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Sports Marketing

Sports Marketing. Final Exam Review Mrs. Massimo. Unit 1 Introduction to Marketing. Marketing: The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals.

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Sports Marketing

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  1. Sports Marketing Final Exam Review Mrs. Massimo

  2. Unit 1 Introduction to Marketing • Marketing: The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational goals.

  3. Unit 1 Introduction to Marketing • The Marketing Concept: The process of developing, promoting and distributing products or goods and services to satisfy customer needs and wants • Market: Consists of the potential customers with shared needs who have the desire and ability to buy a product • The segment of the market you direct your business to

  4. Unit 1 Introduction to Marketing • Needs: Basic necessities • Marketing Mix: • All the tools or activities available to organizations that can be used in meeting the needs of a target market. • Consists of FOUR ELEMENTS (4 P’s): • A combination of the 4 principle marketing strategies • Product • Price • Place (or Distribution) • Promotion

  5. Unit 1 Introduction to Marketing • Mass Marketing: One key message that is directed to everyone • Demographics: Descriptive characteristics of a market such as age, gender, race, income, occupation and educational level.

  6. Unit 1 Introduction to Marketing • The 4 P’s: Product -the good or service sold to customers (Tangible or Intangible Ex. Baseball mitt vs. pitching lessons) Price- The dollar amount the producer charges the consumer Place (or Distribution)-Where the product is sold and how it gets to the consumer Promotion- Any form of advertising, publicity, personal selling or sales uses to persuade people to buy your product • The 5th P: Public Relations (Especially in Sports )- Activities designed to create a positive image for a business, product or player

  7. Unit 1 Introduction to Marketing • Consumers: the person who actually uses the product. • Customers: someone who is actively looking for a product and may actually purchase it.

  8. Unit 1 Introduction to Marketing • Disposable Income: Money left over after paying necessary expenses • Good : Tangible (can see it, touch it, take it with you) EX. Jersey, football helmet, baseball card • Service: Intangible (can’t see it, touch it, take it with you) Ex: Pitching lessons, Meet and greet, playoff game

  9. Unit 1 Introduction to Marketing • Requirements to start a new franchise: Must have approval and agreement from • The League • The Owners • The Local Government • To maximize profit, cities with teams should have: • Enough hotel rooms and restaurants • Other attractions for tourists • Shopping areas

  10. Unit 1 Introduction to Marketing • Target Marketing: Directing your efforts to reach the part of your market that you want to target for your business • Secondary Target Market: Would be your 2nd largest or 2nd most intriguing group of people.

  11. Unit 2 Sport Consumer Behavior • Geographics: These are characteristics based on where a market lives and works. Different parts of the country have different needs and wants based on their location. • Demographics: Descriptive characteristics of a market such as age, gender, race, income, and educational level. • Psychographics: These are characteristics based on peoples’ values, interests, and lifestyle. • ALL USED TO SEGMENT A MARKET

  12. Unit 2 Sport Consumer Behavior • SportConsumer:Theconsumer is the client that uses your product or takes advantage of your service. May play, watch or listen to sports. May read, use, purchase and or collect items related to sports • FANS • Athletes/Coaches/Officials • Sport Firms

  13. Consumers involve themselves in sports in 3 ways: • Affective • Behavioral • Cognitive

  14. Affective Involvement • The attitude, feelings and emotions that a consumer has toward an activity or sport.

  15. Behavioral Involvement • Includes hands-on activities such as going to a game and rooting for a team or actively participating in a sport. • Requires large expenditures on sports and sport activities. • These fans are committed to sports and they are a major part of their lifestyle

  16. Cognitive Involvement • The acquisition of information and knowledge about a sport. • Magazines, newspapers, internet blogs, game programs, radio, and TV are ways that the cognitive fan can keep up with and learn about a particular sport or the players.

  17. Unit 2 Sport Consumer Behavior • Individual Factors: SELF CONCEPT • STAGE IN THE FAMILY LIFE CYCLE • PHYSICAL CHARACTERISTICS • MOTIVATION • ATTITUDES • LEARNING OF A SPORT • PERCEPTION

  18. Unit 2 Sport Consumer Behavior • External Factors: Environmental Factors Including • SIGNIFICANT OTHERS-family and friends (as you get older peers have a larger impact) • CULTURAL NORMS AND VALUES • CLASS, RACE, GENDER RELATIONS (Title IX) Present day 1 in 3 girls participate • CLIMATIC AND GEOGRAPHIC CONDITIONS • MARKET BEHAVIOR OF SPORT FIRMS AND ORGANIZATIONS

