Glossaries - Report Companions: Market Research Edge - Sales Class Trends

1. Sales Class statistics tell a different aspect of the sales and sales growth story than either Market Volume data (Market Research Edge #2) or Average Sales Statistics (Market Research Edge #7).

2. BizMiner's national and metro Market Research Profiles break out sales class data for two different groups of firms and in two different years to develop a trend comparison: all industry firms and "survivors", firms which were already in operation in the first year of analysis and maintained operation through the end of the time series. The "all firms category" includes firms which are new to the market (because of age or relocation) in the interim.

3. While average sales data points to broad local or national industry firm trends, and Market Volume statistics offer market scale information, the Sales Class tables show how growth has been concentrated among firms in an industry. This information, in turn, deepens your assessment of whether to target an industry or area - or just a few firms in it.

4. By looking at the Sales Class tables, it is also possible to see whether growth is coming from longer-term firms (the "survivors") or newer entries into the market. Since the Sales Class tables break out the change in sales patterns, the concentration of leaders and laggers in each segment can be ascertained more specifically.

5. Sales Class data also lets you see how the composition of the industry is changing. Are large firms taking over? Are smaller firms holding their own? The answers can inform your targeting efforts, both local and national. Once your targets are identified, follow up research can include obtaining lists of those that fit all of the specific sales class criteria derived from the Profile analysis.

6. Conclusion: Differentiating industry and area sales targets by segment are critical to the sound marketing research and a solid marketing plan. Sales Class data segmented by industry group and size, geographical area and firm maturity (survivors) are key to your analysis of industry customers and competitors. Sales Class data provides another key tool to honing the focus of your marketing plan.

Sales Class 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.