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Marketing principles

Marketing The process of planning, pricing, promoting, selling and disributing products.
Traditional Marketing Products Ideas, Goods, and Sercices
Sport Marketing Goods, Services, and Entities
The Big Picture People have wants/needs which are satified with products. Marketing creates the demand for these products.`
1st Thrust of Sports Marketing Marketing sporting products (goods, services, or entities) to sport consumers.
2nd Thrust of Sports Marketing Marketing other consumer products (ides, goods or services through sport promotions.
4 developements in Sport Marketing Evolution of Sport Broadcasting, Product Extensions/Promotional Strategies, Growth of Sport Sponsorship, Birth of research in Sport Marketing
Roone Arledge ABC Executive created sports entertaining, he wanted the fans sitting at home to see, hear, and experience as it would be in the actual venue. He put the value of entertainment in sports.
Bill Veeck Recognized the success and profitability in entertainment at the venue. It helps crowds to enjoy the game but also help to support the franchise.
Veeck's 1st Philosophy People want to be entertained- Added a few simple moments to the game that didnt distract from the game(givaway days, fireworks, theme nights)
Veeck's 2nd Philosophy Promotions must create conversation afterwards- Fans go home and talk about the game and what they saw. It makes them want to go back and others they tell want to go back.
Veeck's 3rd Philosophy People want a great atmosphere- Fans will be loyal if they have clean facilities and a hopitable atmosphere.
Sponsorship aquiring the rights to affilate or directly accociate with a product or event for the purpose of deriving a benefit related to that affilation
Albert Spalding Early pioneer in sport sponsorship. He was the first marketer to capitalize on the term "official".
Mark McCormack Started endorsement deals. Created IMG, the first sprot marketing agency.
Nike Taking Endorsement Deals to a New Level Started when Nike created the "Air Jordan" apparel. Instead of just paying the athlete and having them endorse it, Nike made Micheal Jordan profit from the Air Jordan profit. He would get x amount of the income instead of just being paid.
Nike growth of sport sponsorship Started university-wide Athletic Sponsorship. Agreement- attempt to associate with the best college athletic programs. Ambush Marketing- increasing business by capitalizing on the popularity of an event without becoming an "official sponsor."
Fan Identification People identify themselves as a fan a a specific team. They do this by having a personal commitment and emotional involvement with sport organizations.
Cluttered Marketplace There are so many sponsors in the proffessional sport that it is difficult for the sponsors to get recognized.
Market Research Research involves getting to know the customer so yoiu can better determine how to create demand for the product.
1st type of Market Research Audience- Fill out a questionaire and get a free beach towel! Fill out a Visa application and get a free cap!
2nd type of Market Research Focus Group- Discussion groups with 8-12 people similar characteristics discussing a predetermined sport topic.
3rd type of Market Research Pass-By Interviews- Interviews in heavy traffic areas such as malls; use a visual aid and assess the interviewee's reaction to it (typically a sample of a potential new product)
Marketing Mix the controllable variables a company puts together
What are the four components of Marketing Mix Product, Price, Place, Promotion
Mass Marketing when an organization markets its products to every possible consumer in the market
Segmentation Process if identifying subgroups of the overall marketplace based on a variety of factors
Target Market a subgroup of the overall marketplace that has certain desirable traits
Demographic Statistics such as age, income, ethnicity, gender educational backround
Geographic Statistics such as region or zip codes
Psychographic Statistics such as preferences or behaviors...vaulues, beleifs, lifestyle, activities, habits
Product Choosing what to sell. The tangible benefits of the product can be provided and controlled
Price What is exchanged for the product. Price is determined by percieved value proveded by the product.
Place Getting it into the consumers hands. Mainstream products are made and shipped to locations that are convenient to the consumer. Sports event products are produced, distributed, and consumed at the same location.
Promotion How the consumer will be told about the product. Promotion is a form of communication used to inform, persuade, and remind people of the products
Created by: Engel9