Sports and Entertainment Marketing Lesson 10

Sports and Entertainment

Marketing

The Marketing Mix

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Product

 Complex blending of tangible and intangible parts

 tangible parts-physical features that can be seen and felt intangible parts-nonphysical service features

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Product Mix

Product’s final form and total assorted features (brand, name, various products offered under the brand, and packaging)

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Product Extension

 Items added to a product to make it more attractive to the target market, including guarantees, warranties, and instructional information

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Basic vs. Enhanced Product

 Athletic shoes are a basic product constructed for support and safety to avoid injuries during sports.

 Cross-trainer shoes are enhanced running shoes that are good for walking, hiking, running, biking, and other amateur sports.

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Basic vs. Enhanced Product

 Basic seating may be the bleacher seats in the end zone with no back supports.

 Product enhancements would include individual seats with back supports located on the 50-yard line and seats located in an airconditioned suite or sky box.

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Product Line

Group of similar products with slight variations to satisfy different needs of consumers.

Soft drinks (regular, caffeine free, diet)

Television sets from 5-inch screens to 60-inch screens

Travel packages ranging from weekend getaways to vacations that last a week or longer

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Packaging

 Ease of use

 Safety

 Consumer attraction

 Accessibility

 Environmental friendliness

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Brand

Name, symbol, word, design, or combination of these elements that identifies a product, service, or company

Trademark-the legal protection of words and symbols used by a company

Licensed brand-well-known name and/or symbol established by one company and sold for use by another company to promote its products

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Levels of Brand Recognition

 Non-recognition

 Rejection

 Recognition

 Preference

 Insistence

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The Product Life Cycle

 Introduction Stage

 Growth Stage

 Maturity Stage

 Decline Stage

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Positioning a Product

Differentiating the company’s products or services from its competitors’ products or services

Involves status, price, brand recognition, and other factors

Making comparisons to the competition to point out differences in the products

Celebrity endorsements (NIKE-Michael Jordan)

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