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lu06_assignmentsports.pdf

MGT 220: Introduction to Sport Management Learning Unit 6: Assignment

LU06 Assignment: Marketing

Follow the directions below to complete your unit assignment:

1. You are the marketing director for a minor league hockey team in a city of your choice. Using

each of the bases of segmentation discussed in this chapter, identify five distinct market

segments that you will target. Develop 10 gameday promotions (autograph night, discounted

beverage night, etc.), with each segment that you have identified being targeted by at least two

of them. Try to be creative with your promotions.

2. Remember to include your last name in the file name and attach it to the Assignment

submission area in the learning unit.

3. This does not have to be written in an essay format.

4. The response is to be relatively free of distracting mechanical and grammatical errors.

5. The response must provide sufficient evidence and/or explanation.

© Peyton Bakalar and Indian Hills Community College

chapter09.pptx

Sport Marketing

Chapter 9

Chapter Objectives

Properly define marketing and sport marketing;

Appreciate that successful marketing begins with understanding the customer;

Recognize the role of marketing in sport;

Understand segmentation and positioning;

Identify the key components of a marketing plan

So You Want to be a Sport Marketer?

NOT just advertising and sales!

Marketing is essentially UNDERSTANDING the customer!

What are the customer’s wants, needs, and desires?

Do customers attend sporting events “only” because of the quality of the home team?

What other factors may contribute to their attendance/non-attendance?

Formal Definitions

Marketing – the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large

Sport Marketing – the proactive efforts that are designed to influence consumer preferences for a variety of sport products and services (Mullin, Hardy, and Sutton, 2007, p. 11)

©salajean/Shutterstock, Inc.

The process of dividing large, unlike groups of consumers into smaller, more defined groups of people who share similar characteristics.

Market Segmentation

5

Market Segmentation

Demographics

Gender

Age

Family size

Income

Ethnicity

6

Market Segmentation

Psychographics

Lifestyles, activities, interests and opinions

Notice that these attributes may be influenced and change more readily than most demographic information

A 35-year old male earning $46,000 a year living in San Francisco is likely to have different interests and opinions than a 35-year old male earning $46,000 a year living in Tulsa, Oklahoma

But we rarely assume in marketing; we test and verify, especially since everyone is an INDIVIDUAL!

Market Segmentation

Benefit Segmentation

Different consumers may seek different benefits from the same product

Faculty and staff members attending a campus sporting event may have different motivations than students

The “on-field” action may not be the primary attraction for many on-site consumers!

What reasons cause students to attend sporting events?

Are there some students on campus who would not be interested in sporting events? What would likely be their reasons?

Market Segmentation

Geographic Segmentation

What are the attributes of your geographic location?

Urban

Rural

“College Town”

Weather

Others?

Market Segmentation

Geodemographic Segmentation

Birds of a feather flock together

Visualize where you lived in high school – did most of the parents in your neighborhood have similar jobs? Interests? Incomes? Beliefs?

PRIZM System

Knowing the “cluster” can determine the likelihood of marketing success

Relationship Marketing

Marketing with the conscious aim to develop and manage long-term and/or trusting relationships with customers, distributors, suppliers, or other parties in the marketing environment

Lifetime Customer Value

Do you prefer Coke or Pepsi? Do you have a preference for one type of beer? How many of these products have you consumed in your lifetime? How many more will you consume in the future?

Relationship Marketing

Bonding – creation of unified commitment

Financial bonding – financial incentives

Frequent flier bonuses

Social bonding – social or psychological incentives

Fan Identification

Personal commitment and emotional involvement customers have with a sport organization

13

Branding

Brands – name, term, design, symbol that identifies a product as different than another

Tangible and intangible attributes

Brand Equity – what is the brand worth?

Is the brand recognized?

If recognized, what do consumers associate with the brand?

Perceived quality of the brand?

Will consumer’s insist on buying it?

Positioning

Establishing a brand’s image in the minds of consumers

What is a brand’s personality?

Examples of various sport and non-sport brands?

External Contingencies

What cannot be controlled?

