Key Marketing Functions Sports and Entertainment Marketing

Product/Service Management Designing, developing, maintaining, improving, and acquiring p/s so they meet customer needs Ex: Fisher Price tests new toys w/ children and parents

Distribution Determining the best way to get a company’s p/s to customers Ex: Sony sells their products through electronic retailers like Circuit City

Selling Includes direct and personal communication with customers to assess and satisfy their needs Must also anticipate their future needs Ex: Singers spend months touring and traveling to sell their CD

Marketing-Information Management Gathering and using information about customers to improve business decision making Ex: Domino’s expanding to Japan. Used Market research to adapt the traditional Domino’s pizza to Japanese tastes. Made pizza’s smaller for a snack not a meal. Also offer non-traditional toppings.

Financing Requires a company not only to budget for its own marketing activities Also provides customers with assistance in paying for the company’s p/s Ex: General Motors offers loans to customers through its GMAC division.

Pricing The process of establishing and communicating the value or cost of goods and services to customers Ex: Ticket pricing for professional sports events are high because demand is high

Promotion Using advertising and other forms of communicating info about products, services, images, and ideas to achieve a desired outcome Ex: Coupons on backs of ticket stubs. Used to promote p/s and to entice fans into trying them at a discounted price

7 Key Functions Basis of all marketing activities Refer to them often Everything you learn will involve one of these functions Responsibility of all marketers