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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 MI • 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 MI • Online Trade Magazines • Advertising Agencies • Licensors and Licensees • Search Engines

  6. Use of Internet for SEM MI • 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 MI STRENGTHS AND WEAKNESSES

  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. “We Do” How to Search for Specific Information Video Questions to Answer while watching: • Demonstrate how to use “relationship” terms for more accurate searches • What is one weakness demonstrated on the video when searching the internet?

  10. Monitor internal records for marketing information

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

  12. 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

  13. 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

  14. Maintain a database of competitor information

  15. 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.

  16. 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

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