Entertainment Marketing PlanEntertainment Marketing Plan
Entertainment Marketing:Entertainment Marketing:Education and CareersEducation and Careers
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Chapter Objectives
Explain an entertainment marketing plan.
Describe a business plan.
Explain a promotional plan.
Describe educational preparation for a career in marketing.
Identify career areas in entertainment marketing.
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The Importance of a Marketing Plan
A well thought-out, sensible marketing plan is essential for success in entertainment marketing.
Marketing plans present an organized and informed approach to marketing all products.
The two main parts of a marketing plan are:– Market overview– Market strategy
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Market Overview and Market Strategy
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Market Overview Market Strategy
• Economic climate
• Market trends
• Current goods or services
• Current target customers and buying habits
• Current distribution channels
• Competition
• New opportunities
• Product– Positioning a product to
make it stand out
• Price– Pricing a product
competitively and highlighting value
• Place or distribution– Making a product easily
accessible
• Promotion– Advertising a product’s
qualities and brand
The Importance of a Marketing Plan
Marketing plans are usually developed before the launch of a new project, or at the beginning of a fiscal yearfiscal year.
fiscal year a 12-month accounting period
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Developing a Business Plan
Marketing plans are one element of an overall business planbusiness plan.
business plan a proposal that describes a new business to potential investors and lenders
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Business plans are a way of presenting viabilityviability.
viability the possibility of successful operation and profitability of a business
Elements of a Business Plan
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I. Executive Summary
II. Mission Statement
III. Industry Overview
IV. Competitive Analysis
V. Marketing Plan
VI. Organization Plan
VII. Operating Plan
VIII. Financial Plan
IX. Appendices and Exhibits
I. Executive Summary
II. Mission Statement
III. Industry Overview
IV. Competitive Analysis
V. Marketing Plan
VI. Organization Plan
VII. Operating Plan
VIII. Financial Plan
IX. Appendices and Exhibits
Developing a Promotional Plan
A promotional planpromotional plan can be part of a business plan.
promotional plan a detailed strategy of how to focus advertising and marketing communication efforts
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The major goals of a promotional plan are:
– Create or identify a brand SloganSlogan
slogan a catch phrase or small group of words that are combined in a special way to identify a product or company – Communicate the brand to
consumers Media mixMedia mix
media mix a combination of two or more promotional methods
Developing a Promotional Plan
Promotional methods used to communicate a brand include:
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Slogan
Logo
Advertising
Marketing materials
Sales and promotion
Publicity
Trade shows
The Whole Package
A business plan outlines the business.
The marketing plan outlines the product and how to sell it.
The promotional plan describes exactly which channels will be used to communicate a marketing message to target customers.
All three plans work together to develop a profitable business.
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Describe a marketing plan.
Name two events that could generate publicity for an entertainment person, company, or product.
What are some promotional methods used to communicate a brand?
1.
2.
3.
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The Value of Education
To be an entertainment marketing professional, you need to know about marketing and marketing plans, as well as the entertainment industry.
Formal education is necessary, but much of what you need to know can be learned through work experience.
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Educational Resources
internship temporary paid or unpaid position giving students direct work experience and exposure to various aspects of a career
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Educational resources include:
High school courses
Undergraduate and graduate programs
InternshipsInternships and work experience
continued
Educational Resources
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Industry training programs, workshops, and seminars
Industry publications and journals– Variety
• The entertainment industry
– TMS News• Newsletter from MOBE (Marketing Opportunities in Business
and Entertainment)
– Internetnews.com• Internet advertising news
– Newsreel.com• Headlines on entertainment and marketing
Entertainment Marketing Careers
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Career areas in entertainment marketing include:
Public RelationsPublic Relations
AdvertisingAdvertising
MerchandisingMerchandising
Brand DevelopmentBrand Development
Facility DesignFacility Design
Sponsorship and EndorsementContract Negotiation
Sponsorship and EndorsementContract Negotiation
Event Planning and MarketingEvent Planning and Marketing
Ticket Group Sales and DistributionTicket Group Sales and Distribution
Publicity and PromotionsPublicity and Promotions
Product and Market ResearchProduct and Market Research
Licensing and CopyrightLicensing and Copyright
Talent ManagementTalent Management
Entertainment Marketing Careers
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Strategies for building a career in entertainment marketing include:
Identify your areas of interest.Identify your areas of interest.
Identify your skills.Identify your skills.
Map out your education.Map out your education.
Research the companies you want to work for.Research the companies you want to work for.
Make contacts and network.Make contacts and network.
Your Entertainment Career
A Web site called EntertainmentCareers.net offers a forum for job-seekers to test their mettle in jobs ranging from acrobat to legal counsel. Unlike other job sites, many entertainment-specific career sites focus on the part-time, contract, and seasonal jobs that are common to this diverse industry.
The entertainment industry has embraced the Internet as a new medium to deliver information to consumers. It’s also embraced the Internet as a means to find and recruit talent.
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For more information on sports and entertainment marketing, go to marketingseries.glencoe.com.
Entertainment Marketing Careers
networking the practice of finding contacts among people you know, including family and friends, employers, and professional people you know personally
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Strategies to help you focus on areas within entertainment marketing include:
Identify your interests.
Get experience.
Research.
Make contact.–networkingnetworking
Name four areas of entertainment marketing careers.
What are some ways to find out about personalities and companies in the entertainment world?
What is an informational interview?
1.
2.
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3.
Explain the importance of a marketing plan.
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Describe the components of a marketing plan.
A well thought-out, sensible marketing plan enables successful entertainment marketing, budget approval, and investments.
1. A marketing plan consists of a market overview and a marketing strategy.
2.
Name the elements of a business plan.
executive summary, mission statement, industry overview, competitive analysis, marketing plan, organizational plan, operating plan, financial plan, and appendices and exhibits
3.
Checking Concepts
1.
2.
3.
continued
Define branding.4.
Branding is the first step in a promotional plan that creates identification with a business name or image in the consumer’s mind.
4.
Through education, you can accumulate the knowledge, information, and skills necessary to succeed in your chosen field.
5.Explain the value of education.
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Identify the resources that can provide an entertainment marketing education.
high school courses, undergraduate and graduate degrees, internships and work experience, industry training programs, workshops, and seminars, and industry publications and journals
6. Answers will vary but networks may consist of family and friends, employers, and professional people the student knows personally.
7.
Checking Concepts
5.
6.
continued
List three people in your network.
7.
Answers will vary but should include two career areas and give valid reasons.
8.
Identify two careers in entertainment marketing that interest you and explain why you think they sound interesting.
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Critical Thinking
Checking Concepts
8.
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