Transcript The Marketing Mix p1

The Marketing Mix
Product
Primary Learning Objectives
• Discuss what separates Sport &
Entertainment Marketing from
Traditional Product Marketing
• Differentiate Sport from Entertainment
Marketing
What Makes Sports and
Entertainment Marketing like
Product Marketing?
1. The marketing of the sport or event
itself.
A.
Getting fans to buy tickets
What Makes Sports and
Entertainment Marketing
Different Product Marketing?
• Promoting products through sports
Marketing the Event
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Ticket Sales & Prices
The Venue/Stadium
Parking/Transportation
Seating
Concessions
The Game/Event/Entertainment itself
Marketing the Event
When putting on an event you are
marketing more than the sport or the
concert itself,
you are marketing the experience of
being there.
What’s the difference between sport
and Entertainment Marketing?
• Consumer Loyalty
• Product
• Revenue Stream
Differences in Consumer Loyalty
Consumer Loyalty:
When consumers are happy
with a company’s product
and become repeat
customers.
Therefore
Differences in Consumer Loyalty
Job of the Sports Marketer:
Find a winning Team. Know what
consumers want. Try to Deliver that
product.
Differences in Consumer Loyalty
Job of the Entertainment Marketer:
Find a winning Formula. Try to know what
consumers want. Create that product.
Differences in Product
• Consistency/Stability of sports products
• Variability/Changeability of the
entertainment product
Difference in Revenue Stream
• Entertainment products have a greater
potential to generate revenue from
ancillary (related) products.
– Products that make use of the original
creative idea or characters make a profit
for the owner through sales, royalties, and
licensing fees.
Difference in Revenue Stream
Entertainment
Theater Sales
Books
Movie Rentals
TV Series
Promotional tie-ins
Merchandise
Difference in Revenue Stream
Sponsorships:
– The promotion of a company in
association with a property (team, league)
Nascar Sponsorships
Difference in Revenue Stream
Endorsement:
– The approval, use or support of a product
or idea, usually by a celebrity lending his
or her name or image to a product.
Difference in Revenue Stream
Sports
Tickets
Broadcast Rights
Sponsors
Merchandise