1. What is Marketing?

2. The Importance of Sports and Entertainment Marketing
The sports and entertainment industries have become two of the most profitable industries in the United States.

3. Marketing Defined
marketing the process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants
Goods are tangible items, such as sports equipment.
Services are intangible products, such as theater tickets.

4. first step is identifying the market.
Definition Cont’d
marketing concept is an idea that organizations need to satisfy their customers while also trying to reach their organizations’ goals
first step is identifying the market.
Market- potential customers with shared needs who have the desire and ability to buy a product

5. Needs VS. WANTS
Needs - basic necessities such as food, clothing, or shelter Wants – items that people desire but are not needed for survival i.e. designer jeans, iPod

6. demographics
statistics that describe population in terms of personal characteristics
demographic information is used to develop marketing plans

7. Marketing Mix a tool to develop strategies
a combination of four basic strategies known as the 4 Ps:
Product
Price
Place
Promotion

8. Product Decisions Price Decisions Place Decisions Promotion Decisions
involve the goods, services, or ideas used to satisfy consumer needs.
Product Decisions
involve the exchange process between the customer and the seller.
Price Decisions
involve making the product available to the customer.
Place Decisions
involve how the goods or services are communicated to the consumer.
Promotion Decisions

9. Economic Basics
profit the money left after all costs and expenses of a business are paid
competition the struggle among companies for customers

10. A Brief History of Leisure
Marketers sell participation in sports and entertainment events to consumers.
-consumers people who use products
The growth of the sports and entertainment industries have relied on consumers with free time, discretionary income, and a desire for recreation.
-discretionary income money left to spend after necessary expenses are paid

11. Property Ownership and Intellectual Property Rights
In Canada we have the right to own property and start a business.
Intellectual property rights are protected by the following:
copyright legal protection of a creator’s intellectual property or products
Patents  exclusive rights to an inventor for a limited period of time in exchange for detailed public disclosure of an invention
Trademarks a recognizable sign or symbol which identifies a product or service

12. Marketing Today
Sports and entertainment vendors compete for a share of the money people spend on recreation.
vendors sellers of products
Sports and entertainment marketing directs consumers toward sports and entertainment products.
product a good or service that any for-profit industry sells to its customers

13. Sports and Entertainment Connections
What do sports and entertainment have in common?
They have thrilled and entertained people for centuries—since the ancient Olympic games and Greek plays.

14. Changes in Marketing
promotion any form of communication used to persuade people to buy products New technologies have broadened the scope and reach of marketing messages, and they can be entertainment products themselves.

15. Marketing Similarities
4 P’s (Product, Price, Place, Promotion)
Product
Endorsement approval or support of a product or idea, usually by a celebrity
Core product the main product, such as sports event, movie, stage show, or book
Ancillary product a product related to or created from the core product
Revenue gross income

16. Marketing Similarities
Price
Piracy the unauthorized use of another’s music, movies, or copyrighted material
Royalty a payment for material that has been copyrighted, or legally declared as belonging to the creator
Copyright

17. Marketing Similarities
Promotion
Product tie-in use of ancillary products such as merchandise as promotional tools
Cross-promotion any form of communication through which one industry relies on another industry to promote its product

18. Different Players, Different Games
The differences between sports and entertainment can be found in three areas:
Consumer loyalty -consumers’ attitude that occurs when they are happy with a company and become repeat customers
Product
Revenue stream

19. Differences in Product
The sports product is consistent, or stable.
The entertainment product is variable, or changeable.

20. Differences in Revenue Stream
Sports franchises earn revenue from sponsorship.
-the promotion of a company in association with a property
Sports franchises also earn revenue from advertising and broadcast rights.

21. THINKING:
Describe how sports and entertainment impact national and local economies.
Sports and entertainment local events draw audiences. That means workers are needed for crowd control, ticket collection, concession sales, and security. These customers may also hire local people to work for them. Nationally, events that increase tourism contribute to the GDP (Gross Domestic Product) of a country.