Economy

Technology

Competition

Physical environment

Cultural trends

Political and legal environment

Utilizing a S.W.O.T. analysis each year will help recognize and potentially adjust product and brand characteristics to adapt to the changing environment

The Marketing Plan

How does all of this information come together to impact decisions?

17

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chapter10.pptx

Sport-Sales and Revenue Generation

Chapter 10

Chapter Objectives

Describe how consultative selling differs from traditional selling;

Articulate how consultative selling creates an impact;

Demonstrate how to use the bridging-the-gap sales process;

Highlight how to keep good relationships and help clients make investment decisions;

Chapter Objectives

Understand how to establish business credibility;

List some rules that help influence buying decisions;

Apply these influence rules to the sport-sales setting;

Demonstrate the ability to analyze customer needs;

Outline the process of recommending solutions and gaining commitment.

Introduction

United States is capitalistic country

Sport is a capitalistic industry

If you can sell, you will always be employed, so ALWAYS be selling!

It is not uncommon for Chief Executive Officers, Presidents, Vice Presidents, and other high-ranking sport business managers to be actively involved in selling as a key component of their job.

What is Selling?

Ticket sales are the lifeblood of sport enterprises.

Other revenue streams impacted by ticket sales:

Sponsorships

Parking

Concessions

Licensed merchandise

Remember – what are the customers’ WANTS, NEEDS, and DESIRES?

Sales – A Critical Component of Sport Business Training

Necessary elements:

Philosophy agreement – make sure mission and goals mesh with individual philosophy

Product – thoroughly understand the product, its uses, benefits, etc.

Prospect – develop a prospect database

Practice – sales requires practice to develop skills

Performance – combine real world selling with ongoing analysis

Pentagon of Sports Sales Training

7

Sales Process

Typically, the sales process involves the following steps:

Ensure philosophical agreement

Develop and organize prospects

Adopt a sales-consultant approach

Open the sale

Conduct the analysis

Reach an agreement

Close – get an action commitment

Add value and obtain personal introductions

Sales Process

Ensure Philosophical Agreement

Learn, understand and internalize the organization’s culture

One cannot maximize sales opportunities without first having a thorough understanding of the organization

Know what the organization expects

Performance standards

Technology available

Development of new products

Common Philosophies

Common Sport-Industry Sales Philosophies

Adapted from Irwin et al. (2007). Pentagon of Sport Sales Training: A 21st Century Sport Sales Training Model.

Sales Philosophy Summary
Sun Tzu–Art of War Adaptation Relationship selling based upon being prepared and anticipating customer needs and interests—win-win thinking (Michaelson & Michaelson, 2004).
Prize Inside An up-front approach to benefit-based selling based upon the premise that every consumer wants to know their prize—how do they benefit from or what do they get from the sale (Godin, 2004)?
The Customer Comes Second Sales staff needs must be satisfied before those of the customer (Rosenbluth, 1992).
Consumer-Behavior Driven Sales success involves identifying and understanding potential consumers, and creating personal relationships in order to persuade customers (McCormack, 1996).
Eduselling Educating and partnering with customers before, during and after the sale leads to purchase satisfaction and long-term customer retention (Sutton, Lachowetz, & Clark, 2000).

Sales Process

Develop and Organize Prospects (“Leads”)

After you know your product to be sold, the potential prospects should be identified

There is no reason to waste your time attempting to sell a product to someone who has no potential interest or need for the product or ability to purchase

Even when prospect lists contain “likely customers,” it will usually require approaching many prospects to secure a small amount of presentations that will then generate an even smaller amount of sales

100 – 10 – 3 rule of sales

Know Your Prospects

Important information

What do they want?

Why do they want what they want?

How can they be reached?

When should they be reached?

What message will increase the likelihood of closing the sale?

Are they concerned about price? Convenience? Opportunities to consume with their friends? Other wants, needs, and desires?

Potential Prospecting Sources

Where does one find potential prospects?

Can these lists be generated?

What information might the organization already have? (past ticket purchasers, etc)

Can these lists be purchased?

Remember, be creative in your initial development of potential prospect lists

Sales Process

Adopt a Sales-Consultant Approach

Remove fear of failure

You will be told “no” many more times than you will be told “yes.”

