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The Marketing Game Plan

6. The Marketing Game Plan. 6.1 The Game Plan 6.2 Entertainment and Sports Strategies 6.3 Mapping the Plan. Winning Strategies. AEG. Anschutz Entertainment Group (AEG) is a key player in movie exhibition AEG dominates specific markets second largest promoter of live events in the U.S.

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The Marketing Game Plan

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  1. 6 The Marketing Game Plan 6.1 The Game Plan 6.2 Entertainment and Sports Strategies 6.3 Mapping the Plan

  2. Winning Strategies AEG • Anschutz Entertainment Group (AEG) is a key player in movie exhibition • AEG dominates specific markets • second largest promoter of live events in the U.S. • AEG sells more than $500 million in tickets annually Chapter 6

  3. Lesson 6.1The Game Plan Goals • Explain the difference between marketing tactics and strategies. • Discuss the importance of planning to stay ahead of the competition. Chapter 6

  4. Terms • tactic • strategies • marketing intelligence • trade shows Chapter 6

  5. MARKETING TACTICS • Nike wants to be number one in their market. • Nike needs to differentiate itself from Adidas, the market leader. Chapter 6

  6. Tactics First • tactic • the way a product or service is differentiated in the minds of customers from other competing products or services • the most effective tactics are developed by salespeople • tactics can work their way from salespeople to upper management Chapter 6

  7. Strategies • strategies • the process by which tactics are implemented Chapter 6

  8. What is the difference between a tactic and a strategy? Chapter 6

  9. BEATING THE COMPETITION • “Winning the game” in business means gaining market share over competitors and making a profit. • requires depth of competitive knowledge Chapter 6

  10. What Information is Needed? • marketing intelligence • information gathered about competitors Chapter 6

  11. Pricing • pricing is very important to customers • the prices of competitors can influence buying decisions Chapter 6

  12. Distribution • marketers need to make the product purchase convenient for customers Chapter 6

  13. Product/Service Management • knowing the product and service offerings of competitors can help a business determine how to differentiate its products Chapter 6

  14. Promotional Efforts • promotional competitive analysis reveals: • the product characteristics emphasized by competitors • target customers • promotional budgets Chapter 6

  15. Finding the Information • Marketing information is critical to help anticipate future moves of the competition. Chapter 6

  16. internet • efficient searching leads to effective results • company name • keywords Chapter 6

  17. observations • combining the insights of a variety of salespeople can provide valuable competitive information Chapter 6

  18. trade shows • major events where people in a related industry meet to • show their products • exchange ideas • learn about the latest trends • valuable source of competitive information Chapter 6

  19. customers • customer feedback is critical for fine tuning marketing plans • can provide competitive information Chapter 6

  20. Give three examples of marketing intelligence information that might be collected by a movie theater. Chapter 6

  21. Lesson 6.2Entertainment and Sports Strategies Goals • Explain the importance of learning from customers. • Discuss sports marketing strategies. • Discuss entertainment marketing strategies. Chapter 6

  22. Terms • marketing plan • interpretation • applied research • touchpoints Chapter 6

  23. DATA-DRIVEN DECISIONS • marketing plan • a document that describes the tactics and strategies that will be used to market the product or service Chapter 6

  24. raw data • the facts and recorded measures that have been gathered Chapter 6

  25. Interpretation • interpretation • explaining the information so that it has meaning • drawing conclusions that relate to the defined marketing research problem Chapter 6

  26. Applied Research • applied research • conducted to solve specific problems • touchpoints • the points at which the business makes contact with the customers • web site visits • e-mails • phone calls • advertisements • one-on-one sales pitches Chapter 6

  27. Explain what Peter Drucker’s definition of marketing means. Chapter 6

  28. SPORTS MARKETING STRATEGIES • Fans are necessary for the longevity of a team. • Using research to form the right tactics to attract fans is a challenge for teams. Chapter 6

  29. Fans Rule • Competition for fans is fierce. • Adidas and Nike have different tactics and strategies to compete for soccer fans. • Adidas provides soccer balls for the World Cup and promotes customizable soccer cleats. • Nike is filling a niche for street-ready soccer merchandise and is sponsoring a number of major international soccer teams. Chapter 6

  30. What drives professional sports teams’ marketing plans? Explain why. Chapter 6

  31. ENTERTAINMENT MARKETING STRATEGIES • The movie and music industries use many of the same strategies used in sports marketing to attract customers. • Determining the new tactic first and then figuring the strategies that will drive sales is the key. Chapter 6

  32. Capitalizing on Controversy • Sony carefully developed a tactic and a strategy for promoting The DaVinci Code. • provided a website for religious dialogue • avoided overexposure prior to the movie’s release Chapter 6

  33. Concert Pricing Strategies • Indoor concerts are more economical to produce than outdoor concerts. • A smaller indoor concert may be more profitable than a larger outdoor concert. Chapter 6

  34. Industry consolidation has lead to decreased competition. • Declining profits are prompting concert promoters to re-evaluate pricing strategies. Chapter 6

  35. A Little Music with Your Coffee? • Starbuck’s Entertainment • connects Starbuck’s brand with entertainment • By 2005, Starbucks sold 3.5 million CDs. Chapter 6

  36. Why would a coffee shop add entertainment items to its menu? Chapter 6

  37. Lesson 6.3Mapping the Plan Goals • Explain how marketers determine direction and focus for a marketing plan. • List and describe the components of a marketing plan. Chapter 6

  38. Terms • mission statement • mass market • product portfolio • test marketing Chapter 6

  39. KNOW WHERE YOU ARE HEADED • mission statement • identifies the nature of the business and the reason it exists • All tactics and strategies should be built around the mission statement. Chapter 6

  40. A Sense of Direction • mass market • a broad group of customers Chapter 6

  41. product portfolio • all the products a company has available at any one time • test marketing • where the sales potential for a new product is tried in a small market prior to its final release Chapter 6

  42. Explain the importance of a company’s mission statement to the marketing plan. Chapter 6

  43. THE PLAN • The marketing plan is a detailed document that further provides a detailed description of how the tactics and strategies will be implemented. Chapter 6

  44. Components of a Marketing Plan • A marketing plan should be guided by the current and future needs of customers. Chapter 6

  45. Analysis • The Mission Statement • The marketing plan must be in agreement with the mission statement. • Marketing Information • Information is gathered, analyzed, interpreted and used to make business decisions. Chapter 6

  46. The Tactic • describes product or service differentiation • should pinpoint a gap that is not be filled by another product or service Chapter 6

  47. Strategy • describes the marketing mix • Product/Service • the identified need is the basis for the development of the product or service Chapter 6

  48. The Distribution System • describes how the product or service will be made available to customers Chapter 6

  49. Pricing • The price must be set where revenues will be maximized to cover all costs and provide a profit. Chapter 6

  50. Promotional Strategies • how the product will be positioned in the minds of customers • advertising • publicity • sales promotion • personal selling Chapter 6

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