-Notes
What is sports and entertainment marketing?
Marketing Basics * Marketing- planning and executing the conception (product), pricing, promotion, and distribution (place) of ideas, goods, and services to create exchanges that satisfy needs/ objectives. * AMA- American Marketing Association * Price is cost to make it and the + * Promotion- is how you got the name out there * Distribution- shipping out of your goods * An idea is intangible and relates to a feeling * Blending of four marketing elements
-product
-price
-place
-promotion

Customer Needs * Customers needs should be primary focus of marketing * Products must be desirable * Ability to operate profitable ( housing market was a key indicator as to the U.S. economy)

Marketing Functions * Product/ Service management: Designing, developing, maintaining, improving, and acquiring products or services so they meet needs * Nike has decided to produce pink running shoes in support of breast cancer awareness. Which function of marketing is this? Product/ service management. * Distribution (place): Determining the best way to get a company’s products or services to the consumer. * Getting the materials to the manufacturing plant, Where to distribute your products, * Selling: direct and personal communication with customers * Marketing- Information management: gathering and using information about customers to improve business decisions making * Click Stream Data Collection * Marketing-information: gathering and using information about customers to improve business decisions making * Financing: budgeting for a company’s success AND assisting customers in the purchase of products * Lay is a way to discount customers * Pricing: process of establishing and communicating the value or cost of goods and services to