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IN THIS ISSUE:
| Bulletin Archive | |
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FROM THE EDITOR
We’ve launched a new tool on bCentral and I’m eager to hear what you think of it. The new tool is our Product Line Planner, and it’s designed to help you benchmark your business against industry averages, understand your distribution channels in greater depth, and discover opportunities for co-promotions, branding, private label programs, and more. In the “Tool Bits” column in this issue you’ll find more about the Product Line Planner. Read on! But meanwhile, let me share with you some thoughts brought on by our recent surveys in this newsletter. June’s survey on topics for upcoming issues points me toward "using direct mail effectively", among other topics. July’s survey asking "what marketing books you’ve read recently" shows me positioning and branding topics intrigue you. These are related. How? Effective use of direct mail requires targeting market niches, and positioning/branding are strategies for communicating with target niches. Bottom line: Target marketing strategies are the best response to today’s tough economic climate. Summer Reading (Continued)
I’ll take on "using direct mail effectively" in September’s issue of the
Bulletin. In the meantime, here are your reading assignments. (Thanks,
survey respondents, for your suggestions!)
TOOL BITS
Product Line Planner new on bCentral Market Research Tools
Manufacturers are asking...
How it works Two types of report are available, one views the data by product line and the other by kind of business. Click on the hot-linked codes in the left column to switch from one view to the other. All reports are free during this introductory period, so click away! "Product Lines Sold by Kind of Business" produces a table of product lines carried by the kind of business selected at the entry screen. Reported for each product line is the number of establishments (in the selected business category) selling the product line, sales of the product line at the establishments, total sales at the establishments, sales of the product line as a percent of total sales at the establishments, and sales of the product line at the establishments as a percent of total sales at all establishments in the selected business category. "Kinds of Business selling Product Line" produces a table of business categories carrying the product line selected at the entry screen. Reported for each kind of business is the number of establishments selling the product line, this product line’s sales at the type of establishment, and the sales as a percent of total sales at all establishments for the selected product line. Data source: Know your NAICS The data source for the Product Line Planner is the Merchandise Line Sales data from the 1997 Economic Census. The U.S. Census Bureau profiles the U.S. economy every five years. All businesses are required by federal law to complete the Economic Census Survey. As a result, this data is not based on a survey sample but represents actual economic activity as reported by respondents. Reports are available for any state or aggregation of states. The organizational structure behind the data in this report is the North American Industrial Classification System, or NAICS, which replaced Standard Industrial Classification (SIC) in 1997. NAICS is a numerical code system used for classifying establishments by type of economic activity. Industries are classified by a 5-digit code fixed by the international NAICS agreement. For some uses subsequent digits are appended (up to 8 in all) but this tool relies on only the first five.
In "Kinds of Business selling Product Line" reports, the data is displayed at all four levels within this hierarchy for broad product lines and at the lowest level (5-digit) for more specific product lines. Take into account the NAICS structure as you study the data in this report. What will the Product Line Planner do for you? If you’re starting up a business, use this tool to assess potential product lines and profits. Study distribution patterns by kind of business or product for any state. If you sell to other businesses, use this tool discover ways to help your customers sell more through co-branding, sales promotions, and more. If you sell directly to consumers, use this tool to discover and understand competitors (both direct and indirect), to spot product lines you could add to broaden your merchandise mix, and to discover opportunities for co-promotion. And if you discover other uses, let me know! I’m still exploring the powerful connections and insights this tool reveals. | |  | |
SURVEY
What would your inquiring minds like to know? E-mail me your suggestions for future surveys. We have over 3000 readers now; let’s find out what’s on your minds! Tell a Friend
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About Third Wave Research
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Use PowerPoint More Effectively I’ve heard from readers and others—we all wish we knew how to use PowerPoint more effectively. I recommend a new essay by Edward Tufte entitled The Cognitive Style of PowerPoint, available from his website for $7. "Imagine a widely used and expensive prescription drug that claimed to make us beautiful but didn’t. Instead the drug had frequent, serious side effects: making us stupid, degrading the quality and credibility of our communication, turning us into bores, wasting our colleagues’ time...” Imagine where the feisty and opinionated Tufte takes it from here! If you’re not familiar with Tufte’s work, it’s time to fix that. Tufte writes, lectures and publishes on analytical design, for which he has received over 40 awards. He is Professor Emeritus at Yale University. His one-day workshops are a thinking person’s delight. Customer Characteristic Analysis Could you use a mailing list that improves your targeting by 30-80%? Third Wave Research offers a service that takes the names of your current customers, merges and matches them with our master database, and finds thousands of new prospects who look like your best customers. Start sending less mail and getting more results. To find out more, click here.
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