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

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

Explain the need for sport/event marketing information

Marketing Information Management Obtaining information needed to make a sound business decisions.

VOCABULARY 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 2012

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/ E-Marketers CLICKSTREAM DATA Tells e-marketers what web sites and advertisements internet-users see