MARKET RESEARCH AS A FUNCTION OF MARKETING DEVELOPMENT IN SPORTS

Dejan Dašić; Gruja Kostadinović; Alla Kim

doi:10.58984/smbic2301273d

Authors

Dejan Dašić Faculty of Law, Security and Management "Constantine the Great" Nis; Faculty of Sport Belgrade University Union "Nikola Tesla" Author
Gruja Kostadinović Dean Faculty of law, security and management "Constantine the Great" – Niš Author
Alla Kim al-Faraby Kazakhstan National University, Dept. Of General and Applied Psychology Author

DOI:

https://doi.org/10.58984/smbic2301273d

Keywords:

market research, sport, segmentation, consumer, sports industry

Abstract

Marketing research is a vital component in any successful business strategy. It involves collecting and analyzing data about market trends, customer preferences, and competitor activities to make informed decisions. This process helps companies understand their target audience better, identify new market opportunities, and gain a competitive edge. Segmentation in the sports market is a key process in the marketing of sports products and services. In essence, it fulfils the marketing manager’s need for knowledge of the market. The task of marketing research is to help specify and supply accurate information to reduce the uncertainty in decision-making. Although marketing research provides information about consumers and the marketplace for developing and implementing marketing plans and strategies, it is not the only source of information. By understanding their target audience's characteristics, preferences, and location, companies can create tailored marketing strategies and offerings that effectively meet the needs of their consumers. Segmenting the sports market allows businesses to maximize their marketing efforts and increase their chances of success in this highly competitive industry.

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