Bring yourself up to speed by starting with a market or industry report. These secondary research tools define catagories (sometimes not precisely as you would wish), estimate market size and growth potential, describe the competitive forces impacting the industry and identify key players.
This First Research report on Automotive Parts & Accessories Stores is a good example.
Take advantage of the links to trade news and associations to learn about the most recent developments. Aftermarket Business World is an example of a trade journal that has current news about topics relevant for Turn 5. The Specialty Equipment Market Association is another.
Update the category reports by systematically searching for news & developments in general business databases.
Categories covered by Turn 5 include automotive aftermarket, automobile accessories and e-commerce.IBISWorld
The first step in the competitor analysis is to choose relevant competitors. The industry reports, news you've gathered in the category analysis and the case itself should provide insight into firms competing in your defined market.
Once you have identified potential competitors reading company profiles and reports (see the list of databases below) will be helpful.
Of course your'll scour your competitors web sites, but don't neglect looking over 10K's or annual reports for public companies.
Note that reports and data on private companies or subsidiaries may be sparse, so you may need to rely on news and analysis of their web sites and the typically minimal information provided by the private company databases.
Just as you updated industry reports with news, do so for the competitor analysis.ReferenceUSA
Market research reports are rich sources for understanding consumer behavior around product categories. Mintel is particularly useful for understanding target customers such as millennials or baby boomers.
Scholarly research (discoverable through ABI Inform, Business Source Premier & PsycInfo) on "consumer behavior" "consumer attitudes" purchasing or "decision making" or car enthusiasts and do it yourselfersmay not always be timely but is typically reliable.
Crafting a marketing plan is primarily a creative project. Nontheless, expect to be able to defend your marketing recommendations by referring to studies and cases evaluating similar techniques. You can find "how to", practitioner advice and rigerous reseach on marketing topics in books and articles discoverable in the following databases.Falvey Book Search
These are key business database give you access to general business news found in mainstream publications and academic research journals. Search them for articles about marketing techniques, category trends, competitor developments and more.ABI/INFORM Complete (ProQuest)