CUG Libraries - Research Techniques: Using Market Research
Developing Your Research: Using Market Research
Market research is focused on current trends in buying and behaviour, which are often extrapolated to indicate what might happen in the future. Whilst it is particularly useful for business and marketing courses, many assignments can be supported in some way by information about how people think and behave.
Market research comes in two main variants: data and analysis. Some platforms focus on one or the other, but most offer a blend of both options.
Why should I use market research?
Up-to-date and evidence-based
Market research datasets and reports tend to be updated every 6-12 months. This means that they often represent the most up-to-date information and expert analysis available on a sector or social trend. Whilst some market research reports do speculate on future trends as well as reporting data from the recent past, this is generally informed commentary based on a solid evidence base. As companies often pay significant amounts for access to market research data, content providers risk losing customers if the product they provide does not remain high-quality; whilst it is reductive to equate monetary value with prestige, that's capitalism for you!
Shows criticality and data literacy
Market research often records behaviours which can be tied to underlying theoretical concepts, and can show how these theories work in practice. Datasets can demonstrate social factors, whilst market research reports and executive summaries can provide a commercial rationale for a social or developmental concept. Interpreting and evaluating data in order to apply it in assignments is evidence of higher-order thinking which is generally rewarded with higher marks.
Local, national and international
Many market research datasets can be filtered or read to look at anything from a global perspective to comparing data between two local areas in the UK. Whilst this varies from site to site, and dataset to dataset, markets tend to be segmented as accurately as possible to allow organisations to target the products and services they offer most effectively.
Preparing for the workplace
Most market research packages are primarily designed for commercial use. Many workplaces will have access to a market research platform, and being able to discuss your existing knowledge and use of these systems in interviews might just be the difference you need to mark yourself out from other candidates.
Where should I look for market research?
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Mintel This link opens in a new windowGood for: Analytical reports, with databook available for most reports. Includes categories relating to health, technology and travel, along with age-related 'lifestyle' reports. Categorised by topic, industry, region and demographics. Reports have named authors for easy referencing.
Coverage: Includes Europe, Asia, Africa and Americas (varies by topic). -
Statista This link opens in a new windowGood for: Coverage including digital, industrial and societal focuses. Reports are centred on factual data with minimal analysis. Includes AI-powered search feature (beta).
Coverage: Worldwide (select country or countries of interest during search). -
Passport Euromonitor (GMID) This link opens in a new windowGood for: Data on economies, companies and sectors. Includes a year-on-year dataset on nicotine and cannabis use.
Coverage: Global coverage, which can be limited to areas and countries of interest. -
IBISWorld This link opens in a new windowGood for: Market information focused on industries including construction and engineering, health, education and arts. Reports are structured into clear chapters with data-driven insights.
Coverage: Includes reports with coverage of UK, USA, Canada. Australia, New Zealand and China.
Getting started with market research databases
Market research databases can feel a little confusing to use at first; each one is also laid out quite differently. If you're comfortable navigating online interfaces, you'll probably find what you're looking for with a little trial and error, but there are also some video guides for each platform on the database tutorials page of the Library Video Hub.
Non-academic use of market research databases
Market research databases will ask you to confirm that your use is for academic purposes before your first use. These databases are provided by Coventry University solely for academic use. Use for commercial or non-academic use is strictly forbidden.