Sports & Entertainment Marketing Mrs. Wilson Sports & Entertainment Mktg. Rocky Point HS

Definition of Marketing developing, promoting, and distributing products Marketing is the process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants. Marketing Mix Known as the Marketing Mix.

Seven Key Functions

What ARE the products? Goods Car Food Home Clothes Services Hospital TV Repair Auto Mechanics Carpet Cleaning Ideas Internet Training Computers Printed Materials

Short Definition of Marketing “The promotion of goods, services, and ideas.”

The Four Ps of Marketing Product Place Price Promotion

Product Goods, Services, or Ideas Research: –Defining Target Markets –Product Design or Content –Quantities Quality: Standard/Deluxe Guarantees or Warranties Any goods, services, or ideas that we wish to sell.

Place Distribution Storage & Warehousing Transporting Distribution is getting the right product to the right place at the right time in the right amount and in the right condition. (For example: You don’t want parkas delivered to a service station in Las Vegas!)

Channels of Distribution Channels of Distribution The path a product takes from the producer to the consumer. Direct –Manufacturer To –Consumer Indirect –Manufacturer To –Retailer To –Comsumer

Price Costs: –Production –Wholesale –Retail Compare to Competition Profit Margin Value Determining a dollar amount at which we can sell the product.

Promotion Packaging Advertising Personal Selling Sales Promotion: –Coupons, Discounts Making potential customers aware of a product in a positive way so they will want to buy it.

Target Market A specific group of consumers that an organization selects as the focus of its marketing plan.

Needs vs. Wants Needs occur when people experience a lack of basic necessities such as food, clothing, or shelter. Wants are things that people desire. Ex. Getting thirsty is a need-- Desiring Gatorade is a want!

Demographics Statistics that describe a population in terms of personal characteristics. –Age –Income –Occupation –Gender –Ethnic background –Educational levels

Did you know? 1/3 Jobs Cornerstone Entrepreneurship Exciting Work With People Transferable Skills 25% Growth in USA

Advertising Customer Service e-Commerce Entrepreneur Fashion Merchandising Financial Services Food Marketing Hospitality Marketing Importing/Exporting International Marketing Marketing Research Product Management Professional Sales Public Relations Real Estate Restaurant Management Retail Management Sales Management Service Marketing Sports Marketing Travel/Tourism Marketing