Sports and Entertainment Marketing © Thomson/South-Western ChapterChapter Bell Work Please write down your favorite team/show/form of entertainment. List reasons why you like them. What does it cost? How do you get to it? Does it come to you or do you go to it? What are some types of promotional events to attract you?

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 Chapter 1 Slide 3 Winning Strategies A determined athlete A supportive family From $50 to $4 Million

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 4 Lesson 1.1 Marketing Basics Objectives Describe the basic concepts of marketing. Explain the marketing mix. Define the six core standards of marketing.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 5 Terms marketing marketing mix product distribution price promotion discretionary income

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 6 WHAT IS MARKETING? Marketing the creation and maintenance of satisfying exchange relationships

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 7 WHAT IS MARKETING? Simplified The development of a product that lasts and meets the needs of a consumer who is willing to pay for it.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 8 Satisfying Customer Needs identify your customer and the needs of your customer develop superior products operate your business profitably Name some companies that have done this well.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 9 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 10 THE MARKETING MIX marketing mix how a business blends the following four elements product distribution price promotion

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 11 what a business offers to satisfy needs goods and services distribution the locations and methods used to make products available to customers product

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 12 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 13 Marketing Mix Considerations discretionary 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 14 A Marketing Mix Example in the Sports Industry The product the Super Bowl offers is a game between the best teams of the AFC and NFC. Consumer costs extend beyond ticket prices and include travel and lodging expenses. Distribution includes the location of the host city and ticket sales. Promotion involves media outlets and related-product contests.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 15 One of my favorite products

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 16 Mets Product Baseball Team (tickets) Advertising Space Merchandise Championships 1986 World Champions

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 17 Mets Price Tickets Range from $27 to $695 Bundle Pricing-Season Tickets Advertising Space $400 million for naming rights

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 18 Mets Placement Field: Citi Field T.V.: Sports New York (SNY) Radio: WFAN 660 AM

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 19 Mets Promotion Special Nights o Dollar Dog Night “Oh Yeah!” o Bobble Head Night Community Work Winning Team Advertising

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 20 What are the elements of the marketing mix? Take your products from the beginning of class and discuss what the P’s are of your product.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 21 CORE STANDARDS OF MARKETING

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 22 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 23 gathering and using information about customers to improve business decision making Marketing-Information Management

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 24 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 25 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 26 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 27 any direct and personal communication with customers to assess and satisfy their needs Selling

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 28 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 29 List and provide an example of each core standard of marketing.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 30 Lesson 1.2 Sports Marketing Objectives Define sports marketing. Explain the value of sports marketing to the economy. Define and calculate gross impression.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 31 Bell Work

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 32 Terms demographics sports marketing gross impression

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 33 WHY SPORTS MARKETING? demographics common characteristics of a group age, marital status, income, education sports marketing using sports to market products

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 34 New Sports, New Opportunities continual innovation provides new opportunities extreme sports new football league Any others?

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

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 36 Timing Fans want products and services that identify them with winning teams and athletes. Marketing efforts may need to be tweaked based on changes in winning trends.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 37 Why are gross impression and timing important in sports marketing?

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 38 THE VALUE OF SPORTS MARKETING Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 39 Emotional Value Emotional connections to teams motivate fans to buy tickets to games.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 40 So Many Channels High profile sporting events generate strong promotional revenues for broadcasters.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 41 Name three ways that sporting events help boost the local economy and/or national economy.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 42 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 43 Terms entertainment marketing entertainment ratings

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 44 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 45 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 46 What are the two ways of looking at entertainment marketing?

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 47 EVOLUTION OF ENTERTAINMENT AND ENTERTAINMENT MARKETING At the beginning of the twentieth century, audiences needed to travel to the entertainment source. Audience feedback was instantaneous and live. Technology distanced entertainers from their audiences.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 48 The Beginning of Change Disneyland represented a new approach to the marketing mix of entertainment.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 49 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 ratings the number of viewers the programming attracted

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 50 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 51 Technology and Customer Feedback Audiences can use a variety of communication technologies to provide entertainment feedback.

Sports and Entertainment Marketing © Thomson/South-Western Chapter 1 Slide 52 Name a few benefits of television to marketers and advertisers.