Transcript Introduction to Sports Marketing Notes

What Is Marketing?
Economics of Marketing
Win the heart,
and the mind will follow!
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The Importance of Sports and
Entertainment Marketing
The sports and entertainment industries have
become two of the most profitable industries in the
United States.
Fans spend billions of dollars each year on
recreation and related products and services.
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Marketing Defined
Successful
organizations follow
a marketing
concept.
The first step in
creating a
marketing concept
involves identifying
the customers.
marketing concept: the
idea that organizations
need to satisfy their
customers while also
trying to reach their
organizational goals.
Market: consists of
potential customers
with shared needs
who have the desire
and ability to buy a
product.
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Marketing Defined
Because of competition, an
organized marketing plan
is essential.
Goods are tangible items,
such as sports equipment.
Services are intangible
products, such as theater
tickets.
Marketing: process of
developing, promoting
and distributing
products, or goods and
services, to satisfy
customers’ needs and
wants.
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Competition
Struggle between companies for customers that is both
healthy and vital to out free enterprise system.
Price Competition
Focuses on the sale price of a product.
Non-price Competition
Businesses choose to compete on the basis of
factors that are not related to price.
Competition, cont.
Direct Competition
Product or brand which competes in
the same product category.
Indirect Competition
A product that is in a different
category altogether but which is
seen as an alternative purchase
choice.
Marketing Process
Developing products involves
studying consumers to determine
what they want, and then
designing products that will satisfy
their needs and wants.
Distribution: the
means of getting the
product into the hands
of the customer.
Promotional activities help to
educate consumers, create
interest and desire, make a sale,
and create an image for a
company.
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The Marketing Mix
Marketing mix strategies
involve product, price,
place, and promotion
decisions.
channel of distribution:
path a product takes
from the producer to
the consumer.
Place decisions include
determining a channel of
distribution.
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Channels of Distribution
Direct Channel
Manufacturer
Consumer
Indirect Channel
Manufacturer
Wholesaler
Retailer
Consumer
Web Site
Multiple
Channels
Wholesaler
Consumer
Manufacturer
Retailer
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Economic Basics
What is Gross Impression?
The economics of
marketing sports and
entertainment have a great
impact globally as well as
locally.
economics the study
of the choices and
decisions that affect
making, distributing, and
using goods and services
A measure of economic
growth is the gross
domestic product (GDP).
GDP (gross domestic
product) the value of all
goods and services
produced within a country
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Property Ownership and
Intellectual Property Rights
Inherent in the free
enterprise system is the right
to own property and start a
business.
copyright legal
protection of a creator’s
intellectual property or
products
Intellectual property rights
are protected by the
following:
Copyrights (legal protection, royalties, Library of Congress)
Patents (products, inventors permission, 20 years)
Trademarks (words, names symbols, sounds, colors USPTO)
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