2.01 Marketing Information Management. Why learn about MIM? A. Marketers are required to make many...
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Transcript of 2.01 Marketing Information Management. Why learn about MIM? A. Marketers are required to make many...
![Page 1: 2.01 Marketing Information Management. Why learn about MIM? A. Marketers are required to make many different types of decisions. 1. Choosing the best.](https://reader036.fdocuments.us/reader036/viewer/2022062422/56649f175503460f94c2d38f/html5/thumbnails/1.jpg)
2.01
Marketing Information Management
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Why learn about MIM?
A. Marketers are required to make many different types of decisions.
1. Choosing the best target markets for new products
2. Selecting advertising media for existing products
3. Specifying products to be discontinued
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Why learn MIM?
B. Marketers rarely base their decisions on gut instinct.
C. Rather than relying on their own personal knowledge of problems, marketers
base their decisions on reliable, relevant marketing information.
D. This information comes from a marketing-information management system.
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Explain the need for sport/event marketing information
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VOCABULARY
Marketing Information – Data collected from internal or external sources to help make marketing decisions
Facts – Something that actually exists; reality; truth
Estimates – An approximate judgment or careful calculation about the impact of a product
Predictions – A forecast of something to happen
Relationships – What happens to products, estimates or predictions based on changes
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Data vs. Information
Data and information are related to each other, but they are not the same.
A. Data are facts and figures.B. Information is facts and data presented in a
useful form.
C. For data to become information, they must be:
1. Processed 2. Organized 3. Presented in an understandable,
meaningful manner
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TYPES OF MARKETING INFORMATION
PRIMARY DATA: Original DATA or FACTS collected for a purpose
SPECTATORS and PARTICIPANTS major SOURCES of Primary Data
(ie: Concert attendees, Game attendees, Gym Members)
SECONDARY DATA: Information and conclusions gathered from
reviewing primary data 2 Types:
INTERNAL EXTERNAL
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INTERNAL DATA
INFORMATION/RECORDS WITHIN ORGANIZATION Request and Complaint Reports from customers Lost Sales Reports (Returns, damages)
Advantages Disadvantages•Saves money•Easily accessed
•Doesn’t acknowledge market•Might not be up-to-date
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EXTERNAL DATA
Information/Records Outside the organization
Identifies TARGET MARKET INFORMATION GOVERNMENT SOURCES/ DEMOGRAPHIC
RECORDS POPULATION INFORMATION in certain geographic
locations Identify locations of certain target markets
Is there a large enough population in a certain area to support a sport team/event?
Internet External Data/ E-Marketers CLICKSTREAM DATA
Tells e-marketers what web sites and advertisements internet-users see
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USES OF MARKETING INFORMATION
IDENTIFY TRENDS
Determine what changes are occurring in
the market
Identify realistic goals
Attracting and maintaining target
market
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WAYS to use Marketing Information Be SYSTEMATIC (organized)
Be PROACTIVE seek and take advantage of opportunities
Collect accurate data CONSTANTLY Keep up with changing needs of target
market
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IMPACT of Marketing Information
Keep up with changing TRENDS
Better reach to the target market
Don’t waste money on ineffective
advertisingTrends in 2012Trends in 2012
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“You Do”
Article Activity Mrs. Byers will hand you selections from
an article about project planning You will read the selection and then
create a poster showcasing what you learned from your selection
You will present this to the class You will answer questions about each
selection