Product Safety Demographics Segment the population for targeting customers American FactFinder, Bureau of Labor Statistics Economic indicators Know unemployment rates, loans granted and more Consumer Price Index, Bureau of Economic Analysis Employment statistics Dig deeper into employment trends for your market Employment and Unemployment Statistics Income statistics Pay your employees fair rates based on earnings data Earnings by Occupation and Education, Income Statistics Money and interest rates Keep money by mastering exchange and interest rates Daily Interest Rates, Money Statistics via Federal Reserve Production and sales statistics Understand demand, costs and consumer spending Consumer Spending, Gross Domestic Product (GDP) Trade statistics Track indicators of sales and market performance Balance of Payments, USA Trade Online Statistics of specific industries Use a wealth of federal agency data on industries NAICS, Statistics of U.S. Businesses

US Census Bureau Search Tools and Data Portals Industry Statistics Portal https://www.census.gov/econ/isp/index.php Census Stats https://www.census.gov/data/data-tools/censtats.html Community Fact Finder https://factfinder.census.gov/faces/nav/jsf/pages/community_facts.xhtml State Data Centers https://www.census.gov/about/partners/sdc.html Economic Census https://www.census.gov/programs-surveys/economic-census.html

For class 11 “5 ways to design your life in 2013” & Design Thinking (.pdf file on Sakai); IBM and design thinking Paper 3 (Anatomy of a CFA-type entrepreneurship) is due Oct. 31.

CFA 201: The Entrepreneurial Mindset in Communications and Fine Arts Professor Edward Lee Lamoureux, Ph.D. Bradley University College of Communications and Fine Arts CLASS TEN