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Conducting Market Research on an Industry

Discussion in 'Business, Careers & Education' started by davesmith, Mar 4, 2012.

  1. davesmith

    davesmith Affiliate Vendor

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    What would be the best way to go about conducting market research (necessary for a business plan) on the fashion/style industry?

    I'm not really sure where to get started!
     


  2. idfnl

    idfnl Senior member

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    Depends on the kind of research. Financial? Industry standards? Trends?
     


  3. davesmith

    davesmith Affiliate Vendor

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    How about all the above!! I am looking into type of people buying, how many of those people there are, whether the group is growing or decreasing, stuff like that..
     


  4. idfnl

    idfnl Senior member

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    So you want demographics... not my area, sorry. If you wanted financials, I would start with Bloomberg, moodys, MSN Money, and a host of sites that report all kinds of data related to financials such as:

    analyst estimates - MarketWatch
    SEC filings - EDGAR Online
    Major Holders - MSN
    Research Reports - Reuters
    Annual Reportz - AnnualReports.com
     


  5. ballmouse

    ballmouse Senior member

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    Create a survey using a professional agency (or do it yourself, but make it look nice).

    Send it to 1) professionals in the industry (unfortunately, you're going to need to mine their contact info yourself) and/or 2) normal, everyday people (a professional agency will usually be able to do this part)

    Then get the data and analyze it.

    This is one way of how a consulting firm I interned at performed market research.
     


  6. Ebichuman

    Ebichuman Senior member

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    Unless you have access to some tools at work or school, public library would be the best place to start.

    Talk to the reference librarian about industry reports - lean heavily on these folks, they know their stuff pretty well.

    Add to that data from US Census Bureau, trade associations, etc. (this stuff you can just Google), and the stuff idfnl mentioned

    That will give you a start. If you have a basic understanding of what you need for the business plan, you should be OK.

    The survey is a good idea but hard to pull off if you don't have a budget or basic survey design/stats chops.
     


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