Entertainment Marketing 1

Four C’s of Entertainment
Content, Conduit, Consumption,Convergence
Content
the basic idea (product/initial idea)
3 steps of content
creative idea
copyright
production
conduit
the distribution of the entertainment product ex: iPhone or concert etc.
consumption
when the consumer buys and consumes the product example buys movie ticket watches movie
convergence
the ability to create, transmit, and capture all information in a digital format
P’s
price, product, place
endorsement
approval or support of a product or idea by a celeb lending his/her image to a product must have a good match ex: selena pantene
core product
main product
ancillary product
a product related to a core product ex: concert tshirt
place:
buzz to see a game, movie or concert
where product is transferred/stored
price
rarely are there sales, based on supply and demand
unique price issues
strikes and lockouts- hurt ticket sales in the short run (tickets being taken off of ticket master)
ticket scalping buy a ticket at $40 and sell it at $80
Piracy
unauthorized use of an owner’s or creators music movies or other copyrighted material
royalty
a payment for material that has been copyrighted or legally declared belonging to it’s creator
product tie-in
the use of ancillary products such as merchandise as promo tools
cross promo
a form of communication which one industry relies on another to promote its product
ex: ellen pompeo on jimmy fallon
Synergy
a combined action that occurs when products owned by one source promote the growth of related products
ex: ellen with ellen underwear
Great depression what thrived/struggled
thrived: radio and disney
struggled: newspaper and baseball
summary of the great depression
people will spend money on entertainment, less than during boom times, some forms thrive or struggle
After WWII what happened
people bought more entertainment products when they have less work and more free time, a disposable income and advancing technology
Recent history real growth
45%
How does entertainment differ from other forms of promo
1. award shows
2. expanding channel of distribution (Apple TV)
3. focuses on all products even the ones as a spun off
4. requires a universal understanding of the language-locally and internationally
5. speed way faster than other promo
6.every film/cd has to be different
7.misfire (bad box office) must be counteracted immediately
8. Budgets are way higher
9. Content is based totally on creativity
10. Change of release dates
11.selling an experience rather than an object
12. subject to whims just like fashion (try to fit in with trends
excitement for discovery
prizes in cereal
revaluing
buying a car instead of motorcycle after college
family values
commercials of minivans/wii u
desire to belong
nike uses athletes/ wearing jerseys
fun is it’s own reward
old navy jeans
poverty of time
hamburger helper
best one can get
mercedes
self achievement
lifetime fitness/P90X
sex, love, and romance
kay jewelry
nurturing response
life alert
reinventing oneself
artists changing music to be more trendy
weight watchers
make me smarter
khan academy, language learner
power, dominance, influence
trucks selling estostrone
wish fulfillment
disney world, NBA kids wanting to be in the NBA
Marketing
the process of developing, promoting and distributing products or goods and services to satisfy the customers needs
marketing concept
businesses should satisfy customers’ needs and wants while making a profit (Win-Win)
market
the individuals or companies that are interested in a particular product or service and are willing and able to pay for it
target market
a specific group of customers that an organization selcets as the focus of its marketing plan
mass marketing
using a single marketing plan to reach all customers
niche marketing
a focused targetable portion of a market
demographics
are statistics that describe a population in terms of personal characteristics ex: age, income, occupation, gender etc.
psychographics
studies of consumers based on social and psychological characteristics-criteria for segmenting consumers by lifestyle, attitudes, beliefs, values, personality, buying motives, and/ or extent of product usage
Market Segmentation
a way of analyzing a market by specific characteristics to create a target market characteristics may include: demographics and psychographics
marketing mix:
a combo of four basic marketing strategies- product, price, place, and promotion. to be effective all 4 P’s in a marketing plan must focus on the target market