Entertainment Marketing. Types of Entertainment Businesses. 1. Chapter Objectives. Define entertainment marketing. Identify different types of entertainment media. Explain the economics of entertainment marketing. Discuss the global impact of entertainment marketing.
Types of Entertainment Businesses
Throughout history and around the world, people have enjoyed _______, ______, ________, _____, and other forms of diversion.
Television is one means used for entertainment marketing.
Other forms of entertainment include:
The companies that control the media influence how the public is entertained.
The clothing we wear, hairstyles, and style in general are influenced by entertainment marketing.
Many products or services influenced by entertainment are fads.
Movie and TV studios are constantly striving to anticipate customer wants and needs and provide what the public wants.
Entertainment usually has a short “_____ ____.”
The marketer must cover costs and make a profit _____________.
Entertainment marketing relies on meeting consumer demand for _________ and _________ at a price the customer is willing to pay.
Shoppers can afford to buy only a limited amount of product before __________ their budgets.
The ___________ and sports businesses thrive on getting people to spend their discretionary ______.
Merchandising is a big part of the entertainment industry.
Businesses use cross-selling to increase profits
Around the world, people spend money as Americans do when it comes to leisure time.
Entertainment products are one of America’s strongest exports.
Most businesses that produce ___________ for consumers are large corporations with many _____________ and employees.
Most of these businesses started out as single ____________ or ______________.
The major entertainment companies are:
These companies are structured using vertical distribution.
Films are released by distributors—usually the studio or a related company—and shown by theaters, or exhibitors, to the public.
Four out of ten films produced may not break even.
A few large studios make up the core of the film business, which is considered an oligopoly.
Independent movie companies called indies operate on their own to make films.
Television is the number one entertainment medium for many Americans.
The producers of shows are not necessarily distributors.
An independent TV station may decide to become an affiliate.
Ratings are a type of market research that determines if a program stays on the television schedule or is dropped.
The most famous ratings company is Nielsen Media Research.
Advertising time can be split between national ads and local ads.
Prime time is the most expensive advertising time.
Niche marketing has expanded in television marketing with the number of cable stations.
Shopping on the Internet has not replaced the brick-and-mortar store.
The growth of the video and computer game industry has been steady and expansive.
Other entertainment businesses include:
Types of Entertainment Businesses
It is the process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants through entertainment, or any diversion, amusement, or methods occupying time.
Types of media include film, television, radio, recorded music, print media such as newspapers and books, the Internet, and more.
Answers may vary:Checking Concepts
Define entertainment marketing.
Identify types of media.
Name two consumer products that are influenced by entertainment.
The cost of producing films is so high that sometimes expenses are greater than income.
It is a business situation in which a few firms affect but do not control an industry.
Types of entertainment industry businesses include film, TV, radio, music, theme park, Internet, computer-game, and performing arts businesses. Other answers are possible.Checking Concepts
Identify types of entertainment industry businesses.
Describe an oligopoly.
Explain why many films produced do not break even.