Sports and Entertainment Marketing

Syllabus:

Unit 1: Basic Principles of Marketing

In order to understand sports and entertainment marketing, you need to have a good grasp of the basic principles of marketing in general. Therefore, before we dive into the course, we’re going to review the fundamentals of marketing. Pay close attention during this unit so that you can reference the material as you proceed through the rest of the course.

What will you learn in this unit?

• Explain the exchange process.
• Define marketing.
• Discuss the importance of determining target market.
• Compare and contrast real vs. perceived value.
• Identify and describe different types of utility.
• Define market research.
• Identify types of market research.
• Discuss the effects of the Internet on marketing.
• Compare and contrast Internet marketing and traditional marketing.
• Identify the basic components of Internet marketing.

Unit 2: Introduction to Sports and Entertainment Marketing

Do you want to know how Lady Gaga remains so popular or why athletes make so much money? Sure, talent plays its part, but in order to fully answer this question, you need to understand the sports and entertainment marketing industry. In the last unit, we discussed the basic principles of marketing. You learned about how a company brands itself, identifies its target market, and creates a perceived value for its product and/or services. Now, we’re going to apply this knowledge to the field of sports and entertainment marketing. The key here is to think of the sports team or entertainer as a commodity—that is, a marketable item that satisfies a want or need.

What will you learn in this unit?

• Demonstrate knowledge of the history of sports and entertainment as an industry and how it relates to today’s marketplace.
• Distinguish among sports and entertainment marketing terms.
• List major environmental influences on the demand for sports and entertainment.
• Research sports and entertainment marketing information.
• Explain legislation that impacts sports and entertainment marketing.
• Describe activities to market a sports property.
• Define and simulate sports properties and marketing.
• Discuss why teams use marketing.
• Discuss the various roles in sports and entertainment marketing.

Unit 3: Principles of Effective Sports and Entertainment Marketing in the 21st Century

In the last unit, you learned the basics of sports and entertainment marketing. We discussed how this particular industry markets its commodities and makes money by selling both core and ancillary products. These are strategies that event marketers have been using for decades and decades, and they still make up the backbone of this type of marketing. However, new technologies such as the Internet and social media have made their mark on the industry. In this unit, we’ll explore these and other new advancements and discuss the current, most effective strategies for marketing sports and entertainment commodities in the 21st century. We’ll also delve more deeply into the tried-and-true marketing strategies that may be enhanced by technology, but have not changed fundamentally since the very beginning of sports and entertainment marketing. You’ll be invited to think critically about these strategies, both as a consumer of these commodities as well as a marketer working within the industry.

What will you learn in this unit?

• List and describe the marketing fundamentals that drive sports and entertainment marketing.
• Discuss how technology has changed the sports and entertainment marketing industry, for better and for worse.
• List and describe trends and emerging technologies affecting sports and entertainment marketing.
• Describe the challenges the sports and entertainment marketing industry currently faces and how they can navigate these challenges.
• Define key terms related to the principles of effective sports and entertainment marketing.

Unit 4: Diversity & Demographics

In the last unit, we discussed how one of the main strategies for building a successful sports and entertainment marketing campaign is to hit the target market—that is the types of people most likely to purchase a particular sports or entertainment commodity. However, identifying a single target market for such a commodity is neither possible nor desirable. After all, there are likely many different types of consumers interested in attending a certain event or purchasing sports apparel. That’s where diversity and demographics play their role in the game of sports and entertainment marketing. In this unit, we’ll take a look at the statistics regarding sports fans and their behavior as well as how the sports and entertainment marketing industry is adapting in order to meet the demands of a broader and more diverse market.

What will you learn in this unit?

• Discuss how the use of demographics has influenced the industry.
• Explain elements of culture and the need for understanding cultural diversity.
• Identify how diversity affects sports and entertainment markets.
• Describe how the broader female fan base has impacted marketing efforts.
• Explain the impact of multiculturalism on sports and entertainment marketing activities. 

Unit 5: Event Marketing

In the last unit, we talked about how diversity and demographics affected the sports and entertainment marketing industry. You learned how athletes, entertainers, teams, companies, and organizations determine key characteristics of different segments of their target markets and then modify their marketing strategies accordingly in order to effectively reach a diverse market. In this unit, we’re going to discuss one of the key components of the sports and entertainment marketing field—event marketing.

What will you learn in this unit?

• Discuss the components of the event triangle.
• Describe the exchanges developed in the event triangle.
• Explain the effects of media broadcasting on the event triangle.
• Identify best practices in event marketing.
• Distinguish between push and pull marketing techniques.
• Distinguish between buzz and hype.
• Evaluate event marketing campaigns.
• Discuss how technology has impacted event marketing.
• Identify effective social media marketing strategies for event marketers. 

