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

Lesson 1.1 Marketing Basics Goals Describe the basic concepts of marketing. Explain the marketing mix. Define the six core standards of marketing. Chapter 1

Terms marketing marketing mix product distribution price promotion discretionary income Chapter 1

WHAT IS MARKETING? marketing the creation and maintenance of satisfying exchange relationships Chapter 1

Satisfying Customer Needs CHAPTER 19 4/27/2017 Satisfying Customer Needs identify your customer and the needs of your customer develop superior products operate your business profitably In order to identify your customer  you would identify you target market (specifically who you are trying to see too Chapter 1

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Different Generations = Different marketing strategies CHAPTER 19 4/27/2017 Different Generations = Different marketing strategies Chapter 1

Companies have created social media campaigns that encourage consumers to take video of them wearing, eating, using their products or services to entice the newest and younger generation of adult consumers to buy their products. Chapter 1

CHAPTER 19 4/27/2017 Jeep ran this ad in the AARP's magazine to target older buyers. Chapter 1

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

What is marketing? Chapter 1

THE MARKETING MIX marketing mix how a business blends the following four elements product distribution price promotion Chapter 1

The Marketing Mix product distribution what a business offers to satisfy needs & wants goods and services distribution the locations and methods used to make products available to customers Chapter 1

The Marketing Mix price promotion amount customers pay for products ways to make customers aware of products encourages customers to buy Chapter 1

Marketing Mix Considerations discretionary 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

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

A Marketing Mix Example in the Entertainment Industry State fairs need to appeal to rural and urban residents set reasonable ticket prices advertise about the fair determine fair location plan ticket sales Chapter 1

What are the elements of the marketing mix? Chapter 1

CORE STANDARDS OF MARKETING Chapter 1

CORE STANDARDS OF MARKETING Distribution Distribution involves determining the best way to get a company’s products and services to customers. Chapter 1

CORE STANDARDS OF MARKETING Marketing-Information Management gathering and using information about customers to improve business decision making Chapter 1

Pricing the process of establishing and communicating to customers the value or costs of goods and services Chapter 1

CORE STANDARDS OF MARKETING Product/Service Management designing, developing, maintaining, improving and acquiring products or services to meet customer needs Chapter 1

CORE STANDARDS OF MARKETING Promotion using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome Chapter 1

CORE STANDARDS OF MARKETING Selling any direct and personal communication with customers to assess and satisfy their needs Chapter 1

Financing A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services. Chapter 1

List and provide an example of each core standard of marketing. Chapter 1

Lesson 1.2 Sports Marketing Goals Define sports marketing. Explain the value of sports marketing to the economy. Chapter 1

Terms demographics sports marketing gross impression Chapter 1

WHY SPORTS MARKETING? demographics sports marketing common characteristics of a group age, marital status, income, education sports marketing using sports to market products Chapter 1

New Sports, New Opportunities continual innovation provides new opportunities extreme sports arena football Chapter 1

Gross Impression gross impression the number of times per advertisement, game, or show that a product or service is associated with an athlete, team or entertainer Chapter 1

Timing Fans want products and services that identify them with winning teams and athletes. Marketing efforts may need to be tweaked based on changes in winning trends. Chapter 1

Why are gross impression and timing important in sports marketing? Chapter 1

THE VALUE OF SPORTS MARKETING Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. Chapter 1

Emotional Value Emotional connections to teams motivate fans to buy tickets to games. Chapter 1

So Many Channels High profile sporting events generate strong promotional revenues for broadcasters. Chapter 1

Why is timing important to a marketer? Chapter 1

Lesson 1.3 Entertainment Marketing Goals Define entertainment. Describe the impacts of advances in entertainment technology on entertainment marketing. Chapter 1

Terms entertainment marketing entertainment ratings Chapter 1

ENTERTAINMENT FOR SALE entertainment marketing influencing how people choose to spend their time and money on entertainment Entertainment is the product to be marketed (music, TV shows, Movies, Theater, etc.) Entertainment is used to market other products Chapter 1

Entertainment Marketing Entertainment is the product to be marketed (music, TV shows, Movies, Theater, etc.) Entertainment is used to market other products (Author appearing on TV show to discuss new book) Chapter 1

What Exactly is Entertainment? whatever people are willing to spend their money and spare time viewing rather than participating in Chapter 1

What are the two ways of looking at entertainment marketing? Chapter 1

EVOLUTION OF ENTERTAINMENT AND ENTERTAINMENT MARKETING At the beginning of the twentieth century, audiences needed to travel to the entertainment source. Audience feedback was instantaneous and live. Technology distanced entertainers from their audiences. Chapter 1

The Beginning of Change Disneyland represented a new approach to the marketing mix of entertainment. Chapter 1

The Big Eye in Every Room The Early Days of Television and Marketing TV changed the marketing of entertainment in a profound way. Television’s Increasing Influence ratings the number of viewers the programming attracted Chapter 1

Change Accelerated Technology improvements, including the internet, have facilitated distribution of sports and entertainment to the masses. Chapter 1

Technology and Customer Feedback Audiences can use a variety of communication technologies to provide entertainment feedback. Ex: Social media, text, calls, e-mail, etc. Reality shows – viewer participation in results Chapter 1

Name a few benefits of television to marketers and advertisers. Chapter 1

PERFORMANCE INDICATORS EVALUATED Communicate an appropriate advertising campaign through writing and speaking. Analyze relevant data to make recommendations for an appropriate plan of action. Demonstrate critical thinking and problem-solving skills when creating the advertising campaign. Chapter 1

Demonstrate teamwork to complete a group project. Demonstrate advertising budgeting skills. Chapter 1

THINK CRITICALLY Why is an advertising campaign necessary to overcome the city’s previous reputation? Give several examples of activities other than sporting events to attract customers downtown. What is the advantage of having new condominiums in the downtown area? Does the light rail system present an advantage for your advertising campaign? Explain your answer. Chapter 1