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Sports and Entertainment Marketing

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Sports and Entertainment Marketing 2.01 Explain the concept of marketing. Marketing The process of developing, promoting, pricing and distributing products in order ... – PowerPoint PPT presentation

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Title: Sports and Entertainment Marketing


1
Sports and Entertainment Marketing
2.01 Explain the concept of marketing.
2
Marketing
  • The 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.

3
Marketing Concept
  • Businesses 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.

4
The Seven Functions of Marketing
1.Marketing Information Management 2.Product/Servi
ce Management 3.Financing 4.Pricing 5.Promotion 6.
Selling 7.Distribution
5
Marketing-Information Management
  • Obtaining information needed to make sound
    business decisions. Example Taste tests and
    surveys.

6
Product/Service Management
  • A. Risk Management preventing or reducing
    business loss.
  • B. Purchasing Buying goods and services for use
    in the day-to-day about where a product is sold.
  • Concepts and procedures necessary to obtain,
    develop, maintain, and improve a product or
    service mix in response to market opportunities.

7
Financing
  • Obtaining money needed to finance the operation
    of a business. This includes bank loans and
    offering credit to customers.

8
Pricing
  • Determining a value to charge for goods and
    services. It is important to consider
    competition and what consumers are willing and
    able to pay.

9
Promotion
  • Communication used to inform or remind people
    about a businesss products. Promotion also
    involves persuading customers to purchase a
    product.

Your AD here!
10
Selling
  • Determining customer needs and wants through
    planned, personalized communication intended to
    influence purchase decisions and ensure
    satisfaction.

11
Distribution
  • The transporting, storing and handling of goods
    on their way from the manufacturer to the
    consumer. This includes the decisions about
    where to sell a product.

12
The Four Ps of Marketing
  • The marketing mix, known as the four Ps, is a
    combination of decisions a business must make in
    order to best reach its target market

13
PRODUCT
  • The goods and services a business will offer to
    its customers
  • A. Choice of product Will the business offer a
    variety of products?
  • B. Packaging Does the packaging protect the
    product and provide necessary information about
    the product?

14
PRODUCT continued . . .
  • C. Level of quality What level of quality will
    the business ensure?
  • D. Brand name What brand name products will the
    business offer?
  • E. Warranty Will the business offer a warranty
    to its customers to ensure satisfaction?

15
PRICE
  • The amount a business charges customers for their
    products
  • A. Price setting. Price will be set based on
    product demand, cost, and competitors actions.
  • B. Terms. Will the company only accept cash?
    Will the company extend credit? What type of
    credit will the company extend?

16
PRICE continued . . .
  • C. Discounts. Will the business offer discounts
    to employees? Locals? Will the business
    discount merchandise at certain times of the year?

17
PLACE (distribution)
  • Making products available at the right time and
    location.
  • A. Channels of Distribution the path a product
    takes to get from the producer to the consumer
  • B. What specific stores will offer the products?
    (wholesaler, retailer, department, discount, etc.)

18
PLACE continued . . .
  • C. What method of transportation will be used to
    get the product from the producer to the
    consumer? (truck, train, place, boat, pipeline)
  • D. How will inventory be handled and controlled?
    (methods- physical, storing, checking, or
    receiving)

19
PROMOTION
  • Informing, reminding, and persuading customers of
    the goods and services available to them.
  • A. What will the message be?
  • B. When will the message be delivered?

20
PROMOTION continued . . .
  • C. Where will the message be delivered?
  • D. What inducements will be used to encourage
    customers to purchase the product?
  • E. How will the message be delivered?

21
Those are the functions and 4 Ps of Marketing!
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