Importance of Market Research
The Importance of Market Research
Matthew McCoy
MKT 441
November 5, 2012
Virginia Radosh
The Golden State Warriors are one of the most business savvy organizations in all of professional sports. The team entertains one of the loudest and most supportive crowds in the NBA. At this point in time they are currently in the process of moving from the Oracle Arena in Oakland to a water front stadium off the San Francisco pier. This paper will outline the marketing research that has been done thus far, and how that could impact the organization positively or negatively. Finally, the paper will include any additional ways that market research can be done to benefit the organization. Market research is research that is gathered or analyzed by companies to determine how the target audience views the company and their products or services. To evaluate what their current fans thought of the move, the Warriors organization used polls and surveys to gauge the fans opinion of the move to San Francisco. This step is known as customer satisfaction research, and it provides an understanding of the consumer’s satisfaction with the product or services. To better judge the fans approval of the move, the Warriors created a phone survey that polled city voters. They found that of the 556 voters, 68 percent of San Franciscans supported the general concept of the project, and that rose to 80 percent once the project details were presented (Billings, 2012). Most fans were delighted to learn that the owners and various corporations would privately fund the arena. Another contributing factor to the rise in the polls is the detailed plan of how the Warriors plan to exclude any sort of city tax, thus relieving the citizens of any added financial burden. This information is slightly skewed however, because it was taken from customers surrounding the area where the new arena would be built. A more accurate view of how fans feel about this topic can be found in the data that shows about
Matthew McCoy
MKT 441
November 5, 2012
Virginia Radosh
The Golden State Warriors are one of the most business savvy organizations in all of professional sports. The team entertains one of the loudest and most supportive crowds in the NBA. At this point in time they are currently in the process of moving from the Oracle Arena in Oakland to a water front stadium off the San Francisco pier. This paper will outline the marketing research that has been done thus far, and how that could impact the organization positively or negatively. Finally, the paper will include any additional ways that market research can be done to benefit the organization. Market research is research that is gathered or analyzed by companies to determine how the target audience views the company and their products or services. To evaluate what their current fans thought of the move, the Warriors organization used polls and surveys to gauge the fans opinion of the move to San Francisco. This step is known as customer satisfaction research, and it provides an understanding of the consumer’s satisfaction with the product or services. To better judge the fans approval of the move, the Warriors created a phone survey that polled city voters. They found that of the 556 voters, 68 percent of San Franciscans supported the general concept of the project, and that rose to 80 percent once the project details were presented (Billings, 2012). Most fans were delighted to learn that the owners and various corporations would privately fund the arena. Another contributing factor to the rise in the polls is the detailed plan of how the Warriors plan to exclude any sort of city tax, thus relieving the citizens of any added financial burden. This information is slightly skewed however, because it was taken from customers surrounding the area where the new arena would be built. A more accurate view of how fans feel about this topic can be found in the data that shows about