What Is Sports and Entertainment Marketing?
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Transcript of What Is Sports and Entertainment Marketing?
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WHAT IS SPORTS AND ENTERTAINMENT
MARKETING?1.1 Marketing Basics1.2 Sports Marketing
1.3 Entertainment Marketing
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Winning Strategies From $50 to $4 Million
Explain the relationship between persistence and success as indicated.
An entrepreneur is someone who takes risks to start a new business. How is Michelle Kwan’s father an entrepreneur?
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Lesson 1.1Marketing Basics
Goals
Describe the basic concepts of marketing.
Explain the marketing mix.
Define the six core standards of marketing.
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OPENING ACT ~ Pg. 4 Work in SMALL Groups (2-3)
Identify at least 4 advertising campaigns that feature celebrities or athletes.
How does the campaign effect what you think about the product?
If you needed the product, would you buy the celebrity endorsed product? Why or Why Not?
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WHAT IS MARKETING? marketing
the creation and maintenance of satisfying exchange relationships
American Marketing Association (AMA): “Marketing is - Planning and executing the
conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individuals and organizational objectives.”
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WHAT IS MARKETING? Creation
Product development (service)
Maintenance Daily business operations
Satisfying Meets the needs of both businesses and
customers
Relationships Both parties receive something of value
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Satisfying Customer Needs
identify your customer identify the needs of your customer develop superior products operate your business profitably
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Sports and Entertainment Marketing
Marketers of sports and entertainment marketing must assess: consumer demand the competition the financial valuation of the goods/services they
offer
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What is marketing?
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THE MARKETING MIX marketing mix
how a business blends the following four elements product distribution price promotion
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Product what a business offers to satisfy needs
goods and services
Distribution the locations and methods used to make
products available to customers
Price amount customers pay for products
Promotion ways to make customers aware of products encourages customers to buy
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Marketing Mix Considerations
discretionary income the amount of money individuals have
available to spend after paying for necessities
Striking the right balance between price, distribution and promotion is important.
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A Marketing Mix Example in the Sports Industry
The product the Super Bowl offers is a game between the best teams of the AFC and NFC.
Consumer costs extend beyond ticket prices and include travel and lodging expenses.
Distribution includes the location of the host city and ticket sales.
Promotion involves media outlets and related-product contests.
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A Marketing Mix Example in the Entertainment Industry
State fairs need to Product/service: appeal to rural and urban
residents Price: set reasonable ticket prices Place/Distribution: determine fair location Place/Distribution: plan ticket sales Promote: advertise about the fair
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What are the elements of the marketing mix?
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CORE STANDARDS OF MARKETING
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Distribution: involves determining the best way to get a
company’s products and services to customers.
Entertainment: Best Buy: known for selling Electronics and
Appliances so major brands with them
Sports: Selecting the right location Making tickets available online
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Marketing-Information Management
gathering and using information about customers to improve business decision making
Expanding to a new country? Learn about their culture first!
Predicting consumer demand, estimating quantities for merchandise production
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Pricing the process of establishing and communicating to
customers the value or costs of goods and services
Ticket to game – Directly related to Consumer Demand High Demand = Higher Prices Lower Demand = Lower Prices
Prices based on: Cost of producing the goods and
sports and entertainment events.
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Product/Service Management
designing, developing, maintaining, improving and acquiring products /services to meet customer needs
Fisher Price – Tests toys with kids and parents before committing to producing them.
Sports Events – evaluate if fans had a good time and if any changes need to be made to help increase ticket sales.
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Promotion
using a variety of communication forms, including advertising, to distribute information about products, services, images and ideas to achieve a desired outcome
Coupons on the back of Game Tickets Special Promo at participating restaurant if
the Home Team wins, scores # of points, etc.
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Selling
any direct and personal communication with customers to assess and satisfy their needs
Not only satisfying customer now, but also anticipating their future needs
Car Dealership Salesman
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Financing
A company must budget for its own marketing activities and provide customers with assistance in paying for the company’s products and services.
Obtain financing from sponsors and investors
Willing to spend large sums to be visible at events
* * * not 1 of 6 core standards but closely related * * *
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List and provide an example of each core standard of marketing.
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Encore Page 11
# 1 – 4
On your own or with 1 partner
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Lesson 1.2Sports Marketing
Goals
Define sports marketing.
Explain the value of sports marketing to the economy.
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WHY SPORTS MARKETING? Spectators are POTENTIAL CUSTOMERS What might you buy at the game???
