Several key factors must be considered as you analyze your industry:
* Geographic Area – local?, regional?, statewide?, national?, international?
* Industry – size, trends, outlook
* Product
* Buyers – target customers
* Regulatory Environment
* Company Information – identify and research most successful businesses
Identify the industry
Determine the Standard Industrial Classification (SIC) Code and/or NAICS Code.
Industry Overview
Include:
* A brief history
* Factors that affect growth
* Government regulations
* Leading businesses in the industry
* A brief history
* Factors that affect growth
* Government regulations
* Leading businesses in the industry
Library Resources:
* Standard & Poor's Industry Surveys
* US Industry & Trade Outlook
* Encyclopedia of Emerging Industries, Gale Research
* Encyclopedia of American Industries, Gale Research
Internet Resources (free or for purchase):
* Trade Associations – Find appropriate associations in: Encyclopedia of Associations
or a general Internet search)
* Hoover's Online (www.hoovers.com) – Companies and Industries Section
* MarketReseach.com (www.marketresearch.com) – Retailer of private market
research reports
* Standard & Poor's Industry Surveys
* US Industry & Trade Outlook
* Encyclopedia of Emerging Industries, Gale Research
* Encyclopedia of American Industries, Gale Research
Internet Resources (free or for purchase):
* Trade Associations – Find appropriate associations in: Encyclopedia of Associations
or a general Internet search)
* Hoover's Online (www.hoovers.com) – Companies and Industries Section
* MarketReseach.com (www.marketresearch.com) – Retailer of private market
research reports
Include:
* Estimated size of the industry – Dollars? Products/Services sold?
* Establish trends in sales over recent years
* Determine current operational/management trends within the industry?
* What types of marketing strategies are prevalent within the industry?
* Is the industry seasonal?
* Is the industry sensitive to economic fluctuations?
* Estimated size of the industry – Dollars? Products/Services sold?
* Establish trends in sales over recent years
* Determine current operational/management trends within the industry?
* What types of marketing strategies are prevalent within the industry?
* Is the industry seasonal?
* Is the industry sensitive to economic fluctuations?
Library Resources:
* Standard & Poor's Industry Surveys
* US Industry & Trade Outlook
* Encyclopedia of Emerging Industries, Gale Research
* Encyclopedia of American Industries, Gale Research
Internet Resources (free or for purchase):
* Trade Associations – There may be more than one per industry
Note: Ask specific questions, e.g., “How large is the textile market in
North Carolina in terms of dollars?” or “Do you have a list of food distributors
available for the Southeast?”
* ZapData – Dun & Bradstreet offers free statistical industry data on their website
www.zapdata.com. Free registration is required.
* BizStats – www.bizstats.com
* SBDCnet – www.sbdcnet.org
* Hoover's Online (www.hoovers.com/) – Companies and Industries Section
* MarketReseach.com (www.marketresearch.com) – Retailer of private market
research reports
* Standard & Poor's Industry Surveys
* US Industry & Trade Outlook
* Encyclopedia of Emerging Industries, Gale Research
* Encyclopedia of American Industries, Gale Research
Internet Resources (free or for purchase):
* Trade Associations – There may be more than one per industry
Note: Ask specific questions, e.g., “How large is the textile market in
North Carolina in terms of dollars?” or “Do you have a list of food distributors
available for the Southeast?”
* ZapData – Dun & Bradstreet offers free statistical industry data on their website
www.zapdata.com. Free registration is required.
* BizStats – www.bizstats.com
* SBDCnet – www.sbdcnet.org
* Hoover's Online (www.hoovers.com/) – Companies and Industries Section
* MarketReseach.com (www.marketresearch.com) – Retailer of private market
research reports
Industry Developments, News, Innovations, and Government Regulations
Resources:
* Literature searches of newspapers, journals, and magazines – Local library publications and
online databases (NCLive, Dow Jones Interactive, InfoTrac).
* Trade associations and industry magazines – Connect through association websites
* Better Business Bureau (www.bbb.org)
* Library of Congress’s Legislative Information (http://thomas.loc.gov/)
* North Carolina General Assembly (www.ncleg.net)
Industry Developments, News, Innovations, and Government Regulations
How to Conduct an Industry Analysis
Small Business and Technology Development Center | www.sbtdc.org Page 3 of 4
* Literature searches of newspapers, journals, and magazines – Local library publications and
online databases (NCLive, Dow Jones Interactive, InfoTrac).
