Market Research

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 government data and statistics to help you make informed decisions about starting, growing and managing your business.

How to Conduct Market Research

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:

• Market Research Guide
  General step-by-step guide to conducting market research.
• Market Research Workbook
  A guide to finding the information/data a small business needs in developing a marketing plan or program.

Sources for Market Research Data

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. For a full listing of business data available from the federal government, visit our guide on Business Data and Statistics.

General Sources

The following resources provide statistical information and research reports on business conditions and for a variety of industries.

• FedStats
  Official statistical and trend data on topics as economic and population trends, crime, education, health care and more.
• Statistical Abstract of the United States
  Authoritative and comprehensive summary of statistics on the social, political, and economic conditions in the United States.
• Statistics of U.S. Businesses
  Collection of data files created from U.S. Census County Business Patterns, an annual series that provides subnational economic data by industry.
• Small Business Research and Statistics
  Research reports and statistical information on small businesses conditions in the United States.
• STAT-USA
  For a subscription fee, access authoritative business, trade, and economic information from across the federal government. Produced by the U.S. Department of Commerce.

Demographics - People and Population

• American FactFinder
  Access to a wealth of population, housing, economic, and geographic Census data.
• State and County Quick Facts
  Provides frequently requested Census Bureau information at the national, state, county, and city level.
• Current Population Statistics
  Monthly survey of about 50,000 households conducted by the Bureau of the Census for the Bureau of Labor Statistics.
• Labor Demographics
  Demographic categories used by the Bureau of Labor Statistics, including sex, age, race, and ethnic origin.
• Social Security Fact Sheets for Demographic Groups
  Fact sheets for all demographic groups including women and young people.
• State Population Statistics
  Provides access to facts about people, business, and geography.