Market research is a critical step not only for global corporations, but also for a variety of small businesses and start-ups. Although it may be tempting to rush into the product development phase as soon as possible, it's important to gather objective data and market analysis in order to build a viable business strategy.

The U.S. pet products and services market is on an upward trajectory, and a variety of pet startups are driving new innovation and growth. With sales reaching $74 billion in 2014, the pet industry is expected to hit $91 billion in 2019, according to a Packaged Facts report. Approximately 56 percent of U.S. households own pets — providing a large, expanding customer base for a range of businesses.

Technology is also opening the door for dynamic new enterprises. Many pet startups are taking business models that have been popular in other industries — such as Airbnb, Skype, and Fitbit — and applying them to the pet industry. Other startups are incorporating health food trends into pet foods, creating new pet-related apps, or providing dog training courses online.

Through Profound, users can access the world’s leading business intelligence providers in one convenient platform. With more than 200 publishers across 700 industry sectors, Profound offers a vast array of market research reports to choose from.

In this new blog series, we’ll give you an inside look at specific publishers on Profound. You'll have the opportunity to learn more about the reports they publish and what differentiates them from other publishers on the market. Today, we’re interviewing Plunkett Research, Ltd., a provider of industry sector analysis, trends, and statistics. Find out more in the Q&A below.

In today’s competitive, fast-paced business environment, you need to move fast and tackle challenges quickly. Partnering with a high-quality market research provider can help you find the answers you need to grow your business while saving time and money. But how can you accurately assess a market research provider’s services and offerings? There are a variety of different factors to consider. In this blog post, we highlight six key qualities to look for in a market research provider. Read on to learn more.

Macy's just announced it will be closing 35-40 stores in 2016. This will likely mark the slow, steady progression toward death for the malls to which those stores are attached. But maybe the closure of these Macy's stores is a symptom of a deeper problem in the mall shopping experience, not the cause of the malls' failure.

Today, shopping malls are becoming twenty-first century ghost towns. Since 2010, more than two dozen enclosed shopping malls have closed, and an additional 60 are on the brink. By 2025, an estimated 15 percent or more malls will be closed or repurposed, according to projections by Green Street Advisors. 

Market and competitive pricing in the B2B sector is often a challenging area for many market researchers to tackle. Actual pricing information is difficult, if not impossible, to discuss using traditional interview techniques, as this information is considered highly proprietary. Often, pricing is not a straightforward matter as it may incorporate early payment discounts, freight, volume discounts, change orders, interest, or other finance charges and many other variants.

As schools gradually shift away from print products and move to innovative, technology-based formats, a new digital evolution is occurring in the classroom. In the U.S., growth in the number of schools, implementation of modern technological devices, and new standards and tests are all major factors contributing to the increasing demand for digital instructional materials. 

Key players in the auto industry are facing new challenges and opportunities that could shake up the U.S. market in the months and years to come. Volkswagen’s sales showed tepid growth in the wake of the emissions-cheating scandal, while Subaru set new sales records in the month of September. Meanwhile, tech and auto companies alike are vying for position in the self-driving and electric car markets. Apple plans to release an electric car in 2019 and is tripling its 600-person team to accelerate its efforts. General Motors is competing with Google in the self-driving car arena and plans to test driverless Chevrolet Volts by late 2016. To learn more, read the auto industry recap below.

Whether you are writing a business plan, making a pitch to investors, or launching a new product, market research is an essential first step. For small businesses, in particular, keeping costs down is an ongoing priority. Fortunately, there are a variety of creative ways small businesses can access the information they need without paying too much. Take a look at the following five strategies for some ideas.

“Experiential education is all the rage,” observes Steven Mintz, executive director of the Institute for Transformational Learning, in a recent article for Inside Higher Ed. From internships to study abroad programs to service-learning projects, universities are offering a wide variety of hands-on learning opportunities for students.

The experiential education trend is partly driven by demand from employers. According to the Association of American Colleges and Universities, 79 percent of employers would like colleges to place more emphasis on internships and field experiences in order to help teach students critical thinking skills. Currently, more than half of all college seniors have engaged in experiential learning activities such as a practicum or internship.