Bell Ringer (5 minutes)

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Bell Ringer (5 minutes)

• Carlos ordered food at Sonic for 6.79. He plans
  to give the carhop a 1 tip out of his 10. How
  much change will Carlos receive back from the
  carhop - after tip?

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Bell Ringer Answer

• 6.79 1.00 (tip) 7.79
• 10.00 - 7.79 2.21
• Carlos would receive 2.21 back from the carhop
  after leaving a 1.00 tip.

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Agenda

• Bell Ringer - (10 minutes)
• Discuss daily objectives - (2 minutes)
• Lecture / Introduction to Sports Marketing (40
  minutes)
• Quiz (18 minutes)

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Vocabulary Words

• Marketing
• Marketing Mix
• Product
• Distribution
• Price
• Promotion

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Daily Objectives

• Define marketing
• Describe the basic concepts of marketing
• Explain the marketing mix
• Define the six core standards of marketing

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What is Sports Marketing?!
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Discussion Questions

• How would you define sports and entertainment
  marketing?
• Describe the consumers of sports and
  entertainment products.
• What kinds of marketing strategies do you think
  sports and entertainment businesses use?
• Do you think sports and entertainment marketing
  affects the economy? In what ways?
• Do you think sports and entertainment have always
  been big businesses?
• What kind of marketing do you think was done for
  sports and entertainment 100 years ago?
• What is one difference between watching a sports
  game and watching a movie?
• Name some athletes and celebrities who have
  endorsed sports and entertainment products?

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Marketing

• The creation and maintenance of satisfying
  exchange relationships.
• Planning and Executing the conception, pricing,
  promotion, and distribution of ideas, goods, and
  services to create exchanges that satisfy
  individual and organizational objectives.

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The Marketing Mix

• To perform the tasks associated with marketing,
  marketers rely on a marketing mix.
• The marketing mix describes how a business blends
  the four marketing elements of product,
  distribution, price, and promotion.

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4 Ps

• Product ? what a business offers customers to
  satisfy needs. Products includes goods and
  services.
• Distribution/Place ? the locations and methods
  used to make products available to customers.
• Price ? the amount that customers pay for
  products.
• Promotion ? Ways to make customers aware of
  products and encourage them to pay.

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Marketing Mix Considerations

• Marketers must carefully consider the many
  factors that affect the marketing mix elements
  because of the lack of discretionary income.
• Discretionary Income is the amount of money
  individuals have available to spend after paying
  for the necessities of life and other fixed
  expenses, such as housing and car payments.

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Marketing Mix Considerations

• PRODUCT
• Product offerings must be constantly evaluated
  and updated, because what is popular this year
  may not be popular next year.
• Markets must consider the quantities of the
  products to produce.
• Too much of a product could result in price
  markdowns. Too few of a product could result in
  lost sales.

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Marketing Mix Considerations

• Price
• Businesses must offer products and services are
  prices that consumers are willing to pay.
• Prices charges for sports and entertainment
  events must be sensitive to consumer demand and
  the state of the economy.

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Marketing Mix Considerations

• Distribution
• Involves transporting or delivering goods to the
  final consumer.
• The distribution of an event involves planning
  the location where the event will take place, or
  how the uniforms will arrive to the field.

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Marketing Mix Considerations

• Promotion
• Essential to inform prospective customers about
  sports and entertainment events and products.
• Forms of promotion can range from advertisements
  to in-stadium advertising through special offers
  and ticket-stubs.
• Promotion requires creativity to keep the
  attention of prospective customers.

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Six Core Standards of Marketing
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Assessment

1. Which core standard involves catering and using
   data to make future business decisions?
2. What are the four functions of the marketing mix?
3. Think of one of your recent purchases. List and
   describe how the six core standards of marketing
   were involved with the purchase.