Goods – tangible products The process of developing, promoting, distributing and selling goods and services to satisfy customers’ needs and wants Services – Intangible products 2 The idea that a business should strive to satisfy customers’ needs and wants while generating a profit Sports marketing is using sports to market related and unrelated products. NIKE Jordans Hanes 4 Nike logo on college jerseys! Sports Logos on Clothing New sports, new opportunities Soccer popular during World Cup time Lacrosse growing every year Timing New apparel coming out in preparation for the upcoming season! 5 Using entertainment to sell related and unrelated products Influencing how people choose to use their time and money for the purpose of entertainment Using recreation (hobbies, travel, tourism, etc.) to sell related and unrelated products Examples Camping Running Amateur Sports What Moves You? 7 A specific group of people that a business wants to reach with their goods or services 8 Geographics – where people live Demographics – personal characteristics Psychographics – lifestyle (attitudes/values) Product Benefits – consumer wants and needs 9 Characteristic of the market you are trying to reach •Age •Marital Status •Gender •Kids or no kids •Ethnicity •Location •Occupation •Income level •Lifestyle 10 The 5 P’s of Marketing People Product Price Promotion Place 11 Product – what is the product – (name, packaging) People – the target market Price – what customers are willing and able to pay Place – where is it sold and how it gets there Promotion – how is the product marketed 12