Research Tips
With any research endeavor, it is crucial to ask yourself as many questions as possible to ensure you are thinking critically about the subject. For target market research, consider not just the age, but the lifestyle, gender, household size, location, culture, and other factors that would influence that market's consumer tendencies. Alternate your focus between the company/product and the consumer (who would buy X product? would person Y buy it? what prevents them from doing so? what could the company/product do to change this?).
As you research, look for data/information that answers these questions. If you have trouble finding data/information to support your theory, you may be asking the wrong questions, or are trying to shoehorn data to support an answer that you created from the start. Let the research process guide you to the answer rather than begin your research with an answer in mind.
Target Market/Demographics
Target market identification is "The process of using income, demographic, and life style characteristics of a market and census information for small areas to identify the most favorable locations." - AMA Dictionary
Select .gov and .org Resources
- Census Business Builder - Small Business EditionMap companies in a particular region operating in a particular industry or sector. You can create map layers for additional variables (consumer spending, population, etc.) as well as generate a report on that industry.
- Consumer Expenditure Survey (bls.gov)This survey provides data about American consumer expenses. The most recent survey is for 2016. The survey can be viewed in a variety of formats, including tables, news releases, and reports. Select the type of resource you would prefer from the top paragraph.
- Data.Census.govData.census.gov provides access demographic and economic data from the U.S. Census Bureau. This website makes data available from one centralized place so that users spend less time searching for data and content, and more time using it.
- United Nations Statistics Division - Demographics and Social Statistics (un.org)Demographic Yearbook and other publications; Demographic and social topics; Statistical Databases; and more!
Salisbury & Maryland Resources
These resources could help determine target market size for the geographic/market area around Salisbury, MD.
- Maryland State Data CenterThe Maryland State Data Center (SDC) is an official partner with the U.S. Census Bureau.
- Salisbury, MD Area Chamber of CommerceOnline source for information on Salisbury and Wicomico County, MD.
- Salisbury University - University Analysis, Reporting & AssessmentFor college student population demographic in Salisbury.
- SBDC - Maryland Small Business Development Center - Eastern RegionCounseling services offered on campus in the Perdue School of Business.
- Delmarva NowLocal news
Websites Worth Mentioning
- NielsenWhat People Watch - What People Buy. Nielsen studies consumers in more than 100 countries to give provide a complete view of trends and habits worldwide. Reports on: Media & Entertainment; Consumers; Global; and Online are often available for free download after providing information about yourself.
- Pew Research CenterNonpartisan, non-advocacy public opinion polling and demographic research. Topics include: U.S. Politics; Media & News; Social Trends; Religion; Internet & Tech; Hispanics; and Global. The Internet & Tech tab brings you the Pew Research Center's Internet & American Life Project, which has the latest research and infographics on social media, mobile, and other technology user information.
- The National Retail FederationThis industry association website provides great insights into consumer behavior, spending habits, trends, and more. Start with the "Resources" page.
Select E-Books
The baby boom : Americans born 1946 to 1964 by
Call Number: HC110.C6 .B339 2015ebISBN: 9781940308890Publication Date: 2015
Best Customers: Demographics of Consumer Demand by Call Number: HC110.C6 B384 2014ebPublication Date: 2014
Household Spending: Who Spends How Much On What by Call Number: HC110.C6 H385 2014ebPublication Date: 2014
The American Marketplace: Demographics and Spending Patterns by Call Number: HF5415.3 .A44 2014ebPublication Date: 2014Provides the demographics and spending patterns of American consumers. Includes data on education, health, housing, income, labor force participation, living arrangements, population, spending, and wealth.The generation X : Americans born 1965 to 1976 by
Call Number: HF5415.332.Y66 .G464 2015ebISBN: 9781940308869Publication Date: 2015The millennials : Americans born 1977 to 1994 by
Call Number: HQ796 .M555 2015ebISBN: 9781940308838Publication Date: 2015
Select Databases
Try searching databases by keywords describing your product/service. One search strategy could be to search by industry code AND keywords such as "consumers" or "market."
- ABI/INFORM Global This link opens in a new windowProvides indexing and abstracting for 1000 periodicals with full text for more than 600 publications.
- Academic Search Ultimate This link opens in a new windowComprehensive, scholarly, full text database for multidisciplinary research
- Business Source Complete This link opens in a new windowBusiness Source Complete is an essential tool for business students. It covers all disciplines of business, including marketing, management, accounting, banking, finance and more. Content includes many full-text journals and topical video content.
- Statista This link opens in a new windowStatista.com, by Statista, Inc. provides data on over 60,000 topics from over 18,000 sources, categorized into 21 market sectors. Statista.com provides quantitative data on media, business, finance, politics, and a wide variety of other areas.