Similarities in Marketing

 To explain how sports and entertainment marketers use tools to sell their products Objective

4 P’s  Sports and Entertainment marketed differently than traditional products  4 P’s  Product  Place  Price  Promotion

Product 1.Core product – main product, such as the sports event, movie, stage show, or book

Product (continued) 2.Ancillary product – product related to or created to the core product

Place  Popular to attend live events  Fans then like to purchase products related to events or show, which can be on the internet or retail outlet

Price  Prices have risen steadily for the past 10 years in the sports and entertainment world  Corporation involvement  Luxury suites

Price (continued)  Problems that can affect price  Strikes  Piracy – unauthorized use of an owner’s intellectual property  Royalty – payment for material that has been copyrighted

Promotion  Product tie-ins – use of ancillary products such as merchandise as promotional tools  Cross-promotion – any form of communication through which one industry relies on another to promote its product

Convergence  Convergence – overlapping of product promotion  Tv ads to promote a movie that one day will be sold to tv  Website is used to promote event and to sell merchandise

Synergy  Synergy – a combined action that occurs when products owned by one source promote the growth of related products