Sports & Entertainment Marketing II1.06 Collect secondary marketing data to ensure accuracy and adequacy of information for decision making

Keys to Successful Marketing

•Must understand and meet customer needs and wants

• To meet customer needs, marketers must collect information

The Collection Process

• This collection process includes:Intelligence generation

o Monitoring the external environmento Collecting datao Coordinating the collected data

Intelligence disseminationSharing the data gathered

ResponsivenessAnalyzing the dataDetecting an anticipating customer demand

Utilizing the information to develop effective marketing strategies

Information

• Information gathered from others can be reported in: Final reports Journal articles Oral presentations

Determining Type of Data

• Marketers can use one of three different research designs (or some combination of the three) to collect marketing data.• The research design chosen for the study should stem

directly from the questions which need to be answered and how much time, money, and resources are available for the study.

Research Designs• Exploratory research• Used when the problem is not well-defined• Answers questions such as, “Why are ticket sales down?”

• Descriptive research• Often used to determine characteristics of the target market• Answers, “who, what, where, when, and how often” questions

• Causal research• Explores the relationship between two variables• Answers questions such as, “Does increased advertising result in

more ticket sales?”

Collecting Information

• Marketing information can be collected in various ways:• Primary research

• May include surveys that can be mailed, posted on the Internet, conducted on the phone, or carried out in person by intercepting people at sporting events

• Secondary research• Obtaining and using data collected for another reason• Examining the content of written materials (e.g., financial

statements, ticket sales numbers, newspaper articles, etc.)