This guide was created to provide a starting point for conducting industry and market research.
Industry analysis can help you answer the following questions:
- how does the industry operate?
- what is the competitive landscape? who are the key players and what is their market share?
- what is the current size and value of the industry?
- how is the industry performing?
- what is the current outlook for this industry? is the industry growing?
- what are the key products and services?
- what are some barriers to entry?
- what what some threats to the industry?
- what current trends are affecting the industry?
Also, industry surveys usually contain financial data and industry ratios.
Market analysis can help you answer the following questions:
- what is the current size of the market? what is the market potential?
- what are the current market drivers?
- how is the market segmented?
- who is my target market? what are their demographic, psychographic, and geographic characteristics?
- what are consumer purchasing habits? where do they make purchases? how much do they spend?
- what are current product trends?
- who are the key players in the market?
Market research reports may also contain product and brand data (e.g. sales, shares) and consumer behavior/attitudes survey data.
