Tag Archives: trends

Marvellous Mintel Market Intelligence [e-resource of the week]

About Mintel Market IntelligenceTV and radio pundits regularly preface business items on the retail sector, and in particular our shopping habits, with the statement

“according to market research company Mintel…”.

Now something of a byword for market research, Mintel began trading in London in 1972 and grew from its small UK base, covering just the food and drinks industry, to become the global player it is now, covering the full monty of market sectors from PCs to pets, digital to diet trends, soup to spectator sports and more.

Market research fleshes out the often very dry, complex statistical data on what and how we buy, giving a detailed picture of our current likes and dislikes, with the aim too of predicting future preferences, information further broken down according to certain defined demographic groupings, ie: age, sex, socio-economic background etc., potentially providing you and your business with the information necessary to tailor your product or service to the prevailing markets, all the while keeping a necessary eye on future trends.

A quick look at Mintel’s methodology or its ‘How it’s done’ pages reveals just what makes it special. Its consumer and market profiling is the result of painstaking research including conducting original face to face & online interviews, consumer and industry surveys, detailed analysis of government, consumer and trade association statistics, manufacturer sponsored and company reports and accounts, directories, global news articles and more. From this we get a glimpse of just what makes Mintel reports worth consulting and quoting.

Mintel’s website is colourful and a joy to navigate. As well as topical ‘What’s Hot’ briefings on newsworthy items, i.e ‘Tracking the mood of the nation’, ‘Re-educating female drinkers is the key to reviving sales of red wine’, (I’ll drink to that), each individual report has a menu bar of user-friendly headings covering internal and broader market issues, competitive context, market strength and weakness, size and forecast. Reports also cover companies and products, brand communication and promotion, channels to market and more. You will also find news updates on markets and companies, together with individual company profiles. Information presentation is clear with easy linking to and between relevant sections, making what can seem like effortless navigation and understanding, with the option always to go into more detail.

In fact Mintel is marvellous. If you want to impress with your market research, then you really should put some Mintel into it because if  you haven’t heard of it, you can be sure the people who count in the business world and beyond have.

Mintel reports can be hard to find – fortunately for you and your business they are available at Westminster Reference Library Business Information Point. Visit us to find out more.

[Eveleen]

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e-resource of the week: Keynote

MarketAs any business advisor or successful entrepreneur will tell you, businesses begin well and then thrive on market research. In the manner of a detective or indeed spy, gathering intelligence on markets and industries is essential to ensure sustainability and spot new opportunities and trends.

Such intelligence can indeed make or break a business. With Keynote, you have access to a huge range of market reports providing key information that will impress those reading your business plan or considering investing in your business idea or company.

Keynote claims to be easy to use and it does not lie. The overall presentation and search facility is excellent, tailored  to the researchers perspective in a way that makes it very popular with those new to researching markets and more seasoned researchers.

Whatever market you are interested in, be it toys, tyres, teenage magazines, toiletries, textiles or the timber trade, Keynote will provide a detailed assessment of the current situation including market size, background, competitor analysis, sector leaders, buying behaviour & trends, forecasts and more – all fodder for your business plan and future business strategy. Focusing on the UK markets, each report very usefully includes an international or global market perspective.

Niche industries that often fall outside the radar of other market intelligence providers are also covered, a real bonus for those needing information on the art & antiques market, media sponsorship, public relations, childcare or contact centre industries to name but a few.

Looking for inspiration? Casting your eyes over current market trends could spark a new business idea or indeed, nudge you to change it altogether. Why not? Markets, like ideas, are fluid and subject to rapid change in light of new information – with Keynote you can keep up-to-date with all the market issues that could affect your business, product or service.

Keynote have recently enhanced their comprehensive market research provision to include detailed company information on over 7 million UK companies, including  company overviews, information on directors, shareholders, financials and more, making it a very useful one-stop-shop for business information. One of our In-House Specials and available at all Business Information Points why not visit your local BIP and explore Keynote for yourself? It’s pitched perfectly to impress.

[Eveleen]