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 and find 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:

• Step-by-step guide to conducting Market Research
• Develop a marketing plan or program with the Market Research Workbook

Sources for Market Research Data

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.

Business Data and Statistics

The following statistical sources are often used for secondary market research.

• General Business Statistics
• Consumer Statistics
• Demographics - People and Population
• Economic Indicators
• Employment Statistics
• Income and Earnings
• Trade Statistics
• Statistics on Specific Industries

International Markets

Are you intersted in exporting?  These resources will help research potential international markets for your products or services.

• Market Research Guide for Exporters
  Resources for business owners seeking to sell their products abroad.
• Country Market Research
  Reports on trade issues in countries across the globe.
• BuyUSA.gov
  Helps U.S. companies find new international business partners in worldwide markets.

Green Business Markets

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.

• Environmental E-Market Express
  Find current environmental market research data, international trade leads and events.
• Talk the Walk
  Research and statistics on consumers' attitudes and behaviors in the context of successful green products and sustainable lifestyle marketing strategies.
• Green Consumers : A Growing Market for Local Businesses
  Explains how local businesses can better serve green consumers.
• Green Food Claims
  Reports on how self-declared environmental claims have can mislead consumers about a food's green credentials.
• Understanding Environmental Literacy in America
  Information on consumers' understanding of environmental issues and the need for further environmental education.
• Consumer Reports : Greener Choices
  Information on buying greener products that have minimal environmental impact and meet personal needs.