Industry Research Strategy
This is a selected guide for research on Industry Information in the McFarlin Library Collection.
Search Strategies
Industry research is important for strategic planning. Designing marketing plans, tracking company performance, assessing competitors, and evaluating capital investment all depend on good industry intelligence.
Also information is often not provided exactly as you may be seeking it. Many general resources provide background on a broad level which still contribute to a good business analysis. Once you've spent some time evaluating the industry, related research such as company assessment will be easier.
Industry analysis
| Elements to analyze |
| Definition of the industry |
Structure of the industry |
Historical development |
Growth patterns |
- identify the industry classification code
- identify the broader industry group
|
- identify the major divisions of the industry
|
- established or newly developed
|
- rate of growth
- seasonal or steady
|
|
| Elements to analyze, cont. |
| Present trends |
Competition |
Customer characteristics |
Environmental factors |
- identify current patterns
|
- identify the names and market share of the major companies in the industry
|
- buying and selling patterns
|
- economic climate
- technological developments
- social & demographics characteristics
|
|
Industry data is often reported in broad or aggregated form. Use it to provide background for your analysis.
The following steps will help organize the research process:
- define the industry
- determine the SIC or NAICS code for the industry
- develop an overview - use multi-industry publications
- use guides to the literature to find relevant publications
- identify trade associations for the industry
- look for relevant statistical sources such as sales data and production figures
- browse periodical and newspaper indexes to find articles on recent developments
- search Internet sources
