Transcript SEM II 1.03
Objective 1.03 Illustrate the use of the marketing mix in sports and entertainment marketing. Marketing The process of developing, promoting, pricing, and distributing products in order to satisfy customers’ needs and wants. Marketing Functions Product/service management Pricing Marketing Information Management (MIM) Selling Promotion Distribution Marketing Mix A combination of decisions a business makes in order to best reach its target market. Known as the four Ps (product, price, place, promotion). Marketing Mix (4 Ps) Product - Businesses must decide which products to offer customers. Price - The amount a business charges customers for a product. Place - Having the product available at the right time and location. Also known as distribution. Promotion - Informing and reminding customers of the products available to them and persuading them to purchase. Promotion includes advertising, personal selling, sales promotion, and publicity. Products Include both goods and services Goods Goods are tangible objects that are useful to consumers. Examples: tennis rackets, soccer balls, uniforms. Services Services are intangible and include tasks or acts performed for a customer for a price or fee. Examples: Going to a Broadway play or to a NASCAR race. Sports Marketing The involvement of sports to develop, promote and distribute goods and/or services to satisfy the wants and needs of consumers. Includes sponsorship, endorsements, promotion, and fan clubs. Professional Teams Basketball: Charlotte Bobcats Football: Carolina Panthers Hockey: Carolina Hurricanes Collegiate and Scholastic Teams UNC – University of North Carolina Duke University University of Okalahoma Ohio State University Venues: Arenas, Stadiums, Coliseums, Speedways Time Warner Cable Arena Lowe’s Motor Speedway Bojangles Arena Staples Center Commercial Facilities Marina Boat Land Health Clubs Gold’s Gym YMCA Planet Fitness Ladies Fitness and Wellness Recreation Aerobics Soccer Basketball Swimming Area parks Camps Tennis Camp Basketball Camp Soccer Camp Camp Thunderbird Professional Individual Sports PGA World Tennis Association PBA Professional Individual Sports Running Swimming Golf Bowling Amateur Sports AAU-Amateur Athletic Union Agencies MLB-Major League Baseball NBA-National Basketball Association NFL-National Football League NCAA-National College Athletic Association SEC ACC Sport Support Services NASCAR Winston Cup Racing Wives Auxiliary Sporting Goods Industry Nike Adidas Under Amour Sport Sponsors NASCAR Sprint Cup Series Cadillac sponsoring the PGA Tour Wachovia Cup Tournament at Quail Hollow Country Club Sports Media ESPN Fox Sports Net Sports Illustrated Entertainment Marketing Involves the use of entertainment to develop, promote and distribute goods and/or services to satisfy the wants and needs of customers. Music Industry Capitol Records Bad Boy Entertainment Roc-a-fella Records J Records Movie Industry Warner Brothers Disney Actors Theme Parks Walt Disney World Carowinds Cedar Point Radio Industry FM AM Country Rap Hip-hop Jazz Sirius satellite radio Film Industry Sundance Film Festival Television Industry NBC ABC CBS Cable TV Dramatic Arts Industry Children’s Theatre Broadway Belk Theatre Video Game Industry X-Box 360 Nintendo Wii Sony Playstation 3 Fine Arts and Science Industry Smithsonian Museum Mint Museum Night Club Industry Club Ice 40/40 Club Rain Literacy Industry Library Internet Books Casinos Industry Las Vegas Reno Atlantic City Harrah’s Cherokee Casino Hobbies/Craft Industry Southern Christmas Show Trends in Sports & Entertainment Sports: Naming Rights X-Games Sport Specific Channels Entertainment Internet Web Casts MP3’s DVD’s