Sports and Entertainment Marketing Chapter 4 Sports Products Objectives Define the sports consumer Identify sports products Explain the differences between sports goods and services Differentiate between the product line and product mix The Sports Consumer Consumer – Sports Consumer – How do sports consumers make decisions? 1. _______________________: cultural differences related to class, race, and gender; climate and region marketing influences, such as commercials 2. _______________________: Sports Products Product – Sports Products Areas involved in Marketing Sports Products Communication firms City governments Types of Sports Products 1. Sporting Events – o o Sports and Entertainment 1 2. Sports Information o o 3. Sports Training – usually a service such as instruction that is provided through fitness centers, sports camps, and lessons. 4. Sporting Goods – usually include a wide range of goods o o Sports Goods vs. Sports Services Sports Goods – Quality of Goods 1. 2. Sports Services – intangible service Quality of Service _________ – ability to perform promised services dependably and accurately _________ – knowledge and courtesy of employees and their ability to convey trust and confidence _________ – the caring, individualized attention provided by the professional sports franchise for its customers ___________ – willingness to help customers and provide prompt service ___________ – appearance of equipment, personnel materials, and venue Sports Products Classifications Product Line – Product Mix – Sports and Entertainment 2 Sports and Entertainment Marketing Chapter 5 Product: Sports Objectives Differentiate between a product item and product line Classify products as consumer goods or business goods Explain the seven steps in developing a new product Identify the stages in a product’s life cycle Sports Product – Product Item – Example: Nike Fitted Training T-Shirt Product Line – Example: Nike’s Product Line - athletic clothing, athletic footwear and sports equipment Product Mix – Product Classifications Consumer Goods – Business Goods – Example: The Office Point of Difference (Unique Selling Point) – Example: TUNIT Soccer Cleats Steps in New Product Development Step 1 – SWOT Analysis Sports and Entertainment 3 Step 2 – Idea Generation Sources of Ideas Step 3 – Screening and Evaluation Focus Group – a panel of six to ten consumers who discuss their opinions about a topic under the guidance of a moderator Step 4 – Business Analysis Step 5 – Development Prototype – Step 6 – Test Marketing Step 7 – Commercialization Product Life Cycle 1. Introduction Stage Product Pricing Strategies Penetration Pricing – Price Skimming – 2. Growth Stage 3. Mature Stage Popularity or simple modifications will determine length of peak stage Sports and Entertainment 4 4. Decline Stage Fad – Management of Product Life Cycle How do managers manage the products through the product life cycle? Product Modification – Purpose: Market Modification – Repositioning – Example: New Balance targeting older people with foot problems Sports and Entertainment 5 Sports and Entertainment Marketing Chapter 7 Branding and Licensing Objectives Explain the concepts of branding and brand equity Discuss the types of brands Describe how to develop an effective brand name Case Study: Race for the Prize Why are NASCAR fans considered loyal to sponsor brands? Why is branding important? Brand – Example: Brand Name – Example: Trade Name – Example: U.S. Patent and Trademark Office – Trademark – Advantages of Branding 1. 2. 3. Brand Personality Example: Brand Equity – Sports and Entertainment 6 Steps of Brand Equity 1. Example: Example: Example: 2. 3. Brand Equity of a Sports Team Develop: Link: Help: Licensing – Allowing another company to use a brand name, patent, or any other item for a fee or royalty Types of Brands and Strategies 1. 2. 3. Manufacturer Brand – Multi-Product Branding: Example: Multi-Branding: Example: Co-Branding: Example: Intermediary Brands – Examples: Generic Brands – Generic brands are unlikely in the sports industry Sports and Entertainment 7 Developing Brand Names Be previously unregistered (www.uspto.gov) Sports and Entertainment 8