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SPORTS AND ENTERTAINMENT MARKETING

SPORTS AND ENTERTAINMENT MARKETING. UNIT ONE MARKETING AND SPORTS & ENTERTAINMENT. Chapter 1—World of Marketing Basic principles of Marketing Demographics Marketing Mix Chapter 2—Connections and Contrasts History and Background Legal issues Business risks.

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SPORTS AND ENTERTAINMENT MARKETING

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  1. SPORTS AND ENTERTAINMENT MARKETING

  2. UNIT ONEMARKETING AND SPORTS & ENTERTAINMENT • Chapter 1—World of Marketing • Basic principles of Marketing • Demographics • Marketing Mix • Chapter 2—Connections and Contrasts • History and Background • Legal issues • Business risks

  3. FUNCTIONS OF MARKETINGUnit 1: Promotion, Product/Service Management, Distribution, Selling, Pricing, Marketing Information Management

  4. Chapter 1World of Marketing • The Importance of Sports and Entertainment Marketing • Two most profitable industries in U. S. • Billions of dollars spent each year • Main export of U. S. • Vendors compete for share of market

  5. Why is it important? • With so many businesses competing for attention, an organized marketing plan with strategies that target specific consumers is essential. • This is the foundation of sports and entertainmentmarketing.

  6. Marketing Defined • The process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants.

  7. MARKETING DEFINED • GOODS—TANGIBLES • SERVICES--INTANGIBLES

  8. MARKETING PROCESS • Developing— • study consumers to determine what they want • design products to satisfy wants and needs

  9. MARKETING PROCESS • PROMOTIONAL— • Educate consumers • Create interest and desire • Make a sale • Create an image for a company and its products • Newspapers, magazines, radio, TV, direct mail Internet advertising

  10. MARKETING PROCESS • DISTRIBUTION— • Means of getting the product into the consumers hands • Buying and selling • Sell directly to the customer • Intermediaries--wholesalers

  11. Marketing Concept • The idea that organizations need to satisfy their customers while also trying to reach their organizations’ goals • Focus on customers’ needs and wants

  12. MARKET • Identify the customer • Have the desire and ability to buy a product

  13. MARKET • NEEDS • WANTS

  14. MARKET • TARGET MARKET • a specific group of consumers that an organization selects as the focus of its marketing plan • makes developing marketing plan easier to accomplish

  15. MASS MARKETING vs. MARKET IDENTIFICATION • More common in 1950’s • One key message directed to everyone • More sophisticated • Availability of information and computer technology • Market research companies

  16. DEMOGRAPHICS • Statistics that describe a population in terms of personal characteristics • Age, income, occupation, gender, ethnic background, educational levels

  17. MARKETING MIX • 4 P’s

  18. MARKETING MIX • PRODUCT • Involve the goods, services, or ideas used to satisfy consumer needs • Designing, naming, and packaging a product

  19. MARKETING MIX • PRICE • Exchange process between customer and seller • How much should be charged? • How much does it cost to make? • Expenses related to marketing • What is the consumer willing to pay?

  20. MARKETING MIX • PLACE • Make the product available to the customer. • How and where does target market shop? • Channel of distribution—path a product takes from producer to consumer

  21. MARKETING MIX • PROMOTION • Communicated to the consumer • Advertising, sales promotion, publicity, personal selling • Selection of media as well as message to be delivered

  22. What items in this topic are similar to what we have already studied? • What words are new?

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