Marketing- creating. Promoting, and delivering goods and services to consumers and businessesSport Marketing- consists of all activities designed to meet the needs and wants of sports consumers through exchange processesIncludes the marketing of:Products (equipment and apparel)Services (skill lessons, club memberships)Entities (leagues, teams, individuals)4 P’s of Marketing: Product, Price, Place, PromotionProduct- for spectator sport:Product is actual eventSpectators only experience productUnpredictability of eventSport marketer has little control over product and cannot promise certain outcome, but most focus on the chance to see something spectacularPriceVariety of products in sport industry priced: tickets, health club membership, TV packagesFor spectator sport:Usually more than one price to attendTicketing, parking, concessions, souvenirsConsumers tend to perceive higher price with higher qualityPlace- place where product is produced (stadium or arena) is also place where product is consumedSport marketers must aggressively presell sporting events because once game is over no tickets can be soldLocation can be very importantNew stadiums/arenas often have amenities to entice consumersPromotion- functions including:Advertising (paid messages conveyed through media)Personal selling (face-to-face presentation in which seller attempts to persuade buyer)Publicity (media exposure not paid for by beneficiary)Sale promotion (special activities undertaken to increase sales of product)Key differences between sport marketing and traditional marketingSport Marketing:Sport organizations must simultaneously compete and cooperateConsumer demand tends to fluctuate widelySport product is intangible, subjective, and experientialSport product is inconsistent and unpredictableTraditional Marketing:Organizations aim to defeat and eliminate competitionCustomer demand is more predictableProduct is tangible and used on more than one occasionInconsistency and unpredictability are considered unacceptableFocus of Sport Marketers:Sport marketers need to put emphasis on maintaining and developing fansCan you segment your customers based on useful criteria that will allow you to be more efficient in your marketing?SegmentationEntails identifying subgroups of the overall marketplace, based on a variety of factors, including age, gender, income level, ethnicity, geography, and lifestyle tendenciesTarget marketing efforts towards specific subgroup, also called the target populationMarketing plans would include different strategies for different target populationsThink marketing towards college students vs. retireesKINS 2010 1st Edition Lecture 14 Outline of Last Lecture I. Why Study Sport?II. Gender and Sporta. Participation and equity Issuesb. Ideological IssuesIII. Gender IdentityOutline of Current Lecture I. Marketinga. Definition of marketing and sport marketingII. 4 P’s of Marketinga. Productb. Pricec. Placed. PromotionIII. Sport Marketing v. Traditional MarketingIV. Focus of Sport Marketersa. Segmentation Current LectureThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute. Marketing- creating. Promoting, and delivering goods and services to consumers and businesses- Sport Marketing- consists of all activities designed to meet the needs and wants of sports consumers through exchange processeso Includes the marketing of:  Products (equipment and apparel) Services (skill lessons, club memberships) Entities (leagues, teams, individuals) 4 P’s of Marketing: Product, Price, Place, Promotion- Product- for spectator sport:o Product is actual evento Spectators only experience producto Unpredictability of event  Sport marketer has little control over product and cannot promise certain outcome, but most focus on the chance to see something spectacular- Priceo Variety of products in sport industry priced: tickets, health club membership, TV packageso For spectator sport: Usually more than one price to attend  Ticketing, parking, concessions, souvenirs Consumers tend to perceive higher price with higher quality - Place- place where product is produced (stadium or arena) is also place where product is consumedo Sport marketers must aggressively presell sporting events because once game is over no tickets can be soldo Location can be very importanto New stadiums/arenas often have amenities to entice consumers- Promotion- functions including:o Advertising (paid messages conveyed through media)o Personal selling (face-to-face presentation in which seller attempts to persuade buyer)o Publicity (media exposure not paid for by beneficiary)o Sale promotion (special activities undertaken to increase sales of product) Key differences between sport marketing and traditional marketing- Sport Marketing:o Sport organizations must simultaneously compete and cooperateo Consumer demand tends to fluctuate widelyo Sport product is intangible, subjective, and experientialo Sport product is inconsistent and unpredictable- Traditional Marketing:o Organizations aim to defeat and eliminate competitiono Customer demand is more predictableo Product is tangible and used on more than one occasiono Inconsistency and unpredictability are considered unacceptable Focus of Sport Marketers:- Sport marketers need to put emphasis on maintaining and developing fans - Can you segment your customers based on useful criteria that will allow you to be more efficient in your marketing?- Segmentationo Entails identifying subgroups of the overall marketplace, based on a variety offactors, including age, gender, income level, ethnicity, geography, and lifestyletendencieso Target marketing efforts towards specific subgroup, also called the target populationo Marketing plans would include different strategies for different target populations Think marketing towards college students vs.