Sports and Entertainment Marketing The Marketing Mix

Product Complex blending of tangible and intangible parts tangible parts-physical features that can be seen and felt intangible parts-nonphysical service features Tangible products in the entertainment industry include souvenir shirts at a concert and front-row seats. Intangible parts would include the autograph from the famous musician.

Product Mix Product’s final form and total assorted features (brand, name, various products offered under the brand, and packaging) Many people purchase products based upon the brand. Nike, Adidas, and New Balance are examples of popular athletic brands. Packaging may influence the purchase decision. Soft drinks are offered in a wide array of bottles and cans.

Product Extension Items added to a product to make it more attractive to the target market, including guarantees, warranties, and instructional information Product extension includes added features. Professional baseball teams may sell tickets that include all you can eat during the game. A new car may have a special warranty for the first 50,000 miles.

Basic vs. Enhanced Product Athletic shoes are a basic product constructed for support and safety to avoid injuries during sports. Cross-trainer shoes are enhanced running shoes that are good for walking, hiking, running, biking, and other amateur sports Basic products serve a basic need and cost less than an enhanced product. The enhanced product is specialized to meet special needs of the consumer. Running shoes are constructed to avoid injury.

Basic vs. Enhanced Product Basic seating may be the bleacher seats in the end zone with no back supports. Product enhancements would include individual seats with back supports located on the 50-yard line and seats located in an air-conditioned suite or sky box. Enhanced seating at a football game means more comfort for a greater price.

Product Line Group of similar products with slight variations to satisfy different needs of consumers. Soft drinks (regular, caffeine free, diet) Television sets from 5-inch screens to 60-inch screens Travel packages ranging from weekend getaways to vacations that last a week or longer The product line offers a wide array of flavors, styles, sizes, and appearances to appeal to a larger market.

Packaging Ease of use Safety Consumer attraction Accessibility Environmental friendliness Packages must be easy to open and safe. Environmental friendliness is also an important consideration.

Brand Name, symbol, word, design, or combination of these elements that identifies a product, service, or company Trademark-the legal protection of words and symbols used by a company Licensed brand-well-known name and/or symbol established by one company and sold for use by another company to promote its products Ask students to give brands of cars, sporting goods, hotels, etc. Then ask students to list characteristics of each of the brands they have listed.

Levels of Brand Recognition Non-recognition Rejection Recognition Preference Insistence Brands go from non recognition to insistence by the consumer. Rejection involves purposely not using a product. Recognition involves introduction to the product and preference means the consumers gives the product higher priority than the competing products. Insistence means addiction to the product or must have it.

The Product Life Cycle Introduction Stage Growth Stage Maturity Stage Decline Stage Challenges exist during each stage of the product life cycle. Introduction is focused on getting the word out. Growth stage involves the excitement of growing sales due to promotions. Maturity stage is the peak; however, competitors also want a piece of the action. During the decline stage tough decisions must be made about the future of the product.

Positioning a Product Differentiating the company’s products or services from its competitors’ products or services Involves status, price, brand recognition, and other factors Making comparisons to the competition to point out differences in the products Celebrity endorsements (NIKE-Michael Jordan) Positioning is all about proving the superiority of your product. Your product must stack up better against the competition.