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=VkdFx5JzRic 2015 https://www.youtube.com/watch?v=XeEgcS6LejM

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

INFORMATION/RECORDS WITHIN ORGANIZATION INTERNAL DATA INFORMATION/RECORDS WITHIN ORGANIZATION Request and Complaint Reports from customers Lost Sales Reports (Returns, damages) Advantages Disadvantages 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 CLICKSTREAM DATA Tells e-marketers what web sites and advertisements internet-users 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?

Where’d You Get That Info? Use ”Data do it” notes (linked on my web page) and this power point to help answer questions. Where’d You Get That Info? 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