2.03 Acquire foundational knowledge of marketing information management to understand its nature & scope.

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Presentation transcript:

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 2013 Trends in 2013

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) AdvantagesDisadvantages Saves money Easily accessed 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 internet- users see

Data - Marketing Mix (4 P’s) Data can be used to determine your Marketing Mix Product Basic Product Type Product Features Good or Service Packaging Price Credit Choice Discounts Market Place Distribution Selling Locations Promotion Promotion Methods Promotion Timing

Data - Customer Information Age Gender Income Education Family size Home ownership Address Occupation How money is spent Attitudes Primary needs Product purchases Purchase frequency Brand preferences Information needs Media preferences Shopping behavior Feedback Expectations

“You Do” You are the Assistant Media Relations Director for your favorite University. This Saturday, your school will host the your rival for a game at 3:30pm on ESPNU. Your job is to prepare the pre-game notes on each team. These notes are given to the coaches, local newspapers, TV (ESPN), radio and are made available on the athletic website. Collect internal data (from your school) and external data (from your rival) relevant to this weekend’s game and prepare the game notes. Your game notes should be at least 2 full pages. Feel free to use a template in Publisher to create a more attractive format.