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Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing.

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Presentation on theme: "Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing."— Presentation transcript:

1 Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing 1.3 Entertainment Marketing 1

2 Sports and Entertainment Marketing © Thomson/South-Western Sports Marketing Learning Targets: I can describe the basic concepts of marketing. I am able to explain the Marketing Mix. I can define the Six Core Standards of marketing.

3 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 3 Key Terms: marketing marketing mix product distribution price promotion discretionary income

4 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 4 WHAT IS MARKETING? Marketing Is the planning and executing the conception, pricing, promotion and distribution of ideas, good, and services to create that satisfy individual and organizational objectives. Simply stated Marketing is the creation and maintenance of a satisfying exchange.

5 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 5 Continued… Simply stated Marketing is the creation and maintenance of a satisfying exchange. Creation – product/service development. Maintenance – it must be continuous. Satisfaction – meet the needs/wants of businesses and customers. Exchange – business and customers both give and receive something of value.

6 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 6 Satisfying Customer Needs Identify your customer Identify needs/wants of your customer Develop superior products Operate your business profitably

7 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 7 Sports and Entertainment Marketing Marketers of sports and entertainment marketing must assess; consumer demand the competition the financial valuation of the goods and services they offer

8 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 8 THE MARKETING MIX Marketing Mix how a business blends the following four elements Product Distribution (Place) Price Promotion aka – the Four P’s of Marketing

9 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 9 what a business offers to satisfy needs/wants. goods and services Can be either tangible or intangible or both. Distribution (Place) the locations and methods used to make products available to customers. Ex: Online, mail order, Bricks-N-Mortar Product

10 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 10 amount customers pay for products. Amount that is listed on the price tag, ticket, bill, etc. Promotion ways to make customers aware of products. encourages customers to buy. Ex: advertising, publicity, personal selling, and public relations. Price

11 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 11 Marketing Mix Considerations Satisfying Customers Must satisfy customers needs/wants by 1.Offer what they want 2.When they want it 3.Where they want it 4.For how much they are willing to pay Discretionary / Disposable Income the amount of money individuals have available to spend after paying for necessities Striking the right balance between price, distribution and promotion is important.

12 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 12 A Marketing Mix Example in the Sports Industry The product the Super Bowl offers is a game between the best teams of the AFC and NFC. Consumer costs extend beyond ticket prices and include travel and lodging expenses. Distribution includes the location of the host city and ticket sales. Promotion involves media outlets and related- product contests.

13 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 13 Inclass Assignment/Bell Ringer / Exit Slip: Opening Act pg. 4 Work with a partner or solo Read – answer what it is asking. We will discuss your findings tomorrow.

14 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 14 Opening Act pg. 4 Identify four advertising campaigns that feature celebrities or athletes. Do they encourage consumers to make a purchase?

15 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 15

16 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 16 CORE STANDARDS OF MARKETING

17 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 17 Distribution involves determining the best way to get a company’s products and services to customers. Examples: In stores, online, via mail order Distribution

18 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 18 gathering and using information about customers to improve business decision making Example: Telemarketers calling you and asking you various questions. Marketing-Information Management

19 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 19 the process of establishing and communicating to customers the value or costs of goods and services. Price is typically linked to consumer demand. Pricing

20 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 20 designing, developing, maintaining, improving and acquiring products or services to meet customer needs. Examples: Sony comes out with bought out Product/Service Management

21 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 21 using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome. Examples: Sales ads, Commercials on TV. Promotion

22 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 22 any direct and personal communication with customers to assess and satisfy their needs now and in the future. Examples: Sales and customer service representatives. Progressive Insurance Best Buy Selling

23 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 23 A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services. Example: Note – customers are more likely to make a purchase when they have more than one payment option. Financing

24 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 24 Inclass Assignment / Bell Ringer / Exit Slip: ENCORE! pg.11 Read and Answer #4 Due (start of class) – Aug. 22nd

25 Sports and Entertainment Marketing © Thomson/South-Western #3 Purchased Four Reds Tickets Financing – used credit card (had to pay in full) Pricing – $24 per ticket (half-off face value) Promotion – REDS alert, newspaper PSM – None Distribution – received by mail (could have picked them up at Will Call) Selling – from REDS ticket office MIM – had to give personal information (name, address, phone #) Chapter 1 Slide 25

26 #4 1926

27 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 27 Lesson 1.2 Sports Marketing Learning Targets I can identify sports marketing strategies. I understand the importance of target markets.

28 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 28 Terms Target Market demographics sports marketing gross impression

29 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 29 WHY SPORTS MARKETING? Sports Marketing using sports to market products Target Market Specific group of people you want to reach (your “Target”) By researching their Demographics Demographics common characteristics of a group age, gender, marital status, income level education level, location

30 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 30 New Sports, New Opportunities creates new ways for businesses to make money through sports Arena Football Frisbee Golf Extreme Sports (X-Games) Aero-ball

31 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 31 Gross Impression Marketing strategy used by businesses the number of times per advertisement, game, or show that a product or service is associated with an athlete, team or entertainer is shown.

32 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 32 Timing Businesses musk act when Fans want products and services Teams Wins Addition of Popular Players Trends/Styles change Marketing efforts will change Winning/Losing Positive/Negative Press Trends/Styles change

33 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 33 THE VALUE OF SPORTS MARKETING it is a multi-billion-dollar global industry Businesses know there is money to be made.

34 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 34 Emotional Value connections to teams, players based on Tradition Family Where you live What you know (like/watch) Emotions - major factor in what consumers BUY and why they BUY and when they BUY.

35 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 35 So Many Channels High profile sporting events generate strong promotional revenues for broadcasters. Bowl Games Rivalry Games Preseason Tournaments Championship Games How many sports channels do you have? Dish Network – 100+ Insight Cable – ?

36 Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 36 Inclass Assignment/Bell Ringer / Exit Slip: Read pages Answer the questions 1-12, 14 and 16 You must me your answers by start of class on Friday August 23 rd.


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