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Essay / Market Research Implementation Plan - 2075
Market Research Implementation PlanUse of market research regarding the Yankees organizations' proposed increase in ticket, concession and merchandise prices to enable the organization to financially obtain a Major League Baseball (MLB) championship team. An online secondary research resource is selected and applied to the marketing research implementation plan. Additionally, two of the four market research tools analyzed previously will be selected to develop two survey instruments. Recommendations on sampling procedures for implementing survey instruments are also discussed. Yankees Secondary Market Research Is the Yankees payroll almost laughable at this point? For the better part of the last two decades, the New York Yankees have spent more than twice as much as nearly 60 percent of the league. Last year, the Yankees' payroll was nearly $200 million. The Kansas City Royals' payroll was $36 million (CBS Interactive, 2011). Due to the Yankees' massive payroll, the team had to increase the costs of tickets, merchandise, food and beverages to compensate for its exorbitant payroll. Secondary research shows the following cost statistics: the average cost of a ticket to a Yankees game is $80; the average cost of a ticket to a Cincinnati Reds game is $15 (SeatGeek, 2011). The average cost of a premium seat is $312; the cost of a beer is $6; the cost of a hot dog is $3; the average cost of parking is $35; the average cost of a hat is $25 (Team Marketing Report, 2011). The Yankees will argue that if Yankees fans want a championship, the organization needs to spend that kind of money on players and franchises. The consequence is these enormous prices for tickets and merchandise. This doesn't seem to bother fans as the ...... middle of paper ......h ed.). Upper Saddle River, NJ: Prentice Hall.CBS Interactive. (2011). MLB Salaries. Retrieved November 26, 2011 from http://www.cbssports.com/mlb/salaries.Forbes.com, LLC. (2011). The Business of Baseball #1 New York Yankees. Retrieved November 26, 2011 from http://www.forbes.com/lists/2011/33/baseball-valuations-11_New-York-Yankees_334613.html. McDaniel, C. and Gates, R. (2006).Marketing research (7th ed.). Noboken, NJ: John Wiley & Sons. McDaniel, C. and Gates, R. (2007). Essentials of marketing research (6th ed.). Noboken, NJ: John Wiley & Sons. Newman, M. (2011). MLB has the fifth highest attendance total. MLB.com. Retrieved from http://mlb.mlb.com/news/article.jsp?ymd=20110929&content_id=25390384&vkey=news_mlb&c_id=mlbSeatGeek. (2011). New York Yankees ticket prices. Retrieved November 26, 2011 from http://seatgeek.com/new-york-yankees-ticket-prices/