Presentation on theme: "SEM A – Marketing Information Management (MIM)"— Presentation transcript:
1SEM1 2.05 A – Marketing Information Management (MIM) PE - Collect secondary marketing data to ensure accuracy and adequacy of information for decision makingPI - Search the internet for SEM informationPI – Monitor internal records for marketing informationPI – Maintain a database of competitor information
2INTERNET: 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.
3INTERNET 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 successfulLocal Chamber of Commerce WebsiteDemographic Information and Business InformationSports Business Research Network:
4INTERNET SERVICE PROVIDERS for SEM MI Online Trade MagazinesAdvertising AgenciesLicensors and LicenseesSearch Engines
5Use of Internet for SEM MI If starting a new team, business or franchise:Demographic Information (Government Census)Does it represent Target Market?Will the area support a new team?Local Business Information (Chamber of Commerce)Will local businesses be supportive? (Sponsorships)What is the competition?
6Internet MI STRENGTHS AND WEAKNESSES Information is current/updated oftenPaperless Research TextsLow to no costSearch EnginesVAST informationToo much informationNot always accurateMany times information is bias
7Describe steps for developing an internet search strategy. 1. WHAT are we looking for2. WHERE can the information be foundSpecific databases, News media, etc.3. HOW to extract the informationIdentify search terms Organize and rank findings4. HOW WELL: search process accuracy
8Describe steps for developing an internet search strategy. How to Search for Specific Information VideoQuestions to answer while watching:Demonstrate how to use “relationship” terms for more accurate searchesWhat is one weakness demonstrated on the video when searching the internet?What are some time saving tricks on Google?
9Describe steps for developing an internet search strategy. Process and ProceduresSearch strategyEfficientHighly focused & narrow in scopeUse of root forms of wordsObtain precise information through URL searchesContentSufficiently covered issue or topicInformation come from legitimate web sitesInformation easily and positively validatedInformation was most current available
10Describe steps for developing an internet search strategy. OrganizationInformation easy to followSequenced logically from broad to narrow focusInformation related to topic was clearly identifiedMain points were clearly summarized
11SEM1 2.05 Internet Activity In your group you will do the following: Pick one of the following:New Soccer League Expansion Team2016 Olympics (Cannot be Brazil)Identify your target market using the following demographics:Age range, % Male/FemaleLocate the best country (other than USA) for your team/event based on which represents the most percentage of your target market.Explain why you chose this country- may also include cultural reasons (example: “This country has many sports fans based on current team/event popularity”)Create a short PPTPresent to the Class
12TECHNIQUES FOR MONITORING Internal Records Personal company Information not often publicMonitoring Internal Records:AccurateRegularly Monitored
13GUIDELINES FOR MONITORING Internal Records WHAT records to monitor:SALES INVOICES: Records with CUSTOMER PROFILESIdentify Target MarketsSALES REPORTS and ACCOUNTS RECEIVABLE REPORTSMI about the goods that a business sellsAnalyzes which products sold well and which did notCOMMENT CARDS for CUSTOMER SATISFACTIONWho monitors: Accountants and Marketing ManagersHow Often to monitor: REGULARILYAnalyze product performance
14PROCEDURES FOR MONITORING Internal Records Keep ACCURATE recordsIdentify what records to monitorAssign WHO will monitorDecide HOW OFTEN to monitorEvaluate recordsMake decisions
15Competitor Database Ways to use: Gather information about competitorsCOMPETITIVE pricingADVERTISING decisionsComponents that need to be maintained:PRICE LISTS:Know what competitors charge for productsHelps organization to price its products COMPETITIVELYADVERTISING MEDIA used by competitors:Prevent using the same media dominated by a competitorNewspapers, radio stations, etc.
16STEPS IN MAINTAINING Competitor Database “Four C’s”COLLECT the informationCONVERT information into intelligenceMake it useful to your business (pricing, advertising, etc.)COMMUNICATE the intelligenceCOUNTER competitor actions= BE COMPETITIVE
18Internal Records Competitor Database Sales Invoices:Dictates that your team’s target market is 81% Male, 19% Female, Ages 27-52Sales Reports:The most sold merchandise at games and in retail stores are your team’s jerseysComment Cards about home games:Strengths at home game attendance- Comfortable seats and good concessionsWeaknesses: 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 yearOne-Page ads in local newspaper every Sunday during football seasonYou 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 examplesPricing for Jersey (Men, Women, Kid)Address strengths and weaknesses (What are you going to do to create brand equity for your fans?)