Mgmt 484
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  • Let’s say you are going to make an app for soccer players. How big is that market? What are the segments of the market?
  • My point being that business classification is complicated.
  • My point being that business classification is complicated.
  • My point being that business classification is complicated.
  • My point being that business classification is complicated.

Mgmt 484 Mgmt 484 Presentation Transcript

  • ENTREPRENEURSHIPMANAGEMENT 484GATHERING DATA FOR YOUR BUSINESS PLANIlana BarnesBusiness Information SpecialistParrish Library
  • WHO AM I?THERE IS A LIBRARY?WHERE IS THE LIBRARY? guides.lib.purdue.edu/mgmt484
  • WHAT MAKES YOUR IDEADIFFERENT? guides.lib.purdue.edu/mgmt484
  • PROVE IT. guides.lib.purdue.edu/mgmt484
  • WAYS TO PROVE IT• Find a similar company • Find a growing industry that has been successful • Find an industry without• Find a new trend much competition• Find a niche in a larger • Find an industry with market weak competition• Find where the customer • Find a new market for an is existing product• Find an article about an • Find areas where the emerging business industry is not serving practice • Create a completely new• Show that people are market by combining invested in the industry markets guides.lib.purdue.edu/mgmt484
  • PROVING ITThe primary elements involve:• understanding how the industry operates• what influences it internally: the market• what influences it externally: the consumers• under guides.lib.purdue.edu/mgmt484
  • TYPES OF INDUSTRY ANALYSISPorters 5 ForcesPEST/PESTLE AnalysisValue Chain AnalysisFour Corners ModelBlindspots AnalysisFinancial Ratio Analysis...and many more. guides.lib.purdue.edu/mgmt484
  • WHO IS GOING TO BUYTHIS?
  • UNDERSTANDING THE MARKET• Where are consumers spending their money?• What is influencing their behavior?• Do they have preferences?• Are there buying habit trends? guides.lib.purdue.edu/mgmt484
  • UNDERSTANDING THE MARKETWho is going to buy this? guides.lib.purdue.edu/mgmt484
  • UNDERSTANDING THE MARKETWho is going to buy this? guides.lib.purdue.edu/mgmt484
  • UNDERSTANDING THE MARKETMarket SizeandSegmentation guides.lib.purdue.edu/mgmt484
  • UNDERSTANDING THE MARKETA SIMILAR MARKET guides.lib.purdue.edu/mgmt484
  • UNDERSTANDING THE MARKET guides.lib.purdue.edu/mgmt484
  • INFORMATION HASREAL WORLD VALUE. guides.lib.purdue.edu/mgmt484
  • ACTIVITY (10 MINUTES)1. Go to MarketResearch.com Academic, IBISWorld, Mintel or Frost and Sullivan2. Search for some markets that might fit your company or similar companies3. Save what you find to your desktop. guides.lib.purdue.edu/mgmt484
  • A NOTE ON CLASSIFICATION guides.lib.purdue.edu/mgmt484
  • A NOTE ON CLASSIFICATION guides.lib.purdue.edu/mgmt484
  • A NOTE ON CLASSIFICATIONWhat genre does this person’s music belongin? guides.lib.purdue.edu/mgmt484
  • A NOTE ON CLASSIFICATIONNAICSSIC Change over Time guides.lib.purdue.edu/mgmt484
  • COMPETITORS & SUPPLIERSWhat are competitors doing?Are there geographic factors toconsider?What technology is having animpact?What are competitors who will buyfrom you? guides.lib.purdue.edu/mgmt484
  • COMPETITORS & SUPPLIERSWhat are your competitors doing? What are their profits? Are there geographic factors to consider? What technology is having an impact? Who are your suppliers? guides.lib.purdue.edu/mgmt484
  • COMPETITORS & SUPPLIERSCompany Research -Company websites -ReferenceUSA -LexisNexis Company Dossier guides.lib.purdue.edu/mgmt484
  • BIZMINER guides.lib.purdue.edu/mgmt484
  • THOMASNET guides.lib.purdue.edu/mgmt484
  • COMPETITORS & SUPPLIERS• Company websites• ReferenceUSA• LexisNexis Company Dossier guides.lib.purdue.edu/mgmt484
  • ACTIVITY (10 MINUTES)1. Go to Bizminer, ThomasNet or Search for some markets that might fit your company2. If those don’t fit, try typing in some competitors into Reference USA or LexisNexis Company Dossier3. Save what you find to your desktop. guides.lib.purdue.edu/mgmt484
  • FIND OUT MOREIlana Barnes We chat.ibarnes@purdue.edu We email.(764) 494-6243 We answer phones. We’re here for you.Parrish Library2nd Floor of Krannert Buildinglib.purdue.edu/parrishhttp://guides.lib.purdue.edu/melentrepreneurship guides.lib.purdue.edu/mgmt484