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Bell Ringer (5 minutes)

Bell Ringer (5 minutes). You ordered a meal at Taco Bell for you and a friend. The total of the meal was $21.07. You gave the cashier $30.00. How much change will you receive?. Bell Ringer Answer. $ 30.00 - $21.07 = $8.93 Your change would be $8.93. Agenda. Bell Ringer – (5 minutes)

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Bell Ringer (5 minutes)

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  1. Bell Ringer (5 minutes) • You ordered a meal at Taco Bell for you and a friend. The total of the meal was $21.07. You gave the cashier $30.00. How much change will you receive?

  2. Bell Ringer Answer • $30.00 - $21.07= $8.93 • Your change would be $8.93.

  3. Agenda • Bell Ringer – (5 minutes) • Discuss daily objectives - (2 minutes) • Six Core Standards of Marketing Lecture and Activity – (20 minutes) • What is Sports Marketing Lecture – (30 minutes) • Quiz – (15 minutes)

  4. Vocabulary Words • Demographics • Sports marketing • Gross Impression

  5. Daily Objectives • Define the six core standards of marketing • Define sports marketing. • Explain the value of sports marketing to the economy.

  6. Money Makers: NCAA Basketball • In the 2010 – 2011 Season the following programs generated a revenue of: • University of Louisville  $40 million • Duke  $28 million • North Carolina  $19 million • Kentucky  $18 million Revenue  Money that comes into a business

  7. Why is the U of L’s revenue so substantial over other programs?

  8. U of L’s Men’s Basketball ProgramRevenue Breakdown • $20 million in donations from season ticket holders • $14 million in ticket sales for 23 home games. • Ticket prices -> $16 - $250 (average $35) • 71 luxury suites average $85,000 for the year • $1+ million in concession sales, parking, and programs

  9. NCAA Tournament • By playing in the NCAA tournament, teams secure money from CBS. • CBS distributed $740 million to 68 tournament teams last season

  10. Coaches Pay • Rick Pitino’s base pay was $3.9 million last season, with the opportunity to earn over $6 million bonuses.

  11. Why Sports Marketing • Demographics – common characteristics of a group, such as age range, marital status, gender, ethnic background, income level, and education level. • Finding out a group of spectators’ interests and planning a product or service that the spectators will buy is a huge function of sports marketing.

  12. Sports Marketing • Sports Marketing - using sports to market products. • Capitalizes on the popularity of sports. • Marketers research the demographics and spending habits of fans in order to maximize profits on the items fans purchase in association with sporting events. • The goal of sports marketing is to use the right marketing mix to meet customer needs while generating a profit. • Marketers must consider 3 factors: new opportunities, gross impression, and timing.

  13. New Sports, New Opportunities • Sports Marketers must continually search for new ways to appeal to customers. • New sports markets offer new opportunities for endorsement and marketing. • Extreme sports (X Games, Skateboarding, Snowboarding, Arena Football)

  14. Arena Football • Arena Football founded in 1987. • Tickets avg $17.50 • Players meet fans and sign autographs at every single game • Action is continuous because the clock doesn’t stop.

  15. Gross Impression • Gross Impression - The number of times per advertisement, game, or show that a product or service is associated with an athlete, team, or entertainer. Gross Impression

  16. Timing • Timing is extremely important when marketing sporting goods. Fans want products and services that identify them with a winner.

  17. The Value of Sports Marketing • Sports Marketing is a multi-billion dollar global industry that has a definite impact on the economy. • Money: Travel plans, cars, hotels, restaurants, service stations, etc. • Job opportunities: parking lot attendant, maintenance staff, building managers, trainers, agents, etc.

  18. In Groups: • Discuss how the sports industry financially impacts your category. Be prepared to share with the class. • Group 1: Hotels • Group 2: Restaurants • Group 3: Security • Group 4: Maintenance Crews • Group 5: Coaches

  19. The Value of Sports Marketing • Emotional Value • Sports fans have emotional ties to their favorite teams. • Many sports enthusiasts live for the weekend to see their favorite teams in action. • Fans will freely spend their discretionary income on sporting events that capture their hearts.

  20. The Value of Sports Marketing • Marketers for the hundreds of television networks now available through cable and satellite systems must consider marketing strategies to capture the highest possible percentage of the viewing audience for the least amount of money. • Television networks pay top dollars to obtain exclusive broadcasting rights for high profile sports events in hopes of reaping financial benefits.

  21. Assessment (30 points) • Which core standard involves catering and using data to make future business decisions? • Describe the four elements of the marketing mix? • Researching the demographics of a fan base would be closely associated with which core standard of marketing? • Give an example of how timing is essential to selling related merchandise for a popular sporting event? • Think of one of your recent purchases. List and describe how the six core standards of marketing were involved with the purchase.

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