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Sports Marketing Standard 1.1 Discover the World of Sports Marketing Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Standard One Students will discover the world of sports marketing and the use of marketing to promote sports and nonsports businesses in sports. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Standard One Projects Franchise Project Virtual Business Team City/Region Research CITY/REGION Team Name Research TEAM COLOR Team Logo/Mascot Find Examples of Mktg OF Sport Find Examples of Mktg THRU Sport Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports The Foundation of Marketing 1. Product or Service Planning 2. Pricing 3. Promotion 4. Distribution (Place) The FOUR P’s OF MARKETING 5. --- People --- Often Considered the Fifth P Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Producers 1. Individuals or Companies which have products to be sold. 2. They provide the “supply.” 3. They are willing to exchange the product or service for something of value. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Consumers 1. Individuals or Companies which have needs to be met and which have something to exchange. 2. They create a “Demand.” 3. They have something to exchange for a product or service and are willing to do so. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Products Good or Service Goods are Tangible o Example: Football, Jersey, or Hammer Services are In-tangible o Example: Game, Transportation, or Hair cut Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Scavenger Hunt Activity Item Standard One Location Sport/Non Sport Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Exchanges 1. Everyday transactions between producers and consumers 2. Typically trading money for a product or service Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Benefits of Marketing 1. Add UTILITY to goods and services 2. Makes buying convenient 3. Maintains reasonable prices 4. Provides a variety of goods and services 5. Increases production Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports 5 Utilities 1. Form utility – changing raw materials or assembling parts 2. Place utility – having a product where customers can buy it. 3. Time utility – having the product available at a certain time of year or time of day. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports 5 Utilities 4. Possession utility – making legal ownership through purchase options easier. 5. Information utility – information to customers about product’s features and benefits. (Ingredients, uses, safety precautions) Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Benefits Privileges, or monetary payments beyond salary or wages, that go with a job. o Examples: a company car, and expense account, bonuses. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports What is Marketed? 1. DURABLE GOODS 1. Three years or longer 2. NONDURABLE GOODS 1. Cannot be re-used 3. SERVICES 1. Cannot be stored 4. IDEAS 1. Can be sold and turned into a business Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports What is Marketed Cont.? 1. PEOPLE 2. PLACES 3. ORGANIZATIONS Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Sports Consumers 1. Consumers exchange money for a “wanted” good or service. 2. Sports Consumers exchange in different ways: 1. Spectators as Consumers • • Benefit by watching game Exchange for tickets and entertainment • • Benefit by playing or participating Exchange for equip. & participation 2. Participants as Consumers Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Sports Producers Sports Producers May Provide: o Events for Participation o Events for Entertainment Viewing o Sporting Goods and Equipment o Licensed Merchandise o Collectables and Memorabilia o Athlete Training o Sports Information o Event Coverage and Distribution Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Sports Marketing Marketing OF Sports Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Sports Marketing Marketing THRU Sports Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Sports Marketing Standard 1.2 Marketing Of & Through Sports Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports What IS Sports Marketing 1. Sports: a source of diversion engaged in for pleasure 2. Sports Marketing is the application of marketing principles to sports properties and to non-sports products using sports. Simply: 1. 2. Standard One Sports Marketing is the Marketing of Sports Sports Marketing is Marketing Through Sports Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Marketing OF Sports 1. Applying marketing Principles to the marketing of a “Sports Property” 2. Sports Properties: 1) 2) 3) 4) Standard One League Athlete Program Competition 5) 6) 7) 8) Team Stadium Event Contest 9) Arena 10) Meet Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports “Playas” In Mktg OF Sports 1. Teams 2. Leagues 3. Venues 4. Athletes 5. Agents WHAT IS THEIR JOB? Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Marketing OF SPORTS Examples: Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Marketing THROUGH Sports Marketing of Non-Sports products or services using sports as a media Using a team or event for marketing Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Marketing THRU SPORTS Examples: Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports What is Marketed at Sports Events? 1. Sponsor products or services 2. Traded products or services 3. Public Service Announcements (Ideas) 4. Other??? Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Borrowed Equity 1. Corporate Marketing Through Sports 2. Utilize the draw of the event for promotion a. Within Audience & Through Broadcast i. ii. iii. iv. v. vi. Standard One Increase Sales Increase Awareness Be More Competitive Reach the Target Market Build Relationships Develop a Corporate Image Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Event Triangle The model for studying the exchanges developed in Sports Marketing is formatted as an Event Triangle. The Event Triangle emphasizes the relationships between producers and consumers in the sports marketing model. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Event Triangle Components of the Triangle: 1. EVENT A 2. SPONSOR 3. FAN C Standard One B Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports The “Event” 1. The Event is the sporting event which will draw participants, spectators and sponsors. 2. The Event can be amateur or professional. 3. The Event may provide entertainment. 4. The Event may provide an opportunity for exposure for sponsors. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Examples of Events 1. Superbowl 2. NCAA “March Maddness” 3. World Series 4. RIIL State Playoffs 5. Your High School’s Homecoming 6. Turkey T-Shirts Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports The “Sponsor” 1. The Sponsor can use the Event to reach important consumers for the company. 2. The Sponsors can utilize the draw of the Event to market its products or services. 3. The Sponsor can leverage its relationship to further business opportunities. 4. “Borrowed Equity” Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports The “Fan” 1. The Fan typically attends the Event as a source of entertainment. 2. The Fan usually pays to attend the Event. 3. The Fan may be exposed to promotions for the event and event sponsors. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Create your own Event Triangle Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Exchanges in the Triangle 1 1. Event Fan Exchanges money o Event: entertainment, o Fan: merchandise, … FAN EVENT SPONSOR Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Exchanges in the Triangle 2 1. Event Sponsor Exchanges money, products, services,… o Event: exposure, promotion, sales o Sponsor: opportunities, FAN EVENT SPONSOR Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Exchanges in the Triangle 3 1. Sponsor Fan Exchanges o Fan: money o Sponsor: products or services FAN EVENT SPONSOR Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Update your Event Triangle Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Sports Marketing Process Sports Marketing Process includes Planning, Implementing, and Controlling the event. In the Sports Marketing Process, the step of Planning consists of understanding consumer needs, selecting markets, and determining a marketing mix for a sports product or service. In the Sports Marketing Processes, the step of Implementing consists of setting up, running, and evaluating an event. In the Sports Marketing Processes, the step of Control consists of determining whether organizational target and objectives where met and analyze the activities undertaken in order to implement future plans and control the marketing strategies. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Event Marketing Concerns 1. Draw a. How far away people are willing to travel 2. Promotion a. Increase Interest, attendance and draw through Personal Selling, Public Relations, Licensing, Sales Promotion, & Advertising 3. Sales Opportunities a. Ability for Sponsors to realize R.O.I. 4. Ambush Tactics a. Non-sponsor companies trying to get borrowed equity from the event for free. Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports The Fan’s Role in Sports 1. Fan = “Fanatic” a. Someone who is interested, involved and engaged in the event. i. ii. Football, Basketball, Baseball, Golf Chess, Darts, Shuffleboard, Curling b. Fan is the reason for Sports Marketing i. IS the power behind success of sports ii. IS the economic force iii. SHAPES the game with attention Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Effects of Media Broadcasting on the Event Triangle 1. Expansion of the Target Market 2. Expansion of marketing opportunities 3. Expansion of distribution & consumption of the event and ancillary events. a. Examples: Cable, Satellite, Pay-Per-View Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Draw the Dynasty Cycle Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports Standard One Projects Franchise Project Virtual Business Team City/Region Research CITY/REGION Team Name Research TEAM COLOR Team Logo/Mascot Find Examples of Mktg OF Sport Find Examples of Mktg THRU Sport Standard One Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports