Sports and Entertainment Marketing

 For a business to be successful, it must know its customers.  Small, medium and large sized companies all do MR but it’s in different forms.

 Small businesses:

 Large businesses How was your meal today?

 Market research- the process of systematically collecting, recording, analyzing, and presenting data related to marketing goods and services.

 Identify the problem  Conduct secondary research  Select and design primary research  Collect data  Report and analyze data

 What is the problem at hand? How can we increase sales? Why is our product not selling? Why is our product breaking? How can we improve our product? Why is our gas pedal sticking causing numerous fatalities?

 Secondary research- published data that has been collected for some other purpose.  Cheaper  Easier

 If you don’t get the info you want from secondary, conduct primary  Primary research- original research conducted for a specific marketing situation.

 Three types of primary research methods: Experiment – need a dependent and independent variable. Observation- watching actual behavior and recording it Survey- involves asking questions of participants in a study

 The method you collect data depends on the survey tool you used.

 For the research to be useful, the data must be reported and analyzed  Qualitative research data Subjective No conclusions can be drawn, only inferences  Quantitative research data Objective Solid numbers Can be reported in graphs, charts

 Identify the problem  Conduct secondary research  Select and design primary research  Collect data  Report and analyze data

 What are some major disadvantages/drawbacks you see for a company to perform market research?