the product is sports and entertainment

Sports and Entertainment Marketing© Thomson/South-Western

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 2


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

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Lesson 7.1

The Product Mix

Goals Define product mix, product extension,

and product enhancement. List and describe the components of

the product mix.

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

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WHAT IS A PRODUCT MIX?

tangible parts physical features that can be seen and felt

intangible parts the nonphysical service features

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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

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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

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Provide three examples of a product enhancement.

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PRODUCT MIX COMPONENTS

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

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Product Line

product line a group of similar products with slight

variations to satisfy the different needs of consumers

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Packaging

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

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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

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nonrecognition rejection recognition preference insistence

The five stages of brand recognition are

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What are the components of the product mix?

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Lesson 7.2

Recruiting Athletes and Entertainers

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

entertainment events.

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Terms blue-chip athletes NCAA fringe benefits

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THE BOTTOM LINE FOR SPORTS blue-chip athletes

excellent athletes demonstrate good character and leadership

qualities on and off the field

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

The bottom line for sports is winning.

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NCAA Regulations

NCAA a voluntary organization through which the

nation’s colleges and universities govern their athletics programs

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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.

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

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THE COST OF SUCCESS

Success requires skilled coaches top-notch players popular entertainers

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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

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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.

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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.

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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.

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

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Lesson 7.3

Customized Entertainment

Goals Define customizing. Describe the financial impact of Baby

Boomers on the entertainment industry.

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Terms customizing impromptu tiering

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CUSTOMIZING PRODUCTS

customizing changing a product to fit the needs or wants

of a particular market

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spontaneous and changing

impromptu

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Local TV American Style

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

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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

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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

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Public TV and Radio

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

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

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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 38


Boomers Won’t Retire

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

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Segmenting the Group

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

on this aging market.

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Entertaining the Boomers

Baby Boomers are increasing their movie attendance.

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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.

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Why are Baby Boomers important to entertainment marketers?

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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 44


Terms product life cycle skimming price strategy penetration price strategy positioning

Chapter 7Slide 45


THE PRODUCT LIFE CYCLE

product life cycle introduction, growth, maturity, and decline

Chapter 7Slide 46


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

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Growth Stage

second part of product life cycle target market purchases the product

regularly advertising focuses on customer

satisfaction competition increases

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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

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The Decline Stage sales decrease alternatives include

drop a product sell/license

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regionalize modernize/alter recommit

discount

Chapter 7Slide 51


What are the stages of the product life cycle?

Chapter 7Slide 52


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 53


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

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PERFORMANCE INDICATORS EVALUATED Communicate the goals of the state fair. Prepare an attractive document that incorporates

the latest desktop publishing technology. Create an original, appealing newsletter to

increase awareness and attendance at the state fair.

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Select graphics and fonts that appeal to the intended audience.

Produce a final product that indicates a clear thought process and an intended, planned direction with formulation and execution of a firm idea.

Understand the comprehensive nature of this project and its purpose.

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THINK CRITICALLY

1. Why does the state fair need multiple forms of publicity to increase attendance?

2. What promotional item could be included in your desktop publishing document to help increase the attendance at the state fair?

Chapter 7Slide 57


4. What types of graphics would be appropriate for this publication? Why?

3. How can the state fair measure the effectiveness of your publication?

the product is sports and entertainment

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