Step #1-- Industry Overviews
These sources provide brief histories, current conditions, major companies and some quantitative data. No single source provides all of this information, or covers all industries. You may need to look in several sources. Information may be arranged alphabetically or by NAICS or SIC code number. Search NAICS for a code.

ON THE Web...

• Mergent Online | Click Industry Reports
  • Select an industry, e.g. Hospitality & Tourism, Food & Beverage, etc.
  • Select North America or Any Region
  • Search
    
    
• NAICS  (the North American Industry Classification System.) (Also in print at BST 2B #10)
  • Enter industry keyword and search 
  • See main products, services and segments of the industry; link to industry-wide economic data. 
  • Use NAICS and SIC codes to locate your industry in  books and online sources. Four digits is usually enough. For example,
    • Casinos are in 7132(10), casino hotels are in 7211(20 )
    • Fast food restaurants are 7222(11);full service restaurants are in7221(10)
    •  Convention & trade show organizers are in 561920; promoters of events like concerts, festivals and fairs are in 7113
  • Read more about NAICS

IN THE LIBRARY...On Business Services Table 2 B

• Standard & Poor's Industry Surveys (BST 2B #1) updated quarterly
• Encyclopedia of American Industries - vol. 2, Service Industries (BST 2B#3)
• Encyclopedia of Emerging Industries (BST 2B #4) 
• Trends in the Hotel Industry 2001 (BST 2B #42) 

For example , the Travel Industry Association of America provides a good overview of the industry through its Research, Press Room, and Tourism Awareness links, and the Professional Convention Management Association (PCMA) provides technology, industry research and professional information plus press releases.

Other potentially useful Association web sites: 
Ad Age Dataplace (advertising and interactive industries)
Convention Industry Council
Outdoor Industry Association
National Restaurant Association
Successful Meetings: State of the Industry Report | Biennial - next one due January 2005.
TSEA: Trade Show Exhibitors Association
ValuationResources.com Industry Resources Reports includes both free and fee-based materials. Recreation businesses are found in the Transportation and Personal Businesses & Services Categories, arranged by SIC code.

You can also find associations by searching Google or using these sources:

• Gateway to Associations (American Society of Association Executives) 
• Associations Directory (Marketing Resource Center)
• Encyclopedia of Associations (HELD AT REFERENCE DESK, HS 17 E58)
• National Trade & Professional Associations Directory (HELD AT REF DESK,  HD 2425 D53)

Articles in news and trade publicatons can provide details about specific industry conditions and legislation affecting an industry. Articles about companies within the industry can provide clues to industry trends by discussing a company's marketing strategies, revenues, demographics, etc. Search in Factiva, ABI/Inform or Lexis Nexis , using the strategies suggested below.

Use Factiva / Industry Search to find articles providing an industry overview or statistical data.
FOLLOW THESE STEPS:

• From the Search Builder screen select Industry. Click the +
• Browse the available choices. Click the + to see more industry segments.
• Continue until you reach the level you want to search
• Click the triangle to paste the code for your selected industry into the free text search box
• Combine the code with "narrowing" terms like industry overview or statistical data or other specifc words
  • FOR EXAMPLE: in=i665 and industry overview (in=i665 is the code for the lodging industry)
    

Use ABI/Inform  / Basic Search

• Combine industry words with trend-related words such as
  "industry-wide conditions" (enclose phrases in quotes),trends, forecasts, innovations, prediction?, future, etc.

  • Example: tourism and "industry-wide conditions."

• Combine industry terms with law-related words such as
  legislation, regulation, "state laws," "federal legislation,"
• Example: airline industry and regulation

 

Lexis Nexis Academic A large news and business database with full text articles.

• A - To search over 100 business news sources,
  • Select the "Guided News Search " tab.
  • Select "Business News"
  • Select "Industry News"
  • Enter keywords and date range
  • Click "Sources" if you want to see what sources will be searched
    
    
• B - To search a select list of industry-specific sources,
  • Select "Business" from the Academic Search Forms column (left side of main L/N screen.)
  • Select "Industry & Market"
  • Choose an industry from the drop down box (e.g. Leisure, Travel, hospitality leisure)
  • Enter keywords
  • Click "Sources" if you want to see what sources will be searched. Articles will usually be very short.
    
    
• C - To search about 50 major U.S. and international newspapers
  • Select the "Guided News Search " tab.
  • Select"General News"
  • Select "Major Papers"
  • Click "Sources" if you want to see what sources will be searched

Step #4 : Find data in tables and charts.
Use Table Base, A compendium of charts, graphs and statistical data from over 1000 business and industry sources. Table base provides the data and cites the source. Sometimes the full text of the article containing the chart is also available. PATH: ReSEARCH Station / Articles & Databases / letter T

 

Step: #5 -Market Share Printed sources
Use these sources in addition to articles and reports in the Trade  News & Articles section (step #3)

• Market Share Reporter (BST 2B #21) 
• World Market Share Reporter (BST 2B #53)  

Step: #6 -Starting a business / Comparing performance with competitors
When starting a business or comparing a company's performance to competitors, you will need sample financial statements, also known as "industry norms " or " operating ratios". These are found in printed sources known as "ratio books" (or online for a subscription or fee).

Use the following sources, on Business Services Table 3A.

•  RMA Annual Statement Studies (BST 3A #10)
• Industry Norms & Key Business Ratios (BST 3A #31) 
• Almanac of Business & Industrial Financial Ratios (BST 3A #40)
• Financial Studies of the Small Business (BST 3A #29)
  

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This document is maintained by Barbara Pease
Last updated 09/03/2004