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WHAT IS MARKETING?

WHAT IS MARKETING?. Marketing Long definition – Planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives

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WHAT IS MARKETING?

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  1. WHAT IS MARKETING? • Marketing • Long definition – Planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives • Simple definition – anything that you do to get the product/service in the hands of customers. Satisfying needs and wants. Chapter 1

  2. Sports and Entertainment Marketing • Marketing of sports and entertainment. • Round Rock Express giving out free tickets, or advertising season ticket packages • Marketing through sports and entertainment. • Companies use sports and entertainment as a vehicle to gain exposure for their products (think Gatorade) Chapter 1

  3. THE MARKETING MIX • A.K.A - The 4 P’s • how a business blends the following four elements • product • place • price • promotion Chapter 1

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

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

  6. A Marketing Mix Example in the Entertainment Industry • Can you give me an example of the marketing mix being used in the Entertainment industry? • Think: States Fairs, Movies, Shopping, Reading, etc. Chapter 1

  7. CORE FUNCTIONS OF MARKETINGThe basis of all marketing activities Chapter 1

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

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

  10. 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

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

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

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

  14. 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

  15. Chapter 1

  16. WHY SPORTS MARKETING? • demographics • common characteristics of a group • age, marital status, gender, ethnic background, income, education • sports marketing • large audiences to market products Chapter 1

  17. New Sports, New Opportunities • continual innovation provides new opportunities • X Games • MMA • New Summer Olympic Sports – Golf and Rugby being considered for 2016 Chapter 1

  18. THE VALUE OF SPORTS MARKETING • Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. • Hospitality Industry • Emotional connections influence buying • Promotional streams for media outlets Chapter 1

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

  20. ENTERTAINMENT FOR SALE • entertainment marketing • influencing how people choose to spend their time and money on entertainment • concerts, movies, amusement parks, theater, etc. • What would you consider the WWE? Chapter 1

  21. Entertainment Marketing – Viewed in two ways: • Entertainment as a product to be marketed OR • How to use entertainment to attract attention to other products Chapter 1

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

  23. The Beginning of Change • Disneyland (1955) represented a new approach to the marketing mix of entertainment. Chapter 1

  24. 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 • The pricing of commercial time slots tied to the ratings • the number of viewers the programming attracted Chapter 1

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

  26. Technology and Customer Feedback • Audiences can use a variety of communication technologies to provide entertainment feedback. • Think American Idol voting Chapter 1

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