Glossaries - Report Companions: Market Research Edge - Average Company Sales
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.