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Chapter 1 What Is Sports and Entertainment Marketing? 1. 1 Marketing Basics 1. 2 Chapter 1 What Is Sports and Entertainment Marketing? 1. 1 Marketing Basics 1. 2 Sports Marketing 1. 3 Entertainment Marketing Sports and Entertainment Marketing © Thomson/South-Western

Winning Strategies From $50 to $4 Million n A determined athlete n A supportive Winning Strategies From $50 to $4 Million n A determined athlete n A supportive family Chapter 1 Slide 2 Sports and Entertainment Marketing © Thomson/South-Western

Lesson 1. 1 Marketing Basics Goals n Describe the basic concepts of marketing. n Lesson 1. 1 Marketing Basics Goals n Describe the basic concepts of marketing. n Explain the marketing mix. n Define the six core standards of marketing. Chapter 1 Slide 3 Sports and Entertainment Marketing © Thomson/South-Western

Terms n n n n marketing mix product distribution price promotion discretionary income Chapter Terms n n n n marketing mix product distribution price promotion discretionary income Chapter 1 Slide 4 Sports and Entertainment Marketing © Thomson/South-Western

WHAT IS MARKETING? n marketing n the creation (product development)and maintenance (marketing must occur WHAT IS MARKETING? n marketing n the creation (product development)and maintenance (marketing must occur as long as business operates) of satisfying (meet needs of businesses & consumers) exchange relationships (both parties giving & receiving something of value) Chapter 1 Slide 5 Sports and Entertainment Marketing © Thomson/South-Western

Three Activities involved in Satisfying Customer Needs n Identify your customer and the needs Three Activities involved in Satisfying Customer Needs n Identify your customer and the needs of your customer. Ex. Today’s college students need a laptop n Develop superior products. Ex. Develop a light weight top of the line touch screen laptop n Operate your business profitably. Revenues must exceed cost (materials, marketing, etc. ) Chapter 1 Slide 6 Sports and Entertainment Marketing © Thomson/South-Western

Sports and Entertainment Marketing n Marketers of sports and entertainment marketing must assess n Sports and Entertainment Marketing n Marketers of sports and entertainment marketing must assess n consumer demand n the competition n the financial valuation of the goods and services they offer Chapter 1 Slide 7 Sports and Entertainment Marketing © Thomson/South-Western

n What is marketing? Chapter 1 Slide 8 Sports and Entertainment Marketing © Thomson/South-Western n What is marketing? Chapter 1 Slide 8 Sports and Entertainment Marketing © Thomson/South-Western

THE MARKETING MIX n marketing mix n how a business blends the following four THE MARKETING MIX n marketing mix n how a business blends the following four elements n n Chapter 1 Slide 9 product distribution price promotion Sports and Entertainment Marketing © Thomson/South-Western

n product n what a business offers to satisfy needs n goods and services n product n what a business offers to satisfy needs n goods and services n distribution n the locations and methods used to make products available to customers. Ex. Online or in a retail store n price n amount customers pay for products. Ex. High price for new trendy products n promotion n ways to make customers aware of products n encourages customers to buy Chapter 1 Slide 10 Sports and Entertainment Marketing © Thomson/South-Western

Marketing Mix Considerations n discretionary income n the amount of money individuals have available Marketing Mix Considerations n discretionary income n the amount of money individuals have available to spend after paying for necessities n Striking the right balance between price, distribution and promotion is important. Chapter 1 Slide 11 Sports and Entertainment Marketing © Thomson/South-Western

A Marketing Mix Example in the Sports Industry n The product the Super Bowl A Marketing Mix Example in the Sports Industry n The product the Super Bowl offers is a game between the best teams of the AFC and NFC. n Consumer costs extend beyond ticket prices and include travel and lodging expenses. n Distribution includes the location of the host city and ticket sales. n Promotion involves media outlets and related-product contests. Chapter 1 Slide 12 Sports and Entertainment Marketing © Thomson/South-Western

A Marketing Mix Example in the Entertainment Industry n State fairs need to n A Marketing Mix Example in the Entertainment Industry n State fairs need to n n n appeal to rural and urban residents set reasonable ticket prices advertise about the fair determine fair location plan ticket sales Chapter 1 Slide 13 Sports and Entertainment Marketing © Thomson/South-Western

n What are the elements of the marketing mix? Chapter 1 Slide 14 Sports n What are the elements of the marketing mix? Chapter 1 Slide 14 Sports and Entertainment Marketing © Thomson/South-Western

