sports and entertainment marketing © thomson/south-western chapter 7 slide 1 bell work please read...

Sports and Entertainment Marketing© Thomson/South-Western

Chapter 7Slide 1

Bell WorkPlease read page 171 and be prepared to

discuss.


Chapter Chapter Chapter Chapter

The Product Is Sports and Entertainment 7.1 The Product Mix 7.1 The Product Mix

7.2 Recruiting Athletes and 7.2 Recruiting Athletes and Entertainers Entertainers

7.3 Customized Entertainment 7.3 Customized Entertainment

7.4 Product Marketing Strategies 7.4 Product Marketing Strategies

7


Chapter 7Slide 3

Winning Strategies

Brad Pitt has used his fame to draw attention to those in need. children with AIDS in Africa the plight of Haitian children global poverty conditions helped sponsor architectural competition to

rebuild part of New Orleans

Fame and Fortune Used to Benefit Those in Real Need


Chapter 7Slide 4

Lesson 7.1

The Product Mix

Goals Define product mix, product extension,

and product enhancement. List and describe the components of

the product mix.


Chapter 7Slide 5

Terms product mix product extensions product enhancements product line brand trademark licensed brand


Chapter 7Slide 6

WHAT IS A PRODUCT MIX?

tangible parts physical features that can be seen and felt

intangible parts the nonphysical service features


Chapter 7Slide 7

the total assorted features associated with the product brand name various products offered under the brand product packaging

product extensions items added to a product to make it more

attractive to the target market guarantees warranties instructional CDs

product mix


Chapter 7Slide 8

Basic vs. Enhanced Product

product enhancements features added to the basic product that

satisfy additional needs and wants with the same purchase

add value to the product and may increase the purchase price


Chapter 7Slide 9

Provide three examples of a product enhancement.


Chapter 7Slide 10

PRODUCT MIX COMPONENTS

Product mix includes product line, packaging, and brand development.


Chapter 7Slide 11

Product Line

product line a group of similar products with slight

variations to satisfy the different needs of consumers


Chapter 7Slide 12

Packaging

Product packaging components to consider include ease of use safety accessibility environmental friendliness


Chapter 7Slide 13

Brand brand

the name, symbol, word, design, or combination of these elements that identifies a product, service, or company

trademark the legal protection of words and symbols used by

a company licensed brand

a well-known name and/or symbol established by one company and sold for use by another company


Chapter 7Slide 14

nonrecognition rejection recognition preference insistence

The five stages of brand recognition are


Chapter 7Slide 15

What are the components of the product mix?


Chapter 7Slide 16

Bell Work

Do you think a coach that does not have a good graduation rate should be able to keep his job at a higher education institution?


Chapter 7Slide 17

Lesson 7.2

Recruiting Athletes and Entertainers

Goals Define the bottom line for sports. Explain the high cost of sports and

entertainment events.


Chapter 7Slide 18

Terms blue-chip athletes NCAA fringe benefits


Chapter 7Slide 19

THE BOTTOM LINE FOR SPORTS blue-chip athletes

excellent athletes demonstrate good character and leadership

qualities on and off the field


Chapter 7Slide 20

The bottom line for business is profit. Winning teams generate profit.

The bottom line for sports is winning.


Chapter 7Slide 21

NCAA Regulations

NCAA a voluntary organization through which the

nation’s colleges and universities govern their athletics programs


Chapter 7Slide 22

Compensation for Athletes?

Athletes receive scholarships and grants for their college education.

After signing with an agent, a college athlete can no longer participate in college sports.

In some states, proposals have been brought to the legislature to pay college athletes.


Chapter 7Slide 23

What is the bottom line for sports and how is it related to the bottom line for business?


Chapter 7Slide 24

THE COST OF SUCCESS

Success requires skilled coaches top-notch players popular entertainers


Chapter 7Slide 25

Attracting and Keeping Coaches The best coaches can command

annual salaries in excess of $1 million. fringe benefits

incentives received in addition to base salary


Chapter 7Slide 26

Attracting and Keeping Star Athletes Competition for top athletes is fierce. Recruiters compete with professional

teams as well as with other colleges. Recruiters need a well refined sales

and marketing effort to attract talent to their schools.


