Transcript MarketingAnd4Ps

Marketing and the 4P’s
Sports and Entertainment Marketing
Sports & Entertainment
Industries
• Today, more than any other time in history,
are the two most profitable industries in the
U.S.
• Fans spend billions of dollars each year on
recreation
• Reaches around the globe as well
• Entertainment is a main export of the U.S.
What is Marketing?
If you know:
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Nike:
“Just Do It”
Wheaties:
“Breakfast of Champions”
Under Armour:
“Protect this house”
Lowes:
“Lets build something together”
Butterfinger:
“Nobody better lay a finger on my butterfinger”
Apple:
“There’s an app for that”
You have been exposed to marketing.
Marketing Defined:
The process of developing, promoting, and distributing products, or
goods/services, to satisfy customers’ needs and wants.
• To sum it up – Marketing is the creation and maintenance of
satisfying exchange relationships.
• Marketing is an “umbrella” term
• Current marketing practices focus on customers and maintaining
a close relationship with them
Marketing Mix pg 10
• Describes how a business “blends” the four
marketing elements.
• The 4 P’s
• Product
• Place (Distribution)
• Price
• Promotion
Marketing Mix
• Product—what a business offers customers to satisfy
needs
• (Place) Distribution—the locations and methods
used to make products available to customers
• Price—the amount that customers pay for products
• Promotion—ways to encourage customers to
purchase products and increase customer
satisfaction
Product
• Goods
• Tangible items - have monetary value and
satisfy your needs & wants (can touch them)
• Examples: sports equipment, TV, clothing,
candy.
• Services
• Intangible items - have monetary value and
satisfy your needs & wants (can’t touch them)
• Examples: tickets, banks, dry cleaners,
amusement parks.
Place (Distribution)
• Involves the locations and methods used to
make products available to customers.
• Channel of distribution- path a product takes
from the producer to the consumer
• New Holland Apparel
Place (cont’d)
• Where do you buy a pair of sneakers or a
theater ticket?
• Internet?
• Retail Store?
• Theater?
• Telephone Solicitation?
• Wholesaler?
• Retailer?
Price
• Amount that customers pay for
products/services.
• Approximately 50% of an item’s price
is for the marketing costs!
• Did you know? – On average, stores
raise the price around 50% more than
what they paid for it?
Promotion
Buy 2,
get 1
free!!
• ways to encourage customers to purchase
products/services.
• increase customer satisfaction.
• includes: advertising, publicity, personal selling,
and public relations
Our product
will make
you better at
everything!
What are some forms of
Promotion?
• Newspaper
• Magazine
• Radio
• Television
• Direct Mail
• Internet Advertising
Satisfying Customer Needs
• MOST important aspect of marketing!
• Must perform the following:
• Identify customer needs
• Develop products/services that
customers consider better than other
choices
• Operate business profitably
Sports products pg. 78
• Sports products- goods, services, ideas or a
combo of those related to sports that provide
satisfaction to a consumer
• Get into groups of three
• Imagine you are marketing a new sports
product – a fresh, new young athlete drafted
into the pros
• Plan a market strategy for selling this “product”
Trivia Time!
• What does ESPN stand for?
• Entertainment and Sports Network
Types of Sports Products
• Unlike typical consumer products, sports products include a
broader range of products.
• Unique to sports are products that can be classified as
goods or services, or both:
• Sporting events- this is where it all starts. Athletes and the
arenas get the ball rolling
• Sports information- Involves news, stats, schedules and
stories. Where do you find all this info?
Types of Sports Products
• Sports training- Service such as instruction that is
provided through fitness centers, sport camps, and
lessons
• Sporting goods- Wide range of goods, such as
licensed merchandise, collectibles, apparel and
accessories.
Product Line vs Product Mix
• Businesses classify their products by “product
line” and “product mix”
• Product line- a group of closely related products
manufactured and/or sold by a company
• What products are sold in the product line by
Adidas below:
Product Line vs Product Mix
• Product mix- the total assortment of products
that a company makes and/or sells
• What Adidas products does Dick’s Sporting
Goods sell?
• Boom. That’s product mix