1. Key Marketing Functions
Sports and Entertainment Marketing

2. Product/Service Management
Designing, developing, maintaining, improving, and acquiring p/s so they meet customer needs
Ex: Fisher Price tests new toys w/ children and parents

3. Distribution
Determining the best way to get a company’s p/s to customers
Ex: Sony sells their products through electronic retailers like Circuit City

4. Selling
Includes direct and personal communication with customers to assess and satisfy their needs
Must also anticipate their future needs
Ex: Singers spend months touring and traveling to sell their CD

5. Marketing-Information Management
Gathering and using information about customers to improve business decision making
Ex: Domino’s expanding to Japan. Used Market research to adapt the traditional Domino’s pizza to Japanese tastes. Made pizza’s smaller for a snack not a meal. Also offer non-traditional toppings.

6. Financing
Requires a company not only to budget for its own marketing activities
Also provides customers with assistance in paying for the company’s p/s
Ex: General Motors offers loans to customers through its GMAC division.

7. Pricing
The process of establishing and communicating the value or cost of goods and services to customers
Ex: Ticket pricing for professional sports events are high because demand is high

8. Promotion
Using advertising and other forms of communicating info about products, services, images, and ideas to achieve a desired outcome
Ex: Coupons on backs of ticket stubs. Used to promote p/s and to entice fans into trying them at a discounted price

9. 7 Key Functions Basis of all marketing activities Refer to them often
Everything you learn will involve one of these functions
Responsibility of all marketers