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Sports and Entertainment Marketing 2.01 Explain the concept of marketing.
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Transcript of Sports and Entertainment Marketing 2.01 Explain the concept of marketing.
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Sports and Entertainment Marketing
2.01 Explain the concept of marketing.
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MarketingThe process of developing, promoting, pricing and
distributing products in order to satisfy customers’ needs and wants. Marketing involves all the activities necessary in getting a product from the producer to the consumer.
http://www.youtube.com/watch?v=Ft_FIonnF4s&feature=related
http://www.youtube.com/watch?v=rzPIuMWPloI&feature=related
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Marketing ConceptBusinesses become successful by directing all of
their efforts to satisfying the needs and wants of the customers.
Businesses make a profit by offering the goods and services that the consumer wants.
Recognizes the importance of the consumer in the buying process.
http://www.youtube.com/watch?v=L96lfVN4ByQ
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4 P’s of MarketingProduct – what you are sellingPrice – how much you are chargingPlace – where it is being sold, how it will
get from manufacturer to consumerPromotion – Inform, Persuade, or Remind
customers about your product
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The 7 Functions of Marketing
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The Seven Functions of MarketingMarketing Information Management (MIM)
Selling
Distribution
Product/Service Management
Promotion
Pricing
Financing
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Marketing-Information Management (MIM)
Obtaining information needed to make sound business decisions. Example: Taste tests and surveys.
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SellingDetermining consumer’s wants and needs through planned, personalized
communication (face to face, phone, internet)
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DistributionTransporting (physical distribution), storing (warehousing .vs. distribution centers), and handling of goods and services (inventory control methods,
logistics) for businesses.
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Product/Service Management
The process of developing, improving, obtaining, and maintaining the
products/services of the business to meet consumer demand.
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Promotion
Informing, persuading, or reminding potential consumers about a business’s
products/services.
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Pricing
Establishing and communicating the values of products/services to potential
consumers and determining profit for the business.
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Financing
Acquiring the money for starting and running a business.
Business loans for
upstart money, cash flow issues, or new business ventures.
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http://domo.goanimate.com/movie/0vbb_w86b_ww/1
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Toy Story
•Each Holiday Season, a toy emerges from obscurity to become the holiday item that everybody wants. Poo-Chi,
Furby, Tickle Me Elmo, Pokemon, Beanie Babies, and Cabbage Patch dolls are a few examples of this
phenomenon. You think you have an idea for a unique toy that could be the next big thing. You know marketing
is essential to your toy’s success.
•What will you do? •What does marketing entail?
•What functions of marketing must you consider to make your toy the next phenomenon?
Group Activity