Sports and Entertainment Marketing© Thomson/South-Western
Chapter Chapter Chapter Chapter
The Marketing Game Plan 6.1 The Game Plan 6.1 The Game Plan
6.2 Entertainment and Sports 6.2 Entertainment and Sports StrategiesStrategies
6.3 Mapping the Plan 6.3 Mapping the Plan
6
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Winning Strategies
Anschutz Entertainment Group (AEG) is a key player in movie exhibition
AEG dominates specific markets second largest promoter of live events in the
U.S.
AEG sells more than $500 million in tickets annually
AEG
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Lesson 6.1
The Game Plan
Goals Explain the difference between
marketing tactics and strategies. Discuss the importance of planning to
stay ahead of the competition.
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Terms tactic strategies marketing intelligence trade shows
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MARKETING TACTICS
Nike wants to be number one in their market.
Nike needs to differentiate itself from Adidas, the market leader.
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Tactics First
tactic the way a product or service is
differentiated in the minds of customers from other competing products or services
the most effective tactics are developed by salespeople tactics can work their way from
salespeople to upper management
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Strategies
strategies the process by which tactics are
implemented
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What is the difference between a tactic and a strategy?
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BEATING THE COMPETITION
“Winning the game” in business means gaining market share over competitors and making a profit. requires depth of competitive knowledge
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What Information is Needed?
marketing intelligence information gathered about competitors
Price Distribution methods Prod/srvc offerings Promo strategies
Used to ensure you are different from them – not to copy them
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pricing is very important to customers the prices of competitors can influence
buying decisions
Pricing
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marketers need to make the product purchase convenient for customers
Distribution
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knowing the product and service offerings of competitors can help a business determine how to differentiate its products
Product/Service Management
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promotional competitive analysis reveals: the product characteristics emphasized by
competitors target customers promotional budgets
Promotional Efforts
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Finding the Information
Marketing information is critical to help anticipate future moves of the competition.
Internet Observation Trade Show Customers
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efficient searching leads to effective results company name keywords
internet
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combining the insights of a variety of salespeople can provide valuable competitive information
observations
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major events where people in a related industry meet to show their products exchange ideas learn about the latest trends
valuable source of competitive information
trade shows
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customer feedback is critical for fine tuning marketing plans
can provide competitive information
customers
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Give three examples of marketing intelligence information that might be collected by a movie theater.
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Lesson 6.2
Entertainment and Sports Strategies Goals Explain the importance of learning from
customers. Discuss sports marketing strategies. Discuss entertainment marketing
strategies.
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Terms marketing plan interpretation applied research touchpoints
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DATA-DRIVEN DECISIONS
marketing plan a document that describes the tactics and
strategies that will be used to market the product or service
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the facts and recorded measures that have been gathered
raw data
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Interpretation
interpretation explaining the information so that it has
meaning drawing conclusions that relate to the
defined marketing research problem
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Applied Research
applied research conducted to solve specific problems
touchpoints the points at which the business makes contact
with the customers web site visits e-mails phone calls advertisements one-on-one sales pitches
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Explain what Peter Drucker’s definition of marketing means.
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SPORTS MARKETING STRATEGIES Fans are necessary for the longevity of
a team. Using research to form the right tactics to
attract fans is a challenge for teams.
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Fans Rule
Competition for fans is fierce. Adidas and Nike have different tactics and
strategies to compete for soccer fans. Adidas provides soccer balls for the World Cup
and promotes customizable soccer cleats. Nike is filling a niche for street-ready soccer
merchandise and is sponsoring a number of major international soccer teams.
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What drives professional sports teams’ marketing plans? Explain why.
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ENTERTAINMENT MARKETING STRATEGIES The movie and music industries use
many of the same strategies used in sports marketing to attract customers.
Determining the new tactic first and then figuring the strategies that will drive sales is the key.
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Capitalizing on Controversy
Sony carefully developed a tactic and a strategy for promoting The DaVinci Code. provided a website for religious dialogue avoided overexposure prior to the movie’s
release
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Concert Pricing Strategies
Indoor concerts are more economical to produce than outdoor concerts. A smaller indoor concert may be more
profitable than a larger outdoor concert.
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Declining profits are prompting concert promoters to re-evaluate pricing strategies.
Industry consolidation has lead to decreased competition.
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A Little Music with Your Coffee? Starbuck’s Entertainment
connects Starbuck’s brand with entertainment
By 2005, Starbucks sold 3.5 million CDs.
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Why would a coffee shop add entertainment items to its menu?
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Lesson 6.3
Mapping the Plan
Goals Explain how marketers determine
direction and focus for a marketing plan.
List and describe the components of a marketing plan.
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Terms mission statement mass market product portfolio test marketing
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KNOW WHERE YOU ARE HEADED mission statement
identifies the nature of the business and the reason it exists
All tactics and strategies should be built around the mission statement.
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A Sense of Direction
mass market a broad group of customers
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all the products a company has available at any one time
test marketing where the sales potential for a new product is
tried in a small market prior to its final release
product portfolio
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Explain the importance of a company’s mission statement to the marketing plan.
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THE PLAN
The marketing plan is a detailed document that further provides a detailed description of how the tactics and strategies will be implemented.
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Components of a Marketing Plan A marketing plan should be guided by
the current and future needs of customers.
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The Mission Statement The marketing plan must be in agreement with
the mission statement.
Marketing Information Information is gathered, analyzed, interpreted and
used to make business decisions.
Analysis
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describes product or service differentiation should pinpoint a gap that is not be filled by
another product or service
The Tactic
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describes the marketing mix Product/Service
the identified need is the basis for the development of the product or service
Strategy
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describes how the product or service will be made available to customers
The Distribution System
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The price must be set where revenues will be maximized to cover all costs and provide a profit.
Pricing
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how the product will be positioned in the minds of customers advertising publicity sales promotion personal selling
Promotional Strategies
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disclosure of all expected costs and revenues might indicate need for additional funding
Risk Management outlines possible risks and strategies for
minimizing the risks
Financing
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Timeline start with completion date and plan backwards specify event sequencing
Assignments of Responsibility specify who is responsible for each component of
the plan
Internal Communication System define how all key organizational members will be
kept informed of the plan provide a feedback mechanism
Implementation
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defines how direct sales will be handled
Review and Evaluation define mileposts for progress checks of the plan
Selling
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Look to the Future
Organizations should have future products planned while current products are still experiencing strong sales.
Marketing plans require periodic revisions.
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Why must the marketing plan include intervals for review and evaluation?
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PERFORMANCE INDICATORS EVALUATED Develop a written business plan for a start-
up business. Identify the customer base and
demographics for the target market. Demonstrate knowledge and understanding
of entrepreneurship.
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Demonstrate effective persuasive and informative communication and presentation skills.
Identify customer relations and promotion related to successful businesses.
Analyze financial data and determine appropriate pricing strategies.
Communicate research in a clear and concise manner both orally and in writing.
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THINK CRITICALLY
1. Why is a detailed business plan so important when starting a business that offers a new product or service?
2. Why is the Executive Summary the most important part of the business plan?
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