New Concept Development - ENTP 6842  

Link to Auraria Library Databases **
or Open Web Resources *

Navigating Library Research:      

Market Background: Customer/User     

Industry / Competitor Analysis      

Business & Company Resource Center **

IBISWorld Industry Market Research   **
Lexis/Nexis Academic **
Private Company Reports [Lexis/Nexis] ** 
Mergent Online * (International & US Industrial Data)   

Internal Analysis of the Firm
[Who We Are; Who We Are Not] 

Reference USA [Use Custom Search] **
DexKnows  [ Open Web Regional ] *    
Municipal /County [ Colorado Yahoo] *   
Secretary of State [ Colorado ] * 

  Macro Environment/Trends      

 Pew Center for Research *
Pew Global Attitudes Project *
Gallup Poll News Service **   
Datamonitor 360 **

New Restaurant Start-Up

A native Colorado is considering opening a restaurant in her Highlands Ranch suburg.  Her initial thought are that it would focus on a themed cuisine and employ a format similar to those used by other local firms like Noodles, Tokyo Joe's and Q'doba.  This budding restauranteur has many ideas, but needs some solid data upon which to determine which style of food makes sense and to project possible sales for various locations along the Front Range. 

Handheld Mobile Device

A Qwest employee working as a marketing specialist in the wireless area wants to identify and quantify possible market opportunities in the handheld-wireless-data product space.  He is also interested in investigating both segmentation schemes and positioning alternatives for potential new products.  He needs assistance getting a database driven research inquiry started?

Situation Analysis  

The main environments investigated in the Situation Analysis are market, industry and firm.  However, the Situation Analysis also considers relevant issues and trends in the macro environment.  A brief overview of these environments follows.  

The Situation Analysis sets out the facts that are the bases for all future analyses in subsequent sections.  That is, with the exception of any primary research, all data reported in subsequent sections of the Marketing Plan should be traceable to the Situation Analysis, including current financial performance. 
 
Market Background / Customer or User

Example: Business Source Premier Search Result

Develop a working understanding of the customer or user.  Use Business Source Premier for a SWOT analysis, industry profiles, market research reports or product reviews.

Questions to Ask 

Develop a working understanding of the customer or user.  Use Business Source Premier for a SWOT analysis, industry profiles, market research reports or product reviews.  

• Who are the people with the the problem we are looking to solve?
• How do they currently solve that problem?
• Why do they choose one solution over another?
• How much value do they perceive in currently used solutions?
• What needs to change in terms of the value function for them to consider your product

   
Industry / Competitor Analysis   

Investigate high-level factors like those reflected in Porter's 5-forces model:   

1. Rivalry among competitors
2. Threat of new entrants
3. Availability of substitutes
4. Bargaining power of buyers
5. Bargaining power of suppliers

Internal Analysis of the Firm 

Who We Are....

Who We Are Not   

Consider our firm's past performance and the reasons for those outcomes.  Then analyze our firm as if we were a competitor.

  
Macro Environment and Relevant Trends  

Many firms have failed or not performed as we expected by overlooking trends in their macro environments.  To avoid this fate, look at those factors that Porter identifies related to industries. For example:  Changes in long-term growth rates; Key buyer segments; Costs and efficiencies; Relevant government regulations; Rates at which proprietary knowledge is diffusing. You also want to consider trends related to markets such as changes in:  Cultural or Demographic factors; Social or Lifestyle factors; Economic issues; Legal or Political concerns; Physical environment.