Transcript Chapter 1
Chapter 1 What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing 1.3 Entertainment Marketing Sports and Entertainment Marketing © Thomson/South-Western Winning Strategies From $50 to $4 Million A determined athlete A supportive family Chapter 1 Slide 2 Sports and Entertainment Marketing © Thomson/South-Western Lesson 1.1 Marketing Basics Goals Describe the basic concepts of marketing. Explain the marketing mix. Define the six core standards of marketing. Chapter 1 Slide 3 Sports and Entertainment Marketing © Thomson/South-Western Terms marketing marketing mix product distribution price promotion discretionary income Chapter 1 Slide 4 Sports and Entertainment Marketing © Thomson/South-Western WHAT IS MARKETING? marketing the creation and maintenance of satisfying exchange relationships Chapter 1 Slide 5 Sports and Entertainment Marketing © Thomson/South-Western Satisfying Customer Needs identify your customer and the needs of your customer develop superior products operate your business profitably Chapter 1 Slide 6 Sports and Entertainment Marketing © Thomson/South-Western Sports and Entertainment Marketing Marketers of sports and entertainment marketing must assess consumer demand the competition the financial valuation of the goods and services they offer Chapter 1 Slide 7 Sports and Entertainment Marketing © Thomson/South-Western THE MARKETING MIX marketing mix how a business blends the following four elements Chapter 1 Slide 9 product distribution price promotion Sports and Entertainment Marketing © Thomson/South-Western product what a business offers to satisfy needs goods and services Distribution (Place) the locations and methods used to make products available to customers Chapter 1 Slide 10 Sports and Entertainment Marketing © Thomson/South-Western price amount customers pay for products promotion ways to make customers aware of products encourages customers to buy Chapter 1 Slide 11 Sports and Entertainment Marketing © Thomson/South-Western Marketing Mix Considerations discretionary income the amount of money individuals have available to spend after paying for necessities Striking the right balance between price, distribution and promotion is important. Chapter 1 Slide 12 Sports and Entertainment Marketing © Thomson/South-Western A Marketing Mix Example in the Sports Industry The product the Super Bowl offers a game between the best teams of the AFC and NFC. Consumer costs extend beyond ticket prices and include travel and lodging expenses. Distribution includes the location of the host city and ticket sales. Promotion involves media outlets and related-product contests. Chapter 1 Slide 13 Sports and Entertainment Marketing © Thomson/South-Western A Marketing Mix Example in the Entertainment Industry Rihanna concert needs to appeal urban residents set reasonable ticket prices advertise about the concert determine location plan ticket sales Chapter 1 Slide 14 Sports and Entertainment Marketing © Thomson/South-Western CORE STANDARDS OF MARKETING Chapter 1 Slide 16 Sports and Entertainment Marketing © Thomson/South-Western Distribution Distribution involves determining the best way to get a company’s products and services to customers. Chapter 1 Slide 17 Sports and Entertainment Marketing © Thomson/South-Western Marketing-Information Management gathering and using information about customers to improve business decision making - Chapter 1 Slide 18 Sports and Entertainment Marketing © Thomson/South-Western Pricing the process of establishing and communicating to customers the value or costs of goods and services Chapter 1 Slide 19 Sports and Entertainment Marketing © Thomson/South-Western Product/Service Management designing, developing, maintaining, improving and acquiring products or services to meet customer needs Chapter 1 Slide 20 Sports and Entertainment Marketing © Thomson/South-Western Promotion using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome Chapter 1 Slide 21 Sports and Entertainment Marketing © Thomson/South-Western Selling any direct and personal communication with customers to assess and satisfy their needs Chapter 1 Slide 22 Sports and Entertainment Marketing © Thomson/South-Western Financing A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services. Chapter 1 Slide 23 Sports and Entertainment Marketing © Thomson/South-Western Lesson 1.2 Sports Marketing Goals Define sports marketing. Explain the value of sports marketing to the economy. Chapter 1 Slide 25 Sports and Entertainment Marketing © Thomson/South-Western Terms demographics sports marketing gross impression Chapter 1 Slide 26 Sports and Entertainment Marketing © Thomson/South-Western WHY SPORTS MARKETING? demographics common characteristics of a group age, marital status, income, education sports marketing using sports to market products Chapter 1 Slide 27 Sports and Entertainment Marketing © Thomson/South-Western New Sports, New Opportunities continual innovation provides new opportunities extreme sports arena football Chapter 1 Slide 28 Sports and Entertainment Marketing © Thomson/South-Western Gross Impression gross impression the number of times per advertisement, game, or show that a product or service is associated with an athlete, team or entertainer Chapter 1 Slide 29 Sports and Entertainment Marketing © Thomson/South-Western Timing Fans want products and services that identify them with winning teams and athletes. Marketing efforts may need to be tweaked based on changes in winning trends. Chapter 1 Slide 30 Sports and Entertainment Marketing © Thomson/South-Western THE VALUE OF SPORTS MARKETING Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. Chapter 1 Slide 32 Sports and Entertainment Marketing © Thomson/South-Western Emotional Value Emotional connections to teams motivate fans to buy tickets to games and merchandise of their favorite teams and players. Chapter 1 Slide 33 Sports and Entertainment Marketing © Thomson/South-Western So Many Channels High profile sporting events generate strong promotional revenues for broadcasters. Chapter 1 Slide 34 Sports and Entertainment Marketing © Thomson/South-Western Lesson 1.3 Entertainment Marketing Goals Define entertainment. Describe the impacts of advances in entertainment technology on entertainment marketing. Chapter 1 Slide 36 Sports and Entertainment Marketing © Thomson/South-Western ENTERTAINMENT FOR SALE entertainment marketing influencing how people choose to spend their time and money on entertainment Chapter 1 Slide 38 Sports and Entertainment Marketing © Thomson/South-Western What Exactly is Entertainment? entertainment whatever people are willing to spend their money and spare time viewing rather than participating in Chapter 1 Slide 39 Sports and Entertainment Marketing © Thomson/South-Western EVOLUTION OF ENTERTAINMENT AND ENTERTAINMENT MARKETING At the beginning of the twentieth century, audiences needed to travel to the entertainment source. Audience feedback was instantaneous and live. Technology distanced entertainers from their audiences. Chapter 1 Slide 41 Sports and Entertainment Marketing © Thomson/South-Western The Beginning of Change Disneyland represented a new approach to the marketing mix of entertainment. Chapter 1 Slide 42 Sports and Entertainment Marketing © Thomson/South-Western The Big Eye in Every Room The Early Days of Television and Marketing TV changed the marketing of entertainment in a profound way. Television’s Increasing Influence ratings the number of viewers the programming attracted Chapter 1 Slide 43 Sports and Entertainment Marketing © Thomson/South-Western Change Accelerated Technology improvements, including the internet, have facilitated distribution of sports and entertainment to the masses. Chapter 1 Slide 44 Sports and Entertainment Marketing © Thomson/South-Western Technology and Customer Feedback Audiences can use a variety of communication technologies to provide entertainment feedback. - Chapter 1 Slide 45 Sports and Entertainment Marketing © Thomson/South-Western Project New Stadium Downtown Pick city to build new park. Type of stadium. What sports will play there? List 10 businesses that would be successful around the new stadium and why you picked them. Chapter 1 Slide 50 Sports and Entertainment Marketing © Thomson/South-Western