Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter What Is Sports and Entertainment Marketing? 1.1 Marketing Basics 1.2 Sports Marketing 1.3 Entertainment Marketing 1

Sports and Entertainment Marketing © Thomson/South-Western Sports Marketing Learning Targets: I can describe the basic concepts of marketing. I am able to explain the Marketing Mix. I can define the Six Core Standards of marketing.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 3 Key Terms: marketing marketing mix product distribution price promotion discretionary income

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 4 WHAT IS MARKETING? Marketing Process through which goods and services move from concept to the customer. It includes the coordination of four elements called the “4 P's of marketing”: (1)Product (2)Place or (Distribution) (3)Price (4)Promotion Simply stated Marketing is the creation and maintaining of a satisfying exchange.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 5 Continued… Creation – product/service development. Maintenance – it must be continuous. Satisfaction – meets the needs/wants of businesses and customers. Exchange – businesses and customers both give and receive something of value.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 6 Satisfying Customer Needs Identify your customer Identify needs/wants of your customer Develop superior products Operate your business profitably

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

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 8 THE MARKETING MIX Marketing Mix Describes how a business blends the following four elements: Product Distribution (Place) Price Promotion aka – the Four P’s of Marketing

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 9 what a business offers to satisfy needs/wants. goods and services Can be either tangible or intangible or both. Distribution (Place) the locations and methods used to make products available to customers. Ex: Online, mail order, Bricks-N-Mortar Product

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 10 amount customers pay for products. Amount that is listed on the price tag, ticket, bill, etc. Promotion ways to make customers aware of products. encourages customers to buy. Ex: advertising, publicity, personal selling, and public relations. Price

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 11 Marketing Mix Considerations Satisfying Customers Must satisfy customers needs/wants by 1.Offer what they want 2.Offer when they want it 3.Offer where they want it 4.Offer it at a price (affordable) they are willing to pay Discretionary / Disposable Income the amount of money individuals have available to spend after paying for necessities Striking the right balance between price, distribution and promotion is important.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 12 A Marketing Mix Example in the Sports Industry – Super Bowl Product a championship game offered by the NFL between the best in the AFC vs the best team in the NFC. Distribution includes the location of the host city and ticket sales. Price – consumer costs extend beyond ticket prices and include travel and lodging expenses. Promotion involves media outlets and related-product contests.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 13 In class Assignment / Bell Ringer / Exit Slip: Opening Act pg. 4 Work with a partner or work solo. Read – answer what it is asking. your answers to:

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 14

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 15 Michael Jordan - NIKE Bo Jackson - NIKE LeBron James – Beats by Dre Tiger Woods – NIKE Jeter, Woods and Federer - Gillette Barkley and Harden - Footlocker Wade and Barkley – T Mobile Michael Jordan - NIKE Johnny Football – Snickers

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 16 Read Page 9 & 10 Be ready to discuss tomorrow.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 17 CORE STANDARDS OF MARKETING

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 18 Distribution involves determining the best way to get a company’s products and services to customers. Examples: In stores, online, via mail order Distribution

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 19 gathering and using information about customers to improve business decision making. Example: Telemarketers calling you and asking you various questions. Marketing-Information Management

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 20 the process of establishing and communicating to customers the value or costs of goods and services. Price is typically linked to consumer demand. Pricing

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 21 designing, developing, maintaining, improving and acquiring products or services to meet customer needs. Examples: Sony comes out with bought out Product/Service Management

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 22 using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome. Examples: Sales ads, Commercials on TV. Promotion

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 23 any direct and personal communication with customers to assess and satisfy their needs now and in the future. Examples: Sales and customer service representatives. Progressive Insurance Best Buy Selling

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 24 A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services. Example: Note – customers are more likely to make a purchase when they have more than one payment option. Financing

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 25 In class Assignment / Bell Ringer / Exit Slip: ENCORE! pg.11 Read and Answer #3 Due (start of class) – 9/5/14 to –