CORE STANDARDS OF MARKETING Chapter 1 Slide 15 Sports and Entertainment Marketing © Thomson/South-Western CORE STANDARDS OF MARKETING Chapter 1 Slide 15 Sports and Entertainment Marketing © Thomson/South-Western

n Distribution involves determining the best way to get a company’s products and services n Distribution involves determining the best way to get a company’s products and services to customers. Chapter 1 Slide 16 Sports and Entertainment Marketing © Thomson/South-Western

n Marketing-Information Management n gathering and using information about customers to improve business decision n Marketing-Information Management n gathering and using information about customers to improve business decision making n Conducting interviews, focus groups, surveys, etc Chapter 1 Slide 17 Sports and Entertainment Marketing © Thomson/South-Western

n Pricing n the process of establishing and communicating to customers the value or n Pricing n the process of establishing and communicating to customers the value or costs of goods and services Chapter 1 Slide 18 Sports and Entertainment Marketing © Thomson/South-Western

n Product/Service Management n designing, developing, maintaining, improving and acquiring products or services to n Product/Service Management n designing, developing, maintaining, improving and acquiring products or services to meet customer needs Chapter 1 Slide 19 Sports and Entertainment Marketing © Thomson/South-Western

n Promotion n using a variety of communication forms, including advertising, to distribute information n Promotion n using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome Chapter 1 Slide 20 Sports and Entertainment Marketing © Thomson/South-Western

n Selling n any direct and personal communication with customers to assess and satisfy n Selling n any direct and personal communication with customers to assess and satisfy their needs Chapter 1 Slide 21 Sports and Entertainment Marketing © Thomson/South-Western

n List and provide an example of each core standard of marketing. Chapter 1 n List and provide an example of each core standard of marketing. Chapter 1 Slide 22 Sports and Entertainment Marketing © Thomson/South-Western

n Financing n A company must budget for its own marketing activities and provide n Financing n A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services. n Not a core standard but closely related Chapter 1 Slide 23 Sports and Entertainment Marketing © Thomson/South-Western

Lesson 1. 2 Sports Marketing Goals n Define sports marketing. n Explain the value Lesson 1. 2 Sports Marketing Goals n Define sports marketing. n Explain the value of sports marketing to the economy. Chapter 1 Slide 24 Sports and Entertainment Marketing © Thomson/South-Western

Terms n demographics n sports marketing n gross impression Chapter 1 Slide 25 Sports Terms n demographics n sports marketing n gross impression Chapter 1 Slide 25 Sports and Entertainment Marketing © Thomson/South-Western

WHY SPORTS MARKETING? n demographics n common characteristics of a group n age, marital WHY SPORTS MARKETING? n demographics n common characteristics of a group n age, marital status, income, education n sports marketing n using sports to market products n Ex. Nike logo on football uniforms Chapter 1 Slide 26 Sports and Entertainment Marketing © Thomson/South-Western

New Sports, New Opportunities n continual innovation provides new opportunities n extreme sports n New Sports, New Opportunities n continual innovation provides new opportunities n extreme sports n arena football Chapter 1 Slide 27 Sports and Entertainment Marketing © Thomson/South-Western

Gross Impression n gross impression n the number of times per advertisement, game, or Gross Impression n gross impression n the number of times per advertisement, game, or show that a product or service is associated with an athlete, team or entertainer n Every time you see a product or logo in a movie, sporting event, etc your brain records the image n Ex. Wonderful Pistachio Super Bowl Ad Chapter 1 Slide 28 Sports and Entertainment Marketing © Thomson/South-Western

Timing n Fans want products and services that identify them with winning teams and Timing n Fans want products and services that identify them with winning teams and athletes. Ex. “riding the bandwagon” n Marketing efforts may need to be tweaked based on changes in winning trends. Ex. Sales when teams not doing well Chapter 1 Slide 29 Sports and Entertainment Marketing © Thomson/South-Western

n Why are gross impression and timing important in sports marketing? Chapter 1 Slide n Why are gross impression and timing important in sports marketing? Chapter 1 Slide 30 Sports and Entertainment Marketing © Thomson/South-Western

THE VALUE OF SPORTS MARKETING n Sports marketing is a multi-billion-dollar global industry that THE VALUE OF SPORTS MARKETING n Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. n Created job opportunities from parking lot attendants to sports teams marketing executives n Emotional value - connections to teams motivate fans to buy tickets to games Chapter 1 Slide 31 Sports and Entertainment Marketing © Thomson/South-Western

So Many Channels n High profile sporting events generate large revenues when TV networks So Many Channels n High profile sporting events generate large revenues when TV networks pay for exclusive rights to game. Ex. Comcast & Phillies n Marketers must create marketing strategies to appeal to largest number or viewers to beat out the competition of todays reality shows n High-paying promoters pay large sums to advertise during major sporting events like Super Bowl Chapter 1 Slide 32 Sports and Entertainment Marketing © Thomson/South-Western

n Name three ways that sporting events help boost the local economy and/or national n Name three ways that sporting events help boost the local economy and/or national economy. Chapter 1 Slide 33 Sports and Entertainment Marketing © Thomson/South-Western

Lesson 1. 3 Entertainment Marketing Goals n Define entertainment. n Describe the impacts of Lesson 1. 3 Entertainment Marketing Goals n Define entertainment. n Describe the impacts of advances in entertainment technology on entertainment marketing. Chapter 1 Slide 34 Sports and Entertainment Marketing © Thomson/South-Western

Terms n entertainment marketing n entertainment n ratings Chapter 1 Slide 35 Sports and Terms n entertainment marketing n entertainment n ratings Chapter 1 Slide 35 Sports and Entertainment Marketing © Thomson/South-Western

