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Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing

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Page 1: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Customized Entertainment

Customized Entertainment

Chapter 7 Lesson 3Sports and Entertainment

Marketing

Chapter 7 Lesson 3Sports and Entertainment

Marketing

Page 2: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Journal EntryJournal Entry

Date: 3/10/11Objective: The student will define customizing and describe the financial impact of Baby Boomers on the entertainment industry.

Question: What age group are Baby Boomers? Why would they have an impact on the entertainment industry?

Date: 3/10/11Objective: The student will define customizing and describe the financial impact of Baby Boomers on the entertainment industry.

Question: What age group are Baby Boomers? Why would they have an impact on the entertainment industry?

Page 3: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Opening ActOpening ActFor more than a decade, regional corporations have been building cineplexes containing as many as 30 screens in suburban areas. Magic Johnson, a retired basketball legend, created Magic Johnson Theaters as a way of counteracting this trend. Johnson chooses the locations of his theaters based on the economic needs of minority neighborhoods. In February 2004, 5 theaters were opened - one each in the inner cities of Cleveland, Atlanta, Los Angeles, Houston and New York City.

For more than a decade, regional corporations have been building cineplexes containing as many as 30 screens in suburban areas. Magic Johnson, a retired basketball legend, created Magic Johnson Theaters as a way of counteracting this trend. Johnson chooses the locations of his theaters based on the economic needs of minority neighborhoods. In February 2004, 5 theaters were opened - one each in the inner cities of Cleveland, Atlanta, Los Angeles, Houston and New York City.

Page 4: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Johnson wants his theaters to be community centers focused on distribution of a personalized service to a market segment. Concession areas are stocked with food and beverages that appeal to minorities. Customizing allows marketers to promote to a specific segments of the population.

Johnson wants his theaters to be community centers focused on distribution of a personalized service to a market segment. Concession areas are stocked with food and beverages that appeal to minorities. Customizing allows marketers to promote to a specific segments of the population.

Page 5: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Think CriticallyThink Critically

What information would Magic Johnson need in order to determine locations for more movie theaters?

What information would Magic Johnson need in order to determine locations for more movie theaters?

Page 6: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Customizing ProductsCustomizing Products

One of the first steps in developing the marketing mix is to collect marketing information about the consumers of the product

Customizing is changing a product to fit the needs or wants of a particular market

One of the first steps in developing the marketing mix is to collect marketing information about the consumers of the product

Customizing is changing a product to fit the needs or wants of a particular market

Page 7: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Customization ExampleCustomization ExampleIn Southern California, Killer Entertainment provides live impromptu, or spontaneous and changing, entertainment based on audience reactions

A production can include audience participation in a comedy, drama, or murder mystery

By understanding the audience, entertainment can be customized for its tastes

In Southern California, Killer Entertainment provides live impromptu, or spontaneous and changing, entertainment based on audience reactions

A production can include audience participation in a comedy, drama, or murder mystery

By understanding the audience, entertainment can be customized for its tastes

Page 8: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Local TVLocal TV

Planning and production of shows are expensive and require a large viewing audience to attract advertisers to cover the production costs

Local television programming has been consolidated and barely exists anymore but requires knowledge of the market segment’s interests

Planning and production of shows are expensive and require a large viewing audience to attract advertisers to cover the production costs

Local television programming has been consolidated and barely exists anymore but requires knowledge of the market segment’s interests

Page 9: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Children’s ProgrammingChildren’s Programming

Children’s programming began with locally produced programs

Local news anchors or weathermen often dressed up as clowns to host the shows

The hosts often had such a strong influence on children that parents pressured broadcasters to prohibit the hosts from personally endorsing children’s products

Children’s programming began with locally produced programs

Local news anchors or weathermen often dressed up as clowns to host the shows

The hosts often had such a strong influence on children that parents pressured broadcasters to prohibit the hosts from personally endorsing children’s products

Page 10: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Sports ProgrammingSports Programming

Sports programs used to be broadcast only on a regional level until cable television

Now viewers can watch their teams through either regional sports networks or national sports networks via cable or satellite, sometimes on a pay-per-view basis

Sports programs used to be broadcast only on a regional level until cable television

Now viewers can watch their teams through either regional sports networks or national sports networks via cable or satellite, sometimes on a pay-per-view basis

Page 11: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Rising Costs of Sports Programming

Rising Costs of Sports Programming

Excessive salaries of sports figures have been pushed onto cable networks which have been pushed onto subscribers

Tiering was suggested to help with rising costs and involves specific sports programming being offered outside the basic cable or satellite package

Excessive salaries of sports figures have been pushed onto cable networks which have been pushed onto subscribers

Tiering was suggested to help with rising costs and involves specific sports programming being offered outside the basic cable or satellite package

Page 12: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Public TV and RadioPublic TV and Radio

Viewer- and listener-supported TV and radio stations generally have as their mission to entertain and educate their audiences

Usually non-profit organizations financed through grants, corporate donations, and listener contributions

Stations know their audiences and and work to please them

Viewer- and listener-supported TV and radio stations generally have as their mission to entertain and educate their audiences

Usually non-profit organizations financed through grants, corporate donations, and listener contributions

Stations know their audiences and and work to please them

Page 13: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

IntermissionIntermission

Why is different TV programming shown in different cities or regions of the United States?

Why is different TV programming shown in different cities or regions of the United States?

