Sport - Marketing - Lecture Notes, Lectures 2, 12,16 PDF

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this file will have any missing and additional content from any previously submitted 1st half of semester course materials - - merged files: Sport-Marketing.doc - Sport-Marketing-Lecture-10.docx - Sport-Marketing-Lecture-12.docx...

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Spor tMar k et i ng Mar k et i ng=at t i t udeofmi nd “ Get t i ngt her i ghtpr oduc t s,t ot her i ghtpeopl e,att her i ghtpr i ce,i nt her i ghtpl ace,wi t ht her i ght pr omot i on”-Kot l er ,1992 TheP’ soft hemar k et i ngmi x Pr oduct : Di v er si t y ,qual i t y ,c har act er i s t i cs ,br andname,ser vi ce Whati st hecust omerv al ues ? Pl ace:( channel sofdi st r i but i on) Regi on,l ocat i ons,st ock ,t r ans por t at i on I si tconv eni entf ort hec ust omer ? Pr i ce: Pr i ceaccor di ngt odemand,sal es ,cr edi tpossi bi l i t i es Whati st hecostt ot hecons umer ? Pr omot i on: Sal espr omot i on,adv er t i sement s ,publ i cr el at i ons ,di r ectmar k et i ng Communi cat i onbet weenconsumer s ? 5P’ s( Mul l enetal l .2000) Pr oduct ,pr i ce,pl ace,pr omot i on,Publ i cr el at i on, 6P’ s( k ot l er ) Pr oduct ,pr i ce,pl ace,pr omot i on,Pol i t i cs,Publ i copi ni on AMAupdat eddefini t i onofmar k et i ng “ Mar k et i ngi sanor gani z at i onal f unct i onandasetofpr oces sesf orcr eat i ng,communi c at i ngand del i ver i ngval uet ocust omer sandf ormanagi ngcust omerr el at i onshi psi nwayst hatbenefit t heor gani zat i onandi t sst ak ehol der s( AMA,2004) Whati sspor tmar k et i ng? Al lact i v i t i esdesi gnedt omeett hewant sandneedsofspor tcons umer st hr oughanex c hange pr oces s Mar k et i ngofspor t Ex ,pr of ess i onalt eams ,Fi t nesscent r e,Badmi nt oncl ub Mar k et i ngt hr oughs por t Ex ,Br ewer y ,aut odeal er Spor tManagementasapr ocessofcoor di nat i on J ami eBeat t y St ev ePar k Coac hAv er y Uni onBapt i st e Tr ev orThompson LCCVIbask et bal l

Wal l acebur gOBA J an20t h Uni quenes sofSpor tMar k et i ng Spor tpr oduct Spor tMar k et Spor tFi nance Spor tPr omot i on Spor tPr oduct “ Ser vi ces ” :i nt angi bl e,per i s habl e,het er ogeneous,s i mul t aneousl y /i nsepar abi l i t y Soci al l ydependent St r ongi dent i ficat i on,pass i onandemot i on( e. g.BI RGi ng&CORFi ng) Cor epr oductbey ondmar k et er s ’cont r ol I nconsi st entandunpr edi ct abl e*mosti mpor t antf act orofspor tpr oduct Spor tMar k et Spor tor gani z at i onscompet eandcooper at e:or gani z at i onsneedt hei rcompet i t or st oc r eat e t hei rpr oducti nor derf ort hei rs ucces s Spor tconsumer st ocons i dert hemsel v esexper t s Demandt endst ofl uct uat ewi del y Spor thasanal mostuni v er s alappealandper v adesal lel ement sofl i f e: Eat i nganddr i nki ng Sex Pol i t i cs Rel i gi on Spor tFi nance I ti sdi ffic ul tt opr i cet hei ndi vi dualspor tpr oductuni t ebyt r adi t i onalj obcos t i ng Cor epr oductj ustonepar tofcust omer scos t I ndi r ectr ev enuesgr eat ert handi r ectoper at i ngr ev enues Spor tPr omot i on Thewi despr eadmedi aexposur e Doubl eedgeds wor d Busi nesseswantt oass oci at ewi t hspor t Medi aands ponsor semphasi z ecel ebr i t i es

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Feb 8th

Market Segmentation Learning objectives -central role of segmentation -Standard basis of market segmentation What is a market?  Market (M) o Some large collection of people who may or may not be interested in the product or service that your organization is offering  Potential market (PM) o People who will benefit, or achieve some need satisfaction, by making use of what you have to offer  Market segment (MS) o The process of dividing a large, heterogeneous market into more homogeneous groups of people who have similar wants, needs or demographic profiles, to whom a product may be targeted o To be reached with a distinct marketing mix

Market Segmentation Strategies  Undifferentiated segmentation strategy o Ex, Coca cola, selling 1 product, to 1 whole market (Youth, seniors, adults, everybody)  Differentiated segmentation strategy o Ex, Diet coke (for women) Coke Zero (for men)  Concentrated segmentation strategy o targeting specific segments -Ex, Banks concentrating on students at the beginning of the school year

Marketing Segmentation: Criteria  Identifiable?  Accessible?  Responsive? ——————— Substantial?  Stable?  Actionable? Segment vs Niche  Niche: very small, specific market, no competition  Segment: larger, competition Market segmentation: methods

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The consumers state of being (demographics) The consumers state of mind (psychographics) Product usage Product benefits

Consumers state of being  Geography  Socio-economic status(SES): Income, profession, education  Age  Gender  Race/ ethnicity  Sexual orientation Consumer’s state-of-mind segmentation  Segments divided by: o personality traits o Lifestyle characteristics o Preference and perceptions o Inner directed vs. outer directed people Product usage segmentation  Usage rates differ among segments  80/20 rule: 80% of your profits come from 20% of your consumers o Escalator model: Light users, medium users, heavy users etc Product Benefits segmentation Summary  Match the right product offer (P,P,P,P) to correct the target  Constantly review market segments Benefits of market segmentation  See and compare various marketing opportunities  Help to allocate the total marketing budget  Make fine adjustments to the product/ service, and the marketing appeals of that offering  More effectively reach objectives  Direct sales promotion  Is basic to all marketing efforts  Maximizes consumer satisfaction  Maximizes market demand and response STP: segmenting, targeting, positioning...