Antonio Banos M.Ed. Bell Ringer: ….

Antonio Banos M.Ed. Research

Antonio Banos M.Ed. Why is RESEARCH imperative ?

Antonio Banos M.Ed. Primary Research vs. Secondary Research

Antonio Banos M.Ed. Secondary Research - Secondary research is based on information from studies previously performed by government agencies, chambers of commerce, trade associations, and other organizations. For example, U.S. Census Bureau information and Nielsen ratings are secondary market research. Pros – easy and inexpensive Cons – not always reliable and not customizable

Antonio Banos M.Ed. Primary Research - It is tailored to a company’s particular needs and is conducted either by you or by a company that you pay to conduct the research for you. Focus groups Surveys Questionnaires Field tests Interviews Observation Pros – customized to specific needs Cons – expensive and time consuming

Antonio Banos M.Ed. Methods of Research? Qualitative Quantitative Sampling Methods? Random Sampling Cluster Sampling Systematic Sampling Quota Sampling Accidental Sampling Panel Sampling Stratified Sampling **We will explore this more in depth during customer analysis**

Antonio Banos M.Ed. Industry Analysis

Antonio Banos M.Ed. Industry Analysis MARKETING PLAN

Antonio Banos M.Ed. Key Terms to Know  Sector: (economic) is the broad area of the economy in which your client/company will operate  Industry: it could be thought of as those companies providing similar, complementary, or substitute products and services as yours. It is a narrowed classification of companies within a particular economic sector  Industry Sector: a narrow classification of companies within a particular economic sector  Barriers to Entry: are any factors that make it difficult for new competitors to enter an industry or market  Product Life Cycle: The concept that many products go through a cycle; that is, they are introduced, grow, mature, and decline. While the cycle varies according to industry, product, technology and market, it is a valuable aid in developing product and marketing strategies.

Antonio Banos M.Ed. Industry Analysis Sector vs. Industry This difference pertains to their scope; a sector refers to a large segment of the economy, while the term industry describes a much more specific group of companies or businesses. sector vs. industry

Antonio Banos M.Ed. Industry Analysis Sector (Economic) A sector is one of a few general segments in the economy within which a large group of companies can be categorized. An economy can be broken down into about a dozen sectors, which can describe nearly all of the business activity in that economy. Sector

Antonio Banos M.Ed. Industry Analysis Basic Materials » Cons. Non-Cyclicals » Consumer Cyclicals » Energy » Financials » Healthcare » Industrials » Technology » Telecommunications » Utilities » Sectors

Antonio Banos M.Ed. Industry Analysis The Cyclical Consumer Goods & Services The Cyclical Consumer Goods & Services economic sector consists of companies engaged in the production of automobiles, homebuilding, household goods, textiles, apparel & accessories, as well as hotel, casino, leisure, media and retail operations and services. Sector

Antonio Banos M.Ed. Industry Analysis Industry An industry, on the other hand, describes a much more specific grouping of companies with highly similar business activities. Essentially, industries are created by further breaking down sectors into more defined groupings. Each of the dozen or so sectors will have a varying number of industries, but it can be in the hundreds. Industry

Antonio Banos M.Ed. Industry Analysis Apparel & Accessories Industry The Apparel & Accessories industry consists of companies engaged in the manufacturing of clothing, such as men, women and children's clothing, uniforms, jackets, hats, socks, gloves, robes, hosiery and swim suits. The industry also includes accessories, such as handbags, attach cases, umbrellas, cosmetic bags, jewelry, watches, luggage, dog collars and leashes. The Apparel & Accessories industry excludes shoes, sneakers and slippers, classified in Footwear. Industry

Antonio Banos M.Ed. Porter’s Five Forces Analysis The framework for the Five Forces Analysis consists of these competitive forces:  Industry rivalry (degree of competition among existing firms)—intense competition leads to reduced profit potential for companies in the same industry  Threat of substitutes (products or services)—availability of substitute products will limit your ability to raise prices  Bargaining power of buyers —powerful buyers have a significant impact on prices  Bargaining power of suppliers —powerful suppliers can demand premium prices and limit your profit  Barriers to entry (threat of new entrants)—act as a deterrent against new competitors

Antonio Banos M.Ed. Industry Analysis Step 1: Give a brief overview of the industry. Define the industry in terms of size, historical background, the geographic area it services, and the products it offers. Step 2: Review trends and growth patterns that have existed within the industry. Step 3: Identify factors that influence the industry. These might include government regulatory policies and competitive practices of other businesses. Step 4: Using data gathered through research, forecast anticipated growth of the industry. The predictions should be both long- and short-term. Step 5: Describe how your company/client will position itself (or is already positioned) within the industry. Focus on how your company can take advantage opportunities identified within the industry. Steps

Antonio Banos M.Ed. Industry Analysis Use all of the following subheadings within the Industry Analysis (followed by sufficient and well cited analysis): Industry Size and Growth Trends Maturity of the Industry External Economic Factors and their Effect on the Industry Seasonality Technological Factors Regulatory, Political, and Legal Concerns Competitive Environment and Changes in the Competitive Environment Steps