Sports Marketing Careers The Marketing Plan Sports Marketing Careers 2

Chapter Objectives Explain the purpose and function of a marketing plan. Identify each element found in a marketing plan. Discuss the diversity of career and employment opportunities in sports marketing. Identify different career and employment opportunities in sports marketing. 3

Why Write a Marketing Plan? A marketing plan communicates the goals, objectives, and strategies of a company to its employees. marketing plan a written document that provides direction for the marketing activities for a specific period of time Some marketing plans are prepared to obtain financing from outside investors for a new venture. 4

Elements of a Marketing Plan The six basic elements, or sections, found in marketing plans are: executive summary an overview of the entire marketing plan situation analysis a study of the internal and external factors that impact a marketing plan Executive summary Situation analysis SWOT analysis SWOT analysis a study of strengths, weaknesses, opportunities, and threats Marketing goals/objectives continued 5

Elements of a Marketing Plan Marketing strategies Target markets The marketing mix marketing strategy a method that identifies target markets to make marketing-mix decisions that focus on those target markets Implementation implementation putting the marketing plan into action Evaluation and control 6

S W O T SWOT Analysis Strengths Weaknesses Opportunities Threats Qualities that give a business a competitive advantage W Weaknesses Qualities that give a business a competitive disadvantage O Opportunities Features or events that could benefit the business T Threats Features or events that could damage the business 7

Understanding the Marketing Plan A good marketing plan should be as detailed as possible about the goals and resources of the company and its employees. 8

Why should a business write a marketing plan? 1. Why should a business write a marketing plan? What is a SWOT analysis? List the key elements of a marketing plan. 2. Quick Check Answers Answers include: to provide direction for marketing activities; communicate goals, objectives, and strategies; inform employees about their responsibilities; and help the company monitor its performance. It is a situation analysis addressing Strengths, Weaknesses, Opportunities, and Threats. executive summary, situation analysis, marketing goals/objectives, marketing strategies, implementation, and evaluation and control 3. 9

Overview of Sports Careers Career areas in the sports industry include: Sporting goods companies Professional sports teams and leagues College sports teams and leagues Amateur sports teams and leagues Sports associations and organizations Broadcast, online, and print media Sports venues Sports agencies Fitness and recreation Special sports events 10

Overview of Sports Careers Sports venues hire people to manage the coordination of large events. sports venues facilities or locations where sporting events take place Sports agencies represent professional athletes in all fields of sports. sports agencies companies that specialize in marketing and managing sports events, sports teams, and professional athletes 11

Overview of Sports Careers Other sports-marketing careers that are growing in popularity are found in the health and fitness and recreation industries. 12

Future Careers Skills from almost every profession will benefit you if you decide to pursue a career in sports marketing. 13

Online Dream Teams Fantasy sports league participants choose real-life players’ names to create their own imaginary teams. The changing real-life statistics of those players determine the ranking of the fantasy teams. Operating an e-tail business on an electronic channel—the Web—can be costly, due to design, delivery, returns, and operating expenses. Though Many larger dot-com companies crashed in the 1990’s, small stores like Harris Cyclery of West Newton, Massachusetts, actually increase sales using a basic Web site. Today, a third of Harris’s bicycle business rides in on the Web to get hard-to-find parts and personal service. Describe an e-business’s home page to your class after viewing one through marketingseries.glencoe.com. With the Internet, statistics are quickly updated, and members can instantly make trades, change salaries, and discuss players and teams online. With over 12 million fantasy participants and the focus on individual players, online fantasy leagues provide new opportunities for sports marketers to explore. For more information on sports and entertainment marketing, go to marketingseries.glencoe.com. 14

Is it necessary to be an athlete to work in the sports industry? Why? 1. Is it necessary to be an athlete to work in the sports industry? Why? Name different types of businesses or organizations that are part of the sports industry. What are some responsibilities a sports agent might have? 2. Quick Check Answers No. Like any other business, sports needs a diversified workforce including salespeople, administrators, marketing personnel, and others. Many answers are possible including sports equipment, health spas, and venues such as stadiums or parks. Sports agents handle contract negotiations including endorsements, licensing, promotions, speaking engagements, and personal appearances, as well as employment contracts with teams. 3. 15

Checking Concepts 1. 2. Identify the elements of a marketing plan. Explain the purpose and function of a marketing plan. 1. Guidelines for a marketing plan are that it must be simple, single-minded, specific, reasonable, measurable, and must contain a time frame. 4. A SWOT analysis studies two internal and two external factors that impact a market plan: Internal = strengths and weaknesses; external = opportunities and threats. 3. The elements are: executive summary, situation analysis, marketing goals/objectives, marketing strategies, implementation, and evaluation and control. 2. A marketing plan provides direction for marketing activities; communicates goals, objectives, and strategies to employees; informs employees about their responsibilities; and helps a company monitor its performance. 1. 2. Identify the elements of a marketing plan. Explain how to conduct a SWOT analysis. 3. Checking Concepts Answers A marketing plan provides direction for marketing activities; communicates goals, objectives, and strategies to employees; informs employees about their responsibilities; and helps a company monitor its performance. The elements are: executive summary, situation analysis, marketing goals/objectives, marketing strategies, implementation, and evaluation and control. A SWOT analysis studies two internal and two external factors that impact a market plan:  Internal = strengths and weaknesses; external = opportunities and threats. Guidelines for a marketing plan are that it must be simple, single-minded, specific, reasonable, measurable, and must contain a time frame. Identify the guidelines for a marketing plan. 4. continued 16

Checking Concepts 5. Name appropriate marketing strategies for a marketing plan. Sports marketing requires diverse skills including: communication, organization, sales, creativity, administrative, financial, and interpersonal skills. 6. Employment opportunities are found in professional and collegiate sports, sports associations and organizations, broadcast, online, and print media, sports venues, sports agencies, and in many other career areas. 7. Marketing strategies must be directed to a target market and respond to the four P’s of the marketing mix: Product, Price, Promotion, and Place.  5. 6. Discuss the diversity of career skills used in the sports marketing industry. Checking Concepts Answers Marketing strategies must be directed to a target market and respond to the Four P’s of the marketing mix: Product, Price, Promotion, and Place.  Sports marketing requires diverse skills including: communication, organization, sales, creativity, administrative, financial, and interpersonal skills. Employment opportunities are found in professional and collegiate sports, sports associations and organizations, broadcast, online, and print media, sports venues, sports agencies, and in many other career areas. List five different employment opportunities in the sports marketing industry. 7. continued 17

Checking Concepts Critical Thinking 8. Opportunities are external factors which, if handled properly, can bring rewards to a company, whereas threats are external factors which can negatively affect a company. However, by taking initiative to address the threats, companies can turn them into opportunities. 8. 8. Explain the relationship between threats and opportunities. Checking Concepts Answers Opportunities are external factors which, if handled properly, can bring rewards to a company whereas threats are external factors which can negatively affect a company.  However, by taking initiative to address the threats, companies can turn them into opportunities. 18

Customizable Slide 19

End of