Download Acquire foundational knowledge of marketing

2.03
Acquire foundational knowledge of marketing
information management to understand its
nature & scope
Explain the need for sport/event
marketing information
VOCABULARY
• Marketing Information - data collected from
internal or external sources to help make
marketing decisions
• Facts - something that actually exists; reality;
truth
• Estimates - an approximate judgment or careful
calculation about the impact of a product
• Predictions - a forecast of something to happen
• Relationships – What happens to products,
estimates or predictions based on changes
USES OF MARKETING INFORMATION
• IDENTIFY TRENDS
– Determine what changes are occurring in the
market
• Identify realistic goals
• Attracting and maintaining target market
WAYS to use Marketing Information
• Be SYSTEMATIC (organized)
• Be PROACTIVE
– seek and take advantage of opportunities
• Collect accurate data CONSTANTLY
– Keep up with changing needs of target market
IMPACT of Marketing Information
• Keep up with changing TRENDS
• Better reach to the target market
• Don’t waste money on ineffective advertising
Trends in 2012
Types of Marketing Information
• Primary Data:
– Original materials
• Examples: Autobiography, experiments
• SECONDARY DATA:
– Information and conclusions gathered from
reviewing primary data (ie: Biography)
– 2 Types:
• INTERNAL
• EXTERNAL
INTERNAL DATA
INFORMATION/RECORDS WITHIN ORGANIZATION
– Request and Complaint Reports from customers
– Lost Sales Reports (Returns, damages)
Advantages
•Saves money
•Easily accessed
Disadvantages
•Doesn’t acknowledge market
•Might not be up-to-date
EXTERNAL DATA
• Information/Records Outside the organization
– Identifies TARGET MARKET INFORMATION
• GOVERNMENT SOURCES/ DEMOGRAPHIC RECORDS
– POPULATION INFORMATION in certain geographic locations
– Identify locations of certain target markets
» Is there a large enough population in a certain area to support a
sport team/event?
• Internet External Data/ E-Marketers
– CLICKSTREAM DATA
» Tells e-marketers what web sites and advertisements internetusers see
“You Do”
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Article Activity
Mrs. Byers will hand you selections from an
article about project planning
You will read the selection and then create a
poster showcasing what you learned from
your selection
You will present this to the class
You will answer questions about each
selection