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What is Marketing

What is Marketing. Section 1.1. Marketing?. Most visible business function… …least understood business function

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What is Marketing

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  1. What is Marketing Section 1.1

  2. Marketing? • Most visible business function… • …least understood business function • American Marketing Association def. – planning and executing the conception, pricing, promotion, and distribution of ideas, G&S to create exchanges that satisfy individual & organizational objectives.

  3. Marketing? • Is Marketing simply Advertising? • One of the main objectives of any business (especially in Marketing) is to take care of the customer’s needs.

  4. Marketing Mix • The Marketing Mix helps you to take care of almost all marketing activities. • Product – what are you offering your customers? • Price – what price are you charging for your product / service? • Place / Distribution – where is your product available to customers • Promotion – how do the customers know about your product / service?

  5. Marketing Mix • Video on the 4 P’s

  6. Super Bowl Mix • The Super Bowl is THE sports event of the year • Describe the Marketing Mix in terms of how it relates to this grand event: • Product – • Price – • Place / Distribution – • Promotion

  7. How do you decide? • There are many things to consider when trying to sell your product(s) to your customers: • Discretionary income • Why is this so important to Sports & Ent. Marketing? • Price • Distribution

  8. Cyber Marketing • With new technologies popping up all the time, live cybercasts of concerts are viewed and heard all around the world through the internet. • Movie companies broadcast movie trailers over the Net and market movie-related merchandise to consumers. • To see some of these videos you first have to type some personal info about yourself. • How do marketing companies use this info to better promote their products?

  9. Core Standards of Marketing • EVERY marketing activity includes at least 1 of the following: • Distribution • Marketing Information Management • Pricing • Product / Service Management • Promotion • Selling

  10. Sports Marketing Section 1.2

  11. Sports = $$$$ • Sports are big business at many universities throughout the country • 2010 / 2011 Bowl Season Payout • College Basketball vs. College Football • What NCAA sport makes more $ - football or basketball? • Do college athletic departments need to rely on students to “foot the bill”?

  12. Why Sports Mktg.? • Sports spectators are possibly the perfect potential customer • Why?

  13. Demographics • Are the statistics used to describe a population such as gender, age, race and earnings • example: • companies such as CoverGirl® and Secret® have endorsement deals with athletes such as Olympians NastiaLiukinand Shawn Johnson to help them market to young women 26

  14. Sports Marketing Sports consumer- an individual who may play, watch or listen to sports or read, use purchase and/or collect items related to sports Is all of the marketing activities designed to satisfy sports consumers Uses mainstream or alternative sports and/or the figures associated with these sports to connect with a targeted group of consumers Builds positive brand awareness Supports retail and sales promotions Can be completed either by a sports marketing firm or a general marketing firm 27

  15. Sports Marketing • Focuses on the sport and activities that accompany a sporting event such as event planning, promotion, financing and sponsorship • Can be divided into two major categories • marketing of the sport • a television advertisement for the Kentucky Derby • an Internet banner advertising the Indianapolis 500 • marketing through the use of sport • Tiger Woods endorsing Nike® sportswear • Peyton Manning advertising for DirectTV® 28

  16. Why Sports Mktg.? • Sports Marketing basically is marketing that takes advantage of sports • The goal of sports marketing is to use the right marketing mix to meet customer needs while generating a profit. • Marketers consider 3 factors to do this: • New Sports / Opportunities • Gross Impression • Timing

  17. Goals • New Sports / Opportunities • Skateboarding, snowboarding, arena football, curling • Winter X Games • Gross Impression • # of times per advertisement, game, or show that a product or service is associated with an athlete, team, or entertainer

  18. Goals • 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. • “Time is Money”, “Every loss is costing us $x”……

  19. Value of Sports Mktg. • Sports impact individual and family budgets • Little league games • Bowl games • The auto industry • Restaurants, hotels, parking lot attendants, etc. • Construction • Emotional Value • Different “channels” • $$$$ to advertise

  20. Value of Sports Mktg. • Name three ways that sporting events help boost the local economy and/or national economy.

  21. Entertainment Marketing Section 1.3

  22. Entertainment for Sale! • Purpose of Entertainment Marketing: • to influence how people choose to spend their time and money on entertainment • We’ll look @ this in 2 ways: • As a product to be marketed • How marketing uses entertainment to attract attention to other products

  23. What is Entertainment? • WHATEVER people are willing to spend their money and spare time viewing rather than participating in. • Can include sports or the arts and can be viewed in person or in broadcast or recorded form • Sports is defined as something that requires athletic skill • Entertainment is defined as watching something. Usually applies to movies, theater, music concerts, the circus, etc.

  24. History • Some important happenings in the world of entertainment: • Louis Le Prince – made 1st movie with moving pics (1888) • 1st movie with sound – The Jazz Singer (1927) • 1st animated film – Mickey Mouse’s Steamboat Willie (1928) • 1st full-length animated film – Snow White (1938) • Disneyland opened in 1955 due to popular response • Disneyland posed a brand new way to market a product

  25. The Big Eye in every room! • When TV entered into every home in America, sports & entertainment marketers found a highway into the billfolds of consumers. • It’s ever increasing influence • The number of tv stations grew from 9 in 1945 to 98 by 1949! • Change • What was few is now many • New Technologies

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