Doing Your Research

Researching the Industry

Your goal here is to gain an understanding of how the overall industry works.
You'll discover trends, important players, competitors and customers that you
can then investigate in more depth.

Information on an industry comes from two main sources:

• published data; and
• interviews.

The easiest way to begin is by collecting all the published information that's available. This will enable you to build a base of knowledge before you attempt to contact anyone directly.

Your starting point should be with the industry associations. They can often provide:

• a list of participants;
• leads on published information;
• general impressions about how the industry functions;
• key factors for company success; and
• important industry trends.

A word of caution: industry associations are more likely to help members than non-members, and they may share what you discuss with them among members who are potential competitors.

If you already have a business, you might want to consider joining the associations (there are many benefits beyond gathering information). An introduction from a member may also be useful in gaining the association's cooperation.

An excellent source for agri-food industry associations is:

Food in Canada
(food industry associations, events and trade shows)
Jan/Feb Guide Book Issue
Tel: 1-800-567-0444

Narrowing Your Search

Once you have collected background information from the industry associations, you're ready to refine the topics for your search. All of the organizations that specialize in information can help you complete a narrower search. This might include:

• industry profiles and studies;
• annual reports of publicly held participants;
• articles and newspaper clippings about the industry or participants;
• company directories;
• company documents;
• trade magazines; and
• Statistics Canada information.

The government-publication section of your library is a good place
to start. Here, you can see if any reports have already been done on
the industry. You can also look at specific market information such
as food consumption habits, consumer price indexes or income groups.
This type of information will help you determine potential target markets
or product demand.

Libraries

Some libraries specialize in government publications. You'll find a list in the Resources
section of this guide.

Databases

A vast amount of information about new research, consumer surveys, business trends and developing technologies from all over the world is available on a wide variety of databases.

You can access some of these yourself at a library or on the Internet. Others are available through data services, most of which charge on a fee-for-service basis.

In order to get the most relevant information, make a list of key words that describe the
industry, the participants and the topic in question. Key words can include (but aren't limited to):

• company names;
• industries;
• products;
• topics;
• individuals;
• locations.

As you go through the information you have gathered, take notes and be sure to reference them. This will reduce your need to reread the material, and help you avoid the frustration later of trying to find where a piece of information came from.

You should also look through each source for references to other published sources and names of people to interview.

The Resources section of this guide includes on-line data sources.

Trade Journals

Trade journals and magazines can be a useful source of information. Some of these publications are general, while others are specific to the food industry or a sub-sector such as dairy.

You can get journals by subscription. Many libraries also carry them. For a list of trade journals, see the Resources section of this guide.

Also, check industry association newsletters; they provide information that you may find of value.

Field Research

Once you have a basic understanding of published information, it's time to go out and start talking to people. Field research can give you more specific information than you'll get from published sources.

As you do your field research, make a list of the trends that you see, both positive and negative.

You should also try to establish who competes in the food processing industry and for which customers. This will help you identify your company's own standing in the industry, as well as who to watch out for.

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