Download Chapter 1 Name: 1 Chapter 1 Name: Marketing – Marketing

Chapter 1
Name:__________________________
Marketing –
Marketing Concept –
Market –
Needs –
Wants –
Target Market –
Demographics –
Marketing Mix –
Channel of Distribution –
1
Chapter 1
Name:__________________________
Economics –
GDP –
Profit –
Competition –
Copyright –
Chapter 1
Case Study – Olympic Benefits page 5 and 17
1. List the potential profits for a city that hosts the Games.
2. What might be some disadvantages for a city hosting the Olympic Games?
3. Identify the products and the related products produced by the Olympic Games?
2
Chapter 1
Name:__________________________
Hot Property page 7
1. Why does Nike seek athletes to help market the company’s products?
2. What do you think attracts buyers most about Air Jordans – the performance of
the shoe or the image of Michael Jordan?
1.1 What is Marketing
Goals
 Define marketing
 Explain the marketing concept
 Define demographics
 Explain the marketing mix
The Importance of Sports and Entertainment Marketing
An organized __________________ __________________ with __________________
that __________________ specific consumers is essential to capture a share of the
customer’s dollar. This is the foundation of Sports and Entertainment Marketing.
Marketing Defined
Goods –
3
Chapter 1
Name:__________________________
Services –
The Marketing Process
*__________________ products involves studying __________________ to determine
what they __________________, and then designing the products that will satisfy their
__________________ and __________________.
*__________________ activities help to educate consumers, create interest and desire,
make a sale, and create an image for a company and its products.
*__________________ is the means of getting the product into the hands of the customer.
Some companies sell their products __________________ to the customer through
__________________ - __________________ efforts, such as direct mail, telephone
solicitation, or the Internet. Others use intermediaries such as __________________ and
__________________, to distribute their products.
The Marketing Concept
Successful organizations recognize the importance of their __________________ and
follow a __________________ __________________. To be __________________,
businesses must focus their efforts on customers’ __________________ and
__________________.
The Market
The first step in creating a marketing concept involves identifying __________________.
Potential __________________ are referred to as a __________________ if they meet
4
Chapter 1
Name:__________________________
certain criteria.
Needs and Wants
Examples:
Needs
Wants
Mass Marketing vs. Market Identification
Business have not always identified their __________________ __________________ to
__________________ products. Back in the 1950’s __________________
__________________ was more common. It involved promoting products with one key
message that is directed to everyone. Today, marketing efforts are much more
sophisticated due to availability of __________________ and __________________
__________________.
The Marketing Mix
The Four P’s
1. __________________ Decisions –
2. __________________ Decisions –
5
Chapter 1
Name:__________________________
3. __________________ Decisions –
4. __________________ Decisions –
1.2 Economics of Marketing
Goals
 Explain economics and free enterprise
 Identify intellectual property rights
 Explain the different types of business ownership
 Explain the economic impact of sports and entertainment
Economic Basics
People and countries have unlimited __________________ and __________________ but
only limited __________________.
Gross Domestic Product
To meet the unlimited __________________ and __________________ of its people and
businesses, governments study __________________ indicators to make decisions
because of limited __________________ from taxpayers.
Profit –
Risk –
Competition –
6
Chapter 1
Name:__________________________
Price Competition
Price
Demand (_______________) Relationship
The relationship between price and demand
is _____________ because when prices
____________, demand _____________
and when price _____________ demand
___________.
WHY????
Price
Supply (_______________) Relationship
The relationship between price and supply is
driven by _____________ because when
prices ____________, supply
_____________ and when price
_____________ supply ___________.
WHY???
SO … why care about these relationships at all? What do they have to do with
economics and ultimately marketing? The answer is scarcity!
Non-Price Competition
Non-price competition involves factors other than price, such as
__________________, __________________ or __________________.
Property Ownership and Intellectual Property Rights
Inherent in the free enterprise system is the right to own __________________ and
to start a __________________.
Copyrights
Royalty –
7
Chapter 1
Name:__________________________
Patents
How long are patents granted for?
Trademarks
What is the difference between copyrights and trademarks?
Types of Business Ownership
In the free enterprise system, entrepreneurship is business __________________.
Entrepreneurs take financial __________________ in hopes of getting a return on
their investment.
Sole Proprietorship –
Partnership –
Corporation Subchapter S Corporation –
Economic Impact
Local Events –
High School Events –
The Olympics –
8
Chapter 1
Name:__________________________
The 4 P’s: Product, Price, Place and Promotion
Choose a target market. Then create a basic marketing mix for a sports or
entertainment product of your choice. Make your decisions and write them on the
lines.
Target Market:
1. Sports and/or entertainment product:
2. Price:
3. Place:
4. Promotion:
9