Download sports and entertainment marketing

SPORTS AND ENTERTAINMENT
MARKETING
UNIT ONE
MARKETING AND SPORTS & ENTERTAINMENT
• Chapter 1—World of Marketing
• Basic principles of Marketing
• Demographics
• Marketing Mix
• Chapter 2—Connections and Contrasts
• History and Background
• Legal issues
• Business risks
FUNCTIONS OF MARKETING
Unit 1: Promotion, Product/Service Management, Distribution, Selling, Pricing, Marketing Information
Management
Chapter 1
World of Marketing
• The Importance of Sports and Entertainment Marketing
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Two most profitable industries in U. S.
Billions of dollars spent each year
Main export of U. S.
Vendors compete for share of market
Why is it important?
• With so many businesses competing for
attention, an organized marketing plan with
strategies that target specific consumers is
essential.
• This is the foundation of sports and
entertainmentmarketing.
Marketing Defined
• The process of developing, promoting, and
distributing products, or goods and services,
to satisfy customers’ needs and wants.
MARKETING DEFINED
• GOODS—TANGIBLES
• SERVICES--INTANGIBLES
MARKETING PROCESS
• Developing—
– study consumers to determine what they want
– design products to satisfy wants and needs
MARKETING PROCESS
• PROMOTIONAL—
– Educate consumers
– Create interest and desire
– Make a sale
– Create an image for a company and its products
– Newspapers, magazines, radio, TV, direct mail
Internet advertising
MARKETING PROCESS
• DISTRIBUTION—
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Means of getting the product into the consumers hands
Buying and selling
Sell directly to the customer
Intermediaries--wholesalers
Marketing Concept
• The idea that organizations need to satisfy
their customers while also trying to reach
their organizations’ goals
• Focus on customers’ needs and wants
MARKET
• Identify the customer
• Have the desire and ability to buy a product
MARKET
• NEEDS
• WANTS
MARKET
• TARGET MARKET
– a specific group of consumers that an organization
selects as the focus of its marketing plan
– makes developing marketing plan easier to
accomplish
MASS MARKETING vs. MARKET IDENTIFICATION
• More common in 1950’s
• One key message directed to everyone
• More sophisticated
• Availability of information and computer technology
• Market research companies
• DEMOGRAPHICS
– Statistics that describe a population in terms of
personal characteristics
– Age, income, occupation, gender, ethnic
background, educational levels
MARKETING MIX
• 4 P’s
MARKETING MIX
• PRODUCT
• Involve the goods, services, or ideas used to satisfy
consumer needs
• Designing, naming, and packaging a product
MARKETING MIX
• PRICE
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Exchange process between customer and seller
How much should be charged?
How much does it cost to make?
Expenses related to marketing
What is the consumer willing to pay?
MARKETING MIX
• PLACE
• Make the product available to the customer.
• How and where does target market shop?
• Channel of distribution—path a product takes
from producer to consumer
MARKETING MIX
• PROMOTION
• Communicated to the consumer
• Advertising, sales promotion, publicity, personal selling
• Selection of media as well as message to be delivered
• What items in this topic are similar to what we
have already studied?
• What words are new?