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1Chapter 2.Market InsightDisclaimer:All images such as logos, photos, etc. used in this presentation are the property of their respective copyright owners and are usedhere for educational purposes only• Some material adapted from: Sorger, Stephan. “Marketing Analytics: Strategic Models and Metrics. Admiral Press. 2013.© Stephan Sorger 2016;; Ch. 2 Market Insight; 1Outline/ Learning ObjectivesTopicDescriptionTerminologyKnow the difference between markets and productsData SourcesAssemble your go-to list of data sourcesSizingPractice sizing with reports, top-down, and bottom-upTrendsFind trends using PESTLE & Porter 5 Forces techniques© Stephan Sorger 2016;; Ch. 2 Market Insight; 2TopicDescriptionMarket DescriptionDescribe market based on need that product fulfillsAvoid overly narrow (product-based) descriptionsExample: Wang word processors in 1980sMarketGroups of customers buying products from sellersPotential MarketAll people in population with interest in product/serviceAvailable MarketPeople with interest, plus means (money)Qualified Available Mkt.Legally allowed to putchase product/serviceServed MarketSegments targeted by companyMarket DescriptionServed MarketPotential MarketAvailable MarketQualified Available Market© Stephan Sorger 2016;; Ch. 2 Market Insight; 3TopicDescriptionIndustryGroups of sellers making “similar” products/ servicesExample: White Goods (appliances) industryCompanies: GE, Westinghouse, Samsung, etc.CategorySubset of industryGroup of competing firms selling to market segmentExample: High-end kitchen appliance manufacturersCompanies: Wolf, Sub Zero, etc.Industry DescriptionIndustryExample: White Goods (Appliances)CategoryExample: High-end Appliances© Stephan Sorger 2016;; Ch. 2 Market Insight; 4Market Data SourcesSecondary ResearchGovernment DataAnalyst ReportsBusiness and Trade PublicationsOther SourcesCommissioned ReportsB2C: Retail SalespeopleB2B: Company SalespeopleSurveysPrimary Research© Stephan Sorger 2016;; Ch. 2 Market Insight; 5Government DataGovernment DataU.S. Census Bureau: Census every 10 years, plus New American Community estimatesU.S. Bureau of Labor and Statistics: Data on employment, productivity, inflation, etc.U.S. Bureau of Economic Analysis: Data on national GDP, regional GDP, personal income,..Local Chambers of Commerce: Data on local area© Stephan Sorger 2016;; Ch. 2 Market Insight; 6
2TopicDescriptionPurposeAssign unique ID number to every industrySimilar to the role of ZIP codes or Dewey DecimalSICStandard Industrial Classification (1987)NAICSNorth American Industrial Classification System (1997)

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