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Sports Marketing

Sports Marketing. What is the Marketing Mix?. Objectives. Define marketing. Explain the marketing concept. Explain the marketing mix. Create a marketing plan using the marketing mix. Marketing Defined. Because of competition, an organized marketing plan is essential.

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Sports Marketing

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  1. Sports Marketing What is the Marketing Mix?

  2. Objectives • Define marketing. • Explain the marketing concept. • Explain the marketing mix. • Create a marketing plan using the marketing mix.

  3. Marketing Defined Because of competition, an organized marketing plan is essential. marketingthe process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants Goods are tangible items, such as sports equipment. Services are intangible products, such as theater tickets.

  4. Marketing Defined Organizations spend lots of money to learn about their customers needs and wants. needsa lack of basic necessities such as food, clothing, or shelter wantsthings that people desire based on personality, experiences, or information about a product Having a clear picture about the target market makes developing a marketing plan easier to accomplish. target marketspecific group of consumers that an organization selects as the focus of its marketing plan

  5. The Marketing Mix marketing mixa combination of four basic strategies known as the 4 Ps—product, price, place, and promotion Marketers use a tool to develop strategies called the marketing mix. To be effective, all 4 Ps in a marketing plan must focus on the target market.

  6. ProductDecisions involve the goods, services, or ideas used to satisfy consumer needs. PriceDecisions involve the exchange process between the customer and the seller. PlaceDecisions involve making the product available to the customer. PromotionDecisions involve how the goods or services are communicated to the consumer. The Marketing Mix—The Four Ps P P P P

  7. Review- On Your Own… What do you think is the least important component of the marketing mix? Why? Name one example of a sports team or company that uses one aspect of the marketing mix toward a specific target market. Ex: The Philadelphia Phillies have “Bobble Head” night for kids under 14. Targeting younger children who need to come with parents to baseball games. This would be under the “Promotion” aspect of the marketing mix. 1. 2. 7

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