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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. Quiz Preview • #16 When identifying trends, which of the following is an external source of secondary data that a marketer would use? • Trade associations • Sales records • Telescope inquiries • Complaint letters • #25 The Sports Business Research Network (SBRnet) can be used to obtain what types of statistics? • Team names, sport/event attendance, and fan internet usage • Coaches biographies, television viewership, and team names • Television viewership, fan internet usage, and sport/event attendance • Fan internet usage, sport/event attendance, and coaches' biographies • #23 A professional soccer league is considering an expansion team in a certain city. What is the best online secondary source to obtain current demographic information about the location? • youth magazine • government census • national news outlet • sporting goods association • #21 To know what websites and advertisements visitors see, sports and event e-marketers would check • text files • direct delivery programs • clickstream data • internet service providers

  10. Unit 2 Project Part 5 • As Marketing Coordinator of a host site for the NCAA Tournament, it is your responsibility to understand your local market and economy. • You are to use secondary market data and find the following: • Slide 11: Local Demographics • Using the government census, research the demographics for your city. Find information on population, age ranges, ethnicities, salaries, family size, etc. Does the local population fit your target market? Can the tournament be successful in your city? Why? • Slide 12: Local Economy • Use the local Chamber of Commerce to find area businesses that could potentially benefit from the tournament being in town. List 5 businesses and tell what type of business, how they could benefit, and why tournament goers would use them? • Continue along with Unit 2 Project Part 4. Complete and submit to Edmodo by the end of class.

  11. Monitor internal records for marketing information

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

  13. 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: REGULARLY • Analyze product performance

  14. 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

  15. Maintain a database of competitor information

  16. 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.

  17. 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

  18. Quiz Preview • #19 Customer comment cards can reveal which of the following? • Sales volume • Product profiles • Performance ratings • Selling procedures • #22 A local surf shop in Wilmington is reviewing its sales records to determine if it should continue carrying skimboards. How is the shop using marketing data? • To make decisions • To schedule deliveries • To monitor employee performance • To evaluate vendor relationships • #28 Which of the following internal records would provide information about competitors and changes in the marketplace? • Sales activity reports • Customer comment cards • Employee performance reviews • Accounts receivable reports • #30 What type of competitor information might a retailer such as Hibbett Sports maintain in a database? • Cash-flow data • Compensation records • Advertising activities • Sales receipts

  19. Unit 2 Project Part 6 • As Marketing Coordinator of a host site for the NCAA Tournament, it is your responsibility to monitor internal records as well as competitor trends. • Unfortunately you are not the only show in town that weekend. You are competing with a Celebrity Fundraiser Concert that features Rihanna, 2 Chainz, and Jason Aldean. Also there is a local 3 day Little League Tournament featuring 8 of the best area teams. • You have completed the first game of your weekend and have reviewed your internal data. Use the next slide to resolve the following issues by the second game: • Slide 13: How will you increase female attendance? • Using the competitors information, how will you lure fans away from the concert and to the tournament? What incentives will you provide? How will you improve your weaknesses? How could you advertise differently? • Slide 14: How will you increase 9-13 attendance? • Using the competitors information, how will you lure fans away from the Little League Tournament? What incentives will you provide? How will you improve your weaknesses? How could you advertise differently? • Continue along with Unit 2 Project Part 5. Complete and submit to Edmodo by the end of class.

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