Sports and Entertainment Marketing © Thomson/South-Western #3 Purchased Four Reds Tickets Financing – used credit card (had to pay in full), half-off deal Pricing – $24 per ticket (half-off face value) Promotion – REDS alert, newspaper PSM – updated customers on ½ half tickets Distribution – received by mail (could have picked them up at Will Call) Selling – from REDS ticket office MIM – had to give personal information (name, address, phone #) Chapter 1 Slide 26

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Flyers Basic rules for creating a successful Flyer - Be Readable –Utilize clear Fonts and Scripts –Utilize a short, Catch Phrase Informative –Answer: Who, What, When, Where or Date, Time, Location, Cost Eye Catching Design –utilize pictures and bright colors Call to Action –Go online, Call #, Text, Make Purchase, Sign Up 1929

1930

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Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 32 Lesson 1.2 Sports Marketing Learning Targets I can identify sports marketing strategies. I understand the importance of target markets.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 33 Terms Sports Marketing Target Market Demographics Gross Impression

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 34 WHY SPORTS MARKETING? Sports Marketing using sports to market products/services Target Market Specific group of people you want to reach (your “Target”) How do we identify (know) our market? By researching their Demographics Demographics Quantifiable statistics (data) of a given population….common characteristics of a specific group age, gender, location, income level, education level, ethnicity, home ownership, marital status

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 35 Gross Impression Marketing strategy used by businesses the number of times per advertisement, game, or show that a product or service is associated with an athlete, team or entertainer is shown.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 36 Timing Businesses musk act when Fans want products and services Teams Wins Addition of Popular Players Trends/Styles change Marketing efforts will change Winning/Losing Positive/Negative Press Trends/Styles change

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 37 Emotional Value connections to teams, players based on Tradition Family Where you live What you know (like/watch) Emotions - major factor in what consumers BUY, why they BUY and when they BUY.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 38 THE VALUE OF SPORTS MARKETING it is a multi-billion-dollar global industry Businesses know there is money to be made.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 39 New Sports Creates Opportunities for businesses to make money. Frisbee Golf Extreme Sports (X-Games) UFC Aero-ball Futsal FootGolf

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 40 So Many Channels High profile sporting events generate strong promotional revenues for broadcasters. Bowl Games Rivalry Games Preseason Tournaments Championship Games How many sports channels do you have? DIRECTV Fioptics (Cincinnati Bell) Dish Network Time Warner Cable

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 41 In class Assignment – 30pts: Read pages Page Answer questions 1-12, 14,16 and 17 Type your answers in Microsoft Word – Printout and turn in (place in your paper in your Class Bells Bend) before leaving class.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 42 Lesson 1.3 Entertainment Marketing Learning Targets I can define entertainment. I can explain the impact ratings has on marketing and sports teams.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 43 Terms entertainment marketing entertainment ratings

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 44 What Exactly is Entertainment? entertainment whatever people are willing to spend their money and spare time viewing rather than participating in. Watching NFL Sunday Ticket. Attending a concert at Riverbend. Attending a Camels Athletic event. Going to the movies.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 45 ENTERTAINMENT FOR SALE entertainment marketing influencing how people choose to spend their time and money on entertainment.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 46 The Big Eye in Every Room Television changed the marketing of entertainment in a profound way. Ratings Number of viewers the program attracted. Commercials Advertising spots purchased by businesses to promote their products/services during TV and Radio broadcasts. Note: Ratings is the main factor in pricing commercials.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 47 Change Accelerated Technology advancements/improvements have facilitated the distribution of sports and entertainment to the masses. Internet Blogs Steaming Smart Phones (iPhone, Galaxy, etc.) Note: technology has increased the success rate of reaching Target Markets.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 48 Technology and Customer Feedback Marketers, Teams and Fans utilize technologies to communicate. Web Sites Blogs Texting Facebook Twitter