WHAT IS SER MARKETING? Sports, Entertainment and Recreation Marketing

OBJECTIVES  Define marketing  Analyze Sports Marketing, Entertainment Marketing and Recreation Marketing  Review the marketing mix  Break down market segmentation  Define the marketing concept

MARKETING  Process of developing, promoting, distributing and selling goods and services to satisfy customers’ needs and wants  Goods – Tangible products  Services – Intangible products

SPORTS MARKETING  Using sports to market products or marketing through sports

MARKETING STRATEGIES FOR SPORTS  Sports logos for clothing  New sports, new opportunities  Soccer popular during the World Cup  Lacrosse growing every year  Extreme sports  Arena Football  Timing  Winning/Success  New apparel coming out in preparation for the upcoming season

ENTERTAINMENT MARKETING  Influencing how people choose to use their time and money for the purpose of entertainment

ENTERTAINMENT  Whatever people are willing to spend their money and spare time viewing, rather than participating in.  Can include sports or the arts  Can be viewed in person or in broadcast/recorded form  Generally movies, theater, music, concert, etc.

ENTERTAINMENT – TELEVISION  In 1946 fewer than 7,000 TV sets were in households  In million TV sets were in households and $42.5 billion was spent on TV advertising  million TV homes in the U.S. in 2009

RECREATION  Renewing or rejuvenating your body or mind with fun or relaxing activities  Recreational activities – those involved in travel, tourism, and amateur sports that are not associated with educational institutions  EX: Little League Baseball, Amusement parks

TOURISM  Generally considered traveling for pleasure whether the travel is independent or tour-based  Example: A trip to Disney World!

THE MARKETING MIX The 5 P’s of Marketing

THE 5 P’S OF MARKETING  Product – what a business offers customers to satisfy needs  Price – the amount that customers are willing and able to pay for products or services  Place – the locations and methods used to make products available to customers  Promotion – ways to make consumers aware of products and encourage them to buy  People – the target market

THE TARGET MARKET (PEOPLE)  A specific group of people that a business wants to reach with their goods or services  The company must know the wants and needs of its target market  Can be broken down into more specific groups

MARKET SEGMENTATION  A market segment is a group of consumers within a larger market who share one ore more characteristics  Geographics  Demographics  Psychographics  Behavioral-Based

GEOGRAPHICS AND DEMOGRAPHICS Geographics  Divides markets into physical locations (where people live)  Ex: Eastern, Northern, Southern, Western  Sporting goods store in the South will stock a larger number and variety of water sports equipment Demographics  Divides markets into information that can be measured (personal characteristics)  Ex: age, income, profession, gender, education, marital status, and size of household

PSYCHOGRAPHICS AND BEHAVIORAL- BASED Psychographics  Divides markets based on characteristics that cannot be physically measured  Ex: values, interests, and lifestyle choices Behavioral-Based  Focuses on a customer’s attitude toward products and services  Product Usage: reflects what products you use and how often  Product Benefits: reflects the benefits derived from products or services

THE MARKETING CONCEPT  The idea that a business should strive to satisfy customers’ needs and wants while generating a profit