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Market reports are a very popular and important source of knowledge. They are widely available and can be bought at many online stores. All these sources can be divided into three main key groups, each of which has its own advantages and disadvantages. Before choosing a supplier, it is worth considering each of these options in order to select the solution best suited to individual needs.

Publishers

Market reports can be purchased directly from publishers. The vast majority of them have their own online stores. They often promote their products at fairs or industry conferences. They also hire sales teams who are happy to answer every question and advise which of their reports to buy.

However, it is worth remembering that as publishers sell only their own services sales staff are not objective in finding the best resource, offering only their won. Most publishers and subscription services prepare data only on selected countries and industries – those for which they themselves have knowledge and experience.  This means that it is not always possible to receive all necessary reports from one supplier. In such a situation, a company must spend additional time on a tedious search for other publishers as well as checking the quality and reliability of studies that are offered.

Resellers

Resellers are the companies that sell market reports from many publishers. Thanks to a very wide offer, they may satisfy the information needs of almost every company operating on almost every market around the world.

When deciding to purchase a report from a reseller, it is worth answering a few questions. Does the company offer up-to-date reports (and not compete by saying they have the largest database when the majority of studies are older than 2 years)? Where does the reseller run their business (unfortunately, many agents and publishers hide some facts, for example, that they operate and gather data out of India, because Western companies are sometimes sceptical about services from this country)? Can a reseller propose innovative, beneficial solutions in non-standard situations (e.g. offer for a niche market or long-term forecasts)? And above all, can they act as a business partner, not just a salespoint – including: can they assess and prove the reliability of the data included in the reports; can they offer samples from the report; do they advise and help in negotiations with the publisher; do they offer an after sales service?

Market intelligence providers

Such companies offer not only ready-made reports from reputable publishers, but also provide additional, non-standard support for more advanced needs.

For example, not only can they prepare a compilation of several reports, from different sources, along with personal recommendations but they are also often able to offer tailor-made market research and business consulting support – from assisting with designing the process and developing methodologies, through to helping with project management, organising and conducting interviews, to presentation and explanation of results.

Suppliers of market intelligence – thanks to their broad competences – help not only to get to know the market better, but also to search for business partners (distributors or suppliers), support merger or acquisition transactions and to develop a new market entry strategy.

And similar as with publishers and resellers, before a cooperation with market intelligence provider, the new partner needs to be checked to ensure that they have the appropriate experience and capabilities. See also 10 features of a world-class market intelligence provider that can help you to grow your business.

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