2. 1. Information is: A. Gathered B. Studied C. Very specifically focused on a single target market D. Used to create a plan 2

3. 1. Discover and define the problem (answer a question). 2. Analyze current conditions. 3. Develop the process for data collection. 4. Collect the data. 5. Analyze and report the data. 6. Determine a solution to the problem. 7. Implement and evaluate the results. 3

4. 1. Discover and Define the Problem (answer the question) A. Types of Research (used to discover& define the problem) i. “Exploratory” Research:  Conducted when a business is unaware of the exact problem  Example: Television network conducts research to determine why fewer people are watching a particular show 4

5. ii. “Desk” Research: ▪ Using reports and information from other research to help discover and define the problem (think “internet research”) 5

6. iii. “Descriptive” Research: ▪ Used when the business is aware of the problem that needs to be solved  Example: Someone wants to start a new professional soccer team. The problem to solve is …will there be a big enough fan base to support a new team? 6

7. iv. “Causal” Research: ▪ Used to determine cause-and-effect relationships when the problem is already clearly defined  Example: The sports team’s marketing department does not know which of two team logos will motivate fans to buy more team merchandise - research can help determine the effect of each logo on selling merchandise. 7

8. 2. Analyze Current Conditions A. Is there a need or want? B. Is the need or want currently being filled? C. What are the “strengths & weaknesses” of competitors? D. What are my businesses “strengths & weaknesses?” 8

9. 3. Develop the Process for Data Collection A. Observation B. Conducting a Survey C. Personal Interviews with Customers D. Obtain “Syndicated” Research - Syndicated Research – Research done by an outside company 9

10. 4. Collect the Data A. Survey a sample of the market ▪ Sample = a small number which represents a larger group of people i. Emails ii. Mailings iii. Phone Calls 10

11. B. Personal Interviews i. Conversations with Individuals ii. Focus Groups  Groups of people gathered together and asked many questions, i.e. which flavor do you like most …which character is the funniest …which name do you like best for our new team 11

12. C. What’s in it for Me? 1. Coupons and discounts 2. Free Merchandise, i.e Movie Ticket-for responding to the movie survey 3. Money offered for participation, i.e. Focus Groups 12

13. 5. Analyze and Report the Data: A. Once data is collected, the responses need to be totaled and decisions made. 13

14. B. Analyzing the data 1. Electronically compile responses. 2. Spreadsheets and Databases used to organize data 3. Look for patterns in the data. 4. Draw conclusions based on the patterns 14

15. 6. Determine a Solution to the Problem A. Solutions based on Conclusions from the Data B. Make Recommendations 15

16. 7. Implement and Evaluate the Results A. Implement/Execute the “plan of action” B. After a plan of action is implemented, it is important to evaluate results to: 1. Approve plan and continue on 2. Make adjustments and improve the process. 16

18.  Research Sophistication  Gut feeling and intuition  Research is valued and actively used to make decisions  Decisions based on sound information  Reducing Conflict  Research results may indicate the need for change  Managers should not “shoot the messenger.”  Research that indicates unhappy customers-presents opportunities for departments to work together for the best solution 18

19.  Ethical Research  Report information accurately and objectively  Biased research is inaccurate research  Obligation to protect the privacy of those who provide information for research  Confidentiality-the researcher has an obligation to not reveal the specific identities of the respondents  FTC makes it illegal for researchers to pretend they are conducting research when they are actually disguising a sales tactic 19 Copyright © Texas Education Agency, 2011. All rights reserved.

20.  Global market-growing for sports, entertainment, and recreation  Billions of People-in more than 200 countries watched or listened to the2006 FIFA World Cup matches  Export sports and entertainment programming 20