Transcript What are the long-term benefits for a host city that may occur five to

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Marketing
Marketing concept
Market
Needs and Wants
Target Market
Demographics
Marketing Mix
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Channel of
Distribution
Economics
GDP
Profit
Competition
◦ Price
◦ Non-price
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Intellectual Property
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What are some potential profits for a city that
hosts the Olympic Games?
What might be some disadvantages for a city
hosting the Olympic Games?
What are the long-term benefits for a host
city that may occur five to ten years after the
Games are over?
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Students will interpret marketing concepts as
they apply to sports and entertainment
marketing.
a) Define marketing, sports marketing, and
entertainment marketing.
b) Explain the marketing functions as they
relate to each area of sports and entertainment
marketing.
c) Describe the “four p’s” of sports and
entertainment marketing.
d) Define marketing segmentation and its
components.
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Sports and Entertainment Industries are two
of the most profitable industries in the USA.
Sports and Entertainment reach around the
globe because entertainment is a main export
of the USA.
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Marketing—the process of developing,
promoting, and distributing product (goods
or services) to satisfy customers’ needs and
wants.
◦ Goods—tangible—sports equipment
◦ Services—intangible—theatre tickets
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Marketing Process:
◦ Developing products
◦ Promotional activities
◦ Distribution
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Marketing concept—the idea that
organizations need to satisfy their customers
while also trying to reach their organization’s
goals.
To be profitable businesses MUST focus their
efforts on customers’ needs and wants.
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The first step in creating a marketing concept
involves identifying customers.
Market—potential customers with shared
needs who have the desire and ability to buy
a product.
Needs and Wants
Target Market—specific group of consumers
that an organization selects as the focus of
its marketing plan
LeBron X Nike Plus due Fall 2012
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Marketing mix—a combination of four basic
marketing strategies, known as the 4Ps—
product, price, place, and promotion
Product decisions involve the goods, services,
or ideas used to satisfy consumer needs.
Price decisions involve the exchange process
between seller and buyer.
Place decisions involve making the product
available to the customer.
Promotion decisions involve how the goods
or services are communicated to the
consumer.
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Economics—the study of the choices and
decisions that affect making, distributing,
and using goods and services.
Gross Domestic Product (GDP)—the value of
all goods and services produced within the
country.
Free Enterprise characteristics
◦ Profit
◦ Risk
◦ Competition
 Price
 Non-price
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Property may be tangible-buildings, theatres,
stadiums, equipment.
Intangible such as services.
Copyrights—legal protection of creator’s
intellectual property (books, films, video
games, music). Lifetime + 70 years.
Patents—20 years
Trademarks—words, names, symbols,
sounds, colors that distinguish goods and
services
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Sole Proprietorship—business involves only
one owner
Partnership—two or more owners of the
business
Corporation—has ability to conduct business
apart from its owner or owners
Subchapter S corporation—operates as a
corporation but pays taxes like a partnership
Concessions
Local
Merchants
Media
Hotels/
Security
Services
Lodging
EVENT
Other
Recreation
Ticket Sales
Airlines/
Product
Sponsors
Transportation
Employees
of Venue
Restaurants