Download Bell Ringer (5 minutes)

Bell Ringer (5 minutes)
• Carlos ordered food at Sonic for $6.79. He
plans to give the carhop a $1 tip out of his
$10. How much change will Carlos receive
back from the carhop - after tip?
Bell Ringer Answer
• $6.79 + $1.00 (tip) = $7.79
• $10.00 - $7.79 = $2.21
• Carlos would receive $2.21 back from the
carhop after leaving a $1.00 tip.
Agenda
• Bell Ringer - (10 minutes)
• Discuss daily objectives - (2 minutes)
• Lecture / Introduction to Sports Marketing –
(40 minutes)
• Quiz – (18 minutes)
Vocabulary Words
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Marketing
Marketing Mix
Product
Distribution
Price
Promotion
Daily Objectives
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Define marketing
Describe the basic concepts of marketing
Explain the marketing mix
Define the six core standards of marketing
What is Sports
Marketing?!
Discussion Questions
• How would you define sports and entertainment marketing?
• Describe the consumers of sports and entertainment products.
• What kinds of marketing strategies do you think sports and
entertainment businesses use?
• Do you think sports and entertainment marketing affects the
economy? In what ways?
• Do you think sports and entertainment have always been big
businesses?
• What kind of marketing do you think was done for sports and
entertainment 100 years ago?
• What is one difference between watching a sports game and
watching a movie?
• Name some athletes and celebrities who have endorsed sports and
entertainment products?
Marketing
• The creation and maintenance of satisfying
exchange relationships.
– Planning and Executing the conception, pricing,
promotion, and distribution of ideas, goods, and
services to create exchanges that satisfy individual
and organizational objectives.
The Marketing Mix
• To perform the tasks associated with
marketing, marketers rely on a marketing mix.
• The marketing mix describes how a business
blends the four marketing elements of
product, distribution, price, and promotion.
4 P’s
• Product  what a business offers customers to
satisfy needs. Products includes goods and
services.
• Distribution/Place  the locations and methods
used to make products available to customers.
• Price  the amount that customers pay for
products.
• Promotion  Ways to make customers aware of
products and encourage them to pay.
Marketing Mix Considerations
• Marketers must carefully consider the many
factors that affect the marketing mix elements
because of the lack of discretionary income.
• Discretionary Income is the amount of money
individuals have available to spend after
paying for the necessities of life and other
fixed expenses, such as housing and car
payments.
Marketing Mix Considerations
PRODUCT
• Product offerings must be constantly evaluated
and updated, because what is popular this year
may not be popular next year.
• Markets must consider the quantities of the
products to produce.
– Too much of a product could result in price
markdowns. Too few of a product could result in lost
sales.
Marketing Mix Considerations
Price
• Businesses must offer products and services
are prices that consumers are willing to pay.
• Prices charges for sports and entertainment
events must be sensitive to consumer demand
and the state of the economy.
Marketing Mix Considerations
Distribution
• Involves transporting or delivering goods to
the final consumer.
• The distribution of an event involves planning
the location where the event will take place,
or how the uniforms will arrive to the field.
Marketing Mix Considerations
Promotion
• Essential to inform prospective customers
about sports and entertainment events and
products.
• Forms of promotion can range from
advertisements to in-stadium advertising
through special offers and ticket-stubs.
• Promotion requires creativity to keep the
attention of prospective customers.
Six Core Standards of Marketing
Assessment:
1. Which core standard involves catering and
using data to make future business
decisions?
2. What are the four functions of the marketing
mix?
3. Think of one of your recent purchases. List
and describe how the six core standards of
marketing were involved with the purchase.