Market Research - DIY Resources

Introduction

Market research can be defined in various ways but is treated here as industry and market analysis, or the market-related elements of a business plan.

Although market research from professional research firms is available for purchase, new entrepreneurs must often develop their business plans with no budget. The market research resources listed on these pages are for the do-it-yourself (DIY) researcher or entrepreneur working with little or no funding.

The core elements of a business plan for a new venture typically include:

• Industry Overview (information on trends, outlook, current status)
• Competitive Environment (information on potential competitors, market share)
• Market Analysis (information on customers, suppliers, target markets)

Information for a business plan must be gathered from mulitple sources. In addition to primary research--talking to suppliers, surveying customers, etc.--market researchers must also turn to secondary sources such as analyst reports, news stories, and databases, etc.

The resources in this guide include commonly used secondary sources, plus several databases of off-the-shelf market research available to MIT users. As you work with them, you will begin to see how they might apply to your particular product or venture.

This page was last updated on 10/29/07