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Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter The Product Is Sports and Entertainment 7.1 The Product Mix 7.2 Recruiting Athletes.

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Presentation on theme: "Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter The Product Is Sports and Entertainment 7.1 The Product Mix 7.2 Recruiting Athletes."— Presentation transcript:

1 Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter The Product Is Sports and Entertainment 7.1 The Product Mix 7.2 Recruiting Athletes and Entertainers 7.3 Customized Entertainment 7.4 Product Marketing Strategies 7

2 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 2 Winning Strategies Brad Pitt has used his fame to draw attention to those in need. children with AIDS in Africa the plight of Haitian children global poverty conditions helped sponsor architectural competition to rebuild part of New Orleans Fame and Fortune Used to Benefit Those in Real Need

3 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 3 Lesson 7.1 The Product Mix Goals Define product mix, product extension, and product enhancement. List and describe the components of the product mix.

4 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 4 Terms product mix product extensions product enhancements product line brand trademark licensed brand

5 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 5 WHAT IS A PRODUCT MIX? tangible parts physical features that can be seen and felt intangible parts the nonphysical service features

6 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 6 the total assorted features associated with the product brand name various products offered under the brand product packaging product extensions items added to a product to make it more attractive to the target market guarantees warranties instructional CDs product mix

7 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 7 Basic vs. Enhanced Product product enhancements features added to the basic product that satisfy additional needs and wants with the same purchase add value to the product and may increase the purchase price

8 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 8 Provide three examples of a product enhancement.

9 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 9 PRODUCT MIX COMPONENTS Product mix includes product line, packaging, and brand development.

10 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 10 Product Line product line a group of similar products with slight variations to satisfy the different needs of consumers

11 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 11 Packaging Product packaging components to consider include ease of use safety accessibility environmental friendliness

12 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 12 Brand brand the name, symbol, word, design, or combination of these elements that identifies a product, service, or company trademark the legal protection of words and symbols used by a company licensed brand a well-known name and/or symbol established by one company and sold for use by another company

13 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 13 nonrecognition rejection recognition preference insistence The five stages of brand recognition are

14 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 14 What are the components of the product mix?

15 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 15 Lesson 7.2 Recruiting Athletes and Entertainers Goals Define the bottom line for sports. Explain the high cost of sports and entertainment events.

16 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 16 Terms blue-chip athletes NCAA fringe benefits

17 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 17 THE BOTTOM LINE FOR SPORTS blue-chip athletes excellent athletes demonstrate good character and leadership qualities on and off the field

18 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 18 The bottom line for business is profit. Winning teams generate profit. The bottom line for sports is winning.

19 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 19 NCAA Regulations NCAA a voluntary organization through which the nation’s colleges and universities govern their athletics programs

20 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 20 Compensation for Athletes? Athletes receive scholarships and grants for their college education. After signing with an agent, a college athlete can no longer participate in college sports. In some states, proposals have been brought to the legislature to pay college athletes.

21 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 21 What is the bottom line for sports and how is it related to the bottom line for business?

22 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 22 THE COST OF SUCCESS Success requires skilled coaches top-notch players popular entertainers

23 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 23 Attracting and Keeping Coaches The best coaches can command annual salaries in excess of $2 million. fringe benefits incentives received in addition to base salary

24 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 24 Attracting and Keeping Star Athletes Competition for top athletes is fierce. Recruiters compete with professional teams as well as with other colleges. Recruiters need a well refined sales and marketing effort to attract talent to their schools.

25 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 25 The Price for Top Musicians and Other Entertainers Popular performers can attract large enough crowds to make an event profitable. Popular celebrities help increase the advertising revenue of their television shows.

26 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 26 Marketing Women’s Sports In recent years, women’s sports have grown in popularity. Relative to male counterparts, women receive far less pay. Creative marketers may develop new products to appeal to females who are relatively new sports fans.

27 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 27 Why is it important for young, talented, and highly sought-after athletes to hire trustworthy agents to represent them?

