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Library Resources for Market Analysis Mary Buelow, Head of - - PowerPoint PPT Presentation
Library Resources for Market Analysis Mary Buelow, Head of - - PowerPoint PPT Presentation
Library Resources for Market Analysis Mary Buelow, Head of Information Services Hedberg Public Library 316 S Main St Janesville, WI 53545 (608) 758-6581 referencedesk@hedbergpubliclibrary.org What is Market Analysis? It is the process of
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Why do I want this information?
- To help understand your business’s operating
environment
- To make informed business decisions
- To minimize business surprises
- To help funding organizations understand your
business
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Research for a Market Analysis covers:
Your field or industry Your competition Your markets
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Your Field or Industry
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S mall Business S
- urcebook
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Small Business Sourcebook has leads for:
Start Up Information Associations and Other Organizations Reference Works Trade Periodicals Franchise and Business Opportunities and more!
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“Society of American Florists”
Growers, wholesalers, retailers, and allied tradesmen in the floral industry. . .provides business resources. Sponsors Floricultural Hall of Fame . . . Com piles statistics; sponsors competitions.
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S IC and NAICS
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Business Classification
Business classification systems are “Dewey Decimal” numbering systems for companies Many databases and directories arrange listings by classification codes.
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Two maj or Business Classification systems in use are:
▫ Standard Industrial Classification System (SIC) ▫ North American Industry Classification System (NAICS)
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S
- me classification categories
can be very broad
- SIC 5812 “Eating Places”
includes coffee shops, restaurants, caterers, institutional food service establishments
- SIC 7299 “Miscellaneous Personal Services, Not
Elsewhere Classified” includes genealogical investigations, dating services, buyers clubs, tattoo parlors
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It is important to understand exactly what your SIC or NAICS classification represents!
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S earch for classification codes in print directories or online:
SIC www.osha.gov/ pls/ imis/ sicsearch.html NAICS www.census.gov/ naics/
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S ubj ect Codes for Florists:
- SIC Code for Florists is 5992
- NAICS Code for Florists is 453110
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RMA Annual S tatement S tudies
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Annual S tatement S tudies
- Arranged by NAICS code
- Balance Sheet Data
- Income Data
- Ratios
- Data sorted by assets, and data sorted by sales
- Five years comparative historical data
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Balance S heet Data
- Average percentage for asset categories,
including cash and equivalents, trade receivables, inventory, fixed assets, intangibles
- Average percentage for liabilities including
short term notes payable, trade payables, income taxes payable, long term debt
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Ratios
- Sales/ Working Capital
- Fixed/ Worth
- Quick Ratio
- Sales Receivables
- Cost of Sales/ Inventory
- Cost of Sales/ Payables
- Percent Profits Before Taxes/ Total Assets
- Percent Depreciation, Depletion, Amortization /
Sales
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Financial Ratios
Help you analyze a financial balance sheet
- r estimate future benchmarks
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Periodical Articles
EBSCOhost Business Source Premier
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EBS COhost Business S
- urce Premier
- Available to all Wisconsin residents through
BadgerLink www.badgerlink.net
- Also available on the Hedberg Public Library’s
Research Databases page
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United S tates Census Economic Census
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United S tates Census
- Decennial Census. Taken every ten years to
collect information about people and housing in the US
- American Community Survey. Ongoing survey
that provides data about your community every year
- Econom ic Census. Profiles the US
econom y every five years.
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Economic Census is now available on American FactFinder
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Advanced S earch
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Options are on the left
Click on the arrow to expand
- ptions.
In this example, we are selecting the Geographies Option.
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An overlay pops up
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Use the pull down menu to select a geography option
In this example, we are selecting State
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Once we select the geographic type “ S tate” , we can select the state we wish search.
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Click “Add to Your Selections”
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Wisconsin will be added to Your Selections
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Close the option filter overlay with the
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We will narrow our search with the Industry Codes option. Click on the arrow to expand options.
