Transcript Presentation Package

chapter
chapter
10
10
Marketing
Marketing and
and
Sales
Sales
Author name here for Edited books
Marketing Concepts
• Marketing examines the process of getting
potential customers to purchase a product
or service.
• Key principles to remember:
– Customers are an asset that become more valuable
over time.
– Quality can be a competitive strategy for your sport
business.
– All businesses are service businesses.
Four Ps of Marketing
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Product
Place
Price
Promotion
Some use 5th to 11th Ps:
– Publicity
– People
– Position
– Payback
– Policy
– Partnerships
– Professional connections
Product
• A product is what the business has to offer
to its prospective customers, users, clients,
or constituents. A product can be a good,
service, or idea.
• What is unique about the sport product that
helps sell it?
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Perishable
Unique
Passion
Friendships
Place
• Place refers to where the product or service
is sold or distributed.
• Place also refers to how the product
reaches customers, how quickly it reaches
them, and in what condition the product will
be in when it finally reaches the customers.
Price
• How much does it cost?
• How does the cost compare to cost of similar
products?
• Price refers to the amount of cash or items
given in exchange to conclude a transaction.
• Price is always on trial in every marketplace
since price can be considered too high or too
low at different times. If a ticket price is too
high, people might not purchase a ticket.
Furthermore, if a ticket is too cheap, then the
customers might perceive the ticket as lacking
value.
Promotion
• How is the product sold?
• Promotion refers to the process of
informing people about the product, price,
or place. Three primary vehicles are used to
promote a service or product:
– Advertising
– Publicity
– Personal selling
The Marketing Process
• Customer identification
• Research
• Selling experience
Research
• Market segmentation: Can or will they buy
the product?
• Demographics
• Psychographics
• Benefit segmentation
• Geodemographics
Selling Experience
• Steak: primary focus
• Sizzle: ancillary benefits such as between
innings or halftime events or giveaways
such as Beanie Babies, bobble heads, and
thunder sticks
Marketing New Facilities
• Attracting anchor tenants
• Attracting shows or events
• Developing strong relationships: This is a
small industry so your reputation is very
important
Sales
• Identify what you have to sell
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Tickets
Luxury seating or boxes
Concessions
Sponsorship
Naming rights
Pouring rights
• Establish a price: Supply and demand
Numerous Sponsorship Opportunities
Sold at a Ballpark
Summary
• The sport industry relies on marketing to
generate revenue. Whether through
publicity, advertising, or personal selling,
sport facilities need to position their
product to attract potential customers.
• Through conducting in-depth research and
identifying what customers want, a facility
can sell their steak and sizzle.
Discussion Questions and Activities
• What are the products offered at a stadium or
arena?
• How would you go about selling tickets to a
less popular event?
• Develop a sample survey to help determine
what your customers want.
• Develop a marketing plan to help generate at
least five sellouts for a local sport organization.
Be as specific as possible.