Unit 6: Product Marketing

In the last unit, we discussed the heart of the sports and entertainment marketing industry—event marketing. In this unit, we’ll explore another key component of the business—product marketing. Recall that at the beginning of the course, we determined that there are two key commodities that sports and entertainment marketers must promote to their prospects: core products and ancillary products. We identified the core product as the entertainer, athlete, or team. This core product must exist in order for any other related product to be sold. These related products, called ancillary products, depend on the draw of the core product in order to be appealing to the target market. There are many other factors that determine the success of these products, however. This unit will focus on how sports and entertainment marketers effectively promote, market, distribute, and sell their ancillary products.

What will you learn in this unit?

• Explain channels of distribution for sports and entertainment marketing products and describe activities of each channel member.
• Identify components of the promotional mix such as advertising, visual merchandising, and personal selling.
• Demonstrate visual merchandising techniques for sports and entertainment marketing.
• Analyze a promotional plan for effectiveness.
• Describe stages of new-product planning.
• Define product mix.
• Identify stages of the product life cycle for new or existing sports or entertainment marketing products

Unit 7: Sponsorships and Endorsements

It’s no surprise that the sports and entertainment marketing industry is big business. We all know that famous athletes and celebrities can become overnight millionaires or even billionaires, but you may find yourself wondering just how they make this enormous amount of money. Moreover, you might be curious as to how event organizers pay for the huge stadiums and elaborate film productions we’ve become so accustomed to. Where does all of this money come from? More often than not, the answer lies in sponsorships and endorsements. In this unit, we’ll take a look at how these agreements work to fund the sports and entertainment industry that we’ve come to know today.

What will you learn in this unit?

• Identify components and content for a sponsorship proposal.
• Define and explain sponsorship issues.
• Categorize costs associated with a sponsorship.
• Identify types of sponsorship sales and relationship development.
• Examine benefits of sponsorship opportunities.
• Explain laws that may affect an endorsement agreement.
• Identify components of endorsement contracts.
• Discuss issues related to celebrity behavior and endorsements.
• Research the rationale for a business to engage in endorsement contracts. 

Unit 8: Finances

Over the duration of this course, we’ve cited many examples of how athletes and entertainers hit the jackpot in the sports and entertainment marketing industry. It’s a multi-billion-dollar industry! With those big bucks, though, come lots of risks and a potential accounting nightmare. In this unit, we’ll be exploring the related field of finances and the impact it has on the sports and entertainment marketing industry.

What will you learn in this unit?

• Distinguish between buying for resale and buying for organization use.
• Explain the importance of identifying needs as the first step of the purchasing process.
• Demonstrate knowledge of the buying process by preparing a buying plan.
• Complete purchase orders and process invoices.
• Categorize business risks.
• Explain methods a business uses to control risks such as surveillance and safety training.
• Explain the use of inventory control information to prepare financial reports and make buying decisions.

Unit 9: Careers in Sports and Entertainment Marketing

Throughout this course, we have discussed the many ways that professionals have successfully navigated the field of sports and entertainment marketing, in some instances, making big bucks for both themselves and the athletes, entertainers, or organizations that they represent. This degree of success cannot be achieved by one individual alone, however. In most instances, it requires a great team effort, and not just from athletes or celebrities! In this unit, we will discuss the various roles professionals play in the sports and entertainment marketing industry, exploring how these positions interact in order to execute successful sports and entertainment marketing campaigns. As you progress through the course, pay particular attention to the job descriptions for each of these positions. Who knows? One of them just might be your future career!

What will you learn in this unit?

• Research careers in the sports and entertainment marketing industry.
• List and describe businesses related to sports and entertainment.
• Describe team function.
• Use teamwork to solve problems.
• Distinguish between the roles of team leaders and team members.
• Examine characteristics of good leaders.
• Identify employers’ expectations and appropriate work habits.
• Define discrimination, harassment, and equality.
• Use time-management techniques to develop and maintain schedules and meet deadlines.
• Evaluate how teams measure their results.
• Develop two methods to recognize and reward team performance.
• Justify the role of professional organizations, trade associations, and labor unions in the sports and entertainment industry.

Unit 10: Societal & Cultural Influences

Throughout this course, we’ve discussed the business and marketing side of the sports and entertainment industry. You’ve learned how the key players in this industry market themselves, make a living, and even account for their finances. In this unit, we’ll explore how this industry affects all of us by influencing individuals specifically and our culture and society as a whole.

What will you learn in this unit?

• Explain the psychology of marketing.
• Identify ways in which the sports and entertainment marketing industry impacts our society and culture.
• Discuss how celebrities influence young people.
• Evaluate the role celebrities play in politics.
• Define “referent power” and how it affects the influence of celebrities.
• Explain the merging of politics and celebrity and the implications of this merging.
• Demonstrate how to be savvy consumers of sports and entertainment commodities.