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An overlay pops up
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We will use the search box in the overlay, enter our NAICS code for florists, and click
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Check the box to select 453110 – Florists Click to add to Your S elections
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Close the option filter overlay with the
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Search Results Listings:
There are 32 tables and other products that contain data for Florists in Wisconsin Click on any table to access that data.
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This table gives the number of florists in Wisconsin in 2011 (307) the number of employees for all 307 establishments (1,595) and the annual payroll for all 307 establishments (20,346,000)
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This table compares statistics between surveys completed in 2002 and in 2007
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The next table shows data for product categories sold at Wisconsin florists.
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What is NOT in the Census
- Anything that would allow you to identify
information for a specific individual or company.
- If data for a search category allows you to guess
data for a specific individual, that data will be
- suppressed. In that case, data will be replaced by
- r or or “the data you requested are not
available”
- The Census is confidential!
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S earch the Economic Census:
http:/ / factfinder2.census.gov
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Your Competition
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S
- urces for Researching Competitors:
- Wisconsin Business Directory
- Wisconsin Manufacturers Directory
- Wisconsin Services Directory
- Illinois Manufacturers Directory
- Illinois Services Directory
- ThomasNet.com
- Reference USA
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Reference US A
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Reference US A Print and Download Limits
- 25 at a time from a library computer
- 10 at a time from a home computer
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S earch Reference US A for
- Competitors
- Suppliers
- Clients and prospects
- Lost addresses and phone numbers
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Accessing Reference US A
- Reference USA is a subscription product.
- You must visit a library that has a subscription
to Reference USA, or
- You must have a library card with a library that
has a subscription to Reference USA
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Reference US A is available at the following libraries in Rock County:
- Eager Free (Evansville) Public Library
- Hedberg (Janesville) Public Library
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To Access Reference US A through Hedberg Public Library
- Go to the Hedberg Public Library’s website at
www.hedbergpubliclibrary.org
- Click Research Tools
- Then Research Databases
- Select Reference USA
- Type in your Hedberg library card number
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A similar product “ A to Z Databases” is available at:
- Beloit Public Library
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Your Markets
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First, think about the categories of people and/ or organizations who would purchase your product or service. Second, research those categories of people. Are there enough potential customers to support your business?
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Potential Customers For Florists
- Purchasers are adults
- Purchasers have disposable income
- Flowers are given as gifts to adults within a
specific time frame and geography
- Floral displays purchased for special events
within a specific time frame and geography
- Floral displays purchased by companies or
- rganizations to impress their customers
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Consumer Expenditure S urvey
US Bureau of Labor Statistics www.bls.gov/ cex/
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More resources for business Bureau of Labor S tatistics
http:/ / www.bls.gov/ audience/ business.htm#industry
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Examples of useful BLS statistics for businesses
- Consumer Price Index Escalation Guide
- Producer Price Index Escalation Guide
- Employment Cost Index Escalation Guide
- Employer Costs for Employee Compensation
Report
- Employee Benefits in Private Industry Report
- International Labor Comparisons
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United S tates Census Population Census
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United S tates Census
- Decennial Census. Taken every ten years to
collect information about people and housing in the US
- American Community Survey. Ongoing survey
that provides data about your community every year
- Economic Census. Profiles the US economy
every five years.
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Census Data is available on American FactFinder
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Community Facts
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Type in a place name
The search requires exact Census terminology. We will use the suggestions that pop up to select Janesville city, Wisconsin
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Advanced S earch
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Your Selections
Your searches will only retrieve data for your selections. Our last search was for Janesville city, Wisconsin . This has been retained as
- ne of our selections.
For this search, all tables retrieved will have data for population for the City of Janesville, Wisconsin.
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Search Results Listings:
There are 11,584 tables and other products that contain data for Janesville , Wisconsin Click on any table to access that data.
