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Similarities and Differences between Sports and Entertainment Marketing Brainstorm How do you think sports and entertainment marketing are similar? How do you think sports and entertainment marketing differ? Marketing Similarities • • • • • • Services not goods (usually) Endorsements Core and Ancillary Products Pricing Problems Product Tie-ins and Cross Promotion Business Risk Using Celebrity Endorsers = Same Core and Ancillary Products = Same Entertainment Sports • Core Product – the main product (sports event, movie, stage show, etc) • Ancillary Product – a product related to or created from the core product Pricing Problems = Same Pricing different than consumer products Price is set based on what theatres and sports teams can charge Change more frequently based on demand Rarely lower prices Ticker scalpers and piracy Product Tie-Ins and Cross Promotion = Same Product Tie in – use of ancillary products such as merchandise as promotional tools Happy Meal at McDonald’s toy included character from newest Disney film or sports figure bobble head Film promotions on talk shows Cross Promotion – any form of communication through which one industry relies on another industry to promote its product Film promotion – celebrities use their personal appeal to persuade viewers to buy products Business Risk = Same Cancelled events Cancelled seasons Unpredictable nature of the product 1994–95 NHL lockout, cancelled many of the games and shortened the regular season to 48 games per team 2004–05 NHL lockout, which cancelled all of the games of the 2004–05 season 2011 NBA lockout was the fourth lockout in the history of the National Basketball Association 1994–95 Major League Baseball strike was the eighth work stoppage in baseball history Revenue Consumer Loyalty = Different Sports Fans are more loyal Entertainment interests often change through life stages Marketing Differences • Consumer loyalty • Sponsorship • Revenue stream Consumer Loyalty = different Sports marketers target a core group – try to maintain team loyalty If an entertainment product does not deliver the expected level of entertainment – consumers turn to competition Entertainment products do not enjoy the same stability as sports products Entertainment marketers have to predict the trend or fad and develop a product to meet it Revenue Stream = different Entertainment products can be developed into merchandise – used for promotion Create profit through sales of ancillary products Sports team usually does not produce the same amount of revenue from merchandise and royalties as does an entertainment venue Sponsorship Revenue = Different • Sports products earn more in sponsorship and advertising/broadcasting rights • Exclusive coverage of football games