SPMT 374

PRIMARY DATA SOURCES: IMPORTANCE -communicate w/ target market -assess ur position in the market establish a demographic profile of the audience -establish a demographic profile of the audience

-initiate data based marketing efforts -benchmark & evaluate operational efforts -gather information essential for sponsorship renewal or solicitation of new sponsors or for determining reaction to new concepts, products, or services

CRM= Customer Relationship Managment : can

-measure how many clicks ur marketing post has gotten -go back and track how long u looked at ur email -also can see how many ppl actually opened the email ur clicked on the links -track sales

SURVEYS & QUESTIONERS: -on-site survey -mail survey -telephone survey -website email -video interviews -personal interviews

-open letter

DMB- track & segment ur data ex: segment ur sandmarket

-track how ur marketing groups are working and see if ur missing ppl

7 Pricing objectives:

1. Effective use of resouses (personal space) 2. Fairness (consumer's ability of play) 3. Maximum participation opportunities 4. Positive user attitudes/image 5. Maximum product exposure & distribution 6. profits 7. Survial

CORE BENEFITS (4):

1. Health (participation) 2.Entertainment 3.Sociability 4.Achievement

UNIQUNESS OF SPORT MARKET 4:

1. Product 2.Market 3.Finace 4.Promotion

wt r 4 BASES OF SEGMENTATION:

1. State of being- age, ethnicity, sex 2. State of mind- wt do ppl value & believe 3. Product benefits- ur product only benefits a certain amt. of ppl 4. Product usage- how often do u use the product ex: How often do u have to update ur product or how many yrs on ave. will it last?

4 different routes of

1. We can do it ourselves pro-we don't have to pay someone to represent us & not giving away ur company con:u will have to do the work 2. Sponsorship- sports owner or athlete that will establish credibility for u that already has their own credibility pro: quick u can access a lot of ppl, have to get ppl con: wt happens if the person goes bad 3. Partnering w/ exciting company 4. Influencer

COMPETITIVE ANALYSIS: Market research, identify competitors ROLE OF MARKET RESEARCH (3):

1. Wt does the org. want to know? 2. wt is the best way to find out? 3. How can they use it?

BENEFITS- Wt does the customer want from the experience or product? (7)

1. socialization 2. excitement 3.high performance- is key ( u have to prove ur product works) 4.entertainment 5. affordability- if its cheaper ppl will want to buy it 6.affiliation-if Jordan Speith show after he hits how he uses Balltrack 7. Recognition- have some1 who is good say "I use this & it works well"

DATA ON PAST, PRESENT, & FUTURE CUSTOMERS: 5 1. Names, addresses, email addy, & phone #s of consumers 2. frequently of purchase or attendance, use of product type & quantity of product purchases, & dates of purchase to attende 3. Method of payment, location where product was purchased, & lead time

4. Media used or source of awareness 5. Pattern of consumption

GENERAL MARKET DATA: 5 1. Size of the market 2. demographics of individuals residing or working in critical trading radius 3. purchase behaviors & consumption patterns of those residing or working w/ in market

4. level of spectatorship or participation in sport broken down by the demographic categories 5. Data on future trends

USER GROUP SEGMENTATION:SPECTATOR 7: 1. unaware: Nonuser- did not know abt ur product or understand it 2. aware:nonuser consumer-seeing it but does not understand product 3. media consumer 4. Light user-barley use a product

5. Medium user-use medium amt. 6.heavy user- frequent user 7. defector- they use some1 else product & then they change to urs

PRODUCT USAGE: 3 80 % of business comes from 20% of the customers =

80-20 rule

As ___ loyalty increases, demand becomes more inelastic ex: Nike shoes, Daytona, Automobiles

BRAND LOYALTY

The competitions price will affect elasticity

COMPETITION

Using DBM is a way to track and find unaware non-users that you might have

DBM

using Data to track how to Market

DBM

Changes in the market (sales) when there is a change in price elasticity of a product elasticity: sensitivity of demand when price changes

ELATICITY OF DEMAND

influenced by (among others) -product necesity-economy -substitute availability- brand loyalty -competition-quality

Elasticity of Demand

as ____ increases, ppl will have more money avalible for discretionary purposes

INCOME

____ SEGMENTATION - process of dividing a large, hetro-genous market into more homogenous groups of ppl, who have simular wants, needs, or demographic profiles, to whom a product may be targeted

MARKET

if the customer believes tht the product is poor quality, demand will be more relatively elastic ex: Tampa Bay Devil Rays

PRODUCT QUALITY

Wt is diff. prices charged for the same product?

Price Discrimination

Sport marketing mix is ?

Product Price Promotion Place

How can I be assured of a random population for the survey?

Randomless

How dependable are my in findings? Where should demographic questions be placed in a survey?

Reliablity

All activities are designed to meet the wants and needs of sport consumers thru exchange process Sport consumers are involved in sport thru playing, offciating, watching, listening, reading, & collecting

SPORT MARKETING: 2

DBM= Data Base Mang. System is most popular where?

Sales Force Hubsport

COMMON PROBLEMS IN MARKETING RESEARCH: 3 ____ how many ppl should I survey to be accurate?

Sampling

Wt is to understand the market forces that create the need for enlightened marketing strategies in sport industry to understand marketing myopia & other obstacles to succesful marketing strategies to recognize the components of the sports industry

Sport Marketing Objectives 3:

OBJECTIVES 2: To appreciate the central role of segmentation in the marketing process to recognize the standard bases of market segmentation in sport

TAM and SAM

The shorter the ___ ___ ___, the more inelastic that demand becomes ex: Airfare, Game Tickets

TIME FRAME OF DEMAND

Also product ___ Repeat Business is the key to success (season-ticket holders vs. single-game attendance) serious runner seeks support, shock reduction, & long wear in shoes, casual wearer seeks light & fashionable shoes as regular footwear

Usage

APPROACHES TO PRICING II: Wt market will bear Dominant in sports, due to high demand Weakness:

Wt does the market bear?

THE SPORT PRODUCT: Any ___ or combination of qualities ,processes, capabilities (goods, services, or ideas) that a buyer expects will deliver "want" & "need" satisfaction

bundles

if items r not purchased often they will have an relatively ____ demand

elastic

TAM: Total Available Market -everyone w/ potential to see it SAM: Serviceable Available Market -

everyone you should sell to

DEMAAND-ORIENTED PRICING Determine wt ppl r willing to pay ex:

flying home, aggie game tickets

PRODUCT OF ELATICITY & INELATICITY Product necessity or luxury ______ - if the product is a necessity ex: ice-skates ____- if product is a luxury ex: round of golf at Augusta

inealstic elastic

PROUDCT SUBSTITUTE AVAILABILTY no subsitutes- ____ demand -demand will be more elastic if subs exist

inelastic

SECONDARY DATA SOUCES: (can find online) census report state or local agencies public ____ trade associations

libraires

DATA ON COMPETITORS: 5 1. Price ___ 2. product lines 3. promotional strategies 4. Description of services 5. comparisons among all similar orgs.

lists

MARKETING MYOPIA: 3 confession btw promotions & marketing ignorance of competition inside and outside the sport short-signed focus on quick-return price hikes or investments such as sponsorships rather than long-term investments in research & relationship ______

marketing

FREQUENCY OF PURCHASE: Frequency is linked to _____ frequently purchased items will have a relatively inelastic demand ex: skates sharpened

necessity

DATA ON COMPETITORS: Price list product lines promotional strategies description of services comparison among all simular ___

organization

PRIMARY MARKETING FUNCTION MODEL FOR SPORT: 4 1. To provide "packaged" events for spectators at the venue or via the mass media 2. provide facilities, equipment, & programming to the players, who then produce the game form 3. provide "packaged" games or events for spectators as well as facilities, equipment, & programing 4. provide general administration support control & publicly to other sport __

organizations

PURPOSE OF SEGMENTING: 4 1. Specialize 2. Focus on the most likely to buy 3. meet wants & needs w/ out exhausting resources 4. Sport Marketing mix is product, price, promotion, ____

place

STATE OF BEING: Where a person lives income age family status # of children

profession education gender sexual orientation race & ethnicity

APPROCHES TO PRICING I: Break-even-Analysis part of sport finance How many tickets needed to be sold at wt price to break even, every ticket sold after that point is ____

profit

INTERNAL DATA SOUCES: (can NOT find things online) sales record inuieries accounting records letters or phone calls of praise or complaint web site _____

registration

CHALLENGES IN SPORT MANAG. :3 1. Marketing Myophia 2.Lack of market ____ 3. Poor sales training & techniques

research

MARKETING MYOPIA: 3 lack of foresight in marketing ventures a focus on producing & selling goods & services rather than identifying & satisfying the needs & wants of consumers & their markets the belief that winning absolves all other ___

sins

2 MAJOR THRUTS OF SM: 1. Marketing of sport products to the consumer 2. Marketing of sport products thru the ___

sport

VALUE & LIFESYLE (VALS) TYPOLOGY: Innovators Thinkers Achievers experiencers believers

strivers makers survivors

IDENTIFYABILITY: , ACESSIBILITY, RESPONSIVNESS: 1. Identifiability: Can marketer identify a segment? 2. Accessibility: Can marketer access the segment? 3. Responsiveness: Will the segment be responsive to marketing efforts in terms of wants & needs, & is it worth targeting the segment?

they are all asking for money

CRM- Customer Relation Managment-

track relations of how often you watch something utilizing data

DBM= Data base management system or Data Base Marketing system which both mean

tracking ur data ex: demographics, ppl state of mind

COST-PLUS PRICING: Cost + desired profit/clients strength: works for event management Weakness: clients r not constant -cost plus pricing-

wt does it cost, wt return do I want, how can I make a certain amt. of money?