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Sport Marketing Chapter 7 before

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Sport Marketing Chapter 7 before

  1. 1. Fundamentals ofSport MarketingChapter 7The Marketing Mix and the Sport BusinessIndustry 11
  2. 2. 22CompanyResearch & Information CollectionCompany Mission & GoalsConsumer Competitor ClimateSegmentationTarget Market DecisionsSport Marketing Mix Decisions & StrategiesMarketing Management StrategiesImplementation –Management – Evaluation – AdjustmentThe Sport Marketing Management ModelPriceProduct Place PromotionFigure 3.3 The Sport Marketing Management Model
  3. 3. 33CompanyResearch & Information CollectionCompany Mission & GoalsConsumer Competitor ClimateSegmentationTarget Market DecisionsSport Marketing Mix Decisions & StrategiesMarketing Management StrategiesImplementation –Management – Evaluation – AdjustmentThe Sport Marketing Management ModelPriceProduct Place PromotionFigure 3.3 The Sport Marketing Management Model
  4. 4. Marketing MixThe Marketing Mix is the strategic combination (mix) of fourelements called the 4 P’s: product, price, place, promotionCreation of the marketing mix involves the process ofdeveloping or discovering the right combination of the 4P’sAt the heart of the decision-making process is the researchconducted and knowledge gained about the consumer, thecompetition, the company, and the climate44
  5. 5. Constant monitoring of the4 C’s:ConsumerCompetitorCompanyClimateConstant monitoring to keep the rightmix of the 4 P’s:ProductPlacePricePromotionChange in the Marketplace Requires:55
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  7. 7. Marketing MixThe marketing mix elements are interrelated. Each elementaffects the others. The sport business professional mustdevelop the optimal combination of the elements.Every decision should be an INFORMED andEDUCATED decision based on research.The primary strategy in designing the marketing mix is tocustomize the elements for a specific consumer market untilthe optimal mix is found.ProductPricePlacePromotion77
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  9. 9. The Marketing Mix: The FourP’sMarketing MixMarketing MixPromotionPromotionPlacePlacePricePriceProductProductWhat you havecreated for theconsumer.Exchangeagreement withthe consumer.Getting theproduct to theconsumer.Communicationto/with theconsumer.99Figure 7.3
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  11. 11. The consumer is looking forthe right product,at the right price,at the right place,and is influenced by the right promotionalstrategy.1111Marketing MixMarketing Mix ProductI wantProductI want Price IwantPrice Iwant PlaceI wantPlaceI want PromotionsI wantPromotionsI want
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  13. 13. Product Price Place Promotion Features Accessories Installation Instructions Service Warranty Product lines Packaging BrandingObjectives Flexibility Product lifecycle Geographicterms Discounts Allowances Objectives Channel type Market exposure middlemen Kinds andlocations of stores transporting andstoring Service levels Recruitingmiddlemen Managingchannels Objectives Promotion blend Sales peopleKindNumberSelectionTrainingMotivation Advertising:TargetsKind of adsMedia typeCopy thrustPrepared bywhomThe Marketing Mix1313Figure 7.5
  14. 14. 1414CompanyResearch & Information CollectionCompany Mission & GoalsConsumer Competitor ClimateSegmentationTarget Market DecisionsSport Marketing Mix Decisions & StrategiesMarketing Management StrategiesImplementation –Management – Evaluation – AdjustmentThe Sport Marketing Management ModelPriceProduct Place PromotionFigure 3.3 The Sport Marketing Management Model
  15. 15. Fundamentals ofSport MarketingChapter 7The Marketing Mix and the Sport BusinessIndustryEnd... Questions?1515
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