LibGuides: Business Principles of Management (Assignment Guide): Market Research: Reference Solutions and RAB Databases

ReferenceSolutions - Tutorial #1

Databases: ReferenceSolutions

up-to-date business and consumer data
- employment by job skills, location, and industry
- national companies and business executives
- historical market trends
- addresses and phone numbers
- news articles for research

Answers these questions about business research:

What is the organizational structure?
Do you know who you are selling to?
- Which demographic?
- What market?
What is the industry and growth potential?
Who is your competition?

ReferenceSolutions
A premier source for business and consumer research data. Contains detailed information on over 15 million companies and over 260 million consumers. Every record can be exported to spreadsheets. A great source for entrepreneurship activities, marketing projects, demographics research, and students seeking employment.

ReferenceSolutions - Tutorial #2

ReferenceSolutions: U.S. Businesses Database
Provides in-depth information about U.S. Businesses Database including how it's compiled, how to find and use the information it provides. Includes charts, screenshots and other visuals. (23 pages)
ReferenceSolutions: U.S. Consumers/Lifestyles Database
Provides in-depth information about U.S. Consumers/Lifestyles Database including how it's compiled, how to find and use the information it provides. Includes charts, screenshots and other visuals. (15 pages)
ReferenceSolutions: Jobs and Internships Databases
Learn how to search for a job or position using this database. Includes charts, screenshots and other visuals. (9 pages)

Database Reference Solutions: search 1 of the 3 different databases within Reference Solutions

U.S. Businesses
U.S. Consumers
U.S. Jobs/Internships

1. U.S. Businesses

Search for individual businesses and/or executives or for groups of businesses, such as "coffee shops." For a more detailed explanation.

2. U.S. Consumers/Lifestyles

This database allows users to search millions of individuals. In this module you can search by lifestyles and real purchasing behaviors of these individuals. Lifestyles selections are real purchasing behaviors of the individuals over a 2-year period. There are more than 100 unique lifestyles selections broken into several main categories such as Apparel/Fashion/Beauty; Cooking/Wine; Health/Diet/Fitness; Pets/Animals; Politics/Religion/News; Sports; and more.

3. U.S. Jobs/Internships

Job listings are compiled from indeed.com then cross-referenced with ReferenceSolutions U.S. businesses listings. Do a Quick Search for a job or an Advanced Search to narrow by position, company, location, etc.

Example: Using Reference Solutions for Market Research

Sample Business: Mainstream Boutique (Onalaska)

A good place to start to research a market is with the company's website. Mainstream Boutique's website provides good clues about their market segment in general or nationally.

This information can be found on their Home Page - Our Story. Take note of the clues you find on business's homepage. Look for "About" or "Mission" or any keyword or phrase that will describe the purpose and goals of the business. For Mainstream Boutique, I see "family" as a target market for both franchisees and customers.

Keyword "family" used frequently on Mainstream Boutique "Our Story" web page

This is a good starting point for researching the Onalaska location. Start by linking to their Facebook page and Instagram. Look at posts, videos, and reels. The website and social media provide anecdotal information.

For data-based information you can use the database ReferenceSolutions. I've attached some screenshots to show what steps to take to search the database to make decisions about your market segment based on the concept of "family" and the price point for Mainstream Boutique's clothing.

From Reference Solutions Home Page - choose Consumer Lifestyle Automobile Database

Next, select the Advanced Search tab

Next, choose the filters that will return the results you need to understand the market segment.

I based my choice of filters thinking about "family" and "price point" for Mainstrean Boutique in the Onalaska Metro Area:

Follow these steps - one at a time - for each filter

choose one main filter (red arrow) in the left column
choose a subfilter (green arrow)
UPDATE COUNT (orange arrow)

When you have completed the filter process click VIEW RESULTS

diagram of chosen beneath text about filters

On the next screen, click the Matrix Tab then choose from drop down boxes - Children Present and Income - and check Choose Output Rows/Columns.

Follow these steps - one at a time - for each filter - choose one main filter, in the left column. choose a subfilter then choose UPDATE COUNT

Use the data in the chart below to figure out your likely customer segment. Think about is mostly likely to be able to afford purchasing clothing at Mainstream Boutique.

Video Tutorial: RAB Instant Background Databases

RAB Instant Background
Use the RAB (Radio Advertising Bureau) tools to track down marketing statistics for a variety of companies in business and industry. Find out how to access our subscription here or you can contact a librarian for access information (chat, phone, or email).