Presentation on theme: "C HAPTER 9 Marketing Entertainment SWBAT: Explain customizing entertainment products for a market segment Describe customized entertainment marketing."— Presentation transcript:
SWBAT: Explain customizing entertainment products for a market segment Describe customized entertainment marketing for Baby Boomers Essential question: Why would companies want to customize entertainment for customers?
9.1 - C USTOMIZED E NTERTAINMENT Market Segment - a group of people who have the ability and the desire to purchase a specific product Develop the marketing mix Step 1: Collect marketing information about the largest market segment for that product Step 2: Customize products or services to the tastes of the target audiences Customizing - changing a product to fit the needs or wants of a particular market.
C USTOMIZING E XAMPLES Customizing examples: McDonalds has a regular happy meal and has a more healthy one with fruit for health conscious parents Pampers diapers- not only are they sized to fit babies they have adults sizes too! “Yah! I’ll be home in a bit, oh my way home from doin’ laundry!”
P ARTNER A CTIVITY QUICK! Get with a partner 1 piece of paper Come up with three products or services that are customized to fit the customer’s wants/needs Describe how/why it is customized You have 7 minutes
C USTOMIZING P RODUCTS Impromptu – spontaneous and changing entertainment based on audience reaction. Who thinks they can give an impromptu speech right now??????? For a Hakim buck?????
L OCAL TV A MERICAN S TYLE National network TV shows are mainly filmed and produced in Los Angeles. Alot of $$$$ to make and require a large viewing audience to pay the costs Local programming – fraction of the cost to make but does not attract viewers nationally. Ex – Wayne’s WorldWayne’s World What are our local programming channels?
S PORTS P ROGRAMMING. PG 232 Sports programs used to be broadcasted on a regional level Now, as you know, sports can be viewed via cable, satellite or pay-per-view Rising costs of cable have attracted the attention of the Federal Communication Commission which has proposed “tiering” prices for sports programming. Tiering - certain sports programs outside the basic cable package would incur extra costs for the viewers who choose them.
M ARKETING TO B ABY B OOMERS – PG 233 Baby Boomers – the generation born between 1946 – 1964. 76 million “baby boomers” reached their peak spending level at age 46. Surge in Boomer spending began in 1993 and ended in 2008 Great market to target for entertainment
S EGMENTING THE GROUP The Baby Boomers have a large range in ages – some can be 18 years apart in age and still be considered a Baby Boomer! Difficult to market to such a varied audience According to the US Census Bureau, the average age of the US population: In 1994 – 34 In 2000 – 35.5 In 2035 – 39.1
E NTERTAINING THE B OOMERS The Boomers are seeing more and more films Large increases in movie theater audiences are attributed to growing attendance by Baby Boomers. Movies like Seabiscuit are made with Boomers in mind movie about over coming odds Middle aged man
C HAPTER 9.2 – E NTERTAINMENT T ECHNOLOGY AND M ARKETING Objectives: Explain the economic utility of entertainment Discuss the impact of technology on entertainment Describe the need for balance between privacy and marketing information Essential Question – What is economic utility?
E NTERTAINMENT E CONOMICS People have limited time and money to spend on entertainment (along with everything else) We must make decisions on how we will spend our limited resources Often, we base our decisions on the amount of satisfaction we will receive from purchasing the product or service… Economic utility - the amount of satisfaction a person receives from the consumption of a particular product or service. Ex -
E NTERTAINMENT E CONOMICS ( CONT ’ D ) Sports and entertainment businesses are constantly seeking ways to increase economic utility of their products. The utility improvements can take place in four categories: Form Time Place Possession
T YPES OF U TILITY Form Utility - when the physical characteristics of a product or service are improved Ex – offering a movie in BlueRay over DVD format Time Utility - the result of making the movie available when the viewer wants it Ex – Offering the movie pay-per-view from your cable provider Place Utility – ensures that the movie is available where the viewer wants it. Ex – more RedBox locations or more video rental store locations
T YPES OF U TILITY ( CONT ’ D ) Possession Utility – making the movie available at an affordable price To take possession of the movie, the customer must be able to finance it through convenient methods of payment. Ex – Renting a movie or being able to buy a movie using your credit card
P ARTNER A CTIVITY QUICK! One partner, not the one you were with last time! 1. Pick any one product or service 2. Give specific examples of how using the four types of utility (form, time, place and possession) can make it better to suit the customer Ex- Product = Movie Form – BlueRay instead of DVD Time – Pay-per-view Place – More RedBox locations Possession – pricing the movie at $12.99 so people can afford it
U TILITIES ON B ROADWAY Broadway shows are expensive and many people can’t afford to go to the shows Fortunately, Broadway show producers know this so they take their show on the road By taking the productions to the audiences in major cities, which of the four utilities are improved for the people outside of NYC???? Time Place Possession
S PEED IS THE KEY. P AGE 238 The speed at which entertainment can be delivered to homes will determine much of it’s evolution Bandwidth- the capacity of communication channels. Often referred to as using hoses… VS Fire hose stunt
O NLINE GAMING ? Never even considered ‘til highspeed came around
H OW DO WE GET TO THE NET ? What are the most common ways we can connect to the internet? Dial-up (most common 15 years ago) Uses land-line phone service to connect; can’t make phone calls when connected DSL (digital subscriber line) – replaced dial-up Works with a land-line phone service but you can still make phone calls Broadband (most common now) Uses existing cable service coming into your house
M ORE ABOUT THE INTERNET The internet is an international network of computers. ISP- (Internet Service Provider) Fee-based companies make it possible for us to access the internet. At home, who is our ISP to hook-up to the net?
T ECHNOLOGY The Internet is a key component in changes to the entertainment marketplace As the number of online consumers continues So does electronic commerce promotion of entertainment-related businesses
C OOKIES, ANYONE ? Web site owners gather information about visitors Track where you went on the website Which pages you clicked on Which ads you viewed Clickstream data- collected at each mouse-click within a web site. Cookie - small data file placed on the hard drive of the web site visitor, collects the data = shady Did you know? Every time you “like” a business on FB, they have to pay $1 to FB