chapter 3 n what is sports marketing? n name different types of players. – i.e. amateur vs...
TRANSCRIPT
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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?
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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.
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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.
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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.
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Types of Entertainment
Movies Theme Parks Television Radio Music Performing Arts Internet/Computers Others - circus, opera, ballet
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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”
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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
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Edutainment
Recreation-based entertainment linked to education– Museums, Zoos, Historical places
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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
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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
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Chapter 5Product Development
Seven step method
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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
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Product Life Cycle
Introduction
Growth
Maturity
Decline
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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
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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
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Supply
Demand
Price
Quantity
Equilibrium
Demand is always connected to price
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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-
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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.
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In real- life situations, virtually all price setting is market-inspired to some extent.
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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.
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Special Pricing Strategies
Price lining Bundle pricing Loss leader Yield-management Page 112
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Price Adjustments and Regulations
Discounts and Allowances
Regulatory Laws - Sherman Anti-trust Act
Price Fixing and Predatory pricing
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Chapter 6
Research and Place Decisions
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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.
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Primary Research
Experiment Observe Survey
– Focus Groups– Questionares
Collect Data Census
Sample Data mining
– Pg 129
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PLACE
“Location, Location, Location”
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Channels of Distribution
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DirectTelephone salesPrintTelevisionE-mail and the Internet
IndirectAgentsWholesalersRetailers
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Copy chart page132
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ProjectPage 139
Present tomorrow
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Chapter 12 and 13
Product and Price decisions
Market Research
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Role of Brands in Entertainment
Star Wars - Different Identities - Disney vs
Universal Studios
Trademarks not just logos and pictures - soundmark, motionmark
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Branding on the internet
Company domain name
Copyright issues - Ipod downloads
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Celebrities as brands Crossover Archived Brands
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Price Decisions
Pricing Strategies (page 278)– Recovering Costs– Return on Investment– Competition Pricing– Net Profit Pricing
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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.
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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
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Film Industry
7 out of 10 films are not profitable at the box office. However, a theater generates a high gross-profit margin.
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Customer Perception
In the entertainment industry, costs will determine what the customer is willing to pay.