1. Sports and Entertainment Marketing
Strand

2. Standard One
Students will gain an understanding of basic marketing concepts and terminology as they pertain to the sports and entertainment industry.

3. Objective One
Identify and understand the basic concepts and the core standards of marketing.

4. Marketing -- The Definition
The process of developing, pricing, promoting, and distributing products to satisfy customers’ needs and wants.

5. Market
The group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product.

6. Who is the Target Market?

7. What is Marketed?
DURABLE GOODS
NONDURABLE GOODS
SERVICES
IDEAS
8, 9

8. What is Marketed?
PEOPLE
PLACES
ORGANIZATIONS

9. What is being marketed? 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

10. Producers Individuals or Companies which have products to be sold.
They provide the “supply.”
They are willing to exchange the product or service for something of value. 3

11. Consumers
Individuals or Companies which have needs to be met and which have something to exchange.
They create a “Demand.”
They have something to exchange for a product or service and are willing to do so. 4

12. Exchanges Everyday transactions between producers and consumers
Typically trading money for a product or service 2

13. The Marketing Concept
Focuses on satisfying the needs and wants of customers, at the same time making a profit for the company.

14. Marketing Mix The FOUR P’s OF MARKETING Product or Service Pricing
Promotion
Place (Distribution)

15. Product Strategies
Companies & teams must create strategies to promote, manage, sell, service, and evaluate their PRODUCTS.

16. Service Strategies Entertainment…
Companies & teams must create strategies to promote, manage, sell, service, and evaluate their SERVICES.
Entertainment…

17. Pricing Strategies
Companies & teams must create strategies to PRICE the products & services.

18. Promotion Strategies
Companies & teams must create strategies to PROMOTE the products & services.

19. Distribution Strategies
Companies & teams must create strategies to DISTRIBUTE the products & services.

20. Seven Core Functions of Marketing
Product/Service Management
Marketing-Information Management
Pricing
Promotion
Distribution-Channel Management
Selling
Financing-Market Planning

21. Product/Service Management
Designing, developing, maintaining, improving, and acquiring products or services for the purpose of meeting customer needs and wants

22. Marketing-Information Management
Gathering and using information about customers to improve business decision making

23. Pricing
The process of establishing and communicating to customers the value or cost of goods and services

24. Promotion
Using advertising and other forms of communication to distribute information about products, services, images, and ideas to achieve a desired outcome

25. Distribution-Channel Management
Determining the best way to get a company’s products or services to customers

26. Selling
Any direct and personal communication with customers to assess and satisfy their needs and wants

27. Financing-Market Planning
Requires a company to budget for its own marketing activities and to provide customers with assistance in paying for the company’s products or services

28. Benefits of Marketing Add UTILITY to goods and services
Added value
Makes buying convenient
Maintains reasonable prices
Provides a variety of goods and services
Increases production