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PE – Acquire foundational knowledge of marketing information management to understand its nature & scope PI – Explain the need for sport/event marketing information. SEM1 2.03 A - Marketing information management.

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sem1 2 03 a marketing information management

PE – Acquire foundational knowledge of marketing information management to understand its nature & scope

  • PI – Explain the need for sport/event marketing information
SEM1 2.03A - Marketing information management
vocabulary

Marketing Information - data collected from internal or external sources or from marketing research

  • Facts - something that actually exists; reality; truth
  • Estimates - an approximate judgment or careful calculation about the impact of a product
  • Predictions - a forecast of something to happen
  • Relationships – What happens to products, estimates or predictions based on changes
Vocabulary
mim in sem
“MIM” in “Sem”
  • How to use MIM in SEM
    • determine potential customers
    • determine products & gauge interest
    • determine marketing opportunities
    • solve marketing problems
    • implement/measure effectiveness of marketing plans
    • monitor & improve marketing performance
    • make decisions about all marketing plans
    • identify trends to determine what changes are occurring in the marketplace
    • determine means to neutralize your competitors from gaining market share from you
mim in sem1

Additional uses of MIM

    • Be proactive with your customer base
      • Attract & maintain your target market by staying in touch with their ever-changing needs
    • Togetherness
      • Links the consumer, public and the marketer to provide better products and information to analyze your marketing efforts
    • Marketing mix
      • Improve your understanding of marketing as a process for your product
    • Competition
      • Beat them at their game!
“Mim” in “sem”
sport marketers should ask

Who consumes our product?

Who decides on the purchase?

Who consumes our competitors’ products?

What products compete with ours?

What products complement ours?

What are the key benefits sought by consumers?

When do consumers buy?

Why do consumers buy?

How do consumers consume our product?

sport marketers should ask?
what you can learn from data
What you can learn from data
  • General Market Data
    • Size of Market
    • Demographics
    • Purchase Behaviors
    • Future Trends
    • Spectatorship or Participation Level
  • Individual Consumer Data
    • Names and Numbers
    • Product Usage (Frequency)
    • Method of Payment
    • Pattern of Consumption
  • Example: If you want to encourage someone to purchase tickets to the Carolina Panthers you might use the data listed above to assist in your marketing plans…or look at current trends in the marketplace
  • http://www.youtube.com/watch?v=RHPLVHgTGd0&feature=relmfu
sources of data
Sources of data
  • Primary Sources
    • Collected first-hand
    • Primary sources are original materials
  • Examples:
    • Interviews
    • Newspaper articles
    • Focus Groups
    • Polls & Surveys
    • Sampling
  • Secondary Sources
    • Collected second-hand
    • Information generated after reviewing primary data
    • Conclusions you make from primary data
  • Examples:
    • Reports
    • Summary
    • Recommendations
types of data
Qualitative

Deals with descriptions.

Data can be observed but not measured.

Colors, textures, smells, tastes, appearance, beauty, etc.

Qualitative → Quality

Quantitative

Deals with numbers.

Data which can be measured.

Length, height, area, volume, weight, speed, time, temperature, humidity, sound levels, cost, members, ages, etc.

Quantitative → Quantity

Types of Data
sources of data1
Sources of data
  • Internal

Within organization info

    • Sales Records
    • Accounting Records
    • Communication within the organization (Complaints/Praise)
  • External

Outside organization info

    • Census Reports
    • Public Libraries
    • State Agencies
    • Chamber of Commerce
types of data internal reports

Request and Complaint Reports -A record of customers and the product(s) that they requested, along with records of complaints made by customers.

Lost Sales Reports – returns, damages or refusals

Call Report - records of sales people’s meeting or contact with customers

Activity Report - reports requiring salespeople to provide details (such as number of calls made, new accounts opened, displays arranged, dealer sales meetings attended and so on) as a measure of their activity in a given sales period.

types of data - Internal reports
types of data external reports

All marketing information (internal & external) must be objective & accurate data collected in an organized & systematic manner

  • Types
    • Customer
    • Marketing mix
    • Business Environment
Types of data - External Reports
data customer information

Age

  • Gender
  • Income
  • Education
  • Family size
  • Home ownership
  • Address
  • Occupation
  • How money is spent
  • Attitudes
  • Primary needs
  • Product purchases
  • Purchase frequency
  • Brand preferences
  • Information needs
  • Media preferences
  • Shopping behavior
  • Feedback
  • Expectations
Data - Customer Information
data marketing mix 4 p s
Data - Marketing Mix (4 P’s)

Data can be used to determine your Marketing Mix

Product

  • Basic Product Type
  • Product Features
  • Good or Service
  • Packaging

Price

  • Credit Choice
  • Discounts
  • Market

Place

  • Distribution
  • Selling Locations

Promotion

  • Promotion Methods
  • Promotion Timing
data business environment

Type of competition – direct/indirect/price

  • Competitors’ strengths & strategies - visit them to gain data - use mystery shopper
  • Economic conditions
  • Government policies
  • New technology
  • Consumer protection
  • Ethical issues
  • Tax policies
  • Proposed laws
  • International markets
  • Risk Management
Data - Business Environment