Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 1 WHAT IS MARKETING? Marketing Long definition – Planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives Simple definition – anything that you do to get the product/service in the hands of customers. Satisfying needs and wants.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 2 Sports and Entertainment Marketing Marketing of sports and entertainment. Round Rock Express giving out free tickets, or advertising season ticket packages Marketing through sports and entertainment. Companies use sports and entertainment as a vehicle to gain exposure for their products (think Gatorade)

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 3 THE MARKETING MIX A.K.A - The 4 P’s how a business blends the following four elements product place price promotion

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 4 what a business offers to satisfy needs goods and services place (distribution) the locations and methods used to make products available to customers product

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 5 amount customers pay for products promotion ways to make customers aware of products encourages customers to buy price

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 6 A Marketing Mix Example in the Entertainment Industry Can you give me an example of the marketing mix being used in the Entertainment industry? Think: States Fairs, Movies, Shopping, Reading, etc.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 7 CORE STANDARDS OF MARKETING The basis of all marketing activities

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 8 designing, developing, maintaining, improving and acquiring products or services to meet customer needs Product/Service Management

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 9 gathering and using information about customers to improve business decision making Marketing-Information Management

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 10 using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome Promotion

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 11 any direct and personal communication with customers to assess and satisfy their needs Selling

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 12 the process of establishing and communicating to customers the value or costs of goods and services Pricing

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 13 Distribution involves determining the best way to get a company’s products and services to customers. Distribution

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 14 A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services. Financing

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 15 WHY SPORTS MARKETING? demographics common characteristics of a group age, marital status, gender, ethnic background, income, education sports marketing large audiences to market products

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 16 New Sports, New Opportunities continual innovation provides new opportunities X Games MMA New Summer Olympic Sports – Golf and Rugby being considered for 2016

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 17 THE VALUE OF SPORTS MARKETING Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy. Hospitality Industry Emotional connections influence buying Promotional streams for media outlets

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 18 Lesson 1.3 Entertainment Marketing Goals Define entertainment. Describe the impacts of advances in entertainment technology on entertainment marketing.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 19 ENTERTAINMENT FOR SALE entertainment marketing influencing how people choose to spend their time and money on entertainment concerts, movies, amusement parks, theater, etc. What would you consider the WWE?

Sports and Entertainment Marketing © Thomson/South-Western Entertainment Marketing – Viewed in two ways: Entertainment as a product to be marketed OR How to use entertainment to attract attention to other products Chapter 1 Slide 20

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 21 What Exactly is Entertainment? entertainment whatever people are willing to spend their money and spare time viewing rather than participating in

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 22 The Beginning of Change Disneyland (1955) represented a new approach to the marketing mix of entertainment.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 23 The Big Eye in Every Room The Early Days of Television and Marketing TV changed the marketing of entertainment in a profound way. Television’s Increasing Influence The pricing of commercial time slots tied to the ratings the number of viewers the programming attracted

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 24 Change Accelerated Technology improvements, including the internet, have facilitated distribution of sports and entertainment to the masses.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 25 Technology and Customer Feedback Audiences can use a variety of communication technologies to provide entertainment feedback. Think American Idol voting