Q.O.D. 8/19/14

1. Q.O.D.8/19/14 • Name 5 examples of goods and services consumers demand in sports & entertainment.

2. Intro to Sports Marketing Mrs. Wilson Ryle High School

3. Q.O.D.8.19.14 • What do you think marketing means? What does it involve? • How does marketing relate to sports? • Work with your table and name 10 things a business could do to market themselves.

4. Standard One • Students will discover the world of sports marketing and the use of marketing to promote sports and non-sports businesses in sports. Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

5. What is Marketing? • Marketing is a process of bringing together sellers and buyers. Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

6. Exchanges • Everyday transactions between producers and consumers • Typically trading money for a product or service Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

7. Producers • Individuals or Companies which have products to be sold. • They provide the “supply.” • They are willing to exchange the product or service for something of value. Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

8. Consumers • Individuals or Companies who have needs to be met and have something to exchange. • They create a “Demand.” • They have something to exchange for a product or service and are willing to spend money. $$$$$ Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

9. Marketing -- The Definition • “Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods or services to create exchanges which satisfy individual and organizational objectives.” Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

10. What is Marketed? • DURABLE GOODS- what are some example? • NONDURABLE GOODS • SERVICES • PEOPLE Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

11. What is Marketed? • PEOPLE • PLACES • ORGANIZATIONS Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

12. Q.O.D.8/20/14 • Define & give an example of the following: • Producers • Consumers • Exchange • Marketplace

13. Q.O.D. #2 • In 2006, a family of 4 could expect to pay an avg. of $352 to attend 1 Chicago Cubs game. This price included 4 tickets, parking, 4 hot dogs 4 drinks, 2 programs & 2 hats. • What do you think the price was this season?

14. Chicago Cubs • Most expensive tickets in the National League • 2014 average ticket price was $100.58 • They haven’t had a winning season since 2009… • How are they able to charge so much???

15. Most Expensive???? • Who do you think has the most expensive baseball tickets in MLB? THE BOSTON RED SOX- AVERAGE TICKET PRICE OF $141…

16. 3 5 1 2 6 4 7 9 8 10 11 13 12 14 15 16 Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

17. The 4 Ps of Marketing • Product • Price • Promotion • Distribution (Place) • The FOUR P’s OF MARKETING ---- People ---- Often Considered the Fifth P Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

18. Marketing Mix • Discretionary Income- amt. of $ people have to spend after paying for necessities of life (food, car, house)

19. Benefits of Marketing • Add UTILITY to goods and services • Makes buying convenient for the consumer (us) • Maintains reasonable prices • Provides a variety of goods and services • Increases production Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

20. Sports Marketing • Sports Marketing uses marketing elements to meet the goals of a sports property. • Product Strategies • Service Strategies • Pricing Strategies • Promotion Strategies • Distribution Strategies Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

21. Sports • Sports are a source of diversion or physical activity engaged in for pleasure • Can be spectatorship • Can be participation and play • Either way, you’re spending money… • This extra money is called DISCRETIONARY INCOME. Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

22. Sports Consumers • Consumers exchange money for a “wanted” good or service. • Sports Consumers exchange in different ways: • Spectators as Consumers • Benefit by watching game • Exchange for tickets and entertainment • Participants as Consumers • Benefit by playing or participating • Exchange for equip. & participation Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

23. Sports Producers • Sports Producers May Provide: • Events for Participation • Events for Entertainment Viewing • Sporting Goods and Equipment • Licensed Merchandise • Collectables and Memorabilia • Athlete Training • Sports Information • Event Coverage and Distribution Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

24. Q.O.D.8/19/11 • What are the 5 benefits of Marketing? Explain each.

25. Sports Industry Growth • Attendance Growth • $135-350 Billion per Year • Nearly Every Sport and League + • Media Coverage and Growth • Main Stream and Alternative Sports Coverage • Coverage Growing with Demand • Employment Growth • 14.8 % employment growth for sports coaches between 2012 and 2022, which will add 36,200 new positions • Global Markets • Expansion of Leagues & Marketing outside of U.S. • Availability of News Media and Sports Reporting Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

26. Target Market • Target market: a SPECIFIC group of people you are trying to reach or sell to. • How do you get these specifics? Demographics & Socioeconomics • Demographics— • Age • Gender • Income • Education Level • Occupation • Race/Ethnicity

27. Socioeconomics • Level of income • Education • Wealth (disposable income)

28. Target Market Examples • Pricey makeup company would identify a target market that most likely included women who are old enough and educated enough to have the disposable income to spend on the products being offered. • These target customers would most likely live in well-to-do areas of the country and world, so advertisements for the products would likely be concentrated in wealthy and cosmopolitan areas. • https://www.youtube.com/watch?v=ntZ14BAFMyo

29. Practice using Target Markets • Describe the target market for the following products: • UK football game • NASCAR tickets • Pool stick • Bowling shoes • Nike Basketball shoes • Skis • Season Passes to King’s Island

30. Q.O.D.8/27/14 • Why is it important for a business to have the CORRECT target market ? • Think of an example where a company could assess the incorrect target market. • 1st, name a company • 2nd, name what you think to be their target market • 3rd, name how they could incorrectly focus their target market on another group of individuals. Would that hurt business? Why/Why not? • Example: Chipotle targeting senior citizens (why would senior citizens be BAD for business?) Discover The World Of Sports Marketing; Use in Marketing OF Sports and THROUGH Sports

31. Table Group Assignment • Choose a business (local or national) • Give a brief description of the business including a few of the products they sell • Identify the primary target market of the business using the sheet I just gave you • Include income, age, gender, occupation, ethnicity, marital status and geographic information • Next, explain why those specific products from the small business are geared towards the target market