Apparel Food Autographed items Merchandise
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WHY SPORTS MARKETING? Sports fans sometimes have more in
common than just the sport…
demographics common characteristics of a group
age, marital status, income, education
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WHY SPORTS MARKETING? sports marketing
Using sports to market products Capitalizes on the popularity of the sport
Marketers research demographics and spending habits to understand their fans and maximize profit
The Goal: use the right marketing mix to meet customer needs while generating profit. Must consider:
New opportunities Gross impression Timing
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New Sports, New Opportunities
continual innovation provides new opportunities
New sports = new opportunities More endorsements More marketing
New sports markets = new audiences More fans, more sales More merchandise
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Gross Impression gross impression
the number of times per advertisement, game, or show that a product or service is associated with an athlete, team or entertainer
Message is usually subtle
Every time you see a product or company logo On back of shoes In a movie scene License plate holder
Your brain remembers the images Will you remember come purchase time?
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Timing
Fans want products and services that identify them with winning teams and athletes.
Marketing efforts may need to be tweaked based on changes in winning trends.
Losing streaks can cost teams a lot of $$$
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Why are gross impression and timing important in sports marketing?
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THE VALUE OF SPORTS MARKETING
Sports marketing is a multi-billion-dollar global industry that has a definite impact on the economy.
Business is also generated for: Restaurants, Hotels, Gas stations / Airlines
Jobs are created: Parking attendants, security, vendors, marketing
manager Venues require:
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Emotional Value Emotional connections to teams motivate
fans to buy tickets to games.
Marketers try to appeal to fans emotions
Passion + Winning = More Tix Sold Frustration + Losing = Less Tix Sold
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So Many Channels Goal = Most viewers for least amount of
money
Networks aim for right mixture of programs to reach audiences, attract sponsors & maximize profit Reality shows more popular than sitcoms? Sporting events more popular than both?
TV Networks will pay top dollars to obtain exclusive broadcasting rights to high profile sporting events.
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Name three ways that sporting events help boost the local economy and/or national economy.
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Lesson 1.3Entertainment Marketing
Goals
Define entertainment.
Describe the impacts of advances in entertainment technology on entertainment marketing.
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Opening Act
Page 17 2-4 people in a group.
Write a list of 10 products Be prepared to defend your answers
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ENTERTAINMENT FOR SALE
Busy schedule provide little time for leisure…
entertainment marketing influencing how people choose to spend their
time and money on entertainment
Entertainment is the Product or
Entertainment markets the Product
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What Exactly is Entertainment?
entertainment whatever people are willing to spend their money
and spare time viewing rather than participating in
Movies Bowling Museums Theater Mini Golf Carnivals Concerts Ice Skating Vacations Circus State Fairs
Sports are entertaining too but we provide a separate category to discuss professional sports marketing
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What are the two ways of looking at entertainment marketing?
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EVOLUTION OF ENTERTAINMENT AND ENTERTAINMENT
MARKETING At the beginning of the 20th century, audiences
needed to travel to the entertainment source. Live theaters, ballet, opera, concerts Audience feedback was instantaneous and live. Marketing limited: posters, newspaper, word of mouth
Technology distanced the entertainers from their audiences. Moving pictures Television Internet Marketing possibilities are endless…
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The Beginning of Change
First moving picture – Britain 1888
First projected movie in Café – 1895
First movie with sound – Jazz Singer 1927
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The Beginning of Change Steamboat Willie – 1928
Snow White & Seven Dwarfs – 1938 1st full-length animated film
Disneyland – Anaheim 1955
Disneyland Theme Park represented a new approach to the marketing mix of entertainment.
Combined live arts and recorded arts.
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The Big Eye in Every Room The Early Days of Television & Marketing
9 stations and 7,000 working TVs after WWII
Oct 1945 – 25,000 people gathered at Gimbel’s in Philadelphia to watch the first demonstration of TV
TV changed the marketing of entertainment in a profound way.
1946 – NBC & Gillette CompanyStaged first televised sports spectacular Heavyweight Boxing Match(150,000 on 5,000 TV = avg 30 ppl per TV)
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The Big Eye in Every Room
Television’s Increasing Influence Pricing of commercials tied directly to ratings Ratings: the # of viewers the programming
attracted 9 stations grew to 98 stations by 1949
Sept 9, 1956 – 82% of all TVs in the US were tuned into the Ed Sullivan Show (weekly Sunday evening variety show, Elvis was the special guest that week)
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Change Accelerated Technology improvements, including the
internet, have facilitated distribution of sports and entertainment to the masses.
What was available to few is now available to many… Entertainment shared around the world.
New technologies: HD Smart Tvs 3D DVRs
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Technology and Customer Feedback
Audiences can use a variety of communication technologies to provide entertainment feedback. Texting, Twitter, etc Allows entertainment company to gather info
and use it to refine /improve the product (show).
Reality shows allow consumers to create their own endings by voting.
American Idol America’s Got Talent Dancing with the Stars
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Name a few benefits of television to marketers and advertisers.
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