* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Difference between Sports & Entertainment
Planned obsolescence wikipedia , lookup
Pricing strategies wikipedia , lookup
Direct marketing wikipedia , lookup
Multicultural marketing wikipedia , lookup
Perfect competition wikipedia , lookup
Brand loyalty wikipedia , lookup
Product lifecycle wikipedia , lookup
Marketing strategy wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Revenue management wikipedia , lookup
Food marketing wikipedia , lookup
Youth marketing wikipedia , lookup
Ambush marketing wikipedia , lookup
Product placement wikipedia , lookup
Target audience wikipedia , lookup
Consumer behaviour wikipedia , lookup
Green marketing wikipedia , lookup
Predictive engineering analytics wikipedia , lookup
Global marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Neuromarketing wikipedia , lookup
Marketing channel wikipedia , lookup
Sensory branding wikipedia , lookup
Differences in Marketing Sports and Entertainment Events Differences in Marketing For example: Entertainment Sports Based on creative ideas that can be fashioned to fit the tastes of a target audience. Based on athletic ability and competition Differences Between Sports & Entertainment • Consumer loyalty • Product • Revenue stream Differences in Consumer Loyalty • Sports fans enjoy the drama of real competition and the unpredictability of each game. • Consumer loyalty occurs when consumers are happy with a company’s product and become repeat customers. • Sports marketers target a core group of fans & work on maintaining their team loyalty, or consumer loyalty. • Sports franchises spend more effort marketing a winning season to their target markets than trying to appeal to new and different consumer groups. Maple Leaf Sports & Entertainment • Owns Toronto Maple Leafs, Toronto Raptors, Toronto FC, Toronto Marlies, Toronto Rock Facts - Toronto Maple Leafs • Last year finished 25th in the 30-team NHL. • For seven seasons have not made it to the play offs. • Still attendance averaged 19,260 last season. • In platinum seats along the glass, people paid $1,317 a game for a pair of seats. Facts - Raptors • In 17 seasons the team has advanced to the second round of the playoffs just once. • This year they are predicted to finish in the cellar. • Average attendance last year was 17,897. • Court side tickets cost $2,240 a pair. Facts – Toronto FC • Has yet to make the playoffs in six seasons. • BMO field is sold out for nearly every home game. • Top ticket cost $97.00 Entertainment • The entertainment consumer is not motivated by brand or team loyalty, but by a desire for satisfying entertainment. • Subject to trends that dictate “what’s hot and what’s not”. Entertainment marketers target each product to a well defined consumer group. • An individual artist might successfully maintain a loyal fan base, but entertainment production companies have difficulty creating that same kind of consumer loyalty. Differences in Product • Another big difference between sports product and entertainment product is the consistency, or stability of the sport product and the variability or changeability of the entertainment product. • With sports the core product remains the same – a sports team in competition. • For entertainment products however, marketers have to predict a trend or fad, and produce the product to satisfy audience demand. Differences in Revenue Stream • Both sports and entertainment have their own streams of revenue. • With entertainment products many diverse streams of revenue can be generated. A single film can generate many ancillary products. • The products that make use of the original creative idea or characters make a profit for the owner through sales, royalties and licensing fees. • However, sporting events do not usually produce the same amount of revenue from merchandising and royalties as might an entertainment event. Sponsorship • Sponsorship is the promotion of a company in association with an event or property. Project or Event Sponsorship • One form of sponsorship is when a company sponsors or gives money to another person or company to fund a project or production in exchange for something, such as advertising. Corporate Box Sponsorship • Another form of sponsorship is corporate boxes in stadiums. • Corporations use them as a marketing tool to entertain and network with their own clients. Sponsorship – Naming Rights • Sponsorship revenue can also come from selling stadium naming rights. This is where the sponsors pay for the privilege of having stadiums named after their business. Advertising and Broadcasting Rights • Virtual advertising is a new phenomenon that has created revenue for sports teams and venues. • Companies can now pay to have their logos digitally overlaid onto a billboard during a televised game. • Sports franchise also earn revenue by landing broadcast deals with television companies. TV networks make million-dollar deals with sports leagues for exclusive rights to broadcast games.