Friday, March 16, 2018

Friday, March 16, 2016 That was a close call....the Ides of March passes without incident once more. Glad my name wasn't Julius

Quotable


Amazon MIM

Feature/Benefit

Sponsorship and demographic

MIM  - http://censusviewer.com/state/NC
Google Trends - Greatest thing ever

The Ikea Effect

                                                        
Kaplan's SAT Question of the day
                                                            
MARKETING

3.01 Vocab - No vocab this week.  Best you study for a while on this one
2.08
What is a feature? What is a Benefit?


a. Define the following terms: feature, benefit, obvious benefits, unique benefits, hidden benefits, feature-benefit selling, and feature-benefit chart.

b. Identify sources of feature/benefit information.

c. Identify an example of an obvious or apparent benefit.

d. Identify an example of a unique or exclusive benefit.

e. Identify an example of a hidden benefit.

f. Describe how to prepare a feature-benefit chart for a product.
g. Prepare a feature-benefit chart for a product.



Product Mascots Quiz

Benefits of Product Knowledge


Scroll down to 60/20/20 Visual

Company Sales Process

2.08 Feature Benefit WS
Feature Benefit Selling Video
The Difference Between Features and Benefits



Wall of Iconic Marketing Crap
    Choose two/three different items
               Kodak Disc Camera
               Furby
               SodaStream
               Mr Potato Head

Assignment:
Feature Benefit Chart
https://docs.google.com/spreadsheets/d/1MAaOGp3EOsgzM6k7ZuG8o71NdQIZkx-oX0vU2HuubCg/edit?usp=sharing
Assignment:
Hand out 1 front and back sheet
Students will find 3 items in their home and do a feature/benefit assessment on each.
Due: Thursday, March 21, 2018 beginning of class

NOTE: A Benefit must have a reasonable Feature to balance it...Not, yellow in color - saves money.  Does not equate

                                                                                                                                                    
SPORTS AND ENTERTAINMENT MARKETING

1.13
If they are paying you that much money….how do they know they are getting great value?




Research paper - short, read

Assignment - Due beginning of class on the following date

5 points for rough draft - MArch 23
15 points for final paper - 1 week after I hand back you rough draft.
Project Grade

Sponsorship basics - cheat sheet


1.14

  1. Explain the importance of developing a mutually rewarding business relationship when selling sponsorships.
  2. Identify frequently encountered problems with sponsorship sales.
  3. Discuss the importance of creating value for sponsors.
  4. Describe considerations in the sponsorship sales process.
  5. Demonstrate procedures for selling sponsorships.

1.15

  1. Define the term “sponsorship proposal.”
  2. Discuss the need for sponsorship proposals.
  3. Identify components of sponsorship proposals.
  4. Describe characteristics of effective sponsorship proposals.
  5. Explain the importance of using statistics to support claims in sponsorship proposals.
  6. Demonstrate procedures for writing a sponsorship proposal.


The following points need to be considered before searching for sponsors:

  • The club must be clear about what product it has to offer a sponsor. If offering naming rights to a major event (for example a tournament) the sponsor must be sure of the club's ability to run that event efficiently. A poorly run event would reflect badly on the sponsor
  • It is vital that an accurate assessment of income and expenditure is made and how sponsorship will help
  • Identify funding requirements and the best form of fundraising. If it is sponsorship, what form might it take? For example, if you need money to extend the clubrooms then perhaps the best form of sponsorship could be the supply of building materials at cost price
  • Establish the value of the sponsorship to a sponsor and be specific. How much publicity can the club offer a sponsor? To a company, positive publicity equals sales, which equals money. This process starts with how many members the club has and extends to the public and media interest in the activity to be sponsored. What other benefits are there?
  • Identify potential sponsors
  • Discuss whether more than one sponsor should be approached, and whether you want one sponsor or several smaller ones. If only one is selected, make them aware that they have been especially chosen and that an early indication of their interest would be appreciated
  • Identify companies whose product or image may be well associated with your club
  • Find out who to contact within an organisation. This is only a matter of a telephone call as the receptionist should know who deals with sponsorship or publicity
  • Call the relevant person and ask for an appointment to present the sponsorship proposal. Some companies will ask that you send in the proposal before the interview so they can prepare questions.
  • If you send in the proposal, keep a copy
  • Remember that to obtain sponsorship it may be necessary to show that the club is making a financial input. Very rarely will a sponsor agree to fund the whole amount of the project/event
  • Companies are not interested in sponsoring the actual administration of your club and generally will not pay wages. Rather they want to sponsor programs or events that can be used to reflect the image of the company, or help create a positive image for the company


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