Sports Entertainment Marketing Mrs Wilson Sports Entertainment Mktg

Sports & Entertainment Marketing Mrs. Wilson Sports & Entertainment Mktg. Rocky Point HS

Definition of Marketing is the process of developing, promoting, and distributing products in order to satisfy customers’ needs and wants. Known as the Marketing Mix.

Seven Key Functions

What ARE the products? n. Goods n. Services Car Food Home Clothes Hospital TV Repair Auto Mechanics Carpet Cleaning n. Ideas Internet Training Computers Printed Materials

Short Definition of Marketing “The promotion of goods, services, and ideas. ”

The Four Ps of Marketing Product n Place n Price n Promotion n

Product Any goods, services, or ideas that we wish to sell. n Goods, Services, or Ideas n Research: – Defining Target Markets – Product Design or Content – Quantities n Quality: Standard/Deluxe n Guarantees or Warranties

Place Distribution is getting the right product to the right place at the right time in the right amount and in the right condition. (For example: You don’t want parkas delivered to a service station in Las Vegas!) n Distribution n Storage & Warehousing n Transporting

Channels of Distribution The path a product takes from the producer to the consumer. n Direct – Manufacturer To – Consumer n Indirect – Manufacturer To – Retailer To – Comsumer

Price Determining a dollar amount at which we can sell the product. n Costs: – Production – Wholesale – Retail n Compare to Competition n Profit Margin n Value

Promotion Making potential customers aware of a product in a positive way so they will want to buy it. n Packaging n Advertising n Personal Selling n Sales Promotion: – Coupons, Discounts

Target Market n. A specific group of consumers that an organization selects as the focus of its marketing plan.

Needs vs. Wants n Needs occur when people experience a lack of basic necessities such as food, clothing, or shelter. n Wants are things that people desire. Ex. Getting thirsty is a need-Desiring Gatorade is a want!

Demographics n Statistics that describe a population in terms of personal characteristics. – Age – Income – Occupation – Gender – Ethnic background – Educational levels

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Real Estate Advertising Hospitality Marketing Customer Service Importing/Exporting Restaurant Management e-Commerce International Marketing Retail Management Entrepreneur Marketing Research Sales Management Fashion Merchandising Product Management Service Marketing Professional Sales Sports Marketing Public Relations Travel/Tourism Marketing Financial Services Food Marketing