Chapter 7Slide 27

The Price for Top Musicians and Other Entertainers Popular performers can attract large

enough crowds to make an event profitable.

Popular celebrities help increase the advertising revenue of their television shows.


Chapter 7Slide 28

Marketing Women’s Sports

In recent years, women’s sports have grown in popularity.

Relative to male counterparts, women receive far less pay.

Creative marketers may develop new products to appeal to females who are relatively new sports fans.


Chapter 7Slide 29

Why is it important for young, talented, and highly sought-after athletes to hire trustworthy agents to represent them?


Chapter 7Slide 30

Bell Work

Write down three cable companies that are direct towards a specific target market.


Chapter 7Slide 31

Lesson 7.3

Customized Entertainment

Goals Define customizing. Describe the financial impact of Baby

Boomers on the entertainment industry.


Chapter 7Slide 32

Terms customizing impromptu tiering


Chapter 7Slide 33

CUSTOMIZING PRODUCTS

customizing changing a product to fit the needs or wants

of a particular market

--


Chapter 7Slide 34

spontaneous and changing

impromptu


Chapter 7Slide 35

Local TV American Style

Although local programming is less expensive to produce, it has fallen out of favor with major networks.


Chapter 7Slide 36

Because hosts of locally produced TV shows had such a large impact on children, parents requested that hosts not endorse products. Advertisers lost interest in sponsoring locally

produced children’s shows.

Children’s Programming


Chapter 7Slide 37

Excessive salaries of sports figures have helped drive up the costs of television coverage of sporting events.

tiering specific sports programs will be offered

outside the basic cable or satellite package

Sports Programming


Chapter 7Slide 38

Public TV and Radio

Public TV and Radio are viewer- and listener-supported. programming is tailored to local audiences


Chapter 7Slide 39

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


Chapter 7Slide 40

MARKETING TO BABY BOOMERS Baby Boomers, born between 1946 and

1964, are one of the best-known market segments.

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Chapter 7Slide 41

Boomers Won’t Retire

Baby Boomers have the discretionary income to pay for the products and services they desire.


Chapter 7Slide 42

Segmenting the Group

The U.S. population is aging. Marketers will need to focus their efforts

on this aging market.


Chapter 7Slide 43

Entertaining the Boomers

Baby Boomers are increasing their movie attendance.


Chapter 7Slide 44

Understanding All Parts of the Group Through 2002, Baby Boomers will

continue to be a major target of entertainment marketing.

As the Boomer group is so large, marketing messages need to be developed for specific subgroups of Boomers.


Chapter 7Slide 45

Why are Baby Boomers important to entertainment marketers?


Chapter 7Slide 46

Bell Work

What products do you use now that you think will be around in 20 years? What products do think will not be around in 20 years? Why?


Chapter 7Slide 47

Lesson 7.4

Product Marketing Strategies

Goals List and describe the stages of the

product life cycle. Explain how products are positioned in

the marketplace.


Chapter 7Slide 48

Terms product life cycle skimming price strategy penetration price strategy positioning


Chapter 7Slide 49

THE PRODUCT LIFE CYCLE

product life cycle introduction, growth, maturity, and decline


Chapter 7Slide 50

Introduction Stage

introduction stage product is a novelty only one brand of product is available

skimming price strategy introduces new products at a very high price

penetration price strategy uses low pricing to help capture a large

market share early


Chapter 7Slide 51

Growth Stage

second part of product life cycle target market purchases the product

regularly advertising focuses on customer

satisfaction competition increases


Chapter 7Slide 52

The Maturity Stage

third stage of product life cycle sales are level or slowing down marketing costs increase sales prices often offered to hold off

competition


Chapter 7Slide 53

The Decline Stage sales decrease alternatives include

drop a product sell/license


Chapter 7Slide 54

regionalize modernize/alter recommit

discount


Chapter 7Slide 55

What are the stages of the product life cycle?


Chapter 7Slide 56

POSITIONING A PRODUCT positioning

used by a company to differentiate its products or services from its competitors’ products or services status, price, or brand recognition


Chapter 7Slide 57

List three ways a product may be positioned in the marketplace.

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