Sports and Entertainment Marketing Chapter 1 What is Sports and Entertainment Marketing?
<ul><li><p>Sports and Entertainment MarketingChapter 1What is Sports and Entertainment Marketing?</p></li><li><p>Chapter 1.1Marketing Basics</p></li><li><p>What is Marketing?Planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectivesPut SimplyCreate a ProductMarket the product for as long as it existsMeet the needs of your customersA mutually beneficial exchange relationship existsCustomers give money, businesses give a produt</p></li><li><p>The Marketing MixDefines how a business will go about a marketing planBlends the 4 Ps of MarketingProductDistribution (Place)PricePromotion</p></li><li><p>ProductWhat a business offers customers to satisfy needsCan be a product such as basketball shoesCan be a service like video rentalsMarket First vs. Product FirstCan you think of an example of each?DVD BurnersMarket FirstSinging Wide Mouth Bass product firstWhich is a more sound business practice?</p></li><li><p>Distribution (Place)Locations and methods used to make products available to customers.What are a few of these methods?DirectDell, Gateway, InternetAmazon.comIndirectDepartment Stores, Grocery StoresCatalogueEastbayWhat are some advantages of each of these?</p></li><li><p>PriceThe amount customers pay in exchange for your product or serviceWhat happens ifPrice too low?Price too high?What are a few things that keep price levels fair?Anti-trust lawsCompetitionTechnology..more efficient production methods</p></li><li><p>PromotionWays to encourage customers to purchase products and increase customer satisfactionCan includeAdvertisingPublicityPersonal SellingPublic Relations</p></li><li><p>Key Marketing FunctionsPage 6 in TextProduct/Service ManagementDistributionSellingMarketing-Information ManagementFinancingPricingPromotion</p></li><li><p>Chapter 1.2What is Sports Marketing</p></li><li><p>What is Sports Marketing?Opening Act (pg. 9) discussionSpectators of sporting events are potential consumers of a wide array of products; examples????Definition -- finding out customer interests and planning a good or service that they will buy, using sports to market the product</p></li><li><p> What is a target market?Specific Group of people you want to reachHow do you find a target market -- demographic researchAge, education level, attitudes/beliefs, income(disposable)People buy because of past experience, referral by family/friends, id with an attitude; what else????</p><p>The Target Market</p></li><li><p>Spending Habits of FansResearch these habits to maximize profits on items purchased at sporting eventsPrice willing to pay for a ticketdepends on interests, national importance of event, popularity of athletes, rivalry, etc.What affects price your willing to pay for team merchandise?</p></li><li><p>Marketing StrategiesIn order to be competitive today, companies need to stay aheadUse creative promotion to attract attentionOther strategiesLogos on clothingCreating New SportsX GamesGross ImpressionTiming</p></li><li><p> Gross impression -- number of times per advertisement, game, or show that a product is associated with an athlete, team, or entertainer (subtle)logos on uniformsbrands used on tv, movies, etc.Motorola Headsets during NFL gamesTimingfans want to id with a winnerstreakscontinued winning recordstrends must be monitoredmarketing needs to be unique</p><p>Marketing Strategies</p></li><li><p>Chapter 1.3Entertainment Marketing</p></li><li><p>Entertainment For SaleWe all have a limited amount of free time and disposable incomeEntertainment Marketing is aimed at getting us to spend both of the above in specific places</p></li><li><p>What is Entertainment?Whatever people are willing to spend their time and money viewing instead of participating inMovies, the Arts, Sporting Events, TV, etc..Our personalities will control what we feel is entertaining</p></li><li><p>Modern Entertainment MarketingEarly 1900s- Theater, Concerts, Ballet were the major forms of entertainmentThe only forms of marketing were posters, newspapers, magazines, and word of mouth1927- First movie with sound in the USThe Jazz Singer1928- Mickey Mouse is animated10 years later, Snow White is first full length animated movie1955- DisneyLand opens in California</p></li><li><p>Change Accelerated Technology has contributed to the explosion of Entertaiment MarketingRadio, TV, Internet, Billboards, Busses, Taxis, Corporate Sports Stadiums (United Center)The Big Eye in Every RoomTelevision provided access to the homes of consumersIn 1945, only 9 stations and 7,000 working TV sets in the USAmerican Association of Advertising formed1946- NBC and Gillette stage first major sports eventHeavyweight Boxing.considered a Major success because 150,000 people watched!!</p></li><li><p>TVs Influence on MarketingTV added Real Life..sound and movement to marketingThe Rate for TV ads became tied to the number of viewers a program attractedBy 1996, 223 Million TV sets in the USAdvertisers spent $42.5 Billion on television ads in 1996</p></li><li><p>Chapter 1.4Recreation Marketing</p></li><li><p>Recreational SportsAimed at steering consumers away from home based entertainmentGolf, Tennis, Hiking, Bowling, etc..Travel and Tourism also considered recreational activitiesRecreation is defined as: Renewing or Rejuvenating your mind and body with play or amusing activityRecreational Activities: those involved with travel, tourism, and amateur sports not associated with an educational institution</p></li><li><p>Not for the Couch PotatoMany Rec. Sports require an investment of both time and moneyNeed to purchase equipment, join leagues, practice, etcWhat recreational activities are popular amongTeens30s60s</p></li><li><p>A Better ImageWant to Go Bowling???Most Popular Rec sport in US55 mil people bowled during 1997Most will watch bowing on TVHuge market for advertisersThe sport lacks excitement and youthTiger Woods credited with saving golf</p></li><li><p>Travel and TourismThe worlds largest industryEmploys 130 Mil people worldwideDefined as traveling for pleasure, either independently or Tour-basedVacations, honeymoons, family reunions (most given reason for traveling), etc.Data MiningGathering information about customersWhen, where, and how people travelCan gear promotions and advertising around the data</p></li><li><p>Niche TravelTraveling or touring for a specific reasonVisiting all the Museums in EuropeTouring National Parks in the USVisiting all Baseball stadiums in the summerSpring Break Packages for studentsPackages/Tours are put together to meet the needs of its clients</p></li></ul>