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Bell Work

Bell Work. Please write down your favorite team/show/form of entertainment. List reasons why you like them. What does it cost? How do you get to it? Does it come to you or do you go to it? What are some types of promotional events to attract you?. 1.

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Bell Work

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  1. Bell Work Please write down your favorite team/show/form of entertainment. List reasons why you like them. What does it cost? How do you get to it? Does it come to you or do you go to it? What are some types of promotional events to attract you?

  2. 1 What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing 1.3 Entertainment Marketing

  3. Winning Strategies From $50 to $4 Million • A determined athlete • A supportive family Chapter 1

  4. Lesson 1.1Marketing Basics Objectives • Describe the basic concepts of marketing. • Explain the marketing mix. • Define the six core standards of marketing. Chapter 1

  5. Terms • marketing • marketing mix • product • distribution • price • promotion • discretionary income Chapter 1

  6. WHAT IS MARKETING? • Marketing • the creation and maintenance of satisfying exchange relationships Chapter 1

  7. WHAT IS MARKETING? • Simplified • The development of a product that lasts and meets the needs of a consumer who is willing to pay for it. Chapter 1

  8. Satisfying Customer Needs • identify your customer and the needs of your customer • develop superior products • operate your business profitably • Name some companies that have done this well. Chapter 1

  9. 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 Chapter 1

  10. THE MARKETING MIX • marketing mix • how a business blends the following four elements • product • distribution • price • promotion Chapter 1

  11. product • what a business offers to satisfy needs • goods and services • distribution • the locations and methods used to make products available to customers Chapter 1

  12. price • amount customers pay for products • promotion • ways to make customers aware of products • encourages customers to buy Chapter 1

  13. 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. Chapter 1

  14. 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. Chapter 1

  15. One of my favorite products Chapter 1

  16. Mets Product • Baseball Team (tickets) • Advertising Space • Merchandise • Championships 1986 World Champions Chapter 1

  17. Mets Price • Tickets • Range from $27 to $695 • Bundle Pricing-Season Tickets • Advertising Space • $400 million for naming rights Chapter 1

  18. Mets Placement • Field: Citi Field • T.V.: Sports New York (SNY) • Radio: WFAN 660 AM Chapter 1

  19. Mets Promotion • Special Nights • Dollar Dog Night “Oh Yeah!” • Bobble Head Night • Community Work • Winning Team • Advertising Chapter 1

  20. What are the elements of the marketing mix? • Take your products from the beginning of class and discuss what the P’s are of your product. Chapter 1

  21. CORE STANDARDS OF MARKETING Chapter 1

  22. Distribution • Distribution involves determining the best way to get a company’s products and services to customers. Chapter 1

  23. Marketing-Information Management • gathering and using information about customers to improve business decision making Chapter 1

  24. Pricing • the process of establishing and communicating to customers the value or costs of goods and services Chapter 1

  25. Product/Service Management • designing, developing, maintaining, improving and acquiring products or services to meet customer needs Chapter 1

  26. Promotion • using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome Chapter 1

  27. Selling • any direct and personal communication with customers to assess and satisfy their needs Chapter 1

  28. Financing • A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services. Chapter 1

  29. List and provide an example of each core standard of marketing. Chapter 1

  30. Lesson 1.2Sports Marketing Objectives • Define sports marketing. • Explain the value of sports marketing to the economy. • Define and calculate gross impression. Chapter 1

  31. Bell Work Chapter 1

  32. Terms • demographics • sports marketing • gross impression Chapter 1

  33. WHY SPORTS MARKETING? • demographics • common characteristics of a group • age, marital status, income, education • sports marketing • using sports to market products Chapter 1

  34. New Sports, New Opportunities • continual innovation provides new opportunities • extreme sports • new football league • Any others? Chapter 1

  35. 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 Chapter 1

  36. 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. Chapter 1

  37. Why are gross impression and timing important in sports marketing? Chapter 1

  38. THE VALUE OF SPORTS MARKETING • Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. Chapter 1

  39. Emotional Value • Emotional connections to teams motivate fans to buy tickets to games. Chapter 1

  40. So Many Channels • High profile sporting events generate strong promotional revenues for broadcasters. Chapter 1

  41. Name three ways that sporting events help boost the local economy and/or national economy. Chapter 1

  42. Lesson 1.3Entertainment Marketing Goals • Define entertainment. • Describe the impacts of advances in entertainment technology on entertainment marketing. Chapter 1

  43. Terms • entertainment marketing • entertainment • ratings Chapter 1

  44. ENTERTAINMENT FOR SALE • entertainment marketing • influencing how people choose to spend their time and money on entertainment Chapter 1

  45. What Exactly is Entertainment? • entertainment • whatever people are willing to spend their money and spare time viewing rather than participating in Chapter 1

  46. What are the two ways of looking at entertainment marketing? Chapter 1

  47. 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. Chapter 1

  48. The Beginning of Change • Disneyland represented a new approach to the marketing mix of entertainment. Chapter 1

  49. 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 Chapter 1

  50. Change Accelerated • Technology improvements, including the internet, have facilitated distribution of sports and entertainment to the masses. Chapter 1

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