Section 5 - Marketing and Revenues

Section 5 - Marketing and Revenues - TheBusinessofSports

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The Business of Sports  Part 5  –  Marketing: Creating Revenue “Marketing 101”     A definition of marketing, from the  American Marketing Association (2007) Marketing is the activity, set of institutions, and  processes for creating, communicating,  delivering, and exchanging offerings that have  value for customers, clients, partners, and  society at large. 
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Marketing Defined The elements of marketing Product positioning: creating a meaning or image  for your product/brand in the mind of your  customer Brand: a name, symbol, or icon that represents  your product or company, and is the basis for a  relationship with your customer The “Four P’s”: the tools of marketing Product: your offering (an event or game; concessions and  merchandise, etc.) Price: how much you charge your customer to acquire your  product Place: how you distribute your product; make it accessible for  your customer Promotion: how you communicate about your offering to your  customer to create awareness and brand image, and induce 
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Sports Marketing Defined Sports marketing is: The specific application of marketing principles and  processes to sport products (e.g., teams, leagues,  events, etc.) and Marketing products through the sponsorship of sporting  events or the sponsorship of teams or equipment for  sporting events. Companies and/or brands use mainstream or alternative sports and the  figures associated with these sports to connect with both a broad and/or  targeted group of consumers.  Sports marketing is used to build positive brand awareness, support  retail and sales promotions and gain an overall advantage in their  market.  Examples include athlete endorsements, testimonials, event marketing  and stadium advertising. 
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Marketing Sports Creating and enhancing your (league, team, athlete,  product) brand  Establishing and building a positive image Communicating with your customers To build awareness and brand preference Selling… Tickets, ticket plans, club seats, suites Promotions Advertising (signage in venue; ads in publications and on  air) Sponsorships Naming rights (for new facilities) Merchandise Concessions Broadcast rights
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Who Does Sports Marketing? People who Work in marketing for a league, a sports  association, or a team Work on behalf of major companies by  managing promotional campaigns and  sponsorships of sporting events  Organize sports-related events on behalf of  sports organizations, associations, teams, or  companies 
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Tools for Communicating  Advertising Television and radio Newspaper and print
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This note was uploaded on 02/27/2010 for the course FIN 311 taught by Professor Haan during the Spring '10 term at St. Josephs NY.

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Section 5 - Marketing and Revenues - TheBusinessofSports

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