* Trade associations and industry magazines – Connect through association websites
* Better Business Bureau (www.bbb.org)
* Library of Congress’s Legislative Information (http://thomas.loc.gov/)
* North Carolina General Assembly (www.ncleg.net)
Industry Developments, News, Innovations, and Government Regulations
How to Conduct an Industry Analysis
Small Business and Technology Development Center | www.sbtdc.org Page 3 of 4
Consumer Market Data
Include:
* Demographics – Population/household size, median income, age, sex, race, ethnicity, family
status, housing status, etc.
* Psychographics – Lifestyle information, tastes, preferences, and buying habits
Library Resources:
* Lifestyle Market Analyst, SRDC – used for collecting psychographic data
* Demographics USA County or Zip Code editions, VNU Publishing
Internet Resources (free or for purchase):
* Bureau of the Census web site: www.census.gov
* ESRI – Has free demographic data available by zip code on their website,
http://www.esri.com/data/esri_data/demographic.html
* EASI (www.easidemographics.com) will give estimated demographic statistics
within a user-specified radii for any address
* For psychographic information and analysis of zip code areas, use Claritas’ website:
http://www.claritas.com/MyBestSegments/Default.jsp
* Demographics – Population/household size, median income, age, sex, race, ethnicity, family
status, housing status, etc.
* Psychographics – Lifestyle information, tastes, preferences, and buying habits
Library Resources:
* Lifestyle Market Analyst, SRDC – used for collecting psychographic data
* Demographics USA County or Zip Code editions, VNU Publishing
Internet Resources (free or for purchase):
* Bureau of the Census web site: www.census.gov
* ESRI – Has free demographic data available by zip code on their website,
http://www.esri.com/data/esri_data/demographic.html
* EASI (www.easidemographics.com) will give estimated demographic statistics
within a user-specified radii for any address
* For psychographic information and analysis of zip code areas, use Claritas’ website:
http://www.claritas.com/MyBestSegments/Default.jsp
Competitor information
Include:
* Who are the major businesses in the industry?
* Where are they located?
* How long have they been in business?
* What is their market share?
* Who are the major businesses in the industry?
* Where are they located?
* How long have they been in business?
* What is their market share?
Library Resources:
* North Carolina Business Directory
* Encyclopedia of American Industries, Gale Research
* Harris InfoSource Business Directory
Internet Resources (free or for purchase):
* Trade Associations
* Securities Exchange Commission (for research on public companies) –
www.sec.gov/edgarhp.htm
* ReferenceUSA (subscription-based service for libraries and government agencies – See
their parent company site, InfoUSA at http://home.infousa.com/)
* NC Employment Security Commission’s WebSARAS site (www.websaras.org) –
Go to the ‘Employers’ link to find information on North Carolina Companies
* Dun & Bradstreet’s Zapdata (www.zapdata.com)
* Hoover’s Online (www.hoovers.com)
* Thomas Register (www.thomasnet.com), Thomas Regional
(thomasregional.com), or Thomas Global Register (www.tgrnet.com)
– Free registration is first required
* Search company websites for more information on their business.
* North Carolina Business Directory
* Encyclopedia of American Industries, Gale Research
* Harris InfoSource Business Directory
Internet Resources (free or for purchase):
* Trade Associations
* Securities Exchange Commission (for research on public companies) –
www.sec.gov/edgarhp.htm
* ReferenceUSA (subscription-based service for libraries and government agencies – See
their parent company site, InfoUSA at http://home.infousa.com/)
* NC Employment Security Commission’s WebSARAS site (www.websaras.org) –
Go to the ‘Employers’ link to find information on North Carolina Companies
* Dun & Bradstreet’s Zapdata (www.zapdata.com)
* Hoover’s Online (www.hoovers.com)
* Thomas Register (www.thomasnet.com), Thomas Regional
(thomasregional.com), or Thomas Global Register (www.tgrnet.com)
– Free registration is first required
* Search company websites for more information on their business.
Leads and Other Information on the Internet
Perform a search in a search engine such as Google (www.google.com), Search.com
(www.search.com), or Dogpile (www.dogpile.com). Use common industry jargon and/or
search to see if the identified trade associations have web sites. Use quotes around a multi-word phrase when searching, to ensure that it will be treated as one phrase instead of two/several words. Many times the most commonly asked questions about an industry will be published online.
(www.search.com), or Dogpile (www.dogpile.com). Use common industry jargon and/or
search to see if the identified trade associations have web sites. Use quotes around a multi-word phrase when searching, to ensure that it will be treated as one phrase instead of two/several words. Many times the most commonly asked questions about an industry will be published online.
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