2.  What is Marketing? –  The process of developing, promoting, and distributing products and services to satisfy customers’ needs and wants.

3.  Developing – studying customers to determine their wants & needs.  Promotional Activities  Educate customers : Free samples of new chips at Wal- mart  Create Interest/Desire : Movie Trailers  Make a Sale : Buy one get one free; 10% off  Distributing – Where are items sold?  Store, online, phone

4.  Self-Sufficient –People did not rely on others to meet their needs.  Bartering –Exchanging products or services  Specialization of Labor - Do what your good at and focus on that.  Money System  Central Markets – Place where people could buy and sell products.

5.  Development of Marketing   Marketing was not always a primary concern of businesses due to:  Lack of technology  Lack of transportation )  Advanced Technology + Improved Transportation = Competition  What do we have to do to get people to buy from us????  Implement the Marketing Concept

6.  Focusing on the needs of customers during the development and promotion of a product.

7.  Target Market – A specific group of consumers that an organization selects as the focus of its marketing mix.

8. Transfer of something, tangible or intangible, between two or more parties.

9.  Product  Price  Place  Promotion

10.  Products that a professional sports franchise markets:  Team – players, name,  Experience – buying a ticket, going to game  Merchandise – featuring team logo, colors, name  Food, beverages  Sponsorships

11.  How does a team “place” the products they offer?  Advertising with newspapers, TV, radio  Merchandise in retail locations, games and online

12.  What role price play in Marketing:  Pricing plans for radio and TV broadcasters to broadcast games  Ticket pricing plan  Merchandise

13.  How is a product promoted:  Advertising in newspaper, TV, radio  Sponsoring events at the arena/stadium  Participating in events (All-star games, Super Bowl)  Internet  Press Releases