28 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 28 Lesson 7.3 Customized Entertainment Goals Define customizing. Describe the financial impact of Baby Boomers on the entertainment industry.

29 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 29 Terms customizing impromptu tiering

30 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 30 CUSTOMIZING PRODUCTS customizing changing a product to fit the needs or wants of a particular market

31 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 31 spontaneous and changing impromptu

32 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 32 Local TV American Style Although local programming is less expensive to produce, it has fallen out of favor with major networks.

33 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 33 Because hosts of locally produced TV shows had such a large impact on children, parents requested that hosts not endorse products. Advertisers lost interest in sponsoring locally produced children’s shows. Children’s Programming

34 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 34 Excessive salaries of sports figures have helped drive up the costs of television coverage of sporting events. tiering specific sports programs will be offered outside the basic cable or satellite package Sports Programming

35 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 35 Public TV and Radio Public TV and Radio are viewer- and listener-supported. programming is tailored to local audiences

36 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 36 Why is different TV programming shown in different cities or regions of the United States?

37 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 37 MARKETING TO BABY BOOMERS Baby Boomers, born between 1946 and 1964, are one of the best-known market segments.

38 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 38 Boomers Won’t Retire Baby Boomers have the discretionary income to pay for the products and services they desire.

39 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 39 Segmenting the Group The U.S. population is aging. Marketers will need to focus their efforts on this aging market.

40 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 40 Entertaining the Boomers Baby Boomers are increasing their movie attendance.

41 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 41 Understanding All Parts of the Group Through 2002, Baby Boomers will continue to be a major target of entertainment marketing. As the Boomer group is so large, marketing messages need to be developed for specific subgroups of Boomers.

42 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 42 Why are Baby Boomers important to entertainment marketers?

43 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 43 Lesson 7.4 Product Marketing Strategies Goals List and describe the stages of the product life cycle. Explain how products are positioned in the marketplace.

44 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 44 Terms product life cycle skimming price strategy penetration price strategy positioning

45 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 45 THE PRODUCT LIFE CYCLE product life cycle introduction, growth, maturity, and decline

46 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 46 Introduction Stage introduction stage product is a novelty only one brand of product is available skimming price strategy introduces new products at a very high price penetration price strategy uses low pricing to help capture a large market share early

47 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 47 Growth Stage second part of product life cycle target market purchases the product regularly advertising focuses on customer satisfaction competition increases

48 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 48 The Maturity Stage third stage of product life cycle sales are level or slowing down marketing costs increase sales prices often offered to hold off competition

49 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 49 The Decline Stage sales decrease alternatives include drop a product sell/license

50 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 50 regionalize modernize/alter recommit discount

51 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 51 What are the stages of the product life cycle?

52 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 52 POSITIONING A PRODUCT positioning used by a company to differentiate its products or services from its competitors’ products or services status, price, or brand recognition

53 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 53 Pick a one product in the introductory stage, growth stage, maturity stage, and decline stage. Then pick entertainer/athlete to promote the product. Come up with sales promotion for each product/promoter Put into a power point to present to class.

54 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 54 PERFORMANCE INDICATORS EVALUATED Communicate the goals of the state fair. Prepare an attractive document that incorporates the latest desktop publishing technology. Create an original, appealing newsletter to increase awareness and attendance at the state fair.

55 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 55 Select graphics and fonts that appeal to the intended audience. Produce a final product that indicates a clear thought process and an intended, planned direction with formulation and execution of a firm idea. Understand the comprehensive nature of this project and its purpose.

56 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 56 THINK CRITICALLY 1.Why does the state fair need multiple forms of publicity to increase attendance? 2.What promotional item could be included in your desktop publishing document to help increase the attendance at the state fair?

57 Sports and Entertainment Marketing © Thomson/South-Western Chapter 7 Slide 57 4.What types of graphics would be appropriate for this publication? Why? 3.How can the state fair measure the effectiveness of your publication?


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