Presentation on theme: "2.05 Collect secondary marketing data to ensure accuracy and adequacy of information for decision-making."— Presentation transcript:
1 2.05Collect secondary marketing data to ensure accuracy and adequacy of information for decision-making
2 Search the Internet for sport/event marketing information
3 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.
4 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 successfulLocal Chamber of Commerce WebsiteDemographic Information and Business InformationSports Business Research Network:
5 INTERNET SERVICE PROVIDERS for SEM MI Online Trade MagazinesAdvertising AgenciesLicensors and LicenseesSearch Engines
6 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)
7 Internet MI STRENGTHS AND WEAKNESSES Information is current/updated oftenPaperless Research TextsLow to no costSearch EnginesVAST informationToo much informationNot always accurateMany times information is bias
8 Describe steps for developing a 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
9 Monitor internal records for marketing information
10 TECHNIQUES FOR MONITORING Internal Records Personal company Information not often publicMonitoring Internal Records:AccurateRegularly Monitored
11 GUIDELINES 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
12 PROCEDURES FOR MONITORING Internal Records Keep ACCURATE recordsIdentify what records to monitorAssign WHO will monitorDecide HOW OFTEN to monitorEvaluate recordsMake decisions
14 Competitor 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.
15 STEPS 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