4 P’s Sport Marketing Assignment35 pointsDue Thursday, April 8 by 11:55pm You ar
4 P’s Sport Marketing Assignment35 pointsDue Thursday, April 8 by 11:55pm
You are in charge of ticket sales for the New York Giants of the National Football League. The Giants play at MetLife Stadium, which has an official seating capacity of 82,500. Since hitting their peak in 2012 when they averaged over 80,000 fans per game, average attendance has gradually declined to the point where the Giants averaged less than 75,000 fans per game in 2019 for the first time in the stadium’s history. Additionally, no fans were permitted in the stadium during the 2020 season due to COVID-19.When providing your reasoning for answering the following questions, keep in mind the 4 C’s. Who are your consumers, what your company is, who your competitors are, and what the current climate (external) factors are. As we have discussed, one of the most important questions going forward for sport properties will be determining how to continue to get fans to attend live games when the at-home experience continues to increase in attractiveness…not to mention added COVID concerns. As such, you will detail a plan, hitting on key points of each of the 4 P’s, to increase ticket sales. Answer each of the following questions in full, with explanation of your choices. Backing up your explanation with facts/statistics will greatly strengthen your plan. You are focusing specifically on the New York Giants – not the entire league or other teams. Remember that the 4 P’s should act as a cohesive strategy – each decision impacts each of the other 4 P decisions, so the answers to these questions should be linked. As such, the overall plan should be explained in a way that displays integration between answers to each of the 4 specific questions.You can choose to answer each question separately, or write your answer as a paper that encompasses each of these issues.
1.(Chapter 8) For the purposes of this assignment, let us assume that ticket sales have reached the critical decision point of the product life cycle. Therefore, you must choose a Product Market Growth Strategy to focus on (Market Penetration, Market Development, New Product Development, Product Diversification) in order to prevent entering the decline stage. Explain which strategy you are going to utilize, and how you will utilize it to increase ticket sales.
2.(Chapter 9) Detail three different pricing methods you could use to best pair with the strategy you chose above. These three methods should work in conjunction with each other. Look at the examples on pages 272-273 (also the slides of the powerpoint) for an example. You’ll want to identify an overall objective of what you want to accomplish, and a strategy of how that objective can reasonably be attained. From there, detail how each pricing method could be utilized to help accomplish your objective.
3.(Chapter 10) Choosing a distribution system is most successful when we consider it in terms of the product we are trying to sell and the pricing methods we are utilizing. With each of these in mind, explain your system for getting information to potential consumers. Your focus here is specifically ticket sales. Will your system be simple or complex? If simple, are you sure your company has the resources to complete this on their own? If complex, what type of intermediaries will you use, and why? Provide justification either way.
4.(Chapter 11) The final touch is choosing the promotional methods we will employ to best inform our consumers. Focus on the four main categories of promotion methods (advertising, personal selling, sales promotions, publicity) and describe which ones you will use to sell tickets, how you will use them, and how they will be tied to the specific pricing methods you identified. Promotional methods should relate to each of the previous three answers – the growth strategy you chose, the pricing methods you selected, and the distribution system you outlined.
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