ENTERTAINMENT FOR SALE n entertainment marketing n influencing how people choose to spend their ENTERTAINMENT FOR SALE n entertainment marketing n influencing how people choose to spend their time and money on entertainment n First entertainment is looked at as a product to be marketed. n Ex. Pursuing people to buy game tickets n Second marketing is examined to see how it uses entertainment to attract attention to other products. n Ex. Singer or Actor appearing on a talk show to discuss new album or movie Chapter 1 Slide 36 Sports and Entertainment Marketing © Thomson/South-Western

What Exactly is Entertainment? n entertainment n whatever people are willing to spend their What Exactly is Entertainment? n entertainment n whatever people are willing to spend their money and spare time viewing rather than participating in Chapter 1 Slide 37 Sports and Entertainment Marketing © Thomson/South-Western

n What are the two ways of looking at entertainment marketing? Chapter 1 Slide n What are the two ways of looking at entertainment marketing? Chapter 1 Slide 38 Sports and Entertainment Marketing © Thomson/South-Western

EVOLUTION OF ENTERTAINMENT AND ENTERTAINMENT MARKETING n At the beginning of the twentieth century, EVOLUTION OF ENTERTAINMENT AND ENTERTAINMENT MARKETING n At the beginning of the twentieth century, audiences needed to travel to the entertainment source. n Audience feedback was instantaneous and live. Chapter 1 Slide 39 Sports and Entertainment Marketing © Thomson/South-Western

The Beginning of Change n Moving pictures began the trend of Technology distancing entertainers The Beginning of Change n Moving pictures began the trend of Technology distancing entertainers from their audiences. n Movie theaters were created in 1927 with the first movie with sound The Jazz Singer n Disneyland opened in 1955 and represented a new approach to the marketing mix of entertainment by introducing theme parks. n Scarce distribution channels Chapter 1 Slide 40 Sports and Entertainment Marketing © Thomson/South-Western

Television’s Increasing Influence n The Early Days of Television and Marketing n TV changed Television’s Increasing Influence n The Early Days of Television and Marketing n TV changed the marketing of entertainment in a profound way. n Oct. 1945 25, 000 went to Gimbel’s dept store in Phila. to watch first TV demonstration and the American Association of Advertising Agencies encouraged the start of TV advertising n Viewer were hooked by the audiovisuals on the 9 stations that existed n. Chapter 1 distribution channels and Entertainment Marketing Few Sports Slide 41 © Thomson/South-Western

Television’s Increasing Influence n 1946 NBC and the Gillette Company aired first televised sporting Television’s Increasing Influence n 1946 NBC and the Gillette Company aired first televised sporting event, a heavyweight boxing match. On average 30 people per TV set were watching on 5, 000 TV’s. n 98 stations were now available for viewing. n Ed Sullivan show set standard for marketing talent by promoting Elvis & the Beatles n Corporations began to buy time and produce advertisements. Pricing based on viewer ratings. The larger ratings = larger prices n Ratings - the number of viewers the programming attracted Chapter 1 Slide 42 Sports and Entertainment Marketing © Thomson/South-Western

Change Accelerated n Technology improvements, including the internet, have made distribution of sports and Change Accelerated n Technology improvements, including the internet, have made distribution of sports and entertainment to the masses much easier. n TV’s older form of distribution but competing by using Hi-def, etc. n Internet more common form of distribution Chapter 1 Slide 43 Sports and Entertainment Marketing © Thomson/South-Western

Technology and Customer Feedback n Audiences can use a variety of communication technologies to Technology and Customer Feedback n Audiences can use a variety of communication technologies to provide entertainment feedback. n Instant messages, emails, phone calls, social networks, etc Chapter 1 Slide 44 Sports and Entertainment Marketing © Thomson/South-Western

n Name a few benefits of television to marketers and advertisers. Chapter 1 Slide n Name a few benefits of television to marketers and advertisers. Chapter 1 Slide 45 Sports and Entertainment Marketing © Thomson/South-Western

PERFORMANCE INDICATORS EVALUATED n Communicate an appropriate advertising campaign through writing and speaking. n PERFORMANCE INDICATORS EVALUATED n Communicate an appropriate advertising campaign through writing and speaking. n Analyze relevant data to make recommendations for an appropriate plan of action. n Demonstrate critical thinking and problem-solving skills when creating the advertising campaign. Chapter 1 Slide 46 Sports and Entertainment Marketing © Thomson/South-Western

n Demonstrate teamwork to complete a group project. n Demonstrate advertising budgeting skills. Chapter n Demonstrate teamwork to complete a group project. n Demonstrate advertising budgeting skills. Chapter 1 Slide 47 Sports and Entertainment Marketing © Thomson/South-Western

THINK CRITICALLY 1. Why is an advertising campaign necessary to overcome the city’s previous THINK CRITICALLY 1. Why is an advertising campaign necessary to overcome the city’s previous reputation? 2. Give several examples of activities other than sporting events to attract customers downtown. 3. What is the advantage of having new condominiums in the downtown area? 4. Does the light rail system present an advantage for your advertising campaign? Explain your answer. Chapter 1 Slide 48 Sports and Entertainment Marketing © Thomson/South-Western