Page 14: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Baby BoomersBaby Boomers

Born between 1946 and 1964Over 76 million baby boomers who are said to reach their peak spending level at age 46

Their spending on leisure time and entertainment activities will continue the major economic impact started in 1946

Born between 1946 and 1964Over 76 million baby boomers who are said to reach their peak spending level at age 46

Their spending on leisure time and entertainment activities will continue the major economic impact started in 1946

Page 15: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Boomers Won’t RetireBoomers Won’t Retire

Expected to soften the line between career and retirement

Enjoy recreational activities, personal fitness, and all types of entertainment, from concerts to fine arts

These consumers have discretionary income to pay for the products and services they desire

Expected to soften the line between career and retirement

Enjoy recreational activities, personal fitness, and all types of entertainment, from concerts to fine arts

These consumers have discretionary income to pay for the products and services they desire

Page 16: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Segmenting the GroupSegmenting the Group

Knowledge of the customer’s spending habits, incomes, preferences, occupations and areas of residence can provide the marketing information needed to focus the marketing message

Baby Boomers vary greatly so marketers must be careful when targeting them

Knowledge of the customer’s spending habits, incomes, preferences, occupations and areas of residence can provide the marketing information needed to focus the marketing message

Baby Boomers vary greatly so marketers must be careful when targeting them

Page 17: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Aging PopulationAging Population

Average age of the population is increasing1994 it was 342000 it was 35.52035 it will be 39.1

Marketers have to keep this in mind

Average age of the population is increasing1994 it was 342000 it was 35.52035 it will be 39.1

Marketers have to keep this in mind

Page 18: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Marketing MythsMarketing Myths

The United States has a long history as a “melting pot” that welcomes all immigrants. However, for marketing purposes it was primarily viewed as a white, Anglo-Saxon nation. This will change if the latest studies by the census bureau prove to be accurate. The bureau estimates the fastest growing segment of society to be Hispanic.

The United States has a long history as a “melting pot” that welcomes all immigrants. However, for marketing purposes it was primarily viewed as a white, Anglo-Saxon nation. This will change if the latest studies by the census bureau prove to be accurate. The bureau estimates the fastest growing segment of society to be Hispanic.

Page 19: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

This group contributed 32 percent of the nation’s population growth from 1990 to 2000. It is expected to contribute 39 percent of the nation’s growth from 2000 to 2010, 45 percent from 2010 to 2030, and 60 percent from 2030 to 2050. By 2010, the Census Bureau estimates that Hispanic spending in the United States will be nearly $200 billion.

This group contributed 32 percent of the nation’s population growth from 1990 to 2000. It is expected to contribute 39 percent of the nation’s growth from 2000 to 2010, 45 percent from 2010 to 2030, and 60 percent from 2030 to 2050. By 2010, the Census Bureau estimates that Hispanic spending in the United States will be nearly $200 billion.

Page 20: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Think CriticallyThink Critically

What does this information tell entertainment marketers and marketers in general?

What does this information tell entertainment marketers and marketers in general?

Page 21: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Entertaining the Boomers

Entertaining the Boomers

Boomers are finding more time for entertainment

Large increase in movie theater audiencesBoomers account for 1/3 of all attendance

Boomers like to see stars of their own age

Boomers are finding more time for entertainment

Large increase in movie theater audiencesBoomers account for 1/3 of all attendance

Boomers like to see stars of their own age

Page 22: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Understanding All Parts of the Group

Understanding All Parts of the Group

Marketers must be careful not to exclude part of the group

To assume that all people in a large group have the same interests is a costly mistake

Boomers will continue through 2020 to be a major target of entertainment marketing

Marketers must be careful not to exclude part of the group

To assume that all people in a large group have the same interests is a costly mistake

Boomers will continue through 2020 to be a major target of entertainment marketing

Page 23: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

IntermissionIntermission

Why are Baby Boomers important to entertainment marketers?

Why are Baby Boomers important to entertainment marketers?

Page 24: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

EncoreEncore1. An advantage of customized entertainment

over entertainment for the masses isa. More people will buy itb. It can be impromptu, based on the audiencec. No information is needed about the customersd. None of the these

2. Baby Boomers are important to entertainment marketers becausea. They have discretionary incomeb. They are interested in leisure-time activitiesc. They are expected to be active throughout

retirementd. Of all of these

1. An advantage of customized entertainment over entertainment for the masses isa. More people will buy itb. It can be impromptu, based on the audiencec. No information is needed about the customersd. None of the these

2. Baby Boomers are important to entertainment marketers becausea. They have discretionary incomeb. They are interested in leisure-time activitiesc. They are expected to be active throughout

retirementd. Of all of these

Page 25: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

3. If Baby Boomers are the largest age group in the nation, why is so much sports and entertainment advertising aimed at 12- to 24-year olds?

4. Break down the Baby Boomers into four different niche markets based on age and gender. Name two sports or entertainment products or services to market to each niche.

3. If Baby Boomers are the largest age group in the nation, why is so much sports and entertainment advertising aimed at 12- to 24-year olds?

4. Break down the Baby Boomers into four different niche markets based on age and gender. Name two sports or entertainment products or services to market to each niche.

Page 26: Customized Entertainment Chapter 7 Lesson 3 Sports and Entertainment Marketing Chapter 7 Lesson 3 Sports and Entertainment Marketing

Class WorkClass WorkMake a list of people you know that are Baby Boomers

What niche market do these people fall into?

What types of sports and entertainment products/events do they enjoy?

What products/events would you try to market to them?

Make a list of people you know that are Baby Boomers

What niche market do these people fall into?

What types of sports and entertainment products/events do they enjoy?

What products/events would you try to market to them?