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Create a mental map of this brand (please refer to Nikkei example discussed in class) that identifies the “top-of-mind” images or associations your team has of this brand. A mental map is a list of abstract associations that consumers equate with a brand. To create your brand mental map, answer this question, “When you think of this brand, what images come to mind – IEEE: colors, symbols, personality traits, etc.? ” a. How similar are these associations among the members of your team? For comparison purposes, can you think of a brand that is non-descriptive, as no clear associations or image) such as a lesser know, weak brand)? . Research your choice online and from your own perspective 3. Identify and analyses the up’s of the Marketing Mix. 4. Based on your research and assessment, from a fans’ perspective, assess how the up’s from the “Sports Marketing Mix” be interpreted? Backgrounder: Marketing is a process of determining a consumer’s needs, devising a product or service to satisfy those needs, and trying to focus customers on the goods and services you are offering. Marketing is extremely important, and a fundamental alluding block for business growth.
A marketing team is given the task of creating customer awareness through a variety of different marketing techniques. If a business does not pay close attention to their consumer demographic and needs, they will eventually fail over time. Two important aspects of marketing include acquiring new customers, and the preservation and growth of relationships with current customers. Marketing has always been viewed as a creative outlet, which encompassed advertising, distribution, and the selling of goods and services. Marketing staff will also try to anticipate what customers will want in the future, often being accomplished with market research.
In summation, a good marketing plan should be able to create a favorable proposition or series of benefits that a customer can value through goods or services. Sport marketing is a subdivision of marketing which focuses both on the promotion of sports events and teams as well as the promotion of other products and services through sporting events and sports teams. It is a service in which the element promoted can be a physical product or a brand name. The AOL is to provide the client with strategies to promote the sport or to promote something other than sport through sports.
Sport marketing is also designed to meet the needs and wants of the consumer through exchange processes. These strategies follow the traditional four ‘P”‘s of general marketing Product, Price, Promotion and Place, another four “P”‘s are added to sport marketing, relating to the fact sports are considered to be a service. The additional 4 As are: Planning, Packaging, Positioning and Perception. The addition of the four extra elements is called the “sport marketing mix. One element that sport marketing takes advantage of is that athletes tend to be brand loyal and fans tend to be loyal to their favorite athletes and teams.
This can be recognized through the contracts players and athletes sign with sports companies in which they get paid to wear or use their products in each game or sporting event. By doing so, the players and athletes and also their fans develop a loyalty to the products for a longer time. 4 “P'”s of general marketing and the 4 “P”s of the “sports marketing mix” 1. Choose a brand: consumer product or service that is a strong supporting partner n sports 2. Create a Mental Map. Research social media sites to see what others are saying about the brand that you chose 3. Identify the 4 “P'” s of the Marketing Mix a.
Product, Price, Promotion and Place 4. Identify the of the Sports Marketing Mix and look at it from a fans perspective and see if you can point out the differences a. Planning, Packaging, Positioning and Perception 5. Once you have completed points “3” and “4”, determine which do you feel is the easiest to control and why? 6. Your assignment is worth 12. 5% of your final evaluation. Due Date: Be prepared to present a 10 minute presentation to the class in week 9. There will be an additional 5 minutes for Q. You are to hand in a brief, typed report prior to the start of class. Reports not received at this time will not be accepted.
It is your responsibility to have backup copies of your assignments. 4 “P'”s of general marketing and the 4 “MS of the “sports marketing mix” Marks will be allocated as follows: 1) Presentation is well organized, flows smoothly 15 2) Evidence and quality of brand research /5 3) Major ideas are clear, sound assessment ) Quality visual aids used to demonstrate points /5 Total Evaluation: Team: Weak Adequate Strong Create a MENTAL MAP Individual Team 2 3 4 5 Research Identify & Analyses the 4 “P”s of the Marketing Mix From a fans’ perspective, assess how the up’s from the “Sports Marketing Mix” be interpreted?