Marketing Basics
The creation and maintenance of satisfying exchange relationships
What is marketing?
Which "P" is the location of the event?
Distribution (place)
Shared characteristics like age, gender, income, education
What are demographics?
What standard is about pricing tickets?
Pricing
What is entertainment marketing?
Use the right marketing mix to meet customer needs while generating a profit.
What is the goal of sports marketing?
Promotion
Dividing an audience by location
What are geographics?
Which standard is about advertising/communication?
Promotion
What device has become the entertainment device of choice for many consumers?
Smartphones
What are the 4 P's of marketing?
Product, Price, Place (Distribution), Promotion
Which "P" is ticket pricing?
Price
Interests, values, attitudes, lifestyles.
What are psychographics?
Which standard is gathering info about customers?
Marketing Information Management
Entertainment delivered instantly instead of downloaded.
What is streaming media?
Money left after necessities and fixed expenses.
What is discretionary income?
Which "P" is the actual sporting event or concert?
Product
What type of income influences how much fans can spend?
Discretionary income.
Which standard is creating or improving products?
Product/Service Management
The number of viewers programming attracts
What are ratings?
The specific group most likely to want your product/service.
What is a target audience?
What's another name for the marketing mix?
The 4 P's of Marketing
True/False - Psychographics focus on where people live.
False (that's geographics)
Which standard requires budgeting for marketing activities?
Financing
How has technology changed entertainment marketing?
Easier mass distribution, interactive TV, smartphones, customer feedback online.