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MGMT 103 Business 2T : Business Planning Tools and Practice: Market & Industry Research

https://infoguides.rit.edu/prf.php?account_id=419

Class Video on Resources

Basic Tools Need for Business 2 Project

Introduction to a Few Secondary Data Sources

Information has value. Monetary value. Strategic value.

Knowing about your company, product, industry and customers will help justify strategic choices.

RIT Libraries subscribes to some information products to help current students practice searching for and working with premium information. Below are some of the products that can help with finding premium business information to help make informed decisions and recommendations. Some demographics are not covered at all in market research. When looking for demographics related to disabilities try non-profit and advocacy agencies or government data.

Search Strategy

The overarching themes:

-industry
-specific market of product or service (if available)
-demographics
-news

Limitations

Not all industries, markets and demographics are represented in databases so you work with what you can get and be flexible in adapting what is available. For example: Can't find demographics for people who use the public bus system in Rochester? Find out what demographics you can get for Rochester and surrounding areas. See if you can find national information on public bus systems for public transportation. The look at what you have, think about what it tells you and do some analysis around your specific research goal.

Industry (the big picture aka a macro view)


Market & Demographics (a little more narrow view around who might buy or use a product)


 

News and Trade Magazines (a very, very narrow view about a product, service, trend, customer)

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