Market Trends

Go to the experts! 

Other experts: 

How to find Industry Benchmarks

Yes, this will seem hard at times to get access to useful and free info. Many places want to charge for info, but we can try hard to find free info as best we can. At some point, it may make sense for you to purchase a report, but I would consult with Professor on that first. 

Resources to dig into: 

How to know what an industry benchmark and important market trends and info are? 

Find resources that help you answer the following questions. Use the MCC Market Research guide to assist you. You will summarize this info into your business plan. This is helping you make the case and find important info to help you understand your market opportunity. 

*These questions are to help guide you to get the most info, it is up to you go figure out which ones make most sense for your business/industry. 

Example 1

A restaurant expert may discuss trends away from big family size portions towards small plates. This means that a business may want to think about highlighting tapas (small plate) selections and design a food menu that accommodates this trend.

Example 2

A clothing company reads articles such as this one about how business dress is changing post pandemic. This means they may make a decision to design less formal business attire and get into the business casual field. 

Biz Miner Reports 

Here is a market research company that we have access to reports FREE HERE 

Go into this folder to find reports already downloaded. If you don't see your business industry, contact professor with your NACIS number via email asking for a Biz Miner report. 

Don't know your NACIS number? Use this NAICS site to help you drill down. The site provides industry codes which will be useful in the future when trying to find benchmarks (or standards) in your industry.