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Search Results Listings:
The Title column lists the name of each table. The Dataset column lists the census series and year the data was collected. The for each title links to a preview of the data found in that table
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The for each title links to a preview
- f the data found in that table, but does not have
any actual data.
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Clearing Selections
You can clear a selection by clicking the next to that selection, or by clicking
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Using the Filter Options
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Options are on the left
Click on the arrow to expand
- ptions.
In this example, we are selecting the Geographies Option.
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An overlay pops up
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Use the pull down menu to select a geography option
In this example, we are selecting County
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Once we select the geographic type “ County” , we can select our state, Wisconsin, and scroll down the list to select Rock County.
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Click “Add to Your Selections”
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Rock County, Wisconsin will be added to Your Selections
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Close the option filter overlay with the
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We will narrow our search with the Topic option. Click on the arrow to expand options.
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Click on the to view sub-options. We will look at sub-options for “ People” .
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We will look at (sub) sub-options for “ Income & Earnings” , and select “ Income/ Earnings (Households)” This will be added to our S elections
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We will narrow our search again with the Topic option.
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We will select “ Age of Householder”
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And close the option filter with the
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There are 429 tables and other products that match our selections.
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We will select “ Age of Householder by Household Income in the Past 12 Months”
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Action Options: Modify Table Print Bookmark Download
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What is NOT in the Census
- Anything that would allow you to identify
information for a specific individual.
- Name files are closed for seventy years.
- If data for a census block or census tract allows
you to guess data for a specific individual, that data will be suppressed.
- The Census is confidential!
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S
- urcebook of ZIP Code
Demographics
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For each ZIP Code:
- Population statistics for last decennial census,
current year estimate, and five year projection
- Breakdowns for age, race, and gender
- Household income distribution
- Home value distribution
- 20 categories of spending potential indices
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S pending Potential Categories
- Financial Services: Auto Loan, Home Loan,
Investments, Retirement Plans
- The Home: Home Repair, Lawn and Garden,
Computers, Major Appliances, Audio and Video equipment, Furniture
- Entertainment: Dine in/ Carry Out, Sports
Equipment, Fees and Tickets, Toys and Games, Travel, Cable TV
- Personal: Apparel and Services, Auto Repair,
Health Insurance, Pets and Supplies
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S pending Potential Indices
- Are only meaningful when compared to a
percentile scale
- The percentile scale can be found in the book’s
introduction
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Our Janesville Florist example
- No spending potential for “flowers” so we will
use “Entertainment-Fees and Tickets” instead.
- Spending potential for “Fees and Tickets” in ZIP
53545 is an index number of 10 0
- Median “Fees and Tickets” index number is 66.
At the median index, half of ZIP codes spend more, half spend less.
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Janesville Florist example (continued)
- 75th percentile “Fees and Tickets” index number
is 95. At the 75th percentile, 25% of ZIP codes spend more, 75% spend less.
- 90 th percentile “Fees and Tickets” index number
is 140 . At the 90 th percentile, 10% of ZIP codes spend more, 90% spend less.
- ZIP 53545, with index number of 10 0 , is in the
top 25% but not in the top 10%.
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From the Introduction to the 2009 Edition
- Statistical updates are converted and
extrapolated from Acxiom , Post Office delivery stats, residential construction stats from Hanley Wood Market Intelligence, and others
- Incom e statistics are for the 20 0 8 calendar
year.
- Spending potential indices derived from
Consum er expenditure surveys (2005 – 2006)
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From the Introduction (continued)
- Projections for 2014 assum e continuation of
current rate of inflation (2.9%)
- Risk that the projections are inaccurate is
inversely related to the size of an area. The sm aller the area, the greater the risk.
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FedS tats
www.fedstats.gov
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Your Librarians are Here to Help!
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Working With Your Librarian Help us help you!
- Ask for help
- If you are looking for specific information, ask
specific questions.
- Some searches take time. Avoid tight
deadlines.
- Tell us when to stop!
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