Sports and Entertainment Marketing © Thomson/South-Western Chapter 6 Slide 1 Bell Work What ways...

Sports and Entertainment Marketing© Thomson/South-Western

Chapter 6Slide 1

Bell Work

What ways has Nike differentiated itself from Adidas? Nike was not always number one.


Chapter Chapter Chapter Chapter

The Marketing Game Plan 6.1 The Game Plan 6.1 The Game Plan

6.2 Entertainment and Sports 6.2 Entertainment and Sports StrategiesStrategies

6.3 Mapping the Plan 6.3 Mapping the Plan

6


Chapter 6Slide 3

Lesson 6.1

The Game Plan

Goals Explain the difference between

marketing tactics and strategies. Discuss the importance of planning to

stay ahead of the competition.


Chapter 6Slide 4

Terms tactic strategies marketing intelligence trade shows


Chapter 6Slide 5

MARKETING TACTICS

Nike wants to be number one in their market.

Nike needs to differentiate itself from Adidas, the market leader.


Chapter 6Slide 6

Tactics First

tactic the way a product or service is

differentiated in the minds of customers from other competing products or services

the most effective tactics are developed by salespeople tactics can work their way from

salespeople to upper management


Chapter 6Slide 7

Strategies

strategies the process by which tactics are

implemented


Chapter 6Slide 8

What is the difference between a tactic and a strategy?


Chapter 6Slide 9

BEATING THE COMPETITION

“Winning the game” in business means gaining market share over competitors and making a profit. requires depth of competitive knowledge

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Chapter 6Slide 10

What Information is Needed?

marketing intelligence information gathered about competitors


Chapter 6Slide 11

pricing is very important to customers the prices of competitors can influence

buying decisions

Pricing


Chapter 6Slide 12

marketers need to make the product purchase convenient for customers

Distribution


Chapter 6Slide 13

knowing the product and service offerings of competitors can help a business determine how to differentiate its products

Product/Service Management


Chapter 6Slide 14

promotional competitive analysis reveals: the product characteristics emphasized by

competitors target customers promotional budgets

Promotional Efforts


Chapter 6Slide 15

Finding the Information

Marketing information is critical to help anticipate future moves of the competition.


Chapter 6Slide 16

efficient searching leads to effective results company name keywords

internet


Chapter 6Slide 17

combining the insights of a variety of salespeople can provide valuable competitive information

observations


Chapter 6Slide 18

major events where people in a related industry meet to show their products exchange ideas learn about the latest trends

valuable source of competitive information

trade shows


Chapter 6Slide 19

customer feedback is critical for fine tuning marketing plans

can provide competitive information

customers


Chapter 6Slide 20

Give three examples of marketing intelligence information that might be collected by a movie theater.


Chapter 6Slide 21

Bell Work

What are some of the vast amount of ways companies conduct research?


Chapter 6Slide 22

Lesson 6.2

Entertainment and Sports Strategies Goals Explain the importance of learning from

customers. Discuss sports marketing strategies. Discuss entertainment marketing

strategies.


Chapter 6Slide 23

Terms marketing plan interpretation applied research touchpoints


Chapter 6Slide 24

DATA-DRIVEN DECISIONS

marketing plan a document that describes the tactics and

strategies that will be used to market the product or service

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Chapter 6Slide 25

the facts and recorded measures that have been gathered

raw data


Chapter 6Slide 26

Interpretation

interpretation explaining the information so that it has

meaning drawing conclusions that relate to the

defined marketing research problem


Chapter 6Slide 27

Applied Research

applied research conducted to solve specific problems

touchpoints the points at which the business makes contact

with the customers web site visits e-mails phone calls advertisements one-on-one sales pitches


Chapter 6Slide 28

SPORTS MARKETING STRATEGIES Fans are necessary for the longevity of

a team. Using research to form the right tactics to

attract fans is a challenge for teams.


Chapter 6Slide 29

Fans Rule

Competition for fans is fierce. Adidas and Nike have different tactics and

strategies to compete for soccer fans. Adidas provides soccer balls for the World Cup

and promotes customizable soccer cleats. Nike is filling a niche for street-ready soccer

merchandise and is sponsoring a number of major international soccer teams.


