2.05 Secondary Data

2.05 Secondary Data

Marketing Information Management

Secondary Data

• Useful in life, school, and business

• Also useful for marketing professionals

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

• Government Census: www.census.gov

• Local Chamber of Commerce

• Sports Business Research Network: www.sbrnet.com  

Use of the Internet for SEM Marketing Information

• If starting a new team, business or franchise.

• Demographic Information (Government Census)

• Does it represent Target Market? (Age, income, gender, education, occupation, etc.)

Use of the Internet for SEM Marketing Information

• Local Business Information (Chamber of Commerce)

• Will local businesses be supportive? (Sponsorships, tax money)

Multiple Choice

A professional soccer league is considering an expansion team in a certain city. What is the best online secondary source to obtain current demographic information about the location?

• Youth magazine

• Government Census

• National news outlet

• Sporting goods associate

Multiple Choice

Which might a sports or an event organization search to obtain marketing information?

• Foundations

• Media

• Newsletters

• The Internet

Advantages of Internet Marketing Information

• Information is current/updated often

• Paperless Research Texts

• Low to no cost

• Search engines

• Vast Information

Disadvantages of Internet Marketing

• Too much information

• Not always accurate/complete

• Many times information is bias

Internet Service Providers

• Online Trade Magazines

• Advertising Agencies

• Licensors and Licensees

• Search Engines

Multiple Choice

A sports or an event marketer is having difficulty finding data about a competitor. The financial records of competitors are unavailable for public access. Which disadvantage of secondary research does this situation illustrate?

• It can be out of date.

• It can be incomplete.

• It can be costly.

• It can be time consuming

Monitor Internal Records for Marketing Information

What Records to Monitor

• Sales Invoices: Customer Profiles 

• Identify Target Market

• Sales Reports & Account Receivable Reports

• Which products sold well, and which did not

Guidelines for Monitoring

• Comment Cards for Customer Satisfaction

• Who monitors?

• Accountants and

• Marketing Managers

• How Often to monitor:

• REGULARILY

Procedure for Monitoring Internal Records

Multiple Choice

Which internal records might a business use to analyze information regarding customer satisfaction levels?

• Expense reports

• Debit receipts

• Credit reports

• Comment cards

Multiple Choice

What internal records do many businesses monitor in order to obtain useful marketing information?

• Sales reports

• Trade journals

• Industry projections

• Print advertisements

Multiple Choice

What type of marketing information might a business obtain by monitoring sales invoices?

• Service tactics

• Profit margin

• Sales territory

• Customer profiles

Multiple Choice

Which is a reason why businesses should regularly monitor their internal records that contain marketing information?

• To compile regulatory data

• To review employment trends

• To analyze product performance

• To prioritize investment goals

Maintain a Database of Competitor Information

Ways to Use

• Gather information about competitors

• Competitive pricing

• Advertising decisions

Competitor Database

• 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

Multiple Choice

What type of competitor information is important for sports or event organizations to maintain in a database?

• Consumption

• Demographics

• Market size

• Price lists

Multiple Choice

What information is usually contained in a database about competitors?

• Budget structure

• Production Techniques

• Advertising media

• Creative strategy