customized entertainment chapter 7 lesson 3 sports and entertainment marketing chapter 7 lesson 3...
TRANSCRIPT
Customized Entertainment
Customized Entertainment
Chapter 7 Lesson 3Sports and Entertainment
Marketing
Chapter 7 Lesson 3Sports 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?
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.
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.
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?
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
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
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
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
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
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
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
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?
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
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
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
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
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.
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.
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?
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
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
IntermissionIntermission
Why are Baby Boomers important to entertainment marketers?
Why are Baby Boomers important to entertainment marketers?
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
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.
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?