Question 5: What is Your Market? - Business Administration 166 - Advertising - Cardona

Market Research

Market research is the systematic collection and analysis of data on the size of a market, consumer behavior and preferences, the extent to which current products meet consumer expectations, and social trends that might impact sales.” (From the AMA dictionary of business and management. New York, NY: AMACOM, Publishing, 2013). Market research looks at consumers; what they buy, who they are, which companies they buy from, etc.

Who needs market research? Any business or organization which plans to launch a new product or service. Market research helps a company define its target market and refine its offerings to meet the customer’s needs.

Market Research general data categories:

Primary data is collected directly through interviews, focus groups, surveys, observation, etc. by marketing firms hired to do primary research for a company or organization.
Secondary data is data which has been collected by someone else. This includes market research reports from commercial publishers and data from government or trade associations. Published market research reports are very costly, and often include data with industry overviews, market size, market share, trends, consumers, etc.

Adapted from NYPL Market Research Guide.

Starting Points for Market Research:

Use your product or industry with keywords like: brand choice, consumer research, marketing strategy, brand loyalty, customer loyalty, product acceptance, brand preferences, market* research, product choice, consumer attitudes, product introduction, consumer behavior, market strategy, target markets
If you can't pinpoint a product or industry, try looking up a company that is similar and see what industries it is in.
When looking for data, consider who might collect that information: Government agencies? Industry associations? Research centers?

First Research Industry Profiles in ABI/Inform Complete
In the “Search within this Publication” field, enter in keywords for your industry or the NAICS Code, This will produce a list of First Research Industry Reports on your industry. To get more specific add keywords (e.g.: “Restaurant” and “fast food”).

ABI/INFORM Collection
Business Source Elite
Search using keywords combined with your product or industry. E.G. athletic shoes AND "brand choice".

From LOC and UNC LibGuide.

Consumer Behavior Resources

ABI/INFORM Collection
Use the search box with the factor you are looking for AND your product or product category to find out about influences.
For example: vaping AND interpersonal to find out about how consumers think of vaping based on personal relationships.
Psychology Database (ProQuest)
Use the search box with the factor you are looking for AND your product or product category to find out about influences.
For example: smoking AND (cultural influence) to learn about cigarette marketing from a cultural standpoint.

Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior
Use "Search Within This Publication" box for factors by keyword. For example: interpersonal, cultural, organizational, etc.
American Time Use Survey (ATUS)
The American Time Use Survey (ATUS) measures the amount of time people spend doing various activities, such as paid work, childcare, volunteering, and socializing.
Topics via Pew Research Center
Browse trends and attitudes by topic or use the search box for product or industry information by keyword.
Data from BLS Consumer Expenditure Survey
Search consumer group AND product to find data about consumer buying.
For example: women AND vaping
Consumer Surveys - Charts by University of Michigan
Review chart topics for consumer surveys. View also tables in navigation menu. Survey data comes from a simple random sample selected from a list of all possible cell telephone numbers in the 48 coterminous States and the District of Columbia to yield a sample that is nationally representative.

Adapted from UC Boulder LibGuide.