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What Is Sports and Entertainment Marketing?

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Presentation on theme: "What Is Sports and Entertainment Marketing?"— Presentation transcript:

1 What Is Sports and Entertainment Marketing?
1 What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing 1.3 Entertainment Marketing

2 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 Key Terms: marketing marketing mix product distribution price
promotion discretionary income Chapter 1

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. Chapter 1

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. Chapter 1

6 Satisfying Customer Needs
Identify your customer Identify needs/wants of your customer Develop superior products Operate your business profitably Chapter 1

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 Chapter 1

how a business blends the following four elements Product Distribution (Place) Price Promotion aka – the Four P’s of Marketing Chapter 1

9 what a business offers to satisfy needs/wants. goods and services
Product 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 Chapter 1

10 amount customers pay for products.
Price 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. Chapter 1

11 Marketing Mix Considerations
Satisfying Customers Must satisfy customers needs/wants by Offer what they want When they want it Where they want it 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. Chapter 1

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. Chapter 1

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. Chapter 1

14 Do they encourage consumers to make a purchase?
Opening Act pg. 4 Identify four advertising campaigns that feature celebrities or athletes. Do they encourage consumers to make a purchase? Chapter 1

15 Chapter 1

Chapter 1

17 Distribution Distribution involves determining the best way to get a company’s products and services to customers. Examples: In stores, online, via mail order Chapter 1

18 Marketing-Information Management
gathering and using information about customers to improve business decision making Example: Telemarketers calling you and asking you various questions. Chapter 1

19 Pricing the process of establishing and communicating to customers the value or costs of goods and services. Price is typically linked to consumer demand. Chapter 1

20 Product/Service Management
designing, developing, maintaining, improving and acquiring products or services to meet customer needs. Examples: Sony comes out with bought out Chapter 1

21 Promotion 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. Chapter 1

22 Selling 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 Chapter 1

23 Financing 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. Chapter 1

24 Inclass Assignment / Bell Ringer / Exit Slip: ENCORE! pg.11
Read and Answer #4 Due (start of class) – Aug. 22nd Chapter 1

25 #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

26 #4 19

27 Lesson 1.2 Sports Marketing
Learning Targets I can identify sports marketing strategies. I understand the importance of target markets. Chapter 1

28 Terms Target Market demographics sports marketing gross impression
Chapter 1

29 WHY SPORTS MARKETING? Sports Marketing Target Market
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 Chapter 1

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 Chapter 1

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. Chapter 1

32 Timing Businesses musk act when Marketing efforts will change
Fans want products and services Teams Wins Addition of Popular Players Trends/Styles change Marketing efforts will change Winning/Losing Positive/Negative Press Chapter 1

it is a multi-billion-dollar global industry Businesses know there is money to be made. Chapter 1

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. Chapter 1

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 – ? Chapter 1

36 Inclass Assignment/Bell Ringer / Exit Slip: Read pages 17 - 22
Answer the questions 1-12, 14 and 16 You must me your answers by start of class on Friday August 23rd. Chapter 1

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