Our group is working on our first project for Hank's and we need some help using the research tools you instructed us about. We are having trouble finding the major players (direct competition) and their relative strength in the functional beverage industry. Can you please help us find the correct sources? Thanks so much!
Thank you for writing:
Hank's, as you know, makes beveragesâ€¦ so they have to fit into an NAICS / SIC code for American Businesses.
So, my first step:
Goto the Census website (http://www.census.gov) and click on "NAICS" in the middle of the pageâ€¦
Enter "Soft drinks" into the 2007 NAICS code finder and you will get this result:
So, from that link, you will see that the NAICS code for all companies, public or private, large or small, in the USA is 312111. You can double check the definition by clicking on the number to get to this link:
Now, you have a code. The next steps:
1. Take that code and goto Lexis Nexis
2. Click on the Business tab at the top of the screen
3. Select company profiles.
4. enter "312111 and soda" in the Keyword section, leave the rest blankâ€¦ you should get 64 companies that might be in competition with Hank's.
MarketLine, the database, does not have a report on Hank's, but they do have reports on Coca-Cola and other softdrink vendors. These will show you some competitor names as well.
I also went to ABI/Inform and did a search for 312111 (the Naics code) and various other terms, like Gourmet, and discovered this excellent article which will also give you many competitor (or potential competitor) names (see citation below and use ABI/Inform to find the text). There are many ways like this to ID competitors. Another way, simply, is to goto the store and see who's on the shelf next to Hank's. If you choose that option, make a long list and use out databases to verify that the names are valid competitors. Your professor's want citations, so anywhere that you use personal observations must be supported with research.
Greg Edwards (2006, March 1). Gourmet Sodas See Sales Success, Fueling Deal Talk. Wall Street Journal (Eastern Edition), p. B.3D. Retrieved June 30, 2008, from ABI/INFORM Global database. (Document ID: 995762671
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