Sports and Entertainment Marketing

Product  Tangible  A physical item that is made or grown to be sold or used  Examples:  Soccer ball  Tennis racket  Running shoes  Backpack Service  Intangible  The process of supplying a public need or accommodation  Examples:  Movie theater  Camp ground  Athletic training  Public parks

 One of the 7 Marketing Functions (product/service planning or management)  Making decisions about the features and services of a product or idea that will help sell the product to consumers

 Features or changes to make to a product  How to promote the product  How to sell the product

 Product planning begins with market research  Marketing Information Management  Market research is needed to determine consumer wants and needs

 Why would Dominos want to talk to consumers about their products?  Other ways to collect market research Surveys Observations

 Consumer options  Consumer insight or suggestions  Demographic information  Age  Gender  Ethnicity  Psychographic information  Lifestyle  Buying patterns

 How do companies use market research to stay competitive?  Learn what the market wants and adapt  Stay on top of current trends  Measure impact of promotional efforts  Determine better ways to reach the market Social media New mediums (blogs, website, etc.)

 To stay current and relevant  To keep their fingers on the pulse of their market  To offer the best possible products to consumers  To keep up with the competition

 What uncontrollable factors affecting product planning?  Season on the year – is the product in season?  Weather – is the product affected by weather?  Politics – do politics or the economy affect the product?  Team record – is the team winning of losing?

 Choose a product you would like to adapt or change  Create a survey for your classmates (Google docs)- at least 10 questions  Survey the class  Make a Power Point illustrating the changes you want to make to the product  REMEMBER TO BE CREATIVE!!