| discount hotels in Syracuseby Kathy Bryan, Georgia SBDC Create a web site? Introduce a new product? Expand into new markets? Offer a new service? These are a few of the many decisions business owners and managers face each day. Before these questions can be answered, the entrepreneur needs "market smarts"—knowledge of the industry, market, and customer. The first area to evaluate is the industry. What outside forces affect the industry? What new products are appearing in the market? What are the industry trends? Second, the entrepreneur needs to understand his market. What is the size of the market? Is the market growing or shrinking? What companies are providing direct and indirect competition? Third, the entrepreneur needs to know his customer. What is the customers' demographic profile? What benefits do they receive from the product? How much and how often do they buy? omaha hi lo strategieHow can this data be obtained? Market research is the answer. Many small businesses cannot afford to hire market research firms to gather and analyze information. Yet, with today's technology, information can be gathered and easily analyzed with a laptop PC. The best source of information comes from primary research—information obtained directly from customers, competitors, suppliers, and industry experts. Ask customers for their needs and preferences. Develop and maintain a network of resources within the industry. Monitor your competitors. Another source of data is published information—secondary research. An excellent source of secondary information is industry trade associations. Many have web sites, newsletters, and press releases that are available to non-members. The web sites of consulting firms also provide information on many industries. Check out PricewaterhouseCoopers' and Deloitte Touche. To look for a consulting firm in a specific industry, go to the Monitor Today web site which provides descriptions and links to over 100 consulting and marketing firms' web pages. Go to the Georgia Department of Community Affairs for economic data by city or county. Demographic information is accessible at the Georgia 2000 web site. (Other states, visit State and Local Government on the Net for your state's economic and demographic information sites.) Competitor data, and more, is available at Hoovers' web site. Competitor sites are also a valuable source of data. And, don't forget good old-fashioned paper resources. A wealth of information is available in the Encyclopedia of American Industries, the Market Share Reporter, the Directory of Georgia Manufacturers, and the Household Spending Guide. These resources are available at Small Business Development Centers throughout the state and at some public libraries. So, be "market smart." Gather information about the industry, market, and customer BEFORE making decisions. Call and make an appointment to visit one of the Small Business Development Centers today. A consultant can assist in finding the resources and information needed to make the smart decisions for your company. >alberghi a Amburgo See also Business Research and ERROR MSGDemographic & Census Data | 
