Transcript Sports and Entertainment Marketing

Sports and Entertainment
Marketing
Marketing Basics
• Roughly half of every dollar you spend on
a product goes to cover marketing costs.
• Quick Review:
– Marketing: Planning and executing the
conception, pricing, promotion, and
distribution of ideas, goods, and services to
create exchanges that satisfy individual and
organizational objectives
– Customer: Person who buys the
product(s)/service
– Consumer: Person who uses the
product(s)/service
What is Marketing?
Business
• Simplified: The creation and
maintenance of satisfying exchange
relationships.
– Creation: Product development
– Maintenance: Lasts as long as the business
operates
– Satisfaction: All needs must be met, both
customer and businesses
– Exchange Relationship: The giving and
receiving of something of value for both
parties
Customer
Sports Team
PRODUCT
PRICE
Marketing Mix
PLACE
PROMOTION
PRODUCT
• What a business is offering customers to
satisfy their particular wants and needs
• Examples:
– Athletic shoes
– Clothing/Apparel
– Videos/DVDs
PLACE
• Locations and methods used to make
products available to customers
• Examples:
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Stores/Retailers
Train
Plane/Ship
Auto
Wholesaler
Retailer
PRICE
• The amount the customer will pay for the
given product/service
How much
for a front
row seat?
PROMOTION
• Ways in which customers are encouraged
to purchase products and increase
satisfaction
• Examples:
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Advertising
Publicity
Public Relations
Personal Selling
SPORTS MARKETING
• Using sports to market select products
• Fans/Spectators at sporting events are
potential consumers of a wide variety of
products.
• http://www.youtube.com/watch?v=Fx6i7
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Two Types of Sports
Marketing
• Marketing of
Sports and
Entertainment
• Marketing
through sports
and
entertainment
TARGET MARKET
• Target Market is the specific group of
people you want to reach with your
product or service.
• In order to successfully sell
products/services, companies must know
the wants and needs of the target market
DEMOGRAPHICS
• Specific information to include age,
gender, income and race.
• Essential in determining the buying
habits of customers
• The most important aspect is Income –
Disposable income ( income that can be
freely spent)
• Spending habits – will determine what
products and services to produce and
what prices to charge
Sports Marketing Strategies
• Sports logos on clothing
• Creation of new sports
• Gross Impression
• Perfect Timing
Sports logos on clothing
• People wear this type of clothing because
it shows fan loyalty
• Value of merchandise is increased in the
eyes of the buyer
• Some consumers feel more successful
themselves
• Colleges and pro teams have earned large
sums of money from such endorsements
New Sports
New Opportunities
• New sports markets offer new
opportunities for endorsement and
marketing
• WNBA, WUSA, Arena Football
Gross Impression
• Number of times per advertisement,
game, or show that a product or service is
associated with an athlete, team, or
entertainer
• Often they are subtle and continuous
• You will see them in all fashions, cars,
shoes, clothes, billboards, etc.
Timing
• Fans want products/services that identify
them with a winner
• Successful trends for athletes and teams
must be monitored to determine when to
change/adjust the marketing strategies.