| IMI
Services & Products |
Industrial Market Information is a Minneapolis-based market research firm that provides market data information, software and
services. IMI specializes in database structures that enhance both manufacturer and distributor perspectives of industrial MRO
and OEM product markets. In addition, we assist marketing/sales executives and industry analysts in gaining a more accurate
definition of these industrial markets.
IMI's databases provide information on the potential demand for a wide range of key industrial goods across all of thehundreds of industries encompassed by the Standard Industrial Classification (SIC) system. IMI offers market potential
estimates at a level of detail and cost not available through other data sources. IMI gives its clients a critical edge by identifying
potential new markets as well as the full potential of existing markets.
To download a complete IMI brochure in Adobe PDF format, which allows you to view it onscreen or print it out,
please click here. This brochure has more detailed examples of market reports that we create.
To
download Adobe Acrobat Reader, which allows you to read PDF files, click here.
Contents
- IMI Reports & Products
- Questions IMI reports can answer
- A solid foundation for your marketing strategy
- Database Marketing Consulting
- SIC'em Software
- Ratio Marketing & Analysis
- Best uses for ratio marketing and analysis
- How ratio marketing and analysis work
1. IMI Reports & Products
Today, more than ever, distributors and manufacturers need to better manage their sales efforts. Market analysis by Industrial
Market Information, Inc. gives you the foundation for saving time, money and employee resources.
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2. Questions IMI reports can answer
- What is the total volume demand in our market area and what share do we have in our specific product groupings?
- Which accounts offer the greatest potential for increasing our market share?
-
Which should be on a telemarketing program?
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3. A solid foundation for your marketing strategy
- Analyze sales from current accounts and compare them with the potential market as indicated on your IMI data sheets.
- Determine which low-volume accounts should be taken off the personal call lists and put on telemarketing.
- Review new accounts as they come in, comparing them with the account potential report.
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Go after those potential new accounts you know are out there!
4. Database Marketing Consulting
IMI also provides consulting services to companies that are setting up database marketing programs, restructuring sales and
marketing efforts, or updating hardware/software platforms with a view of integrating database marketing into their
system. Please call to discuss the full range of services we offer.
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5. Ratio Marketing & Analysis
Market quantification traditionally has been difficult and expensive. Ratio marketing, on the other hand, provides solid statistical
results on the relative sizes of different markets or accounts - at a cost-effective price.
IMI is the leader in industrial ratio marketing - with more standard products at a lower cost than any other company today.
IMI's analysis program provides market overview and specific account data - information you can use to focus your marketing
and sales strategies.
IMI has been endorsed by national distributors, distributor associations, and has been
used by manufacturers to improve their sales programs.
6. Best uses for ratio marketing and analysis
Market size analysis and market share estimation
This is done by running the ratios against a public or private database (or both) to see the market size of any defined
geographic area down to the zipcode level in the U.S. and Canada.
You can also analyze market size and share by:
7. Account potential analysis for a single account
IMI estimates that figures provided for account potential analysis are 60-95% valid, with an overall average of 80%. These
averages hold down to the county level. About 50% of the accounts analyzed will be incorrect due to the following factors:
- The sample size is only one, against larger selections as in states, counties or territories.
- The SIC code assigned to the account is incorrect or the account has a multiple of SICs.
- The account's process is different than that of the industry's, e.g. nuclear power plant uses very little coal or oil, but still uses a lot of valves (all power plants have an SIC code of 4911).
8. How ratio marketing and analysis work
Simply put, ratio marketing/analysis uses an estimated dollar consumption per employee per year to approximate total demand
for a given product.
Example:
- Widget manufacturers in the U.S. use approximately $26.00 of soap for each employee per year.
- Acme Widget has 150 employees. Therefore, they will use approximately $3,900 worth of soap.
Example:
- The state of Ohio has 18 Widget manufacturers that employ a total of 1,750 people.
- Therefore, the approximate use of soap by Widget manufacturers in Ohio is $45,500 each year.
By using government, private and industry data such as county business patterns and U.S. Bureau Census data, the industry
consumption of a given product is determined. Then the total employment of that industry is divided into the total consumption
to arrive at the dollar per employee ratio.
Example:
- The soap consumption of SIC Code 3075 (Widget manufacturers) is found to be $846,742.
- Total employment of SIC Code 3075 is 32,567 people.
- $846,742 ÷ 32,567 = $26.00 consumed per employee.
This process is usually not as precise as the example, but by using all and any data available, many industry products can be
profiled throughout the entire consuming SIC Codes. When verified against national commercial databases, 85-90% of the
actual market can be defined.
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Industrial Market Information, Inc.
P.O. Box 22098
Minneapolis, MN 55422
TEL: (763) 535-7432
FAX: (763) 535-2705
Email: info@imidata.com
© 2010, Industrial Market Information, Inc. All Rights Reserved.