Business Research @ Your Library Amy J. Lee Business Resource Coordinator Canton Public Library.
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Transcript of Business Research @ Your Library Amy J. Lee Business Resource Coordinator Canton Public Library.
![Page 1: Business Research @ Your Library Amy J. Lee Business Resource Coordinator Canton Public Library.](https://reader035.fdocuments.us/reader035/viewer/2022062807/5697c0071a28abf838cc63e8/html5/thumbnails/1.jpg)
Business Research @ Your Library
Amy J. LeeBusiness Resource Coordinator
Canton Public Library
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What Is Your Target Market?
Identify Your IndustryIdentify Your CompetitorsIdentify Your Competitor’s CustomersIdentify a Site For Your Business
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Identify Your Industry
Use Reference USA’s Custom Search to look for the NAICS code (North American Industry Classification System) in your
industry or go to http://www.census.gov/eos/www/naics/ Having trouble finding your code? Look up the name of a
known competitor.
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Identify Your Competitors
After identifying your industry, identify the competition in your area
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Identify the Location of Your Competitors
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Locating Competitors
Use the geography field to target cities, zip codes or metro areas
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Locating Competitors
Use the mapping option to search by zip code
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Locating Competitors
Use the ‘Define Radius’ option to search a target area
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Competitor Characteristicstarget companies
Identifying an industry and location will provide a list of target companies
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Competitor Characteristics
Things to look for:LocationBusiness SizeSales Volume
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Competitor Characteristics
Locate key info
here!
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Competitor Demographics
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Competitor’s Customers
Information Needed:
– What type of people are they trying to attract?– Hobbies, spending habits, etc.– Overall lifestyle traits– Other psychographics
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Psychographics
Psychographics are characteristics about groups of people, including their consumer lifestyle,
specifically for market research.
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Psychographic Characteristics
Use Demographic Detail Comparison information to look at Census information
and compare different geographies.
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Mosaic Information
Use the Mosaic Population Comparison to view the most common ‘Mosaic’ types in
DemographicsNow
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Mosaic Example
• Mosaic is a consumer segmentation tool that describes American Consumers.
• It is a household-based segmentation system that classifies all U.S. households and neighborhoods in 71 Unique Mosaic types and 12 groupings that share similar demographic and socioeconomic characteristics.
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Choose ‘Create Custom Locations(s)’from the drop down menu under the
Demographics tab.
Site Prospecting
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Add points by typing in addresses of potential locations
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Use the Comparison menu to choose information regarding several categories of
statistics and demographics
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Retail Sales Potential Comparison is a helpful category for site comparison
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DemographicsNow will give demographic comparisons of specified categories for 1,3, and 5 mile ranges from the chosen points (you can also choose drive times).
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Map the variables by choosing the Maps tab
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Choose the desired variables
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Choose the ‘Thematic Layer’ option to view the map with a color key