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2.05

2.05. Collect secondary marketing data to ensure accuracy and adequacy of information for decision-making. Search the Internet for sport/event marketing information . INTERNET: IMPORTANT SOURCE of S econdary Marketing Information.

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2.05

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  1. 2.05 Collect secondary marketing data to ensure accuracy and adequacy of information for decision-making

  2. Search the Internet for sport/event marketing information

  3. INTERNET: IMPORTANT SOURCE of Secondary Marketing Information Main way that SEM organizations obtain useful marketing information (MI) Vast amount of information available online relating to SEM.

  4. INTERNET DATABASES for SEM • Government Census: www.census.gov • Demographic Information (Population, age ranges, salaries) • Example: League’s expansion team in a specific area wants to look at DEMOGRAPHICS to see if team will be successful • Local Chamber of Commerce Website • Demographic Information and Business Information • Sports Business Research Network: www.sbrnet.com

  5. INTERNET SERVICE PROVIDERS for SEM Online Trade Magazines Advertising Agencies Licensors and Licensees Search Engines

  6. Use of Internet for SEM • If starting a new team, business or franchise: • Demographic Information (Government Census) • Does it represent Target Market? • Local Business Information (Chamber of Commerce) • Will local businesses be supportive? (Sponsorships)

  7. Internet STRENGTHS AND WEAKNESSES STRENGTHS WEAKNESSES • Too much information • Not always accurate • Many times information is bias • Information is current/updated often • Paperless Research Texts • Low to no cost • Search Engines • VAST

  8. Describe steps for developing a search strategy. 1. WHAT are we looking for 2. WHEREcan the information be found • Specific databases, News media, etc. 3. HOWto extract the information • Identify search terms • Organize and rank findings 4. HOW WELL: search process accuracy

  9. Assignment In your group you will do the following: • Pick on of the following: • New Soccer League Expansion Team • 2016 Olympics (Cannot be Brazil) • Identify your target market using the following demographics: • Age range, % Male/Female • Locate the best country (other than USA) for your team/event based on which represents the most percentage of your target market. • Explain why you chose this country- may also include cultural reasons (example: “This country has many sports fans based on current team/event popularity”)

  10. Locate the U.S. Census Bureau’s Web site. Find the following information about Mecklenburg County: • Population • Average family size • Average income • Estimated average age of population • Average educational level • Total Retail Sales per capita • Total Accommodation and Food Services Sales

  11. Using YellowBook.com, find the following information about Mecklenburg County: • Number of Restaurants • Number of Retail Stores • Number of Gas Stations • Number of Doctors Offices • Now answer the following questions: • What type of business might be successful in your community? • How does your research support your recommendation? • Include any additional facts from the websites to support your decision.

  12. Monitor internal records for marketing information

  13. TECHNIQUES FOR MONITORING Internal Records • Internal Records: • Personal company Information not often public • Monitoring Internal Records: • Accurate • Regularly Monitored

  14. GUIDELINES FOR MONITORING Internal Records • WHAT records to monitor: • SALES INVOICES: Records with CUSTOMER PROFILES • Identify Target Markets • SALES REPORTS and ACCOUNTS RECEIVABLE REPORTS • MI about the goods that a business sells • Analyzes which products sold well and which did not • COMMENT CARDS for CUSTOMER SATISFACTION • Who monitors: Accountants and Marketing Managers • How Often to monitor: REGULARILY • Analyze product performance

  15. PROCEDURES FOR MONITORING Internal Records Keep ACCURATE records Identify what records to monitor Assign WHO will monitor Decide HOW OFTEN to monitor Evaluate records Make decisions

  16. Maintain a database of competitor information

  17. Competitor Database • Ways to use: • Gather information about competitors • COMPETITIVE pricing • ADVERTISING decisions • Components that need to be maintained: • PRICE LISTS: • Know what competitors charge for products • Helps organization to price its products COMPETITIVELY • ADVERTISING MEDIA used by competitors: • Prevent using the same media dominated by a competitor • Newspapers, radio stations, etc.

  18. STEPS IN MAINTAINING Competitor Database “Four C’s” • COLLECT the information • CONVERT information into intelligence • Make it useful to your business (pricing, advertising, etc.) • COMMUNICATE the intelligence • COUNTER competitor actions = BE COMPETITIVE

  19. You are in the second year of a new football franchise. You must make the following decisions for your team with the information given: OBJECTIVE is to be COMPETITIVE with your competitor and also CREATE BRAND EQUITY through CUSTOMER SATISFACTION. • Two advertising media examples • Pricing for Jersey (Men, Women, Kid) • Address strengths and weaknesses (What are you going to do to create brand equity for your fans?)

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