To run a successful business, you need to learn all about your existing and potential customers, your competitors, and the economic conditions of your marketplace. Market research is the process of gathering and analyzing consumer and economic data to help you understand which products and services your customers want, and how to differentiate your business from your competitors. This guide provides information on how to use and find government data and statistics to help you make informed decisions about starting, growing and managing your business.
Your decision to start or expand a business should be an informed one, but it's often difficult to know where to begin. A little planning can go a along way, so your first step should be to learn more about how to conduct market research:
Whether you are a new business owner or an old pro, a solid understanding of your market and current economic conditions and current economic conditions is key to your business' growth and success. The federal government collects a wealth of data and information about businesses, industries and economic conditions that can aid in conducting market research. The following sources for market data provide starting points for learning more about your customers and competitors.
The following statistical sources are often used for secondary market research.
Are you intersted in exporting? These resources will help research potential international markets for your products or services.
Being "green" isn't just a good business practice. It's a multi-billion dollar industry. These resources will help you learn about marketing to environmentally-conscious consumers.