Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter Marketing-Information Management 5.1 The Need for Speedy Information 5.2 The Marketing Research Process 5.3 Managing the Information 5

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 2 Winning Strategies patented a nonresidue adhesive used to attach plastic bags to the seat backs in sport’s venues advertiser literature stuffed into bags “winning game pieces” an incentive for attendees to look in bags game attendance, coupon redemption, and website hits provide marketing-information feedback NuBoard Media Sports Promotion

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 3 Lesson 5.1 The Need for Speedy Information Goals Explain the purpose of marketing- information management. Describe careers in marketing- information management.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 4 Terms syndicated research polls engaged customers client-side researchers

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 5 Purpose of Marketing – Information Management Collect marketing research gathers data identifies solutions to marketing problems Provide clients with recommendations about promotion, distribution, design, and pricing

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 6 Who is Buying? syndicated research research conducted by an independent company offered for sale to everyone in an industry

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 7 Engaging Customers polls surveys of people’s opinions engaged customers repeat customers who are completely loyal to a company’s products and services It is five times as expensive to attract the business of new customers as it is to retain the loyalty of current customers.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 8 Why do businesses need marketing information?

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 9 CAREERS IN MARKETING RESEARCH Marketing researchers collect and analyze competitive data. provide clients with strategic recommendations

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 10 Marketing Research Firms Marketing research careers will increase by 18%-26% through Most market researchers live in the city and have Master’s Degrees client-side researchers Employee’s of a client a staff researcher works with external marketing research firms. A Nike researcher working with NuBoard Media

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 11 On the Job Director of Marketing drives profitable revenue for assigned products manages a team tracks sales creates schedules and action plans develops training materials makes presentations

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 12 Describe some of the job functions of a marketing researcher.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 13 Lesson 5.2 The Marketing Research Process Goals List and describe the steps involved in marketing research. Discuss the human factors in marketing research.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 14 Terms market research exploratory research desk research descriptive research causal research sample price points

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 15 market research information gathered on a single target market

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 16 STEPS IN MARKETING RESEARCH Examples Discover and define the problem. Sneaker sales declining Analyze current conditions Looks at economy, what people are & are not buying, what are the current tastes and trends Develop the process for data collection Create surveys, determine who and when Collect the data Distribute the surveys

Sports and Entertainment Marketing © Thomson/South-Western STEPS IN MARKETING RESEARCH EXAMPLES Analyze and report the data How many people bought and liked what Determine a solution to the problem Cut customer cost, add more styles Implement and evaluate the results Lower prices, create new designs, etc. In a month or so see if sales are increasing Chapter 5 Slide 17

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 18 causal research determines the cause-and-effect relationships when the problem is already clearly defined Sales dropped because people could not afford exploratory research conducted when a business is unaware of the exact problem. Why did sales drop? desk research reports of other completed research are used to help define the problem descriptive research done when the business is aware of the problem that needs to be solved. Sales dropped because of lack of income what can we do? STEPS IN THE MARKETING RESEARCH PROCESS Discover and Define the Problem

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 19 examine sales volume and customer data to understand current conditions Develop the Process for Data Collection observation or survey Collect the Data sample a representative subset of the large group STEPS IN THE MARKETING RESEARCH PROCESS Analyze Current Conditions

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 20 data patterns are sought data is complex price points the range of prices charged for a category of merchandise graphic representations make data easier to understand quickly STEPS IN THE MARKETING RESEARCH PROCESS Analyze and Report the Data

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 21 Conclusions from the data can lead to recommended changes to current conditions. Implement and Evaluate the Results changes need to be implemented effectiveness of changes need to be evaluated Determine a Solution to the Problem

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 22 Explain how market research is different from marketing research.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 23 THE HUMAN FACTOR At times, there may be a conflict between people in research and people in sales. These people go about solving things differently Researchers need to consider various cultures, etc Must consider ways to reduce conflict and conduct sophisticated ethical research

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 24 Research Sophistication decisions based on sound information can greatly increase the chances for success gut feeling and intuition also play a role in decision-making

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 25 Reducing Conflict Marketing research that reveals dissatisfied customers might make other departments within the company feel defensive. Researchers should learn about all marketing functions within the company. Research results should be reported in an understandable format.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 26 Ethical Research Marketing researchers must maintain high ethical standards and report information accurately and objectively. The identity of research participants should be protected. Researchers have an obligation to protect the consumer from “misrepresentation and exploitation under the guise of research.”

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 27 What’s in It for Me? Consumers need an incentive for providing specific information that will be useful for marketing research. Ex. A coupon or discount for filling out a survey

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 28 Worldwide Data Consumer preferences vary among cultures. Marketers need to understand the preferences of the various cultures to which they sell products.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 29 Briefly describe the reasons for potential conflict between sales managers and marketing research managers.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 30 Lesson 5.3 Managing the Information Goals Explain the options for electronic data collection. Discuss the concept of data-driven decisions.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 31 Terms data mining cookie click-through rate

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 32 COLLECTION OF DATA It is essential to have high quality data to receive high quality research results.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 33 Data Mining data mining using powerful computers to “dig up” data to make decisions ACNielsen’s research is generally based on actions rather than opinions. electronically monitors actual television viewing habits of a representative sample of viewers

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 34 Cookies Anyone? cookie a small data file that is placed on the hard drive of a web site visitor collects and reports data on the visitor

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 35 Consumer Privacy Industry and federal regulators are addressing issues concerning customer’s privacy. Marketing information gathered from children is a sensitive area. The entertainment industry is trying to protect its products from piracy.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 36 Why do people often resent the collection of personal data?

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 37 DATA-DRIVEN DECISIONS Customers and marketers use data to make decisions.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 38 Ranking the Ads search engines help users find relevant web sites for free click-through rate (the number of times an ad is clicked on) ÷ (the number of times an ad is shown)

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 39 Why does Google improve the ranking of ads that get the most clicks?

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 40 PERFORMANCE INDICATORS EVALUATED Communicate promotional ideas clearly to the judge. Analyze characteristics of the target market.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 41 Emphasize the advantages of a retirement village concept that involves two locations. Understand the product being promoted and its value to the target market. Explain the economic benefits of senior citizens owning two residences.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 5 Slide 42 THINK CRITICALLY 1.Why are two residences attractive to many senior citizens? 2.How do high gas prices affect senior citizens who use RVs? 3.List three characteristics of the retirement communities that are attractive to senior citizens.