Transcript PPT Note 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 Secondary Marketing Information
• Main way that SEM organizations obtain
useful marketing information (MI)
• Vast amount of information available online
relating to SEM.
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
INTERNET SERVICE PROVIDERS
for SEM MI
• Online Trade Magazines
• Advertising Agencies
• Licensors and Licensees
• Search Engines
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)
Internet MI
STRENGTHS AND WEAKNESSES
STRENGTHS
WEAKNESSES
•Information is current/updated often • Too much information
•Paperless Research Texts
•Not always accurate
•Low to no cost
•Many times information is bias
•Search Engines
•VAST information
Describe steps for developing a search
strategy.
1. WHAT are we looking for
2. WHERE can the information be found
– Specific databases, News media, etc.
3. HOW to extract the information
– Identify search terms
– Organize and rank findings
4. HOW WELL: search process accuracy
“We Do”
How to Search for Specific Information Video
Questions to Answer while watching:
1. Demonstrate how to use “relationship” terms
for more accurate searches
2. What is one weakness demonstrated on the
video when searching the internet?
Monitor internal records for
marketing information
TECHNIQUES FOR MONITORING
Internal Records
• Internal Records:
– Personal company Information not often public
• Monitoring Internal Records:
– Accurate
– Regularly Monitored
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
PROCEDURES FOR MONITORING
Internal Records
1.
2.
3.
4.
5.
6.
Keep ACCURATE records
Identify what records to monitor
Assign WHO will monitor
Decide HOW OFTEN to monitor
Evaluate records
Make decisions
Maintain a database of
competitor information
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.
STEPS IN MAINTAINING Competitor Database
“Four C’s”
1. COLLECT the information
2. CONVERT information into intelligence
–
Make it useful to your business (pricing, advertising, etc.)
3. COMMUNICATE the intelligence
4. COUNTER competitor actions
= BE COMPETITIVE
Internal Records
Sales Invoices:
•
Dictates that your team’s target
market is 81% Male, 19% Female,
Ages 27-52
Sales Reports:
•
The most sold merchandise at
games and in retail stores are your
team’s jerseys
Comment Cards about home games:
•
•
Strengths at home game
attendance- Comfortable seats and
good concessions
Weaknesses: Can’t see scoreboard
and not enough box seats.
Competitor Database
Price Lists:
•Jersey:$69.99 for Jersey (Men),
$49.99 (Women) and $29.99 (Kids)
Advertising Media:
•Radio Commercials 3x a day, every
day from 6am-6pm on 96.1 FM and
10.29 FM during football season.
•One-Page ads in Sports Illustrated
every issue all year
•One-Page ads in local newspaper
every Sunday during football season