Marketing Objectives & Strategies

1. Marketing Objectives & Strategies Sport Marketing University of San Francisco Sport Management

2. marketing objectives… • A “roadmap” to the overall corporate mission • The most indispensable component to the plan! (“Success measurement”) • Marketing Objectives Must … • Be consistent with organizational objectives • Have a specific time frame for completion • Be realistic yet achievable • Be measurable (quantifiable)! • Be challenging and motivational! • Be clear and concise • Be people-specific

3. management process… • Control the people (not costs, schedules, performances) by making them directly accountable. • State your “competitive differential advantage” and levels of sales, profit, brand indices. • Assign (attainable) accountability. • Develop a time frame (w/ regular check points)

4. marketing strategies… • “How” will you achieve each objective? “Game Plan” • The “By..” method • Ex. • Objective • “Increase performance-shoe sales in Nor Cal by 15% vs. PY” • Strategy • “by… “ • WWE video (4’32’’)

5. 4 Marketing strategies • Market Penetration • - Can be the 1st in the market • Prone to mistakes • Penetrate market by (1) w/ existing products, or (2) consume at a higher rate • Mullin’s (1985) Escalator Model: Easier and cheaper to get existing consumers to buy more than to attract new consumers.” (Refer to p.84) • Ex. BK Combo Meals • Hospitality programs - Maintaining LOYALTY

6. Marketing strategies • 2. Market expansion • Increase the volume of existing products sold to new consumers • Get a bigger share of the untapped consumers • Accomplished through better or more promos (Brooks, 1990) • ID of new market is critical • Ex. WWE Raw in Germany, • SF Giants baseball to the Bay area Asians.

7. Marketing strategies • 3. Product development • Create new products and services to meet the needs of existing markets • Ex. WWE magazines, WWE DVD’s, Nike + • Developing apparel line for female runners that go with the shoe line • 4. Diversification • Create new products for new consumers using existing personnel, expertise, system • Ex. ESPN Deportes

8. Marketing strategies • Existing ProductsNew Products • Existing markets Market Product Penetration Development • New markets Market Diversification • Expansion • Sell more to the same people (Penetration) • Sell same thing different people (Expansion) • Sell different things to same people (Product Development) • Sell different things to different people (Diversification) • * Strategies ultimately impact bottom-line profitability! • Other strategies can be drawn from the interplay of the 4P’s. • Group discussion - Wharton article!

9. Strategies vs. tactics • “How” vs. “With what” • Game plan vs. X & O’s • Tactics involve highly SPECIFIC and detailed blueprint – kick-butt IDEAS (Creative yet manageable)!! DELIVER YOUR STORY! • DON’T FORGET “WOW FACTORS” IN YOUR TACTICS.