What Is Sports and Entertainment Marketing?

1. 1 What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing 1.3 Entertainment Marketing

2. Winning Strategies From $50 to $4 Million • A determined athlete • A supportive family Chapter 1

3. Lesson 1.1Marketing Basics Goals • Describe the basic concepts of marketing. • Explain the marketing mix. • Define the six core standards of marketing. Chapter 1

4. Terms • marketing • marketing mix • product • distribution • price • promotion • discretionary income Chapter 1

5. WHAT IS MARKETING? • marketing • the creation and maintenance of satisfying exchange relationships Chapter 1

6. Satisfying Customer Needs • identify your customer and the needs of your customer • develop superior products • operate your business profitably Chapter 1

7. 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

8. What is marketing? Chapter 1

9. THE MARKETING MIX • marketing mix • how a business blends the following four elements • product • distribution • price • promotion Chapter 1

10. product • what a business offers to satisfy needs • goods and services • distribution • the locations and methods used to make products available to customers Chapter 1

11. price • amount customers pay for products • promotion • ways to make customers aware of products • encourages customers to buy Chapter 1

12. 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

13. A Marketing Mix Example in the Sports Industry • The product the Super Bowl offers is 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

14. A Marketing Mix Example in the Entertainment Industry • State fairs need to • appeal to rural and urban residents • set reasonable ticket prices • advertise about the fair • determine fair location • plan ticket sales Chapter 1

15. What are the elements of the marketing mix? Chapter 1

16. CORE STANDARDS OF MARKETING Chapter 1

17. Distribution • Distribution involves determining the best way to get a company’s products and services to customers. Chapter 1

18. Marketing-Information Management • gathering and using information about customers to improve business decision making Chapter 1

19. Pricing • the process of establishing and communicating to customers the value or costs of goods and services Chapter 1

20. Product/Service Management • designing, developing, maintaining, improving and acquiring products or services to meet customer needs Chapter 1

21. 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

22. Selling • any direct and personal communication with customers to assess and satisfy their needs Chapter 1

23. 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

24. List and provide an example of each core standard of marketing. Chapter 1

25. Lesson 1.2Sports Marketing Goals • Define sports marketing. • Explain the value of sports marketing to the economy. Chapter 1

26. Terms • demographics • sports marketing • gross impression Chapter 1

27. WHY SPORTS MARKETING? • demographics • common characteristics of a group • age, marital status, income, education • sports marketing • using sports to market products Chapter 1

28. New Sports, New Opportunities • continual innovation provides new opportunities • extreme sports • arena football Chapter 1

29. 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

30. 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

31. Why are gross impression and timing important in sports marketing? Chapter 1

32. THE VALUE OF SPORTS MARKETING • Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. Chapter 1

33. Emotional Value • Emotional connections to teams motivate fans to buy tickets to games. Chapter 1

34. So Many Channels • High profile sporting events generate strong promotional revenues for broadcasters. Chapter 1

35. Name three ways that sporting events help boost the local economy and/or national economy. Chapter 1

36. Lesson 1.3Entertainment Marketing Goals • Define entertainment. • Describe the impacts of advances in entertainment technology on entertainment marketing. Chapter 1

37. Terms • entertainment marketing • entertainment • ratings Chapter 1

38. ENTERTAINMENT FOR SALE • entertainment marketing • influencing how people choose to spend their time and money on entertainment Chapter 1

39. What Exactly is Entertainment? • entertainment • whatever people are willing to spend their money and spare time viewing rather than participating in Chapter 1

40. What are the two ways of looking at entertainment marketing? Chapter 1

41. 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

42. The Beginning of Change • Disneyland represented a new approach to the marketing mix of entertainment. Chapter 1

43. 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

44. Change Accelerated • Technology improvements, including the internet, have facilitated distribution of sports and entertainment to the masses. Chapter 1

45. Technology and Customer Feedback • Audiences can use a variety of communication technologies to provide entertainment feedback. Chapter 1

46. Name a few benefits of television to marketers and advertisers. Chapter 1

47. PERFORMANCE INDICATORS EVALUATED • Communicate an appropriate advertising campaign through writing and speaking. • Analyze relevant data to make recommendations for an appropriate plan of action. • Demonstrate critical thinking and problem-solving skills when creating the advertising campaign. Chapter 1

48. Demonstrate teamwork to complete a group project. • Demonstrate advertising budgeting skills. Chapter 1

49. THINK CRITICALLY • Why is an advertising campaign necessary to overcome the city’s previous reputation? • Give several examples of activities other than sporting events to attract customers downtown. • What is the advantage of having new condominiums in the downtown area? • Does the light rail system present an advantage for your advertising campaign? Explain your answer. Chapter 1