? Web viewThe NFL is the most _____ and most popular professional sports business in the United States…

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Sports & Entertainment Marketing Name: ________________________________

Unit 1: Foundations

Directions: Please complete the following outline during the class discussion of this unit.

I. What is a Market?

A. The term __________ is used to describe all potential customers who have the desire and ability to purchase a businesss products.

B. Market is also used to describe ____________ customers and potential customers are physically located.

C. Market can also be used to indicate where customers go to purchase products. Example: the marketplace.

II. What is Marketing?

A. _______________ is the planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.

B. _______________ is also the process of developing, promoting, and distributing products or services to satisfy customers needs and wants.

C. _______________ is the creation and maintenance of satisfying _____________ relationships.

D. Marketing is as old as civilization. Ads for gladiator games might be painted on walls, written on papyrus, or read aloud in public places. Marketing is much more sophisticated today.

III. The History of Sports Marketing

A. _____________ marketing is a growing division of the marketing field that focuses on the business of sports and the use of sports as a marketing tool.

B. The roots of modern Sports Marketing can be traced back to the 1860's when many businesses, recognizing the popularity of the new sport of baseball, began using photographs of the teams to help sell their products and services.

C. One of the first examples of using sports to market products occurred when baseball cards were placed in packs of _____________.

D. Honus Wagner played from 1909 1911. His card was recently sold for $2,800,000.

E. Today, the marketing of _____________ is a very sophisticated, and can be a very profitable, business.

F. American professional football is a modern version of Romes gladiator games.

G. The NFL is the most _____________ and most popular professional sports business in the United States and second in the world after professional soccer.

H. Ironically, the NFL is recognized as a non-profit association by the Federal government. The NFL is not fully exempt from anti-trust laws.

I. Only Major League _____________ is fully exempt from ant-trust laws.

Watch the Video: Interview With the NFL Commissioner

1. Why is the NFL the most successful entertainment business in the United States?

2. The NFL generates nearly $10 billion in revenue each year. Where does this money come from?

3. What was the first job held in the NFL by Commissioner Roger Goodell?

4. What personal qualities does Commissioner Roger Goodell have that make him a good leader?

IV. What is the Marketing Concept?

A. The marketing _____________ means that a business focuses on satisfying customer needs and wants while making a profit.

B. Luxury suites satisfy the needs and want of affluent customers and allow the business to make additional profits.

C. A suite at Dallas Cowboys Stadium features granite counter tops, marble floors, a private restroom inside of the suite, ample bar space, flat screen televisions, climate control, Wi-Fi, and special parking.

D. The suites come in different sizes to accommodate between 18 to 52 guests.

E. The cost is between $100,000 and $500,000 a year.

V. The Seven Functions of Marketing: Distribution, Marketing-Information Management, Pricing, Product/Service Management, Promotion, Selling, Financing

A. _____________ involves determining the best way to get products or services to customers.

B. Marketing-_____________ _____________ involves gathering and using information about customers to improve business decisions.

C. _____________ is the process of establishing and communicating to customers the value of goods and services.

D. __________ _________ Management involves designing, developing, maintaining, improving or acquiring products or services to satisfy customer needs and wants.

E. _____________ uses advertising and other forms of communication to distribute information about products or services.

F. _____________ is any direct and personal communication with customers to assess and satisfy their needs and wants. Personal training and sports instruction are good examples of selling a service in the area of sports.

G. _____________ requires the business to budget for its own needs and provide customers with assistance in paying for the companys products or services.

VI. The Target Market

A. The _________ _________ is a specific group of consumers an organization selects as the focus of its marketing plan. Describe the target market for The Villages a retirement and golf community located in Florida.

B. The _________ _________ is the particular group of consumers you want to reach. Describe the target market for a Justin Bieber concert.

Watch the Video: Taylor Swift: Targeting the Market

1. Who is the target market for a Taylor Swift concert?

2. How does Taylor Swift continue to effectively target the market segment that she currently appeals to?

3. How does Taylor Swift stay connected to her fans?

4. In your opinion, can Taylor Swift continue to target the same audience indefinitely?

Watch the Video: The Black Keys: Targeting a Different Market

1. How does the music and performance of the Black Keys differ from the performance of Taylor Swift?

2. How does the target market for a Black Keys concert differ from the target market for a Taylor Swift concert?

VII. The Four P's of Marketing

A. The 4 Ps, also known as the _________ ________, also known as the 4 elements of marketing, describes how a business blends together the decisions of: Product, Price, Place (Distribution), and Promotion.

B. A _____________ is whatever a business offers to customers to satisfy needs and wants.

a. A product can be a good or service.

b. A _____________ is a basic necessity, such as food, clothing, or shelter.

c. A _____________is any unfulfilled desire.

d. Sports and entertainment largely satisfies the wants of customers, but some needs are also satisfied consider the sale of food and beverages at sporting events.

C. The _____________ is the amount that customers pay for products goods or services.

a. _________ ________ is the amount of money people have available to spend after paying for necessities.

b. Sports and entertainment events are not considered necessities and as a result require the spending of discretionary income.

D. _____________ (place) involves the locations and methods used to make products available to customers. Sporting events are distributed at the stadium in which they are played, but are often also distributed by television, or other media, to a much larger audience.

E. _____________ describes the ways to make customers aware of products and encourage them to buy. The internet and social media are important promotional tools for sports and entertainment.

Watch the Video: The Marketing Mix for Movies is Changing

1. Why are fewer people seeing movies at movie theaters today?

2. What are young men doing today instead of seeing movies at the movie theater?

3. What is a tent pole movie?

4. Discuss the 4 elements of marketing (product, price, place, promotion) as they relate to movie theaters.

VIII. Channels of Distribution

A. A _________ ___ ___________ is the path that a product takes from the producer to the consumer. The iTunes Store allows consumers to purchase music and download it directly to their device.

B. Sports and entertainment events are distributed to viewers using mass media.

C. _________ ________ is a term that describes any media used to distribute an event to a large number of people.

D. Examples of mass media include _____, _________, and the ____________. The Kindle Fire allows owners to purchase books and have them downloaded electronically to their device.

E. As technology continues to increase, the _____________ (types of delivery systems) for delivering sports and entertainment will continue to expand and improve at a rapid pace.

F. Most movies are first distributed to theaters, then to DVD sales, and are later available for electronic viewing using services such as Netflix or Vudu. Vudu is sponsored by Wal-Mart.

G. Television programs are distributed by broadcast, on cable, or by satellite.

H. Today, the program is typically also available for instant viewing on the networks website and on other services such as Hulu.

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