Sports Market Research

Know Your Customer How do businesses know their customers needs and wants?  Ask them/talking to customers  Surveys  Questionnaires  Focus groups  Analyze sales data

Market Research Market research is the process of systematically collecting, recording, analyzing and presenting data related to marketing goods and services Product development, pricing, promotional activities, distribution, and customer satisfaction are all areas where information generated by market research can be beneficial Market research provides data so that good decisions can be made for both businesses and consumers

Steps in the Research Process 1. Identify the problem 2. Conduct secondary research 3. Select and design primary research 4. Collect data 5. Report and analyze data

Step 1: Identify the Problem Asking a question that research can help answer

Primary Data Original research conducted for a specific marketing situation Examples include focus groups, consumer panels, surveys, questionnaires Secondary Data Published data that have been collected for some other purpose Examples include sales reports, reports on merchandise, complaints, newspapers, magazines, government websites, associations, books, Internet, companies that specialize in market research Primary vs. Secondary Data

Step 2: Conduct Secondary Research Data are recorded facts and figures that are organized and analyzed in some way Secondary research can be internal data from a company or external sources such as the Nielsen ratings

Nielsen Ratings A.C. Nielsen provides research on television viewing habits in the U.S. Networks monitor these reports when they broadcast different kinds of sports events. Entertainment and media companies use the data from the Nielsen ratings to determine what kinds of programs people are watching and what kinds of rates they can charge for advertisements during these programs

Nielsen Ratings cont. Let’s explore Nielsen’s company profile and see the current top 10 TV ratingsNielsen’s Article: Impact of Nielsen’s ratings on sports Article

Step 3: Select and Design Primary Research 3 types of research methods: 1. Experiments use dependent and independent variables. The independent variable is the variable that is being manipulated or changed. The dependent variable is the one that is affected by the change made by the independent variable. Allows you to draw conclusions from the interaction of variables. 2. Observations involve watching actual behaviour and recording it in writing, audio or video 3. Surveys involve asking questions of participants in a study. (e.g. Focus group, panel, or written or verbal questionnaire)

Focus Groups Focus groups or panel involves 6-10 participants who are brought together to discuss their feelings, reactions, and attitudes regarding a product, promotion, or some other topic.  A moderator asks questions and seeks responses from the participants.  The interaction among focus group members is often videotaped for later analysis by research specialists.  Considered qualitative research

Questionnaires Questionnaires are written surveys that can be administered in person, by telephone, fax, mail or online  Considered quantitative data as the data can be quantified, or measured, counted, sorted, and put into different categories  Allows for statistical analysis such as correlations, or connections between different kinds of data School survey on bullying

Collecting Data The method of collecting data depends on the survey tool and the characteristics and needs of the population being surveyed Mall intercept is when researchers approach shoppers in the mall and ask if they would like to participate in a research study Telephone surveys are more successful if brief Mail surveys should have prepaid envelop Survey participants should be compensated through money, a gift, coupon, a chance to win or something of value for their participation in the study

Advantages and disadvantages related to time, cost and accuracy of data collected Mail and fax questionnaires have the problem of a poor return rate (in other words, not everyone returns questionnaires on time or at all) Online surveys are conducted by companies on their own websites or they use online research companies Care must be taken to avoid duplication of responses by one participation who can skew the results and make them inaccurate

Step 4: Collect data Census is a study that counts everyone in the research population Sample is a number of people who are representative of a study’s population. The size of the sample needs to be large enough to represent the population under study.

Data mining is the process of collecting data from one or more existing databases and looking for relationships among the data  Computers and people use data mining software to analyze, find and predict patterns and connections that might remain hidden from traditional statistical analysis  Used to find out and predict information such as: Market segmentation Customer or client profiling Fraud detection Success or failure of promotions Credit risk or acceptability

Step 5: Report and Analyze Data Be very specific and clear in the report language Qualitative, or subjective, research data are reported in paragraph format Quantitative, or objective data can be reported in graphs and charts, with analysis or interpretation, written in accompanying paragraphs.

Research and Interpretation Both market research and the interpretation that follows reveal expected and unexpected results. All the data, observations, and analysis that are recorded and reported can be used to help make decisions about how to satisfy the needs and wants of customers