Download Acquire foundational knowledge of marketing

2.03
Acquire foundational knowledge of marketing
information management to understand its
nature & scope
2.03
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
• http://www.youtube.com/watch?v=VkdFx5JzRic
2014 Trend Forecaster
• https://www.youtube.com/watch?v=VkdFx5Jz
Ric
• 2015
• https://www.youtube.com/watch?v=XeEgcS6L
ejM
TYPES OF MARKETING INFORMATION
• PRIMARY DATA:
– Original DATA or FACTS collected for a purpose
• SPECTATORS and PARTICIPANTS major SOURCES of Primary
Data
– (ie: Concert attendees, Game attendees, Gym Members)
• SECONDARY DATA:
– Information and conclusions gathered from reviewing
primary data
– 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
– CLICKSTREAM DATA
» Tells e-marketers what web sites and advertisements internetusers see
Answer Questions from
“It’s a Hit Case Study” (notes)
&
NYC Research (Slide 12)
on a separate sheet of paper.
NYC- RESEARCH
There are 5 boroughs that make up NYC. NYC has 2
baseball teams and 2 stadiums.
• Name the 5 boroughs.
• Name the teams and the stadiums.
• Determine the location of each of the stadiums and
population.
• Does where people live make a difference in which of
the 2 baseball teams they support?
• How do the 2 teams know which residents are their
fans?
Use ”Data do it” notes (linked on my web page)
and this power point to help answer questions.
Where’d You Get That Info?
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Salespeople
Customers
Competitors
Supplier/manufacturer
News & trade Journals (industry magazines)
Qualitative Data
• Deals with descriptions.
• Data can be observed but not measured.
• Colors, textures, smells, tastes, appearance,
beauty, etc.
• Qualitative → Quality
Quantitative Data
• Deals with numbers.
• Data which can be measured.
• Length, height, area, volume, weight, speed,
time, temperature, humidity, sound levels,
cost, members, ages, etc.
• Quantitative → Quantity