1.1 Marketing Basics 1.2 Sports Marketing 1.3 Entertainment Marketing 1

 marketing  the creation and maintenance of satisfying exchange relationships

 PRIMARY FOCUS  identify your customer and the needs of your customer  develop superior products  operate your business profitably

 Creation suggests that marketing involves product development  Maintenance indicates that marketing must continue as long as a business operates  Satisfaction implies that marketing must meet the needs of both businesses and customers when exchanging products or services  Exchange relationship is when you both give and receive something of value

 Marketers of sports and entertainment marketing must assess and monitor three (3) major things at all times 1. consumer demand (huge impact) 2. the competition 3. The value of the goods and services they offer

 What are the elements of the marketing mix?  marketing mix (4-Ps)  how a business blends the following four elements ▪ product ▪ place (distribution) ▪ price ▪ promotion

 what a business offers to satisfy needs ▪ goods and services  the locations and methods used to make products available to customers product place (distribution)

 amount customers pay for products  success depends on reaching prospective customers  ways to make customers aware of products  encourages customers to buy price promotion

Sports event of the year: Superbowl  Billion-dollar event results in large sums of money from sponsorships to ticket sales  The host city needs:  Major transportation facilities  Enough hotels, restaurants, and things to do  CLIMATE doesn’t matter, why?  Domes and newer facilities are weather proof

 discretionary income  the amount of money individuals have available to spend after paying for necessities

 Striking the right balance between product, price, place (distribution), and promotion is important.

1. Marketing Information Management 2. Product/Service Management 3. Financing 4. Pricing 5. Promotion 6. Selling 7. Distribution

 Gathering and using information about customers to improve business decision making.  Example: Taste tests and surveys

 Concepts and procedures necessary to obtain, develop, maintain, and improve products and services  Focus groups for testing & opinions

 Obtaining money needed to finance the operation of a business.  This includes bank loans and offering credit to customers.

 Determining a value to charge for goods and services. It is important to consider competition and what consumers are willing and able to pay.

 Communication used to inform or remind people about a business’s products.  Promotion also involves persuading customers to purchase a product.

 Any direct and personal communication with customers to assess and satisfy their needs

 The transporting, storing and handling of goods on their way from the manufacturer to the consumer.  This includes the decisions about where to sell a product.

 Spectators of sporting events are consumers of a wide array of products  From apparel to athletic equipment to food items and automobiles  Common traits of spectators are important  demographics  common characteristics of a group ▪ age, marital status, income, education  sports marketing  using sports to market products

 Demographics: The study of characteristics of groups of human beings in terms of statistics.  Objective characteristics of consumers such as age, income, education, sex or occupation.  A demographic is what most marketing activities focus on, as it is easiest to describe.

 Sports are the 11th largest business of all U.S. industrial groups  Nation’s output for sports goods and services is estimated at $ billion annually

 Success of sports marketing depends on continual innovation and providing new opportunities  extreme sports  arena football  lingerie football  Expanded coverage of sports

 gross impression  the number of times per advertisement, game, or show that a product or service is associated with an athlete, team or entertainer Question: How many times do you need to see a message to make it part of your memory?

 Marketers are aware that popularity is based on a winning record in sports.  Fans want goods that identify them as winners  Winning trends need to be monitored for changes  Increased success leads to greater competition  Must remain unique to be effective

 Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy.  Name some ways that sports impact you and your family?

 Sports fans have emotional ties  Many live for the weekends to see their favorite teams in action  Emotions such as affection and passion compel fans to buy tickets and other sports-related products Capture the heart and fans spend discretionary income freely Celebrities are becoming more involved in sports

 entertainment marketing  influencing how people choose to spend their time and money on entertainment

 entertainment  whatever people are willing to spend their money and spare time doing rather than participating in ….

 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.  Internet Feedback (How)  Hits…

Early Days of Television and Marketing  TV changed the marketing of entertainment in a profound way.  In 1945, Only 9 TV stations and 7000 TVs existed ▪ 25,000 people came to Gimbel’s in Phila to see TV  In 1946, NBC & Gillette staged 1 st Sporting Event (heavy-weight boxing)  Television’s Increasing Influence  All major corporations lined up to use TV  Charged companies by influence and ratings  Ratings ▪ the number of viewers the programming attracted

 In 1956, 82% of all TVs tuned into The Ed Sullivan Show, weekly Sunday-evening variety show.  Launched Big Name stars: ▪ Elvis Presley & The Beatles  Set the standard for marketing ▪ Talent displayed to millions by using technology for distribution

 Chapter 1 from Textbook Exam is tomorrow!  Review PPT is posted on my faculty website  Re-read chapter  Mixed test of: ▪ Multiple Choice ▪ True/False ▪ Dropdown Selection