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Understanding Sports Marketing Strategies

Explore the basics of sports and entertainment marketing, from customer demographics to product pricing and promotion methods. Learn about target markets, creating exchange relationships, and the impact of sports logos on consumer behavior.

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Understanding Sports Marketing Strategies

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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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