Market Research Sports Marketing

Market Research  The process of systematically collecting, recording, analyzing, and presenting data related to marketing goods and services

Why is Market Research Important?  Global Market: other countries are different from the US and companies need to learn and understand their needs and wants before they enter that market  Competition : companies need an “edge” to compete in the marketplace, so the need to research what their competitors are doing  Changing Market: customer needs change daily, it is important to understand them before a company enters the marketplace

Primary Research  The original research conducted for a specific marketing situation  Examples :  Surveys  Direct Mail  Telephone  Interviews  Focus Groups

Secondary Research  Published data that have been collected for some other purpose  Examples:  Census Reports  Demographic Analyses  Trade Associations  State Agencies  Commercial Research Firms

5 steps in Market Research 1. Identify the problem 2. Conduct secondary research 3. Select and design primary research 4. Collect data 5. Report and analyze data

1. Identify the Problem  Ask questions that research could answer  Example: A golf ball manufacturer might ask  “What can we do to improve the image of our golf ball and stand out from the rest of the market?”

2. Conduct Secondary Research  Secondary research: published data that have been collected for some other purpose  Data that a company DOES NOT compile themselves

3. Design Primary Research  Primary Research : Original research conducted for a specific marketing situation  Create surveys  Develop focus groups  Interviews  Telephone calls

4. Collect Data  Data: records or facts and figures that are organized and analyzed in some way  Ways to collect :  Experiment – try it out  Observation – watch it happen  Survey – ask about it

5. Report and Analyze  In order for data to be useful it must be reported and analyzed  What does the information collected tell us about the consumer (or subject)?

Market Research Example  In 2010, the Green Bay Packers held several focus groups with select season ticket holders to discuss new seating ideas for a possible Lambeau Field expansion.  According to an article featured in the Green Bay Post Gazette, focus groups and surveys are an annual part of the Packers’ effort to meet fan expectations and better the game day experience.

Class Activity  Select a team, player, entertainer or company and take them through the 5 steps of Market Research: 1. Identify the problem 2. Conduct secondary research 3. Select and design primary research 4. Collect data 5. Report and analyze data