Bell RingerWe will collect LAST WEEK’S bell ringers and THIS WEEK’s bell ringers on Friday.

What price DID NOT work for your virtual business team on Thursday?

What prices DID work for your virtual business team on Thursday?

If you were absent on Thursday, answer….Define MARKUP PERCENTAGE.

Bell Ringer Answer

Agenda

Bell Ringer / Morning Announcements – 5 mDiscuss Team Uniform Assignment on Edmodo –

5 mComplete and turn in team uniform assignment

via Edmodo – 50 m

Table of ContentsTopic Page #Digital Media Trends 4Chapter 8.1 Vocabulary and Notes 5Recreational Sports 6Chapter 8.2 Vocabulary and Notes 7Chapter 8 Assessment 8Chapter 8.3 and 8.4 Vocabulary 9Virtual Business – Lesson 1 Questions 10Virtual Business – Lesson 1 Vocabulary 11Supply and Demand 12Chapter 9.1 Vocabulary and Notes 13Marketing Math 14Chapter 9.2 Vocabulary and Notes 15Chapter 9 Assessment 16Virtual Business – Lesson 2 Vocabulary 17Virtual Business – Lesson 2 Questions 18Chapter 10.1 Vocabulary and Notes 19Promotions in Sports and Entertainment 20

Learning Objectives

• Define each vocabulary word and provide a sufficient example

• Describe the goals of promotion• List and define the 4 elements of promotion

The Purpose of Promotion

• Promotion is the process of making customers aware of a product, service, or event.

• The primary goal of promotion is to increase sales, both by winning new customers and by persuading regular customers to remain loyal.

Promotional Goals

• The main goal of promotion is to increase sales.

• Other goals include:– Increasing customer usage– Maintaining customer loyalty– Building a fan base– Educating potential customers– Overcoming resistance of hesitant first-time

buyers

Top 10 Minor League Promotions

10. Office Space Night9. Popsicle Night8. Costanza Night7. Who Wants to be a Turkish Millionaire6. Bellies and Baseball: A Salute to Pregnancy5. Liposuction Giveaway4. Nobody Night3. Awful Night2. Silent Night1. Auctioned at Bat

Promotional Elements

• Advertising• Publicity• Sales Promotions• Personal Selling

Advertising

• Advertising A paid form of communication delivered by a product maker or seller to consumers.– Effective advertising will catch the audience’s

attention and clearly explain the benefits of a good product. It will also let consumers know where they may purchase the product.

Advertising Techniques

• Nostalgia– Plainfolks, back-to-nature, just the way grandma used to

make it, back in the good old days• Bandwagon– Everyone who is anyone buying this product. Don’t be the

only one without it. Don’t be left out.• Transfer/Fantasy– Superheros, white knights, green giants, super athletes,

beautiful people, rich people are featured. Advertisers hope that the consumer will tend to transfer these qualities to the products and themselves and purchase the item.

Advertising Techniques

• Humor– People may tend to remember an ad if it makes them laugh and

may purchase the product because of the positive association with it.

• Sense/Sex Appeal– Sounds of pictures that appeal to the senses are featured.

• Statistics– People tend to be impressed with “facts” and statistics even in

they have little or no meaning.• Testimonial

– Important or well-known people testify that they use the product and so should you.

Product Placement

• Product Placement when a product is integrated into the plot of a movie or television show.

Advertising

• Product Placement A product is integrated into the plot of a movie or television show.– Sometimes a character will simply use the product

and then place it in plain view for the audience to see or the camera may zoom in on the brand name of the product.

Product Placement Gone Bad

• Hangover II– If Warner Bros. ends up losing the case filed by

Louis Vuitton, it could greatly hurt the studio. The luxury brand wants the studio to surrender all copies of the film in addition to damages.

Publicity

• Publicity Any unpaid media attention, both negative and positive about a business and its products, services, or events.– Press Releases, Speeches, Letters to the Editor,

Community Involvement through volunteer work and donations to charitable and social causes.

• Examples:– Tim Tebow and the Jets– Lady Gaga

Sales Promotions

• Sales Promotions Additional incentives offered for a limited time to encourage consumers to buy a product.– Limited-time memberships, giveaways, coupons,

free samples, etc.

Personal Selling

• Personal Selling An in-person, face-to-face communication between a seller and a customer.

• A knowledgeable seller can offer information, demonstrate the product, make comparisons with a similar product, tell stories about personal experiences with the product, and answer any questions that may arise.

Assignment

• Choose three (3) print, television, or Internet ads for sports and entertainment products, services, or events. Examine the components of the ads. For each ad, list the forms of media used, the technique, and the action the ad wants you to take. Identify the target market for the ad and a give a brief explanation of what led you to this decision.

Left-Hand Activity

1. Describe at least THREE (3) promotional events that a team in Kentucky or Indiana participates in.

1. ie: Louisville, Kentucky, Riverbats, Colts, Pacers, etc

2. Describe ONE (1) commercial and identify the advertising techniques that the company used to entice consumers.

3. Find one article of a celebrity that has recently received publicity (good or bad) and briefly describe that article.