market research sports marketing. market research the process of systematically collecting,...

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