Market Research

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Market Research

• Sports Marketing

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Market Research

• The process of systematically collecting,
  recording, analyzing, and presenting data related
  to marketing goods and services

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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

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Primary Research

• The original research conducted for a specific
  marketing situation
• Examples
• Surveys
• Direct Mail
• Telephone
• Interviews
• Focus Groups

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Secondary Research

• Published data that have been collected for some
  other purpose
• Examples
• Census Reports
• Demographic Analyses
• Trade Associations
• State Agencies
• Commercial Research Firms

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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

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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?

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2. Conduct Secondary Research

• Secondary research published data that have been
  collected for some other purpose
• Data that a company DOES NOT compile themselves

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3. Design Primary Research

• Primary Research Original research conducted for
  a specific marketing situation
• Create surveys
• Develop focus groups
• Interviews
• Telephone calls

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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

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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)?

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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.

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Class Activity

• Select a team, player, entertainer or company and
  take them through the 5 steps of Market Research
• Identify the problem
• Conduct secondary research
• Select and design primary research
• Collect data
• Report and analyze data