EFFECTIVE BUSINESS RESEARCH TUTORIAL SUMMARY
PART 1: INDUSTRY RESEARCH
Step 1 – Industry Overview
When researching an industry, start with an industry overview and then check a guide for specialized sources. Next search for current articles, then check trade associations for any additional information they may have. Finally if necessary, look for industry ratios and market research reports
Industry Overview Sources:
Encyclopedia of American Industries
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2-3 pages of background on industries, good coverage of trendsStandard & Poor’s Industry Surveys
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2-3 pages of background on industries, good coverage of trendsManufacturing & Distribution USA
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2-3 pages of background on industries, good coverage of trendsStep 2 – Business Research Source Guides
Source guides list research resources by topic. They list almanacs, databases, directories, statistics sources and associations for a particular industry. Using a source guide is an efficient way to quickly identify key resources for an industry.
Business Research Source Guides:
Encyclopedia of Business Information Sources
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2-3 pages of background on industries, good coverage of trendsSmall Business Sourcebook
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2-3 pages of background on industries, good coverage of trendsStep 3 – Industry Articles
After searching for an industry overview and identifying key resources, look for current articles in databases of trade, newspaper and magazine articles.
Industry Article Databases
Business & Industry
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2-3 pages of background on industries, good coverage of trendsGale Group PROMT
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2-3 pages of background on industries, good coverage of trendsGale Group Trade & Industry
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2-3 pages of background on industries, good coverage of trendsEBSCO Business Source Corporate
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2-3 pages of background on industries, good coverage of trends
Other databases with industry articles:
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2-3 pages of background on industries, good coverage of trends
Step 4 – Trade Associations
When conducting comprehensive research of an industry, it’s a good idea to identify the appropriate industry associations and then check their web sites for information.
Association Directories
Encyclopedia of Associations
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2-3 pages of background on industries, good coverage of trends
National Trade & Professional Associations of the US
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2-3 pages of background on industries, good coverage of trends
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Step 5 – Industry Ratios
If you need financial ratios for an industry, try one of these sources.
Industry Ratios Sources
Financial Studies for Small Business
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2-3 pages of background on industries, good coverage of trends
RMA Annual Statement Studies
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D&B Industry Norms and Key Business Ratios
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Step 6 – Market Research Reports
Commercial market research reports generally cost several thousand dollars and are not usually affordable for our clients. Start with these sources.
Market Research Report Sources
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2-3 pages of background on industries, good coverage of trends
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PART 2: COMPANY RESEARCH
Step 1 – Verify Company Information
When researching a specific company, start by verifying basic company information, then check their web site, next look for articles on the company. Finally, if needed, search for financial information.
Company Directories
D&B Million Dollar Directory
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MarketPlace CD or www.zapdata.com or D&B Dun’s Market Identifiers
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2-3 pages of background on industries, good coverage of trends
Sales Leads USA CD or www.InfoUSA.com
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2-3 pages of background on industries, good coverage of trends
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Kompass
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Step 2 – Check the Company Web Site and Press Releases
Most companies have a web site. Check it for product and service information, press releases, and any other details they make available.
Step 3 – Articles in Magazines and Newspapers
It is important to also search for articles that contain negative
information like lay-offs, recalls and other problems. In addition to
news databases, the business databases used for industry research
(Business & Industry, Gale Group PROMT, Gale Group Trade & Industry, Business Source Corporate) are helpful for company research. You should also check local newspaper archives.Articles in Magazines and Newspapers
ABI/Inform
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2-3 pages of background on industries, good coverage of trends
Business & Management Practices
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EBSCO’s Newsbank
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2-3 pages of background on industries, good coverage of trends
Proquest
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EBSCO’s Regional Business News
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2-3 pages of background on industries, good coverage of trends
Business Dateline
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2-3 pages of background on industries, good coverage of trends
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Other databases with company news:
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2-3 pages of background on industries, good coverage of trends
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On HillSearch by subscription at www.hillsearch.org University library has a print copy at the reference desk.
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2-3 pages of background on industries, good coverage of trends
Step 4 – Financial Information
Use the EDGAR database at www.sec.gov for public company financial filings. D&B sells credit reports that may contain financial information on private companies.
PART 3: MAILING LISTS OF COMPANIES
Clients usually want a list of companies for prospecting. Once the target market is defined, then you can generate a custom list using a directory database or look for an existing list or directory that covers their target market.
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2-3 pages of background on industries, good coverage of trends
Directories in Print
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2-3 pages of background on industries, good coverage of trends
SRDS Direct Marketing List Source
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PART 4: STATISTICS
When you are looking for statistical information, it is helpful to think about what organization or group would care enough about the data to go to the expense of collecting it. If you can figure that out, go right to the source. The (Encyclopedia of Business Information Sources) and the (Small Business Sourcebook) are also good starting points.
Statistics
Statistical Abstract of the U.S.
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Statistical Resources on the Web
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Demographics
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Life Style Market Analyst
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American Demographic Magazine
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Sales & Marketing Management Survey of Buying Power
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Sourcebook of Zip Code Demographics
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PART 5: OTHER RESOURCES
There are many research resources available to you within the local and national SBDC system as well at your own university. Review these other resources so you’ll know who to contact when you need help.
Other Resources
The Pennsylvania SBDC Business Links Page
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The Pennsylvania SBDC Listserv
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On HillSearch by subscription at www.hillsearch.org University library has a print copy at the reference desk.Pennsylvania SBDC’s Business Information Specialist
Contact Kim Fukui at research@pasbdc.org
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Pennsylvania SBDC WebCATs client database
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On HillSearch by subscription at www.hillsearch.org University library has a print copy at the reference desk.University library reference desk URL:
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