As the name suggests, a market study involves research and documentation work. Desk Research (documentation activity) is the starting point in Marketing. But what are the most suitable sources for obtaining relevant information?
The Internet – a gold mine
Because the trend is for information to be digitized, the Internet is becoming the primary resource.
The advantages of digitizing data and information are obvious: easier to manage, easier to find, minimal storage costs, and most importantly, information is easier to correlate and aggregate.
The Internet is a tool, and like any tool, it is important to use it correctly to get the best results.
Because it is a place where communication happens freely and many have access, the sources found may not always be reliable.
For this reason, we recommend caution when using information found online.
Without being exhaustive, we aim to review some of the online databases that, in our experience, have a vote of confidence.
National Databases
Government Institutions and Agencies
National Institute of Statistics
The country’s best-known research institute provides databases and metadata from Romania. From demographic data to turnover, import-export reports, and average monthly earnings, everything can be found on the online platform.
Government of RomaniaData.gov.ro is the Government of Romania’s portal that brings together datasets from 77 Romanian institutions, including ministries.
National Trade Register Office
The institution offers official statistics regarding commercial companies in Romania (activity status, strike-offs, insolvency, shareholding, etc.) and information about the legislation governing the business environment.
National Agency for Fiscal Administration
ANAF is trying to be increasingly transparent. In this regard, it publishes fiscal information regarding Romanian companies.
Associations and NGOs
Often, associations conduct their own studies and provide information from a specific market sector.
Trade Associations publish statistics, surveys, and reports from specific manufacturing or commercial branches.
Chambers of Commerce are non-governmental organizations found in major cities in Romania. They are an excellent source of information when you are interested in territorial breakdown, but not only.
Consumer Protection Organizations
In Romania, there are several such organizations. They publish or provide, upon request, retail prices and consumer studies.
Financial Analysis Platforms
RisCo is an online tool that offers the possibility to obtain reports on the financial and legal status of companies registered in Romania.
Creditinfo.ro provides tools that allow risk analysis with the aim of responding to frequent changes in the business environment.
Termene.ro is a very helpful tool when performing, for example, a competitor analysis. You can check who the associates and administrators of a company are and also find out their connections with other companies.
The platform offers information about active companies, their associates and shareholders, the share of participation in companies, and balance sheet information (turnover, profit, assets, employees).
Other Market Research Institutions
Profile agencies publish market reports and studies for certain industrial branches and conduct studies for individual clients.
International and European Databases
No, we are not a spy agency, just a Marketing one. However, we share with secret agents the desire to be informed and up-to-date with what is happening in the world economy. The CIA publishes data and statistics that provide an overview of the economies of all countries
European Union Open Data Portal
The portal aims to promote innovative use and capitalize on the economic potential of data. You have free access to over 8,900 interconnected datasets.
Eurostat constantly publishes comparative statistics at the EU level.
It offers public opinion analyses at the European level. Within the platform, there are reports on consumer eating habits, insolvency statistics, and information about the European single market.
Press Publications
Press publications, both national and international, contain commercial, financial, and political news. They allow us to find out the latest news without huge efforts. Our partners in this regard are Wall-Street Romania.
Other profile publications: Ziarul Financiar, Adevărul – Economy section, Business Woman, Business Magazin, Money, Business Insider, Harvard Business Review, The Economist, Forbes.
Books and scientific databases
Although the Internet may seem like a real gold mine, we, as specialists, do not stop here. Some information has not yet been digitized and, therefore, can be found in physical format at some of the organizations mentioned above or in libraries, archives, or banks.
Scientific databases can be accessed from library computers, or from a personal one if a fee is paid. Two such publications are American Marketing Association and Journal of Marketing Management.
Some scientific journals can be accessed for free through an adaptation of the Google search engine. Google Scholar helps you find reliable information from hundreds of thousands of books, articles, theses, research papers, and university publications.
Primary information
Market research often requires the use of primary information. Because they cannot be obtained in any other way, they are collected from primary sources. Information from these sources is obtained directly, through contact with the market, via interviews, focus groups, or opinion polls.
What does a well-documented Market Study look like?
The list presented includes only some of the documentation sources that our specialists use. Beyond knowing where the information is found, it is important that it be used intelligently.
We invite you to browse the studies conducted by MKOR Consulting to see for yourself.
A model for how to conduct a market study?
Of course, in the meantime, we have also created our professional guide on how to conduct a market study. It is free, and we offer it to anyone who wants to improve their research techniques in exchange for their email address. 🙂
If you have any questions, do not hesitate to contact us and you will certainly receive a well-documented answer!
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