Download COURSE CONTENT 2.03 - Acquire foundational knowledge of

COURSE CONTENT 2.03 - Acquire foundational knowledge of marketing information
management to understand its nature & scope
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I.
II.
III.
IV.
V.
VI.
Explain the need for sport/event marketing information
Vocabulary
a. Marketing Information - data collected from internal or external sources or from marketing
research
b. Facts - something that actually exists; reality; truth
c. Estimates - an approximate judgment or careful calculation about the impact of a product
d. Predictions - a forecast of something to happen
e. Relationships – What happens to products, estimates or predictions based on changes
How to use MIM in SEM
a. determine potential customers
b. determine products & gauge interest
c. determine marketing opportunities
d. solve marketing problems
e. implement/measure effectiveness of marketing plans
f. monitor & improve marketing performance
g. make decisions about all marketing plans
h. identify trends to determine what changes are occurring in the marketplace
i. determine means to neutralize your competitors from gaining market share from you
Additional uses of MIM
a. Be proactive with your customer base
i. Attract & maintain your target market by staying in touch with their ever-changing needs
b. Togetherness
i. Links the consumer, public and the marketer to provide better products and information
to analyze your marketing efforts
c. Marketing mix
i. Improve your understanding of marketing as a process for your product
d. Competition
i. Beat them at their game!
Sport Marketers should ask?
a. Who consumes our product?
f. What are the key benefits sought by
b. Who decides on the purchase?
consumers?
c. Who consumes our competitors’
g. When do consumers buy?
products?
h. Why do consumers buy?
d. What products compete with ours?
i. How do consumers consume our
e. What products complement ours?
product?
What you can learn from Data
a. General Market Data
i. Size of Market
ii. Demographics
iii. Purchase Behaviors
iv. Future Trends
v. Spectatorship or Participation Level
b. Individual Consumer Data
i. Names and Numbers
ii. Product Usage (Frequency)
iii. Method of Payment
iv. Pattern of Consumption
Sources of Data
VII.
VIII.
a. Primary Sources
i. Primary sources are original materials
ii. Examples:
1. Interviews
2. Newspaper articles
3. Focus Groups
4. Polls & Surveys
5. Sampling
b. Secondary Sources
i. Information generated after reviewing primary data
ii. Conclusions you make from primary data
iii. Examples:
1. Reports
2. Summary
3. Recommendations
c. Internal
i. Within organization info
ii. Examples:
1. Sales Records
2. Accounting Records
d. External
i. Outside organization info
ii. Examples:
1. Census Reports
2. Public Libraries
3. State Agencies
4. Chamber of Commerce
Types of Data:
a. Internal Reports
i. Request and Complaint Reports - A record of customers and the product(s) that they
requested, along with records of complaints made by customers.
ii. Lost Sales Reports – returns, damages or refusals
iii. Call Report - records of sales people’s meeting or contact with customers
iv. Activity Report - reports requiring salespeople to provide details (such as number of
calls made, new accounts opened, displays arranged, dealer sales meetings attended and
so on) as a measure of their activity in a given sales period.
b. External Reports
i. All marketing information (internal & external) must be objective & accurate data
collected in an organized & systematic manner
ii. Types
1. Customer
2. Marketing mix
3. Business Environment
Data – Customer Information
a. Age
i. How money is
n. Brand
b. Gender
spent
preferences
c. Income
j. Attitudes
o. Information
d. Education
k. Primary needs
needs
e. Family size
l. Product
p. Media
f. Home ownership
purchases
preferences
g. Address
m. Purchase
q. Shopping
h. Occupation
frequency
behavior
IX.
X.
r. Feedback
s. Expectations
Data – MarketingMix (4 P’s)
a. Data can be used to determine your Marketing Mix
b. Product
i. Basic Product Type
ii. Product Features
iii. Good or Service
iv. Packaging
c. Price
i. Credit Choice
ii. Discounts
iii. Market
d. Place
i. Distribution
ii. Selling Locations
e. Promotion
i. Promotion Methods
ii. Promotion Timing
Data – Business Environment
a. Type of competition –
direct/indirect/price
b. Competitors’ strengths & strategies visit them to gain data - use mystery
shopper
c. Economic conditions
d. Government policies
e.
f.
g.
h.
i.
j.
k.
New technology
Consumer protection
Ethical issues
Tax policies
Proposed laws
International markets
Risk Management