What is Marketing Sports Marketing Entertainment Marketing Advanced

What is Marketing, Sports Marketing & Entertainment Marketing? Advanced Sports and Entertainment Marketing Unit 1. 1 By: Stacey Orr CTAE Resource Network 2010

Marketing Defined �The process of developing, promoting, and distributing products, or goods and services, to satisfy customers’ needs and wants.

The Marketing Process �Developing products involves studying consumers to determine what they want, and then designing the products that will satisfy their needs and wants.

The Marketing Process �Promotional activities help to educate consumers, create interest and desire, make a sale, and create an image for a company and its products.

Do you recognize these? �“Just Do It” �“The Breakfast of Champions” �“Take the __ Challenge” �The Golden Arches Nike Wheaties Pepsi Mc. Donald’s

The Marketing Process �Distribution is the means of getting the product into the hands of the customer.

The Marketing Concept �The idea that organizations need to satisfy their customers while also trying to reach their organizations’ goals. �Focus efforts on customers’ needs and wants.

What is sports marketing? �Sports Marketing consists of all activities designed to meet the needs and wants of sports consumers through exchange processes. �Marketing the sport �Marketing through sports

What is entertainment marketing? • Influencing how people choose to spend their time and money on entertainment

The Importance of Sports and Entertainment Marketing �Today, they are two of the most profitable industries in the US. �Billions of dollars spent each year. �Entertainment main export of US.

Functions of Marketing Please Don’t Forget My Pizza Party Saturday 1. Product/Service Development 2. Distribution 3. Finance 4. Marketing Information Management 5. Pricing 6. Promotion 7. Selling

Product/Service Management �Decisions made regarding: �Creating new products �Improving existing products �Obtaining new products (Purchasing) �Must match your target market’s needs �Goals reflect the right product mix

Distribution Decisions regarding: Where to sell the product Transporting products Storing products Handling products

Finance �Obtaining money to operate a business �Saving cash �Applying for loans �Finding investors �Deciding appropriate Return on Investments for projects

Marketing Information Management �Decisions regarding: �What information is needed from customers �What is the best way to obtain information from customers (online surveys, focus groups, secondary data) �Writing the questions in an appropriate manner �Analyzing the information obtained

Pricing �Decisions regarding: �Appropriate pricing strategies �Value customers place on products �Calculating breakeven, mark-up and mark-down for products

Promotion �Decisions regarding �Getting the message out about your company and/or products � Advertising � Sales Promotions � Publicity � Personal Selling

Selling �Direct communication between customers and sales staff from a company �Decisions must be made regarding: �Training of employees �Customer service expectations �Educating sales staff regarding products so they are able to sell the products effectively