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ECO 607- Managerial Economics.

Course guide for ECO 607- Managerial Economics

Week 3: Market Structure & Regulations

  • Who are your customers?
  • How will you reach them?
  • What advertising/ social media/ etc MUST you have?
  • How will you sell to them? Directly?  Through a Channel?
  • How should we compete in these businesses: product differentiator or cost leader?
  • Is the good dangerous/ environmentally damaging?
  • What good does this good threaten?
  • Does the government have any regulations or policies for this good?
  • What taxes/ licenses/ legal issues exist for it?

What is Market Research? The main uses of market research are: to position a business or strategic programme; to assist in new product or service launches; to evaluate a product or service's strengths and weaknesses which will help determine how to improve a product or service; to determine consumer wants, needs, and desires; to analyse competition. Research can also help to identify new market opportunities for a product or service. (Dictionary of Marketing)

Resources

Statista
Statista is a statistics portal that integrates data on over 60,000 topics from over 18,000 sources in one place. Statistical categories include media, business, finance, and politics. Infographics with popular statistics are available for use in presentations or your research papers. Includes data for market and industry research. 

Data Axle

Database of 24 million businesses with company information, executive titles, sales volume, industry code, and number of employees. Help using this database.

Business Source Premier Publications

Browse by market research reports or industry profiles 

Business Source Premier- Marketline

Browse company profiles 

Mergent Online

Mergent Online offers company financials, descriptions, history, property, subsidiaries officers, and directors. It also includes industry and supply chain information. Best used for large, publicly traded companies. Watch the video below on how to effectively search Mergent for company information and for more information on the database. 

NAICS: North American Industry Classification System
The standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.
US Census Bureau: Search NAICS
US Department of Labor, Bureau of Labor Statistics: Search NAICs

Economic Census

A great source for U.S. economic, social, and demographic statistics, particularly for small areas and local communities. Includes information on the national and local U.S. economy, businesses, and industry data. 

  • View the Library of Congress Small Business Hub on licenses and regulations for small businesses. Licenses and regulations are industry-specific and can be different depending on your location.   
  • Search Data.gov for data, tools, and resources to conduct research, develop web and mobile applications, design data visualizations, and more.