Business Research 101 Industry research

Class Basics Where to find class materials & workbook: BR101 Libguide http://guides.lib.fsu.edu/br101

Market Research = Customer Research Who is the customer….. Consumer Single decision maker Voice of the customer Explores attitudes, needs, motivations, and behaviors as it relates to the product or service Made up of demographic, psychographic, cultural and behavioral characteristics Industrial Multiple decision makers: users, gatekeepers, influencers, deciders, and buyers Define the market and segments as completely as possible Market Tree your industry and target segments by quantifiable characteristics, defining qualifiers and compatibility with existing industry standards

Customer Research Serves as the Voice of the Consumer Customer Attributes Customer Research Serves as the Voice of the Consumer (exploring customer attitudes, needs, motivations, and behavior as it relates to a product or service) Buying Habits Income Special Interests Occupation Physical Handicaps Sex Own or Rent a Home Age Eating Habits Race Do-It-Yourself Type Education Home Ownership • Leisure Time Activities Area of Residence Vacation Activities Hobbies Age and Type of Car Skills Household Pets Religion Marital Status Number of Children Age of Home Health Electronics use

Industrial Customers Industrial (buy your product for production) Reseller (buy your product to resell for profit) Demographic Geographic location Size of Company Annual revenue Number of Branches Number of Employees Industry Age of Company Product Costs Part Tradeoff Where Manufactured Service vs. Reliability Psychographic Business Style Industry Leader/Laggard Business Stage Innovative/ Conservative Employee Relations Political Trade Associations Socially Responsible Business Products/Stable of Products Services Used Publication Subscriptions Workforce Type Management Style

Market Research Databases IBISWorld BCC Research Gartner Higher Education Reference Mintel SMA: Sports Market Analytics WGSN Business Source Complete

Demographics - Consumer Census American FactFinder Proquest Statistical Insight – (US Statistical Abstract ) American Community Survey Bureau of Labor Statistics Consumer Expenditure Survey Wages by Area and Occupation American Time Use Survey (BLS) Center for Disease Control Data & Stats

Demographics – Industrial Main Sites American FactFinder Economic Census Hoover’s Academic Forecasts & Projections Employment Projections   Monthly Labor Review (journal) Bureau of Labor Statistics Projections State Occupational Projections 

Demographics – Specific Industry Medical Consumer : Center for Disease Control Corporate: Food & Drug Administration Food Consumer: Consumer Expenditure Survey Corporate: U.S. Department of Agriculture Aviation Consumer: Office of Travel & Tourism Industries Corporate: Federal Aviation Administration

Demographics – Corporate Census Census Business Builder Census Characteristics (Business & Industry) Macroeconomic Overviews Fed’s Beige Book – (Summary of Commentary on Current Economic Conditions) Economy.com (or this) Bureau of Economic Analysis – EconomicIndicators.gov FedStats.usa.gov

Segmentation Research: Psychographics DemographicsNow University Reporter Nielsen PRIZM ZIP Code Look-up Tool ESRI Tapestry Segmentation Additional Resources to Keep Your Eyes Open For GMID SimplyMap ArcGIS

Demographics – Local Data Census Data: Tallahassee city, Florida QuickLinks Florida Legislature - Office of Economic & Demographic Research Florida Trend's Economic Yearbook City of Tallahassee Office of Economic Vitality Statistical Data Tallahassee Democrat Data UrbanTallahassee 850 Magazine University Office of Institutional Research FSU - Office of Institutional Research   FAMU - Office of Institutional Research   TCC - Office of Institutional Research and Planning 

Statistical Databases DemographicsNow Social Explorer (only 1 user) Proquest Statistical Insight PSYCHINFO (articles and outcomes)

Additional Marketing Resources Business Source Complete Gale Directory Library (Encyclopedia of Associations) Associations Unlimited (Gale Databases) Encyclopedia of Major Marketing Campaigns

Templates Marketing Plan Outline Gathering Market Research (Edward Lowe Foundation) How to Identify a Target Market and Prepare a Customer Profile (Edward Lowe Foundation) Defining & Serving a Market (Edward Lowe Foundation) SWOT (Strengths, Weaknesses, Opportunities, Threats) Template PEST (Political, Economic, Social and Technological) Template Porter’s Five Forces review