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SECONDARY MARKET RESEARCH

SECONDARY MARKET RESEARCH. FINDING INFORMATION ABOUT CONSUMERS, FIRMS, INDUSTRIES, AND ENVIRONMENT. Market Research. Two types of market research Secondary: Use of existing information compiled by someone else or generated from internal records (e.g., billing statements, shipping records)

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SECONDARY MARKET RESEARCH

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  1. SECONDARY MARKET RESEARCH FINDING INFORMATION ABOUT CONSUMERS, FIRMS, INDUSTRIES, AND ENVIRONMENT

  2. Market Research • Two types of market research • Secondary: Use of existing information compiled by someone else or generated from internal records (e.g., billing statements, shipping records) • Primary research: Research performed expressly to obtain information on customers and markets (e.g., surveys, experiments, focus groups) • Secondary sources may not have sufficiently current and/or specific information. However, when these sources are available: • Costs are usually much lower • Information can be accessed much quickly

  3. Some sources of secondary data: • Internal records/information system • Trade journals, magazines, and newspapers • Each industry usually has one or more trade journals—publications dealing with issues specific to this industry (e.g., Women’s Wear Daily, Air Cargo World, Ice Cream Reporter) • General business publications—e.g., Wall Street Journal, Business Week, Financial Times • General newspapers and magazines may address relevant issues • Reviews in consumer magazines of relevant product categories • Government documents • Compilations/reports (e.g., Economist Intelligence Unit reports on specific countries) • Other data bases (e.g., Hoover’s, Business & Company Resource Center)

  4. Logging into the Crocker Library Database System, Part 1

  5. Logging into the Crocker Library Database System, Part 2

  6. Logging into the Crocker Library Database System, Part 3

  7. Logging into the Crocker Library Database System, Part 4

  8. ABI/Inform: Periodical Search for Articles

  9. Boolean Logic

  10. AND: Both conditions have to be true ICE CREAM AND CARBOHYDRATE

  11. OR: One or both conditions must be true DESSERT OR SNACK

  12. AND NOT: The first but NOT the second condition must be true PRICING AND NOT FINANCE

  13. The Search Form Note: In specifying searches, less is often more. You should avoid extraneous words that may have synonyms.

  14. Other Search Types • Location (country or region) • Product name (but not company name) • NAICS code (see below) • Person name (e.g., the name of a company CEO)

  15. Search Results

  16. Listings

  17. Subject Terms

  18. “Snow Balling”: Using article records to find additional relevant articles

  19. Lexis-Nexis: Another Periodical Database

  20. Searching in Lexis-Nexis

  21. Specifying a Lexis-Nexis Search

  22. Google News

  23. Industry Information: NAICS codes • Taxonomy of North American industry structure • Technically only for U.S., Canada, and Mexico but used internationally • Hierarchical structure—the more digits, the more specific the industry • Each six digit code may still cover a very wide range of products/services

  24. Hierarchical Structure of NAICS Codes

  25. Wide Span of Each NAICS Code

  26. Finding NAICS codes on the U.S. Census Bureau Web Site This site is usually the first one that will show up if you Google the term “NAICS.”

  27. NAICS Search Results

  28. Industry Information: Business & Company Resource Center

  29. Industry Information on Business & Company Resource Center

  30. Industry Reports

  31. Company Information

  32. Company Listings

  33. Company Listings

  34. Business Insights: Essentials

  35. Business Insights: EssentialsSample Listing for NAICS 325620

  36. Finding Books • The USC Libraries have the HOMER database of books • However, Amazon.com may provide a more useful list: • Collaborative filtering: Comparison to what others who bought particular books bought • Expanded search algorithms to identify related topics • In the second phase, HOMER can help retrieve those books we have in stock

  37. Currency of Information • Information on some topics becomes obsolete more quickly than others—e.g., • China, Russia, India, Thailand • Internet, IT • Oil, airlines (highly cyclical)

  38. Closing Words • The only way to learn these searches is actual practice • For many projects, you will need to search more broadly, possibly in related industries

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