By diagnosing a “solution” to the wants, needs, and desires of the customer, the rate of sales will increase.

Knowledge of the potential link between the products offered and the customer’s needs is critical!

Sales-Consultant Approach

This is not a “used-car salesman” approach

Consultant selling seeks to fulfill wants, needs, and desires rather than generate a quick “impulse” purchase.

A satisfied customer is likely to be a repeat customer

A satisfied customer can potentially help sell the product to other people

The sales process should build a relationship, not just a one-time transaction

Danger Areas

Do not

Attempt to make the sale at all cost

Deceive the customer

Fail to listen to the customer

Create an unhealthy relationship by selling the customer something that does not fulfill their wants, needs, or desires

Remember – your reputation in the industry will grow quickly, what do you want that reputation to be?

Sales Process

Opening the Sale

Make a good first impression

Dress, speak, and present in a professional manner that is appropriate for the situation

Build rapport

Be confident, energetic, and enthusiastic

Ask questions and LISTEN!

Diagnose problems and potential solutions

Treat the customer with respect at ALL times

Sales Process

Key things to remember

Know your product/service

Time is valuable

Have a plan

Do not directly denigrate a competitor, instead, focus upon the benefits of your product offerings

Be realistic

Be able to deliver upon promises

Sales Process

Hearing and addressing concerns

Maintain your confidence at all times

Remember, a rejection of the product is not a rejection of you as a person

Demonstrate empathy

You must convey to the customer that you know and understand their concerns

Use questions to determine specific answers

Position your solution

Check to insure the client has understood and agreed

How to Influence Behaviors?

Robert Cialdini’s Rules of Influence include:

Reciprocation

Commitment and Consistency

Social Proof

Liking

Authority

Scarcity

Know the appropriate area(s) to utilize with specific clients

Everyone is not equal in their attitudes, beliefs, experiences, etc.

Sales Process

Reaching Agreement (Closing the sale)

You must always ask for the sale!

Types of Closes

Invite Close

Assumptive close

Alternative close

Order-sheet form close

Authorization close

“I want to think it over” close

Sales Process

Obtaining personal introductions

The questions you ask and the comments you make will help close the sale and move to the next step – obtaining potential referrals

Sales are much more likely to occur if a friend or colleague makes the introduction

Create “warmer” leads for the future

Important Sales Terms

Commission – percentage of sales that the sales professional receives as compensation

Telemarketing/teleselling – sales approach that features the use of personal selling techniques in a non face-to-face context and utilizes telecommunications technology

Override – compensation provided to a sales professional who oversees a sales staff

80/20 rule of sales – 80% of revenue is generated from sales to 20% of the customer base.

Relationship marketing – integrating the customer’s wants, needs, and desires with an organization’s strategic marketing plan to create and sustain a long-term relationship

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a great idea to take a course that focuses on the sales process, even if that course is not offered as part of the standard sport-management curriculum.

The Sales Process While there may be variations, the sales process usually consists of the following:

1. Ensuring philosophical agreement. 2. Developing and organizing prospects. 3. Adopting a Sales-Consultant Approach. 4. Opening the Sale. 5. Conducting the Analysis. 6. Reaching an agreement. Obtaining purchase consent and following-up with

the client. 7. Value-adding and obtaining personal introductions.

Step 1—Ensuring Philosophical Agreement Insuring philosophical agreement involves learning, understanding and internaliz- ing an organization’s sales culture and sales philosophy. A sales organization’s cul- ture reflects its physical, emotional, and developmental environment. Reflecting this environment, a sales philosophy is an organization’s strategic approach to sell- ing. A firm’s sales philosophy is continually revised and modified based upon con- sumer feedback and sales-success levels.

190 Chapter 9 Sport Sales and Revenue Generation

F I G U R E 9 . 1 Pentagon of Sport-Sales Training Irwin et al. (2007). Pentagon of Sport Sales Training: A 21st Century Sport Sales Training Model.

Sales Success

Performance Practice

Pentagon of Sports Sales

Training

Philosophy

Product Prospect