Post on 27-Dec-2015
Sports & Entertainment Industries
and the 4 P’s
Mrs. WilsonMrs. Wilson
Sports & Entertainment MarketingSports & Entertainment Marketing
Sports & Entertainment Sports & Entertainment IndustriesIndustries• Today, more than any other time in history,
are the two most profitable industries in the U.S.
• Fans spend billions of dollars each year on recreation
• Reaches around the globe as well
• Entertainment is a main export of the U.S.
Foundation of Sports & Foundation of Sports & Entertainment MarketingEntertainment Marketing• Organized marketing plan with strategies that
target specific consumers
Marketing Defined:Marketing Defined:“The process of planning, pricing, promoting, selling,
and distributing ideas, goods, or services to create exchanges that satisfy customers.”
• Marketing is a process
• Marketing is an “umbrella” term
• Current marketing practices focus on customers and maintaining a close relationship with them
Goods and ServicesGoods and Services• Goods
– Tangible items that have monetary value and satisfy your needs & wants (can touch them)
– Examples: sports equipment, TV, clothing, candy.
• Services– Intangible items that have monetary value and satisfy
your needs & wants (can’t touch them)– Examples: tickets, banks, dry cleaners, amusement
parks.
Functions of MarketingFunctions of Marketing1. Purchasing2. Selling3. Pricing 4. Product Planning5. Marketing Information
Management6. Promotion7. Financing8. Distribution9. Risk Management
• All activities can be classified into nine functions of marketing
If you know:If you know:• Nike: “Just Do It”• Wheaties: “Breakfast of Champions”• Pepsi: “Take the Pepsi Challenge”• McDonalds: “Golden Arches”
You have been exposed to marketing.
Promotion Includes:Promotion Includes:• Newspaper• Magazine• Radio• Television• Direct Mail• Internet Advertising
Distribution or Place:Distribution or Place:• Where do you buy a pair of sneakers
or a theater ticket?– Internet?– Retail Store?– Theater?– Telephone Solicitation?– Wholesaler?– Retailer?
Marketing Concept:Marketing Concept:• The IDEA that organizations
need to satisfy their customers while also trying to achieve their organizations goals.
• To be profitable, businesses must focus their efforts on the customers needs and wants.
The Market:The Market:• Potential customers• Must meet certain criteria to be potential
customers– Shared needs– Have desire and ability to buy a product
• Example: You may be included in the “market” for sneakers is you have desire and money to purchase them.
Target Market:Target Market:• A specific group of consumers that an
organization selects as the focus of its marketing plan
• Reebok & Nike have a large market for athletic shoes, but smaller, homogenous (similar) group for tennis, golf, running, walking, and so on.
Customer Relationship Customer Relationship Management (CRM)Management (CRM)• An aspect of marketing that
combines customer information with customer service and marketing communications
• Includes buying history, customer data, and demographic information
ReviewReview• Name two ideas that can be
marketed?• Where do exchanges take place?• What is the main difference between
consumers and industrial users?• List at least three ways the Internet
has changed marketing functions.