The Marketing Game Plan

Sports and Entertainment Marketing© Thomson/South-Western

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 2


Winning Strategies

Anschutz Entertainment Group (AEG) is a key player in movie exhibition

AEG dominates specific markets second largest promoter of live events in the

U.S.

AEG sells more than $500 million in tickets annually

AEG

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


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 22


Terms marketing plan interpretation applied research touchpoints

Chapter 6Slide 23


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 24


the facts and recorded measures that have been gathered

raw data

Chapter 6Slide 25


Interpretation

interpretation explaining the information so that it has

meaning drawing conclusions that relate to the

defined marketing research problem

Chapter 6Slide 26


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 27


Explain what Peter Drucker’s definition of marketing means.

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


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 38


Terms mission statement mass market product portfolio test marketing

Chapter 6Slide 39


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 40


A Sense of Direction

mass market a broad group of customers

Chapter 6Slide 41


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 42


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

Chapter 6Slide 43


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 44


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

the current and future needs of customers.

Chapter 6Slide 45


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 46


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

another product or service

The Tactic

Chapter 6Slide 47


describes the marketing mix Product/Service

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

Strategy

Chapter 6Slide 48


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

The Distribution System

Chapter 6Slide 49


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

Pricing

Chapter 6Slide 50


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

Promotional Strategies

Chapter 6Slide 51


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 52


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 53


defines how direct sales will be handled

Review and Evaluation define mileposts for progress checks of the plan

Selling

Chapter 6Slide 54


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 55


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

Chapter 6Slide 56


PERFORMANCE INDICATORS EVALUATED Develop a written business plan for a start-

up business. Identify the customer base and

demographics for the target market. Demonstrate knowledge and understanding

of entrepreneurship.

Chapter 6Slide 57


Demonstrate effective persuasive and informative communication and presentation skills.

Identify customer relations and promotion related to successful businesses.

Analyze financial data and determine appropriate pricing strategies.

Communicate research in a clear and concise manner both orally and in writing.

Chapter 6Slide 58


THINK CRITICALLY

1. Why is a detailed business plan so important when starting a business that offers a new product or service?

2. Why is the Executive Summary the most important part of the business plan?

Chapter 6Slide 59


4. What is the value of surveying the target market when preparing a business plan?

3. Why is it important to look at the competition when preparing a business plan?

The Marketing Game Plan

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