  19. Marketing Research • Market Research: The systematic gathering, recording and analyzing of data about problems relating to the marketing of goods and services • Market Segmentation: Analyzing your market and dividing it into sections based on specific characteristics to create a target market

  20. The Sport Product • Product: Physical item –tangible Ex. Baseball bat • Sport Service: Consumed at the time of purchase –intangible Ex. Hitting lessons, sport event The core is the event experience composed of four components: • Game Type • Players • Equipment • Venue

  21. The Sport Product • Opportunity Cost: The loss of an opportunity that is given up in order to receive something in exchange • Ex. Go to a game – give up time that could be spent working or studying, give up money that could be saved or spent on something else

  22. The Sport Product • Product Item One single item: a hockey stick, a golf club • Product Line Group of closely related products made/sold by a company Multiple items: Nike’s line of running shoes, Under Armour’s line of cold weather gear

  23. The Sport Product • Product Development Process Product Development includes six basic steps: 1) Generation of Ideas - brainstorming 2) Screening of Ideas –feasibility (reality check) 3) Market and Business Analysis –financial aspects of making product, where and how to distribute 4) Development of Product – prototype (first model of the product) 5) Market Testing – offer product for sale to a small group 6) Commercialization--mass production and distribution

  24. The Sport Product • Brand: Overall image built using Name, words, symbols, design that identifies an organization and it’s products • Trademark: Legally identifies a registered brand

  25. The Sport Product • Customizing: Altering a product to fit the particular needs of your customer Ticket packages, design your own shoes Value: Customers personal satisfaction with product/service/event May depend upon -Convenience -Aesthetics (how it looks) -Cleanliness, comfort, security -Availability -Durability

  26. Unit 5 Sport Pricing • Pricing • The central equation for sport pricing in all situations is: • Satisfaction=Benefit-Cost • The dollar amount the producer charges the consumer. • Profit= (Price - Producer Cost)

  27. Unit 5 Sport Pricing • Price Skimming: Pricing a product high to see what you can get out of the market (skim off the top) • Penetration Pricing: Pricing a product low in order to quickly generate demand Begin by offering low prices to establish a fan base, then slowly increase your prices • Demand Oriented: Pricing goods according to what the customer is willing to pay

  28. Unit 5 Sport Pricing Base your prices on your own costs, then determine the profit you desire. • Market Pricing (Going Rate): Base your prices on what your competitiors are charging • Peak –Load Basing your prices on • seasonal demands • Cost Based:

  29. Purchasing • The marketing function of purchasing involves: • Reviewing inventory • Purchasing items needed to re-stock

  30. Unit 6 Sport PromotionTo create awareness, inform and influence • Internet, TV and Radio are technological advances that have helped to create a multi-billion dollar marketing/advertising industry • The Promotional Mix is any combination of advertising, publicity, sales promotion and personal selling

  31. Unit 6 Sport Promotion • Endorsements: Celebrity/Athlete approved support of a product Wheaties, Campbell’s soup • Public Relations: The 5th P (Especially in Sports )- Activities designed to create a positive image for a business, product or player

  32. Unit 6 Sport Promotion Cross Promotion: Customers of one product or service are targeted with a promotion for a related product Ex. NFL Super Bowl cross promotion Pepsi Competition: The Struggle between companies for customers

  33. Unit 6 Sport Promotion • Sales Promotions: There are two General Types of Promotions: • Price-Oriented • Non Price-Oriented • Non Price-Oriented: • Includes special events, giveaway items, and other tangible incentives • Price-oriented • Involves discounting, or making other price-related manipulations. (2 for 1) • Ex. Offering coupons for discounted price on product/service/event

  34. Unit 6 Sport Promotion • Publicity: FREE • Any form of unpaid advertising. Usually some sort of free advertising from a neutral third party. • Purpose: To draw attention to an event or program. • Examples: • Press conference, press release • articles in the local newspaper • coverage on TV or radio

  35. Unit 6 Sport Promotion • Advertising: Any PAID form of non personal presentation and promotion of ideas, goods, or services by an identified sponsor • Communicate information about attributes and benefits • Develop or change an image • Associate a brand with feelings and emotions • Precipitate behavior

  36. Sport Marketing • Matching clients and sponsors • Planning and overseeing marketing projects • Working with the media

  37. HEAVYUSER: includes season ticket holders or luxury box attendees. • Goal is to keep them happy. • MEDIUMUSER: attend 10-30% of a team’s home games. May have a partial plan. • Goal is to get them to realize they can take the next step. • LIGHT USER: no established attendance pattern. Attend based on opponent or availability or give away. • Goal is to inform them of partial plans or group plans. • NON CONSUMER: (non aware, aware, media types) • Goal is to inform

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