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What is Marketing? – The process of developing, promoting,
and distributing products and services to satisfy customers’ needs and wants.
Developing – studying customers to determine their wants & needs.
Promotional Activities Educate customers: Free samples of new chips
at Wal-mart Create Interest/Desire: Movie Trailers Make a Sale: Buy one get one free; 10% off
Distributing – Where are items sold? Store, online, phone
Self-Sufficient –People did not rely on others to meet their needs.
Bartering –Exchanging products or services
Specialization of Labor- Do what your good at and focus on that.
Money System Central Markets – Place where people
could buy and sell products.
Development of Marketing Marketing was not always a primary concern of
businesses due to: Lack of technology Lack of transportation)
Advanced Technology + Improved Transportation =
Competition What do we have to do to get people to buy from
us???? Implement the Marketing Concept
Focusing on the needs of customers during the development and promotion of a product.
Target Market – A specific group of consumers that an organization selects as the focus of its marketing mix.
• Transfer of something, tangible or intangible, between two or more parties.
Product Price Place Promotion
Products that a professional sports franchise markets: Team – players, name, Experience – buying a ticket, going to game Merchandise – featuring team logo, colors,
name Food, beverages Sponsorships
How does a team “place” the products they offer? Advertising with newspapers, TV, radio Merchandise in retail locations, games and
online
What role price play in Marketing: Pricing plans for radio and TV broadcasters to
broadcast games Ticket pricing plan Merchandise
How is a product promoted: Advertising in newspaper, TV, radio Sponsoring events at the arena/stadium Participating in events (All-star games, Super
Bowl) Internet Press Releases