market research sports marketing. market research the process of systematically collecting,...
TRANSCRIPT
Market ResearchSports 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