Chapter 3

What is sports marketing? Name different types of players.

– I.e. amateur vs professional

Title IX Who are sports consumers? What are some benefits of international

sports?

Chapter 4

Market Segmentation – Analyzing a market by specific characteristics

What are differences between sports good and services?– Tangible and intangible

Product line or Product mix– Line is all one sport (baseballs, glove, bat) and

mix is one store selling all sporting goods.

Economic Effects– Money spent at sporting events is divided among all

groups involved as well as city, and state. This helps with roads, public transportation and police.

Grassroots Marketing– Activities at the local community level such as charity

drives and fundraiser. Good relations between team and consumers.

Chapter 10

What is entertainment marketing? Fad - many products or services influenced

by entertainment are fads Economics of Entertainment

– Is in the top ten of highest grossing segment of the economy

– Merchandising is a big part. Cross-selling -related products tied to one name.

I.e. movies and McDonalds happy meals - both benefit from advertising.

Types of Entertainment

Movies Theme Parks Television Radio Music Performing Arts Internet/Computers Others - circus, opera, ballet

Chapter 11

Evergreen - popular films or products year after year

Rack jobbers - independent vendors who distribute, price and control their own inventory with in a store.

Films after the theater - either are for rent or “sell through”

Location-based Entertainment (LBE)

Attractions which a person or family most travel to. (Six Flags)

LBE venues are usually owned by entertainment conglomerates

Water parks are one of the fastest growing entertainment business because of the low-cost and captive audiences

Edutainment

Recreation-based entertainment linked to education– Museums, Zoos, Historical places

Fun Facts

Television is the #1 entertainment medium. Theater is the oldest The first amusement parks were in Europe in

the 1550’s 8 minutes out of every 30 minutes is

commercial time on TV Print media - books, magazines, comics, and

newspaper - is the second oldest– Romance publishers sell over 700 titles a year

Random Vocab

Syndication -many actors make more money on reruns than on the actual show.– Page 252

Payola - an illegal payment by record companies to radio stations to persuade them to play their records

Chapter 5Product Development

Seven step method

1. SWOT (Strengths-Weakness-Opportunities-Threats) page 101

2.Idea Generation 3.Screening and Evaluation 4.Business Analysis 5.Development 6.Test Marketing 7.Commercialization

Product Life Cycle

Introduction

Growth

Maturity

Decline

Price

Defined as the value placed on goods or services being exchanged

Price is effected by consumer perception, demand, cost, product life-cycle, and competition

Consumer Perception

Image of a product is closely related to its price

Prestige Pricing - Higher price for quality

Odd-Even - odd suggests bargain (25.99) even suggests quality (100.00)

Target pricing - working backward from what people will pay

Supply

Demand

Price

Quantity

Equilibrium

Demand is always connected to price

Three methods of Cost Pricing

Cost Plus – price is based on cost plus desired profit

Mark-up – the difference between the retail and cost of item. (Pg 110)

Competitive market conditions-

Product Newness - Product Cycle

Pricing a new item high is called skimming price - recover cost of development.

Pricing a new item below competition is called penetration pricing.

In real- life situations, virtually all price setting is market-inspired to some extent.

Competition

Definition -Businesses that compete with price lower prices to draw customers.

Non-price competition exists when you compete with quality, service and customer loyalty.

Special Pricing Strategies

Price lining Bundle pricing Loss leader Yield-management Page 112

Price Adjustments and Regulations

Discounts and Allowances

Regulatory Laws - Sherman Anti-trust Act

Price Fixing and Predatory pricing

Chapter 6

Research and Place Decisions

Secondary Research - published data that have been collected for some other purpose - outside sources (books, articles, research companies)

Primary Research -original research conducted for a specific marketing situation.

Primary Research

Experiment Observe Survey

– Focus Groups– Questionares

Collect Data Census

Sample Data mining

– Pg 129

PLACE

“Location, Location, Location”

Channels of Distribution

DirectTelephone salesPrintTelevisionE-mail and the Internet

IndirectAgentsWholesalersRetailers

Copy chart page132

ProjectPage 139

Present tomorrow

Chapter 12 and 13

Product and Price decisions

Market Research

Role of Brands in Entertainment

Star Wars - Different Identities - Disney vs

Universal Studios

Trademarks not just logos and pictures - soundmark, motionmark

Branding on the internet

Company domain name

Copyright issues - Ipod downloads

Celebrities as brands Crossover Archived Brands

Price Decisions

Pricing Strategies (page 278)– Recovering Costs– Return on Investment– Competition Pricing– Net Profit Pricing

Television & Radio

Cost is figured by reach and frequency– On average it takes three exposures to have a

successful ad

Record labels or companies pay for air time. Radio stations can make more money from payoffs by a record company than they can from ad revenue.

If a television show can air for three years or 60 episodes it is a financial success. The real profits are generated in reruns.

Some of the longest running shows are not reruns

Film Industry

7 out of 10 films are not profitable at the box office. However, a theater generates a high gross-profit margin.

Customer Perception

In the entertainment industry, costs will determine what the customer is willing to pay.