chapter 10

1. chapter10 Marketing and Sales chapter 10 Marketing and Sales Author name here for Edited books

2. Marketing Concepts • Marketing examines the process of getting potential customers to purchase a product or service. • Key principles to remember: • Customers are an asset that become more valuable over time. • Quality can be a competitive strategy for your sport business. • All businesses are service businesses.

3. Four Ps of Marketing • Product • Place • Price • Promotion • Some use 5th to 11th Ps: • Publicity • People • Position • Payback • Policy • Partnerships • Professional connections

4. Product • A product is what the business has to offer to its prospective customers, users, clients, or constituents. A product can be a good, service, or idea. • What is unique about the sport product that helps sell it? • Perishable • Unique • Passion • Friendships

5. Place • Place refers to where the product or service is sold or distributed. • Place also refers to how the product reaches customers, how quickly it reaches them, and in what condition the product will be in when it finally reaches the customers.

6. Price • How much does it cost? • How does the cost compare to cost of similar products? • Price refers to the amount of cash or items given in exchange to conclude a transaction. • Price is always on trial in every marketplace since price can be considered too high or too low at different times. If a ticket price is too high, people might not purchase a ticket. Furthermore, if a ticket is too cheap, then the customers might perceive the ticket as lacking value.

7. Promotion • How is the product sold? • Promotion refers to the process of informing people about the product, price, or place. Three primary vehicles are used to promote a service or product: • Advertising • Publicity • Personal selling

8. The Marketing Process • Customer identification • Research • Selling experience

9. Research • Market segmentation: Can or will they buy the product? • Demographics • Psychographics • Benefit segmentation • Geodemographics

10. Selling Experience • Steak: primary focus • Sizzle: ancillary benefits such as between innings or halftime events or giveaways such as Beanie Babies, bobble heads, and thunder sticks

11. Marketing New Facilities • Attracting anchor tenants • Attracting shows or events • Developing strong relationships: This is a small industry so your reputation is very important

12. Sales • Identify what you have to sell • Tickets • Luxury seating or boxes • Concessions • Sponsorship • Naming rights • Pouring rights • Establish a price: Supply and demand

13. Numerous Sponsorship Opportunities Sold at a Ballpark

14. Summary • The sport industry relies on marketing to generate revenue. Whether through publicity, advertising, or personal selling, sport facilities need to position their product to attract potential customers. • Through conducting in-depth research and identifying what customers want, a facility can sell their steak and sizzle.

15. Discussion Questions and Activities • What are the products offered at a stadium or arena? • How would you go about selling tickets to a less popular event? • Develop a sample survey to help determine what your customers want. • Develop a marketing plan to help generate at least five sellouts for a local sport organization. Be as specific as possible.