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Ch. 2.2 Similarities/Differences in Marketing How does Sports & Entertainment Marketing change the Marketing Mix? We have to look at… • What we are selling and promoting? – Is selling and promoting a box of cereal the same as selling and promoting a sports team or an entertainment event (concert, movie)?? – Whatever our product is, we must look at the product, then determine the most effect ways to advertise, promote, and market it to our consumers! How does… Sports & Entertainment change the Marketing Mix??? The Four P’s Product, Price, Place and Promotion! Let’s look at the 4 P’s for S & E Products! Products • Sports & Entertainment Marketing requires us to sell and market two types of products… • Core Product – Game or Event itself. • Ancillary Product – Related to or created from core product. – T-shirts – DVD – Stage Show – Book – Toys Price • Prices must be charged for tickets, food, merchandise, etc…and we have to pay our athletes and staff! • So, do issues occur with sports and entertainment marketing that don’t with most other goods and services? • Professional athletes make lots of $, so fans become disappointed when they strike for more $! Fan Loyalty can be affected. • Ticket scalpers and online sellers can sell tickets at cheaper prices. • Piracy is a problem for creators of music… – NAPSTER and illegal downloading has been an issue… • Intellectual Property – idea, concept, or created work that needs to copyrighted. • Royalties need to be paid for the use of ones work! Place • Once we get our team and venue set, we have to make it a place people want to come to! • Having Occasion Appeal will get people to your event and keep them coming back! – Other things marketers can do, other than the game or event, to add to the appeal and keep their fan base… • Prizes at the game • Good food • Souvenirs • Soundtracks/DVD’s • Contests/giveaways Promotion • The types of promotions used to promote S & E products are… • Product Tie-ins – Use of merchandise as a promotional tool – Happy Meal at McDonalds – Toy in Cereal Box • Cross-Promotion – Industries relying on one another to promote a product. – Celebrities appearing on talk shows – Interviews in Magazines » Web sites are becoming more & more popular as well! Endorsements • Endorsements are One way to promote our products! • Must choose endorsements that match products with celebrities!! • The hope is that fans will identify with celebs that they admire and purchase products • What is a good product for Ben Wallace to endorse? • What is a good product for Jessica Simpson to endorse? Synergy • The S & E Industry is also seeing substantial growth… • Synergy - Products owned by source promote the growth of related products. • Oprah started with a talk show, and her image is “lifestyle guru” • The Oprah show is her CORE product, and her ANCILLARY products are her magazine, her production company, her angel network, and other charities that she works with or has created. • The SYNERGY occurs when fans from one product start using, consuming, etc… another product, and then return to another, and another… (that cycle is synergy) Assignment: 20 Points • Determine a way to create synergy for a celebrity. – (Can be in the Sports or Entertainment Industry) • You can choose the celebrity. • Can’t be Oprah, Dr. Phil, or Rachel Ray • I want at least 5 other things that celebrity can create for themselves to grow and create synergy! (Explain EACH)! • Type the ideas on a Word Doc, print, turn in with your names on top!
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