2.05 Collect secondary marketing data to ensure accuracy and adequacy of information for decision-making

Search the Internet for sport/event marketing information

INTERNET: IMPORTANT SOURCE of Secondary Marketing Information Main way that SEM organizations obtain useful marketing information (MI) Vast amount of information available online relating to SEM.

INTERNET DATABASES for SEM MI Government Census: – Demographic Information (Population, age ranges, salaries) Example: League’s expansion team in a specific area wants to look at DEMOGRAPHICS to see if team will be successful Local Chamber of Commerce Website – Demographic Information and Business Information Sports Business Research Network:

INTERNET SERVICE PROVIDERS for SEM MI Online Trade Magazines Advertising Agencies Licensors and Licensees Search Engines

Use of Internet for SEM MI If starting a new team, business or franchise: – Demographic Information (Government Census) Does it represent Target Market? – Local Business Information (Chamber of Commerce) Will local businesses be supportive? (Sponsorships)

Internet MI STRENGTHS AND WEAKNESSES STRENGTHSWEAKNESSES Information is current/updated often Paperless Research Texts Low to no cost Search Engines VAST information Too much information Not always accurate Many times information is bias

Describe steps for developing a search strategy. 1. WHAT are we looking for 2. WHERE can the information be found – Specific databases, News media, etc. 3. HOW to extract the information – Identify search terms – Organize and rank findings 4. HOW WELL: search process accuracy

“We Do” How to Search for Specific Information Video Questions to Answer while watching: 1.Demonstrate how to use “relationship” terms for more accurate searches 2.What is one weakness demonstrated on the video when searching the internet?

“You Do” In your group you will do the following: 1.Pick on of the following: – New Soccer League Expansion Team – 2016 Olympics (Cannot be Brazil) 2.Identify your target market using the following demographics: – Age range, % Male/Female 3.Locate the best country (other than USA) for your team/event based on which represents the most percentage of your target market. 4.Explain why you chose this country- may also include cultural reasons (example: “This country has many sports fans based on current team/event popularity”) 5.Create a short PPT 6.Present to the Class

“You Do” Imagine that you are planning to take your sport/event to an international market. Search the Internet for information about countries that would be the best targets for the expansion Search the Internet to locate information about a potential competitor to your sport/event. Record a list of sites that provide useful information. Share your findings with a classmate.

Monitor internal records for marketing information

TECHNIQUES FOR MONITORING Internal Records Internal Records: – Personal company Information not often public Monitoring Internal Records: – Accurate – Regularly Monitored

GUIDELINES FOR MONITORING Internal Records WHAT records to monitor: – SALES INVOICES: Records with CUSTOMER PROFILES Identify Target Markets – SALES REPORTS and ACCOUNTS RECEIVABLE REPORTS MI about the goods that a business sells – Analyzes which products sold well and which did not – COMMENT CARDS for CUSTOMER SATISFACTION Who monitors: Accountants and Marketing Managers How Often to monitor: REGULARILY – Analyze product performance

PROCEDURES FOR MONITORING Internal Records 1.Keep ACCURATE records 2.Identify what records to monitor 3.Assign WHO will monitor 4.Decide HOW OFTEN to monitor 5.Evaluate records 6.Make decisions

Maintain a database of competitor information

Competitor Database Ways to use: – Gather information about competitors – COMPETITIVE pricing – ADVERTISING decisions Components that need to be maintained: – PRICE LISTS: Know what competitors charge for products Helps organization to price its products COMPETITIVELY – ADVERTISING MEDIA used by competitors: Prevent using the same media dominated by a competitor – Newspapers, radio stations, etc.

STEPS IN MAINTAINING Competitor Database “Four C’s” 1.COLLECT the information 2.CONVERT information into intelligence – Make it useful to your business (pricing, advertising, etc.) 3.COMMUNICATE the intelligence 4.COUNTER competitor actions = BE COMPETITIVE

“You Do”

Internal RecordsCompetitor Database Sales Invoices: Dictates that your team’s target market is 81% Male, 19% Female, Ages Sales Reports: The most sold merchandise at games and in retail stores are your team’s jerseys Comment Cards about home games: Strengths at home game attendance- Comfortable seats and good concessions Weaknesses: Can’t see scoreboard and not enough box seats. Price Lists: Jersey:$69.99 for Jersey (Men), $49.99 (Women) and $29.99 (Kids) Advertising Media: Radio Commercials 3x a day, every day from 6am-6pm on 96.1 FM and FM during football season. One-Page ads in Sports Illustrated every issue all year One-Page ads in local newspaper every Sunday during football season You are in the second year of a new football franchise. You must make the following decisions for your team with the information given: OBJECTIVE is to be COMPETITIVE with your competitor and also CREATE BRAND EQUITY through CUSTOMER SATISFACTION. Two advertising media examples Pricing for Jersey (Men, Women, Kid) Address strengths and weaknesses (What are you going to do to create brand equity for your fans?)