Entertainment Marketing Plan Entertainment Marketing: Education and Careers 2

Chapter Objectives Explain an entertainment marketing plan. Describe a business plan. Explain a promotional plan. Describe educational preparation for a career in marketing. Identify career areas in entertainment marketing. 3

The Importance of a Marketing Plan A well thought-out, sensible marketing plan is essential for success in entertainment marketing. Marketing plans present an organized and informed approach to marketing all products. The two main parts of a marketing plan are: –Market overview –Market strategy 4

Market Overview and Market Strategy 5 Market OverviewMarket Strategy Economic climate Market trends Current goods or services Current target customers and buying habits Current distribution channels Competition New opportunities Product –Positioning a product to make it stand out Price –Pricing a product competitively and highlighting value Place or distribution –Making a product easily accessible Promotion –Advertising a product’s qualities and brand

The Importance of a Marketing Plan fiscal year Marketing plans are usually developed before the launch of a new project, or at the beginning of a fiscal year. fiscal year a 12-month accounting period 6

Developing a Business Plan business plan Marketing plans are one element of an overall business plan. business plan a proposal that describes a new business to potential investors and lenders 7 viability Business plans are a way of presenting viability. viability the possibility of successful operation and profitability of a business

Elements of a Business Plan 8 I.Executive Summary II.Mission Statement III.Industry Overview IV.Competitive Analysis V.Marketing Plan VI.Organization Plan VII.Operating Plan VIII.Financial Plan IX.Appendices and Exhibits I.Executive Summary II.Mission Statement III.Industry Overview IV.Competitive Analysis V.Marketing Plan VI.Organization Plan VII.Operating Plan VIII.Financial Plan IX.Appendices and Exhibits

Developing a Promotional Plan promotional plan A promotional plan can be part of a business plan. promotional plan a detailed strategy of how to focus advertising and marketing communication efforts 9 The major goals of a promotional plan are: –Create or identify a brand  Slogan slogan a catch phrase or small group of words that are combined in a special way to identify a product or company –Communicate the brand to consumers  Media mix media mix a combination of two or more promotional methods

Developing a Promotional Plan Promotional methods used to communicate a brand include: 10 Slogan Logo Advertising Marketing materials Sales and promotion Publicity Trade shows

The Whole Package A business plan outlines the business. The marketing plan outlines the product and how to sell it. The promotional plan describes exactly which channels will be used to communicate a marketing message to target customers. All three plans work together to develop a profitable business. 11

Describe a marketing plan. Name two events that could generate publicity for an entertainment person, company, or product. What are some promotional methods used to communicate a brand?

The Value of Education To be an entertainment marketing professional, you need to know about marketing and marketing plans, as well as the entertainment industry. Formal education is necessary, but much of what you need to know can be learned through work experience. 13

Educational Resources internship temporary paid or unpaid position giving students direct work experience and exposure to various aspects of a career 14 Educational resources include: High school courses Undergraduate and graduate programs Internships Internships and work experience continued

Educational Resources 15 Industry training programs, workshops, and seminars Industry publications and journals –Variety The entertainment industry –TMS News Newsletter from MOBE (Marketing Opportunities in Business and Entertainment) –Internetnews.com Internet advertising news –Newsreel.com Headlines on entertainment and marketing

Entertainment Marketing Careers 16 Career areas in entertainment marketing include: Public Relations Advertising Merchandising Brand Development Facility Design Sponsorship and Endorsement Contract Negotiation Event Planning and Marketing Ticket Group Sales and Distribution Publicity and Promotions Product and Market Research Licensing and Copyright Talent Management

Entertainment Marketing Careers 17 Strategies for building a career in entertainment marketing include: Identify your areas of interest. Identify your skills. Map out your education. Research the companies you want to work for. Make contacts and network.

Your Entertainment Career A Web site called EntertainmentCareers.net offers a forum for job-seekers to test their mettle in jobs ranging from acrobat to legal counsel. Unlike other job sites, many entertainment-specific career sites focus on the part-time, contract, and seasonal jobs that are common to this diverse industry. The entertainment industry has embraced the Internet as a new medium to deliver information to consumers. It’s also embraced the Internet as a means to find and recruit talent. 18 For more information on sports and entertainment marketing, go to marketingseries.glencoe.com.marketingseries.glencoe.com

Entertainment Marketing Careers networking the practice of finding contacts among people you know, including family and friends, employers, and professional people you know personally 19 Strategies to help you focus on areas within entertainment marketing include: Identify your interests. Get experience. Research. Make contact. –networking

Name four areas of entertainment marketing careers. What are some ways to find out about personalities and companies in the entertainment world? What is an informational interview?

Explain the importance of a marketing plan. 21 Describe the components of a marketing plan. A well thought-out, sensible marketing plan enables successful entertainment marketing, budget approval, and investments. 1.A marketing plan consists of a market overview and a marketing strategy. 2. Name the elements of a business plan. executive summary, mission statement, industry overview, competitive analysis, marketing plan, organizational plan, operating plan, financial plan, and appendices and exhibits 3. Checking Concepts continued Define branding. 4. Branding is the first step in a promotional plan that creates identification with a business name or image in the consumer’s mind. 4.

Through education, you can accumulate the knowledge, information, and skills necessary to succeed in your chosen field. 5. Explain the value of education. 22 Identify the resources that can provide an entertainment marketing education. high school courses, undergraduate and graduate degrees, internships and work experience, industry training programs, workshops, and seminars, and industry publications and journals 6.Answers will vary but networks may consist of family and friends, employers, and professional people the student knows personally. 7. Checking Concepts continued List three people in your network. 7.

Answers will vary but should include two career areas and give valid reasons. 8. Identify two careers in entertainment marketing that interest you and explain why you think they sound interesting. 23 Critical Thinking Checking Concepts 8.

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