What is Marketing?

1
What is Marketing?
What are the seven functions of marketing and how
do they apply to sports Marketing?
2
What is marketing?

• Marketing
• all business functions involved in developing,
  promoting, and distributing products in order to
  satisfy customers needs and wants.
• Products include both Goods and Services

3
Marketing

• Goods are tangible products
• Products that can be touched
• Includes Sports equipment
• Bobble-Head Dolls
• T-Shirts
• Services are intangible products
• Products that can not be touched
• Includes Ticket buying services
• Entertainment

4
Functions Of Marketing

• All the marketing activities you see daily can be
  classified into seven functions of marketing

5
Seven Functions of Marketing
MIMMarketing Information Management
6
Marketing Research or Marketing Information
Management

• The process of collecting the marketing
  information needed to make sound business
  decisions.
• How much to charge for tickets
• Which products to carry
• Product Packaging
• Labeling
• Branding

7
Product Planning

• All the decisions a business makes in the
  production and sales of its goods and services.
• Which products (Player/movies) to carry
• Product Name
• Product Packaging (Uniforms/Stadium/Theater)
• Labeling
• Branding

8
Distribution

• Making decisions about where to sell your
  product, how to get them there, and how to store
  them.
• Includes
• Marketing Channels
• Retail, Online, Door to Door
• Methods of transportation
• Storage/Warehousing

9
Financing

• Locating and securing monies needed to operate a
  business and develop new products.
• Includes decisions about customer credit and
  payment options.

10
Pricing

• Deciding how much to charge for goods and
  services
• Price Affected by
• Competition
• Customer
• Costs of gathering information (Research)
• Costs of financing business
• Costs of Payroll
• Costs of advertising and promotion
• Distribution costs
• Level of profit

11
Pricing

• What is a reasonable price?

• Whatever the customer is willing to pay.

12
Promotion

• Any form of communication used to inform,
  persuade, or remind people about businesss
  products, and improve its public image.
• Advertising
• Public Relations
• Sales Promotion
• Personal Selling
• Visual Merchandising

13
Selling

• Providing customers with
• goods and services they want to buy.
• Includes selling in the retail market to you, and
  in the industrial market where products are
  purchased for use in business operations.

14
Review

• What is marketing?
• What are the seven functions of marketing
• Give an example of a good and a service.