SEM1 2.05 A – Marketing Information Management (MIM)

•PE - Collect secondary marketing data to ensure accuracy and adequacy of information for decision making

•PI - Search the internet for SEM information•PI – Monitor internal records for marketing information•PI – Maintain a database of competitor information

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.

INTERNET DATABASES for SEM MI

• Government Census: www.census.gov

– 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 successful

• Local Chamber of Commerce Website– Demographic Information and Business Information

• Sports Business Research Network: www.sbrnet.com

INTERNET SERVICE PROVIDERS for SEM MI

• Online Trade Magazines

• Advertising Agencies

• Licensors and Licensees

• Search Engines

Use 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?

Internet MI STRENGTHS AND WEAKNESSES

STRENGTHS WEAKNESSES•Information is current/updated often

•Paperless Research Texts

•Low to no cost

•Search Engines

•VAST information

• Too much information

•Not always accurate

•Many times information is bias

Describe steps for developing an internet search strategy.

1. WHAT are we looking for

2. WHERE can the information be found– Specific databases, News media, etc.

3. HOW to extract the information– Identify search terms – Organize and rank findings

4. HOW WELL: search process accuracy

Describe steps for developing an internet search strategy.

How to Search for Specific Information Video

Questions to answer while watching:1. Demonstrate how to use “relationship” terms

for more accurate searches2. What is one weakness demonstrated on the

video when searching the internet?3. What are some time saving tricks on Google?

Describe steps for developing an internet search strategy.

• Process and Procedures– Search strategy– Efficient– Highly focused & narrow in scope– Use of root forms of words– Obtain precise information through URL searches

• Content– Sufficiently covered issue or topic– Information come from legitimate web sites– Information easily and positively validated– Information was most current available

Describe steps for developing an internet search strategy.

• Organization– Information easy to follow– Sequenced logically from broad to narrow focus– Information related to topic was clearly identified– Main points were clearly summarized

SEM1 2.05 Internet ActivityIn your group you will do the following:1. Pick one of the following:

– New Soccer League Expansion Team– 2016 Olympics (Cannot be Brazil)

2. Identify your target market using the following demographics:– Age range, % Male/Female

3. Locate the best country (other than USA) for your team/event based on which represents the most percentage of your target market.

4. Explain why you chose this country- may also include cultural reasons (example: “This country has many sports fans based on current team/event popularity”)

5. Create a short PPT 6. Present to the Class

TECHNIQUES FOR MONITORING Internal Records

• Internal Records: – Personal company Information not often public

• Monitoring Internal Records:– Accurate– Regularly Monitored

GUIDELINES FOR MONITORING Internal Records

• WHAT records to monitor:– SALES INVOICES: Records with CUSTOMER PROFILES

• Identify Target Markets– SALES REPORTS and ACCOUNTS RECEIVABLE REPORTS

• MI about the goods that a business sells– Analyzes which products sold well and which did not

– COMMENT CARDS for CUSTOMER SATISFACTION• Who monitors: Accountants and Marketing Managers

• How Often to monitor: REGULARILY– Analyze product performance

PROCEDURES FOR MONITORING Internal Records

1. Keep ACCURATE records2. Identify what records to monitor3. Assign WHO will monitor4. Decide HOW OFTEN to monitor5. Evaluate records6. Make decisions

Competitor Database• Ways to use: – Gather information about competitors– COMPETITIVE pricing– ADVERTISING decisions

• Components that need to be maintained:– PRICE LISTS:

• Know what competitors charge for products• Helps organization to price its products COMPETITIVELY

– ADVERTISING MEDIA used by competitors:• Prevent using the same media dominated by a competitor

– Newspapers, radio stations, etc.

STEPS IN MAINTAINING Competitor Database

“Four C’s”

1. COLLECT the information

2. CONVERT information into intelligence – Make it useful to your business (pricing, advertising, etc.)

3. COMMUNICATE the intelligence

4. COUNTER competitor actions = BE COMPETITIVE

SEM1 2.05 Competitor data

base activity

Internal Records Competitor DatabaseSales Invoices:

• Dictates that your team’s target market is 81% Male, 19% Female, Ages 27-52

Sales Reports: • The most sold merchandise at

games and in retail stores are your team’s jerseys

Comment Cards about home games: • Strengths at home game

attendance- Comfortable seats and good concessions

• Weaknesses: 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 10.29 FM during football season.

• One-Page ads in Sports Illustrated every issue all year

• One-Page ads in local newspaper every Sunday during football season

You 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 examples• Pricing for Jersey (Men, Women, Kid)• Address strengths and weaknesses (What are you going to do to create

brand equity for your fans?)