Bell Ringer (5 minutes) Carlos ordered food at Sonic for $6.79. He plans to give the carhop a $1 tip out of his $10. How much change will Carlos receive back from the carhop - after tip?

Bell Ringer Answer $ $1.00 (tip) = $7.79 $ $7.79 = $2.21 Carlos would receive $2.21 back from the carhop after leaving a $1.00 tip.

Agenda Bell Ringer - (10 minutes) Discuss daily objectives - (2 minutes) Lecture / Introduction to Sports Marketing – (40 minutes) Quiz – (18 minutes)

Vocabulary Words Marketing Marketing Mix Product Distribution Price Promotion

Daily Objectives Define marketing Describe the basic concepts of marketing Explain the marketing mix Define the six core standards of marketing

What is Sports Marketing?!

Discussion Questions How would you define sports and entertainment marketing? Describe the consumers of sports and entertainment products. What kinds of marketing strategies do you think sports and entertainment businesses use? Do you think sports and entertainment marketing affects the economy? In what ways? Do you think sports and entertainment have always been big businesses? What kind of marketing do you think was done for sports and entertainment 100 years ago? What is one difference between watching a sports game and watching a movie? Name some athletes and celebrities who have endorsed sports and entertainment products?

Marketing The creation and maintenance of satisfying exchange relationships. – Planning and Executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

The Marketing Mix To perform the tasks associated with marketing, marketers rely on a marketing mix. The marketing mix describes how a business blends the four marketing elements of product, distribution, price, and promotion.

4 P’s Product  what a business offers customers to satisfy needs. Products includes goods and services. Distribution/Place  the locations and methods used to make products available to customers. Price  the amount that customers pay for products. Promotion  Ways to make customers aware of products and encourage them to pay.

Marketing Mix Considerations Marketers must carefully consider the many factors that affect the marketing mix elements because of the lack of discretionary income. Discretionary Income is the amount of money individuals have available to spend after paying for the necessities of life and other fixed expenses, such as housing and car payments.

Marketing Mix Considerations PRODUCT Product offerings must be constantly evaluated and updated, because what is popular this year may not be popular next year. Markets must consider the quantities of the products to produce. – Too much of a product could result in price markdowns. Too few of a product could result in lost sales.

Marketing Mix Considerations Price Businesses must offer products and services are prices that consumers are willing to pay. Prices charges for sports and entertainment events must be sensitive to consumer demand and the state of the economy.

Marketing Mix Considerations Distribution Involves transporting or delivering goods to the final consumer. The distribution of an event involves planning the location where the event will take place, or how the uniforms will arrive to the field.

Marketing Mix Considerations Promotion Essential to inform prospective customers about sports and entertainment events and products. Forms of promotion can range from advertisements to in-stadium advertising through special offers and ticket-stubs. Promotion requires creativity to keep the attention of prospective customers.

Six Core Standards of Marketing

Assessment: 1.Which core standard involves catering and using data to make future business decisions? 2.What are the four functions of the marketing mix? 3.Think of one of your recent purchases. List and describe how the six core standards of marketing were involved with the purchase.