Chapter 6Slide 30

What drives professional sports teams’ marketing plans? Explain why.


Chapter 6Slide 31

ENTERTAINMENT MARKETING STRATEGIES The movie and music industries use

many of the same strategies used in sports marketing to attract customers.

Determining the new tactic first and then figuring the strategies that will drive sales is the key.


Chapter 6Slide 32

Capitalizing on Controversy

Sony carefully developed a tactic and a strategy for promoting The DaVinci Code. provided a website for religious dialogue avoided overexposure prior to the movie’s

release


Chapter 6Slide 33

Concert Pricing Strategies

Indoor concerts are more economical to produce than outdoor concerts. A smaller indoor concert may be more

profitable than a larger outdoor concert.


Chapter 6Slide 34

Declining profits are prompting concert promoters to re-evaluate pricing strategies.

Industry consolidation has lead to decreased competition.


Chapter 6Slide 35

A Little Music with Your Coffee? Starbuck’s Entertainment

connects Starbuck’s brand with entertainment

By 2005, Starbucks sold 3.5 million CDs.


Chapter 6Slide 36

Why would a coffee shop add entertainment items to its menu?


Chapter 6Slide 37

Bell Work

What should a game plan look like when preparing for an opponent?


Chapter 6Slide 38

Lesson 6.3

Mapping the Plan

Goals Explain how marketers determine

direction and focus for a marketing plan.

List and describe the components of a marketing plan.


Chapter 6Slide 39

Terms mission statement mass market product portfolio test marketing


Chapter 6Slide 40

KNOW WHERE YOU ARE HEADED mission statement

identifies the nature of the business and the reason it exists

All tactics and strategies should be built around the mission statement.


Chapter 6Slide 41

A Sense of Direction

mass market a broad group of customers


Chapter 6Slide 42

all the products a company has available at any one time

test marketing where the sales potential for a new product is

tried in a small market prior to its final release

product portfolio


Chapter 6Slide 43

Explain the importance of a company’s mission statement to the marketing plan.


Chapter 6Slide 44

THE PLAN

The marketing plan is a detailed document that further provides a detailed description of how the tactics and strategies will be implemented.


Chapter 6Slide 45

Components of a Marketing Plan A marketing plan should be guided by

the current and future needs of customers.


Chapter 6Slide 46

The Mission Statement The marketing plan must be in agreement with

the mission statement.

Marketing Information Information is gathered, analyzed, interpreted and

used to make business decisions.

Analysis

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Chapter 6Slide 47

describes product or service differentiation should pinpoint a gap that is not be filled by

another product or service

The Tactic


Chapter 6Slide 48

describes the marketing mix Product/Service

the identified need is the basis for the development of the product or service

Strategy


Chapter 6Slide 49

describes how the product or service will be made available to customers

The Distribution System


Chapter 6Slide 50

The price must be set where revenues will be maximized to cover all costs and provide a profit.

Pricing


Chapter 6Slide 51

how the product will be positioned in the minds of customers advertising publicity sales promotion personal selling

Promotional Strategies


Chapter 6Slide 52

disclosure of all expected costs and revenues might indicate need for additional funding

Risk Management outlines possible risks and strategies for

minimizing the risks

Financing


Chapter 6Slide 53

Timeline start with completion date and plan backwards specify event sequencing

Assignments of Responsibility specify who is responsible for each component of

the plan

Internal Communication System define how all key organizational members will be

kept informed of the plan provide a feedback mechanism

Implementation


Chapter 6Slide 54

defines how direct sales will be handled

Review and Evaluation define mileposts for progress checks of the plan

Selling


Chapter 6Slide 55

Look to the Future

Organizations should have future products planned while current products are still experiencing strong sales.

Marketing plans require periodic revisions.


Chapter 6Slide 56

Why must the marketing plan include intervals for review and evaluation?

Sports and Entertainment Marketing © Thomson/South-Western Chapter 6 Slide 1 Bell Work What ways...

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