What Is Sports and Entertainment Marketing? Sports and Entertainment Marketing Thomson/South-Western

Transcription

1 1 What Is Sports and Entertainment Marketing?

2 Winning Strategies From $50 to $4 Million A determined athlete A supportive family Slide 2

3 Lesson 1.1 Marketing Basics Goals Describe the basic concepts of marketing. Explain the marketing mix. Define the six core standards of marketing. Slide 3

4 Terms marketing marketing mix product distribution price promotion discretionary income Slide 4

5 WHAT IS MARKETING? marketing the creation and maintenance of satisfying exchange relationships Slide 5

6 Satisfying Customer Needs identify your customer and the needs of your customer develop superior products operate your business profitably Slide 6

7 Sports and Entertainment Marketing Marketers of sports and entertainment marketing must assess consumer demand the competition the financial valuation of the goods and services they offer Slide 7

8 What is marketing? Slide 8

9 THE MARKETING MIX marketing mix how a business blends the following four elements product distribution price promotion Slide 9

10 product what a business offers to satisfy needs goods and services distribution the locations and methods used to make products available to customers Slide 10

11 price amount customers pay for products promotion ways to make customers aware of products encourages customers to buy Slide 11

12 Marketing Mix Considerations discretionary income the amount of money individuals have available to spend after paying for necessities Striking the right balance between price, distribution and promotion is important. Slide 12

13 A Marketing Mix Example in the Sports Industry The product the Super Bowl offers is a game between the best teams of the AFC and NFC. Consumer costs extend beyond ticket prices and include travel and lodging expenses. Distribution includes the location of the host city and ticket sales. Promotion involves media outlets and related-product contests. Slide 13

14 A Marketing Mix Example in the Entertainment Industry State fairs need to appeal to rural and urban residents set reasonable ticket prices advertise about the fair determine fair location plan ticket sales Slide 14

15 What are the elements of the marketing mix? Slide 15

16 CORE STANDARDS OF MARKETING Slide 16

17 Distribution Distribution involves determining the best way to get a company s products and services to customers. Slide 17

18 Marketing-Information Management gathering and using information about customers to improve business decision making Slide 18

19 Pricing the process of establishing and communicating to customers the value or costs of goods and services Slide 19

20 Product/Service Management designing, developing, maintaining, improving and acquiring products or services to meet customer needs Slide 20

21 Promotion using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome Slide 21

22 Selling any direct and personal communication with customers to assess and satisfy their needs Slide 22

23 Financing A company must budget for its own marketing activities and provide customers with assistance in paying for the company s products and services. Slide 23

24 List and provide an example of each core standard of marketing. Slide 24

25 Lesson 1.2 Sports Marketing Goals Define sports marketing. Explain the value of sports marketing to the economy. Slide 25

26 Terms demographics sports marketing gross impression Slide 26

27 WHY SPORTS MARKETING? demographics common characteristics of a group age, marital status, income, education sports marketing using sports to market products Slide 27

28 New Sports, New Opportunities continual innovation provides new opportunities extreme sports arena football Slide 28

29 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 Slide 29

30 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. Slide 30

31 Why are gross impression and timing important in sports marketing? Slide 31

32 THE VALUE OF SPORTS MARKETING Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. Slide 32

33 Emotional Value Emotional connections to teams motivate fans to buy tickets to games. Slide 33

34 So Many Channels High profile sporting events generate strong promotional revenues for broadcasters. Slide 34

35 Name three ways that sporting events help boost the local economy and/or national economy. Slide 35

36 Lesson 1.3 Entertainment Marketing Goals Define entertainment. Describe the impacts of advances in entertainment technology on entertainment marketing. Slide 36

37 Terms entertainment marketing entertainment ratings Slide 37

38 ENTERTAINMENT FOR SALE entertainment marketing influencing how people choose to spend their time and money on entertainment Slide 38

39 What Exactly is Entertainment? entertainment whatever people are willing to spend their money and spare time viewing rather than participating in Slide 39

40 What are the two ways of looking at entertainment marketing? Slide 40

41 EVOLUTION OF ENTERTAINMENT AND ENTERTAINMENT MARKETING At the beginning of the twentieth century, audiences needed to travel to the entertainment source. Audience feedback was instantaneous and live. Technology distanced entertainers from their audiences. Slide 41

42 The Beginning of Change Disneyland represented a new approach to the marketing mix of entertainment. Slide 42

43 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 ratings the number of viewers the programming attracted Slide 43

44 Change Accelerated Technology improvements, including the internet, have facilitated distribution of sports and entertainment to the masses. Slide 44

45 Technology and Customer Feedback Audiences can use a variety of communication technologies to provide entertainment feedback. Slide 45

46 Name a few benefits of television to marketers and advertisers. Slide 46

47 PERFORMANCE INDICATORS EVALUATED Communicate an appropriate advertising campaign through writing and speaking. Analyze relevant data to make recommendations for an appropriate plan of action. Demonstrate critical thinking and problem-solving skills when creating the advertising campaign. Slide 47

48 Demonstrate teamwork to complete a group project. Demonstrate advertising budgeting skills. Slide 48

49 THINK CRITICALLY 1. Why is an advertising campaign necessary to overcome the city s previous reputation? 2. Give several examples of activities other than sporting events to attract customers downtown. 3. What is the advantage of having new condominiums in the downtown area? 4. Does the light rail system present an advantage for your advertising campaign? Explain your answer. Slide 49