1. Sports and Entertainment Marketing
2.01 Explain the concept of marketing.

2. Marketing
The process of _______, promoting, _______ and distributing products in order to satisfy customers’ needs and wants. Marketing involves all the activities necessary in getting a product from the producer to the consumer.

3. Marketing Concept
Businesses become successful by directing all of their efforts to satisfying the ______ and ______ of the customers.
Businesses make a profit by offering the ______ and services that the consumer wants.
Recognizes the importance of the consumer in the buying process.

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

5. Marketing-Information Management
Obtaining information needed to make sound business decisions. Example: Taste tests and surveys.

6. Product/Service Management
A. _____ Management: preventing or reducing business loss.
B. ________: Buying goods and services for use in the day-to-day about where a product is sold.
Concepts and procedures necessary to obtain, develop, maintain, and improve a product or service mix in response to market opportunities.

7. Financing
Obtaining _______ needed to finance the operation of a business. This includes bank loans and offering credit to customers.

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

9. Promotion
___________ used to inform or remind people about a business’s products. ________ also involves persuading customers to purchase a product.
Your AD here!

10. Selling
Determining customer _____ and ______ through planned, personalized communication intended to influence purchase decisions and ensure satisfaction.

11. Distribution
The _________, _______ and ________ of goods on their way from the manufacturer to the consumer. This includes the decisions about where to sell a product.

12. The Four P’s of Marketing
The _______ mix, known as the four P’s, is a combination of decisions a business must make in order to best reach its target market

13. PRODUCT
The _______ and ________ a business will offer to its customers
A. Choice of product: Will the business offer a variety of products?
B. Packaging: Does the packaging protect the product and provide necessary information about the product?

14. PRODUCT continued . . .
C. Level of quality: What level of quality will the business ensure?
D. Brand name: What brand name products will the business offer?
E. Warranty: Will the business offer a warranty to its customers to ensure satisfaction?

15. PRICE The amount a business charges customers for their products
A. ________. Price will be set based on product demand, cost, and competitors’ actions.
B. ________. Will the company only accept cash? Will the company extend credit? What type of credit will the company extend?

16. PRICE continued . . .
________. Will the business offer discounts to employees? Locals? Will the business discount merchandise at certain times of the year?

17. PLACE (distribution)
Making _______ available at the right time and location.
A. ________ of Distribution: the path a product takes to get from the producer to the consumer
B. What specific stores will offer the products? (wholesaler, retailer, department, discount, etc.)

18. PLACE continued . . .
C. What method of __________ will be used to get the product from the producer to the consumer? (truck, train, place, boat, pipeline)
D. How will inventory be handled and controlled? (methods- physical, storing, checking, or receiving)

19. PROMOTION
Informing, reminding, and _________ customers of the goods and ________ available to them.
A. What will the message be?
B. When will the message be delivered?

20. PROMOTION continued . . . C. Where will the message be delivered?
___________________
D. What inducements will be used to encourage customers to purchase the product?
E. How will the message be delivered?