Market Research Definition: 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 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.
American Time Use Survey (ATUS) measures the amount of time people spend doing various activities, such as paid work, childcare, volunteering, and socializing.
BizStats home of free, accurate business statistics
Consumer Expenditure Survey (BLS) provides information on the buying habits of American consumers, including data on their expenditures, income, and consumer unit (families and single consumers) characteristics.
Google Trends compares search volume patterns for various keywords and filter results by date, categories, and regions to view trending data.
Industry Information Resources The resource guides listed below provide sources for industry information, research, and analysis for more than 400 industries. Individual guides for each of these industries identify resources available from trade associations, research firms, and other sources, with resource categories referenced in these guides including industry analysis, statistics, trends, and forecasts, financial statements and financial ratios, compensation and salary surveys, and business valuation resources.
Pew Research Center conducts public opinion polling, demographic research, media content analysis and other empirical social science research.
Statista statistics website that offers free and paid access to more than 60k topics from 21 market segments. Statista provides insights on business, media, financials, consumer behavior and more.
Stats America statistics on economy, education, population, housing, workforce and many other topics at various geographic levels.
Wages by Area and Location (BLS) Wage and occupation data at national, regional, state, and metropolitan area levels from Bureau of Labor Statistics.
American Customer Satisfaction Index. Analyzes customer satisfaction for 10 economic sectors and more than 40 key industries.
American Time Use Survey. U.S. Bureau of Labor Statistics. Measures the amount of time people spend doing various activities, such as paid work, childcare, volunteering, and socializing.
CensusScope. An easy-to-use tool for investigating U.S. demographic trends from the Social Science Data Analysis Network (SSDAN) at the University of Michigan. Designed for generalists and specialists, it includes charts, maps, and ranking for national, state, metro, and county data from the 2010 census and earlier.
City-Data.com. Provides profiles of U.S. cities with population, income, race, education, and housing statistics.
Consumer Expenditure Survey. U.S. Bureau of Labor Statistics. Provides information on the buying habits of American consumers, including data on their expenditures, income, and consumer unit (families and single consumers) characteristics.
data.census.gov. U.S. Census Bureau platform that provides data on the U.S. people and economy: population, education, business, employment, health, housing, income and poverty, economy, families and living arrangements, and international trade..
Pew Social & Demographic Trends. Studies behaviors and attitudes of Americans in key areas of their lives, including family, community, health, finance, work and leisure.
Population Reference Bureau. U.S. population issues, trends, and statistics, in graphics and text, are presented in an easy-to-use format. Topics include marriage and family, population estimates and projections, education, race and ethnicity, income and poverty, migration, foreign-born population, children, older population, fertility, labor force and employment, and mortality.
STATSAmerica. Provides demographic statistics for states, counties and metropolitan areas.
Storytelling and Market Research by
Showing how market researchers can get a seat at the decision-making table, this book is the essential guide to mastering storytelling techniques that can dramatically enhance the impact of research reports and presentations, commanding full audience engagement and buy-in. While demand for storytelling in marketing research reports and presentations has mushroomed in recent years, there can be confusion about what decision-makers mean by'stories.'Leading market research expert C. Frederic John eliminates this confusion by defining four specific types of story in the business arena, and providing a series of'how-to'guides for generating effective solutions when communicating learning and other information. This book is the first to emphasize the needs of the report reader or presentation audience. Drawing on examples from ancient and modern literature, drama, opera, and other arts, this book will help today's (and tomorrow's) market research professionals to thrive in a world demanding insights, real-world recommendations, and more relevant deliverables.
Testing Business Ideas by
"There is a large knowledge gap in the market today between business strategy and experimentation. People resort to reading growth hacker blogs or going to meetups or eventually asking consultants for help. This book contains a library of techniques and specific guidance on how to rapidly test new business ideas in the market with customers, using the world renowned Business Model Canvas. The book has three parts. The first explains how Lean Experiments dramatically reduce risk and increase the likelihood of success for any new business idea. The second part introduces Assumptions Mapping and an experiment library. The third part defines a series of ceremonies and team configurations to make experimentation a continuous, repeatable process. The book concludes with a challenge to founders and executives on how to encourage an experimentation mindset within their organizations"-- Provided by publisher.
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