BizMiner
Market Research Edge #7 Using Average Sales Data
to Assess Growth
1. Average Sales statistics tell a different aspect of the
sales and sales growth story than either Market Volume data
(Market Research Edge #2) or Sales Class Statistics
(Market Research Edge #8).
2. BizMiner’s national Market Research Profiles break out average sales data for three
different industry segments: all industry firms, small businesses
(25 employees or less) and startups (one year or less in
operation).
3. Metro Market Research Profiles
compare national average sales data against local firms
in the same industry.
4. In addition to industry “snapshots”
(averages captured for firms at a particular point in time),
Market Research Profiles also offer “survivor”
average sales data, which compares sales growth among firms
which were already in operation at the start of the analyzed
time series in each profile with those who more recently
entered the national or local market. The difference in
sales change between the average “snapshot”
and the survivors can be an instructive way to gauge longer
term market viability of firms.
5. Average sales volume and growth patterns
may differ radically among segments. Accessing those differences
allows you to target segments most compatible to your marketing
research needs and incorporate those targets into your marketing
plan. For example, if your competitor small businesses fare
poorly compared to larger firms, market penetration may
prove difficult. If local firms do better than national
average sales benchmarks, the area may possess characteristics
important to industry success – and warrant more attention.
6.
Conclusion: Differentiating industry and area sales targets by segment are critical to the sound marketing research and a solid marketing plan. Sales data segmented by industry group and size, geographical area and firm maturity (for example, startups and survivors) are key to your analysis of industry customers and competitors. Average sales statistics (coupled with multi-year segment trends) provide another key tool to honing the focus of your marketing plan.
Average Sales tables are included
in every one of BizMiner's 900,000 online Market Research
Profiles, available for over 15,000 business segments. Market Research Reports are available in both national and local
versions covering over 250 US metropolitan areas.
Available online at www.bizminer.com/market-research-report.asp.
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