Virtual Business Sports
Promotion
What Have We Learned So Far?
Definition of Marketing
Process of developing, promoting, &
distributing products to satisfy
customers’ needs & wants
Marketing’s Main Purpose
Marketing Process
Provide a bridge between producers
& consumers so exchange of goods &
services can occur
There are 7 main Marketing
Functions that make up the
marketing process
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Distribution: Physical
movement & storage
Financing: How & where
funds are used in business
Marketing-infomanagement: Collecting,
disseminating, & using
info. To make sound
business decisions
Pricing: Decisions
dictating how much to
charge for products
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Product/Service
management: What
products & services will
be offered
Promotion: Activities that
inform & persuade
Selling: Personalized
communication that
influences purchasing
decisions
Marketing Mix(Four P’s): Four
Main Marketing Decisions
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Product (P/S Planning)
 Place (Distribution)
 Price
 Promotion
* Most important decisions because each deals
directly with consumers.
Promotion
All activities used to inform &
persuade consumers to buy products
& services.
Promotional Mix
Any combination of promotional
activities, including advertising, sales
promotion, personal selling, &
publicity a company will do to inform
& persuade consumers.
Promotion in Virtual Business
In VBS you have control of
sales promotion & advertising
Sales Promotions
Any promotional activities used to
stimulate consumers to buy within a
certain time frame.
Sales Promotion Examples
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Giveaways
 Contests
 Coupons
 Free Samples
 Displays
Sales Promotions in Sports
Marketing
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Cause people to attend who otherwise
would not
 Will be planned for events that are not
expected to be sold out.
Categories of Promotional Items
High Cost – Expensive promotional items.
 Low Cost – Inexpensive promotional items.
 High Appeal – High demand promotional
items.
 Low Appeal – Low demand promotional
items.
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Secret to Promotional Success
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Balance cost and promotion
Too much will be too costly and drain profits.
Too little will lower sales.
Teams must find an equilibrium between
promotions & costs to maximize profits.
Try to find low cost / high appeal items.
Vary promotions
Maximize promotional $ by directing promotional
activities towards the target market
Promotion Terms
Target Market – Particular market segment
selected as being the most appropriate for a
certain advertising campaign or schedule.
 Promotional Items – Special items given out
to increase sales.
 Forecasting – The prediction of upcoming
results based on the evaluation of
accessible, relevant data.
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