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Sports and Entertainment Marketing

Sports and Entertainment Marketing. Marketing Basics. Roughly half of every dollar you spend on a product goes to cover marketing costs. Quick Review:

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Sports and Entertainment Marketing

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  1. Sports and Entertainment Marketing

  2. Marketing Basics • Roughly half of every dollar you spend on a product goes to cover marketing costs. • Quick Review: • Marketing: Planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives • Customer: Person who buys the product(s)/service • Consumer: Person who uses the product(s)/service

  3. What is Marketing? Customer Sports Team Business • Simplified: The creation and maintenance of satisfying exchange relationships. • Creation: Product development • Maintenance: Lasts as long as the business operates • Satisfaction: All needs must be met, both customer and businesses • Exchange Relationship: The giving and receiving of something of value for both parties

  4. PRODUCT PRICE Marketing Mix PROMOTION PLACE

  5. PRODUCT • What a business is offering customers to satisfy their particular wants and needs • Examples: • Athletic shoes • Clothing/Apparel • Videos/DVDs

  6. PLACE • Locations and methods used to make products available to customers • Examples: • Stores/Retailers • Train • Plane/Ship • Auto • Wholesaler • Retailer

  7. PRICE • The amount the customer will pay for the given product/service How much for a front row seat?

  8. PROMOTION • Ways in which customers are encouraged to purchase products and increase satisfaction • Examples: • Advertising • Publicity • Public Relations • Personal Selling

  9. SPORTS MARKETING • Using sports to market select products • Fans/Spectators at sporting events are potential consumers of a wide variety of products. • http://www.youtube.com/watch?v=Fx6i7fArWpY

  10. Two Types of Sports Marketing • Marketing of Sports and Entertainment • Marketing through sports and entertainment

  11. TARGET MARKET • Target Market is the specific group of people you want to reach with your product or service. • In order to successfully sell products/services, companies must know the wants and needs of the target market

  12. DEMOGRAPHICS • Specific information to include age, gender, income and race. • Essential in determining the buying habits of customers • The most important aspect is Income – Disposable income ( income that can be freely spent) • Spending habits – will determine what products and services to produce and what prices to charge

  13. Sports Marketing Strategies • Sports logos on clothing • Creation of new sports • Gross Impression • Perfect Timing

  14. Sports logos on clothing • People wear this type of clothing because it shows fan loyalty • Value of merchandise is increased in the eyes of the buyer • Some consumers feel more successful themselves • Colleges and pro teams have earned large sums of money from such endorsements

  15. New SportsNew Opportunities • New sports markets offer new opportunities for endorsement and marketing • WNBA, WUSA, Arena Football

  16. Gross Impression • Number of times per advertisement, game, or show that a product or service is associated with an athlete, team, or entertainer • Often they are subtle and continuous • You will see them in all fashions, cars, shoes, clothes, billboards, etc.

  17. Timing • Fans want products/services that identify them with a winner • Successful trends for athletes and teams must be monitored to determine when to change/adjust the marketing strategies.

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