Marketing Mix – Product Element

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Presentation transcript:

Marketing Mix – Product Element

Products are one of the essential components of the marketing mix.

Types of Sports Products Sports products can be goods, services or ideas related to sports that provide satisfaction to the consumer. Sports and sporting events can be classified into several categories including: amateur sports (e.g., youth leagues) high school sports college and university sports professional sports international sporting events extreme sports

Types of Entertainment Products Similarly, there are many forms of entertainment products that entertain the consumers: Film & cinema Television Music (recorded music, concerts & shows) Radio Video Games Theme Parks Festivals & events Publications (newspaper, magazines & books)

Marketing professionals have unlimited products to offer to almost any target market. New and emerging sports and entertainment products keep the marketplace in a constant state of competition and evolution. Within the many sports and entertainment products, many organizations may focus an specific niche markets. Niche marketing is a type of marketing that focuses on a small target market of consumers who have very similar interests in an area/event/sport that is not being addressed by mainstream providers.

What is a Product Mix? Every product is a complex blending of features referred to as the product mix. The assortment of features, the brand name, the various products offered under the brand, and the packaging are all a part of the product mix.

What are Product Enhancements/Extensions? All of these sports and entertainment basic products have product extensions/enhancements to complement the core product. Product Extension/Enhancements – Target markets have an identified need for a basic product. Product enhancements are features added to the basic product that satisfy additional needs and wants with the same purchase.

Examples: A Super Bowl football game is a core, or main sports product. From that one event, product extensions develop, and sports consumers purchase them. Super Bowl programs, videos, statistics in the news, related television programs, and t-shirts are all product extensions of the core product.

Seating at a football game may be the bleacher seats in the end zone with no back supports. Product enhancements would include individual seats located on the 50-yard line or seats located in an air-conditioned corporate box offering food service and other special comforts.