Entertainment Marketing Plan Entertainment Marketing Education and Careers

Entertainment Marketing Plan Entertainment Marketing: Education and Careers 2

Chapter Objectives Explain an entertainment marketing plan. Describe a business plan. Explain a promotional plan. Describe educational preparation for a career in marketing. Identify career areas in entertainment marketing. 3

The Importance of a Marketing Plan A well thought-out, sensible marketing plan is essential for success in entertainment marketing. Marketing plans present an organized and informed approach to marketing all products. The two main parts of a marketing plan are: – Market overview – Market strategy 4

Market Overview and Market Strategy Market Overview • Economic climate • Market trends • Current goods or services • Current target customers and buying habits • Current distribution channels • Competition • New opportunities Market Strategy • Product – Positioning a product to make it stand out • Price – Pricing a product competitively and highlighting value • Place or distribution – Making a product easily accessible • Promotion – Advertising a product’s qualities and brand 5

The Importance of a Marketing Plan Marketing plans are usually developed before the launch of a new project, or at the beginning of a fiscal year a 12 -month accounting period 6

Developing a Business Plan Marketing plans are one element of an overall business plan a proposal that describes a new business to potential investors and lenders Business plans are a way of presenting viability the possibility of successful operation and profitability of a business 7

Elements of a Business Plan I. Executive Summary II. Mission Statement III. Industry Overview IV. Competitive Analysis V. Marketing Plan VI. Organization Plan VII. Operating Plan VIII. Financial Plan IX. Appendices and Exhibits 8

Developing a Promotional Plan A promotional plancan be part of a business plan. The major goals of a promotional plan are: – Create or identify a brand § Slogan – Communicate the brand to consumers § Media mix promotional plan a detailed strategy of how to focus advertising and marketing communication efforts slogan a catch phrase or small group of words that are combined in a special way to identify a product or company media mix a combination of two or more promotional methods 9

Developing a Promotional Plan Promotional methods used to communicate a brand include: Slogan Logo Advertising Marketing materials Sales and promotion Publicity Trade shows 10

The Whole Package A business plan outlines the business. The marketing plan outlines the product and how to sell it. The promotional plan describes exactly which channels will be used to communicate a marketing message to target customers. All three plans work together to develop a profitable business. 11

1. Describe a marketing plan. 2. Name two events that could generate publicity for an entertainment person, company, or product. 3. What are some promotional methods used to communicate a brand? 12

The Value of Education To be an entertainment marketing professional, you need to know about marketing and marketing plans, as well as the entertainment industry. Formal education is necessary, but much of what you need to know can be learned through work experience. 13

Educational Resources Educational resources include: High school courses Undergraduate and graduate programs Internshipsand work experience continued internship temporary paid or unpaid position giving students direct work experience and exposure to various aspects of a career 14

Educational Resources Industry training programs, workshops, and seminars Industry publications and journals – Variety • The entertainment industry – TMS News • Newsletter from MOBE (Marketing Opportunities in Business and Entertainment) – Internetnews. com • Internet advertising news – Newsreel. com • Headlines on entertainment and marketing 15

Entertainment Marketing Careers Career areas in entertainment marketing include: Public Relations Event Planning and Marketing Advertising Ticket Group Sales and Distribution Merchandising Publicity and Promotions Brand Development Product and Market Research Facility Design Licensing and Copyright Sponsorship and Endorsement Contract Negotiation Talent Management 16

Entertainment Marketing Careers Strategies for building a career in entertainment marketing include: Identify your areas of interest. Identify your skills. Map out your education. Research the companies you want to work for. Make contacts and network. 17

Your Entertainment Career The entertainment industry has embraced the Internet as a new medium to deliver information to consumers. It’s also embraced the Internet as a means to find and recruit talent. A Web site called Entertainment. Careers. net offers a forum for job-seekers to test their mettle in jobs ranging from acrobat to legal counsel. Unlike other job sites, many entertainment-specific career sites focus on the part-time, contract, and seasonal jobs that are common to this diverse industry. For more information on sports and entertainment marketing, go to marketingseries. glencoe. com. 18

Entertainment Marketing Careers Strategies to help you focus on areas within entertainment marketing include: Identify your interests. Get experience. Research. Make contact. networking the practice of finding contacts among people you know, including family and friends, employers, and professional people you know personally –networking 19

1. Name four areas of entertainment marketing careers. 2. What are some ways to find out about personalities and companies in the entertainment world? 3. What is an informational interview? 20

Checking Concepts 1. Explain the importance of a marketing plan. 2. Describe the components of a marketing plan. 3. Name the elements of a business plan. 4. Define branding. continued 2. 1. executive 3. 4. Branding A well thought-out, marketing is the plan first consists summary, step sensible in a of marketing mission a market overview statement, promotional plan enables and industry plan a marketing overview, that successful creates strategy. competitive identification entertainmentwith a analysis, business marketing, marketing name budget or plan, image approval, organizational in the and plan, consumer’s investments. operating mind. plan, financial plan, and appendices and exhibits 21

Checking Concepts 5. Explain the value of education. 6. Identify the resources that can provide an entertainment marketing education. schooleducation, courses, 5. high 6. 7. Through Answers will vary undergraduate and you networks but can may graduate degrees, accumulate consist of family the internships and work knowledge, and friends, experience, industry information, employers, and training programs, workshops, andpeople skills necessary professional to seminars, and industry succeed the student in your knows publications and chosen personally. field. journals 7. List three people in your network. continued 22

Checking Concepts Critical Thinking 8. Identify two careers in entertainment marketing that interest you and explain why you think they sound interesting. 8. Answers will vary but should include two career areas and give valid reasons. 23

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