As one decade draws to a close, predicting what’s to come in the next can be challenging. While the US-China trade war continues to sow uncertainty in global markets, there are signs an end may be in sight. Though earlier this year brought warnings of a recession, economists now say the US is likely to avoid one.

Generally speaking, value chain analysis typically includes two types of ventures:

• Firm value chain analysis (often referred to as Porter Value Chain Analysis) examines internal company practices and their optimization relative to creating value for customers.
• Industry value chain analysis involves examining the various stages of a product’s production, from raw material procurement all the way through the final purchase by end-users.

Kyle Peters is an Industry Studies Manager with The Freedonia Group, a division of MarketResearch.com, where he leads a team of analysts focused on the vehicles and equipment and chemicals sectors. Throughout his 7+ years at Freedonia, Kyle has authored over 40 studies, and his research has been cited in numerous trade journals, as well as in publications like The Wall Street Journal and Bloomberg Businessweek. Kyle was also featured as a panel speaker at the 2016 Ceramics Expo, moderating a discussion about next generation refractories.

Tracking down corporate information can feel like searching for a needle in a large haystack, especially if you're dealing with a small private firm with no history of public disclosures.

Market research publishers like The Freedonia Group, Packaged Facts, and Simba Information – all divisions of MarketResearch.com – employ business intelligence analysts that are trained to source and verify high-level company research, dedicating weeks of time and effort to ensuring their competitor data is top notch.

Many companies have strong corporate libraries, and MarketResearch.com continues to support the information professionals that run these valuable services. However, not all firms have the luxury of a corporate library, and others have thinned out their staff in these departments to reduce overhead expenses in challenging business environments.

Do most people really know what market research is and how it is produced? The term "market research" may sound self-explanatory, but it can be interpreted in many ways, and there is no shortage of myths and misconceptions about the field.

In the blog post below, industry analysts at The Freedonia Group, a division of MarketResearch.com, share some of the biggest misconceptions they’ve encountered about market research. Read on for their viewpoints.

In a recent letter to Amazon shareholders, Founder and CEO Jeff Bezos said consumer feedback didn’t lead to the development of Amazon’s popular Echo device.

“No customer was asking for Echo,” Bezos wrote. “This was definitely us wandering. Market research doesn’t help. If you had gone to a customer in 2013 and said ‘Would you like a black, always-on cylinder in your kitchen about the size of a Pringles can that you can talk to and ask questions, that also turns on your lights and plays music?’ I guarantee you they’d have looked at you strangely and said ‘No, thank you.’”

Market research can be a significant investment, but it’s one that many successful companies choose to make again and again.

Why is market research important, and how does it help companies make better business decisions?

When it comes time to make an important business decision or implement a strategic plan, companies often turn to a toolbox of resources to help determine the best possible course of action. One of the most important tools in this box is the market analysis – an assessment that incorporates both quantitative and qualitative data in order to paint a clear picture of the tangible and intangible factors at play in an industry.

One of the many challenges of running a successful business is that markets change. It’s natural: Tastes shift, technology advances, and the consumers you target today may look and behave differently from those in the market tomorrow.