You will propose a marketing strategy for the price, placement, and promotion of your product or service, based on your analyses of the previous two sections (Section
SPT 608 Milestone Three Guidelines and Rubric
Overview: The final project for this course will give you a chance to develop a sport marketing plan for a product or service supplied by an existing sport organization. Your marketing plan will include a specific goal for the product or service, market analysis, organization analysis, marketing strategy, and evaluation plans.
Prompt: In this milestone, you will submit a draft of the Marketing Strategy section. You will propose a marketing strategy for the price, placement, and promotion of your product or service, based on your analyses of the previous two sections (Sections II and III). This is where the key details of your marketing plan will be communicated to stakeholders. Your strategy must be supported by your market research.
Specifically, the following critical elements must be addressed:
IV. Marketing Strategy: In this section of the project, you will propose a marketing strategy for the price, placement, and promotion of your product or service, based on your analyses of the previous two sections. This is where the key details of your marketing plan will be communicated to stakeholders. Remember that your strategy must be supported by your market research.
A. Product 1. Describe the key attributes of your sport product or service that make it a value for consumers. Support your position with research.
Consider the following within your description: What are the features that are both appealing to consumers and different from competitors’ products? Why should consumers purchase this product instead of the competitors’ products?
B. Price 1. Analyze the pricing standards of the industry for comparable products or services. 2. Propose a pricing structure for your product or service. Justify the pricing based on your analysis of comparable products or services.
C. Place 1. Analyze the current distribution channels for comparable products or services, including the prominence of online buying within the
industry. 2. Propose a placement and distribution structure for your product or service. Justify the structure based on your analysis of current
distribution channels within the industry. D. Promotion
1. Propose a high-level promotion and advertising strategy for your product or service, including how you plan to attract new customers and retain existing customers. Support your strategy with specific examples.
2. Explain what social media campaigns will be part of your strategy. Justify your strategy with research. 3. Explain what promotional events will be part of your strategy. Justify your strategy with research. 4. Explain what sponsorship activation will be part of your strategy and how this will be communicated to potential customers. Justify your
strategy with research. 5. Create a sample timeline of promotional events for the first three months of launching the product or service, including an explanation
of how these events will be communicated to potential customers.
Rubric Guidelines for Submission: Your paper must be submitted as a 2- to 3-page Microsoft Word document with double spacing, 12-point Times New Roman font, one-inch margins, and at least three sources cited in APA format.
Critical Elements Proficient (100%) Needs Improvement (75%) Not Evident (0%) Value
Marketing Strategy: Product: Key Attributes
Describes the key attributes of the sport product or service that make it a value for consumers with support from research
Describes the key attributes of the sport product or service that make it a value for consumers, but description is cursory or not supported with research
Does not describe the key attributes of the sport product or service that make it a value for consumers
9
Marketing Strategy: Price: Pricing Standards
Analyzes the pricing standards of the industry for comparable products or services
Analyzes the pricing standards of the industry for comparable products or services, but analysis is cursory or illogical
Does not analyze the pricing standards of the industry for comparable products or services
9
Marketing Strategy: Price: Pricing Structure
Proposes a pricing structure for the product or service based on analysis of comparable products or services
Proposes a pricing structure for the product or service, but pricing is not based on analysis of comparable products or services
Does not propose a pricing structure for the product or service
9
Marketing Strategy: Place: Distribution Channels
Analyzes the current distribution channels for comparable products or services, including the prominence of online buying within the industry
Analyzes the current distribution channels for comparable products or services, including the prominence of online buying within the industry, but analysis is cursory or illogical
Does not analyze the current distribution channels for comparable products or services
9
Marketing Strategy: Place: Placement and Distribution
Structure
Proposes a placement and distribution structure for the product or service based on analysis of current distribution channels within the industry
Proposes a placement and distribution structure for the product or service, but structure is not based on analysis of current distribution channels within the industry
Does not propose a placement and distribution structure for the product or service
9
Marketing Strategy: Promotion: Promotion and
Advertising Strategy
Proposes a high-level promotion and advertising strategy for the product or service, including plans to attract new customers and retain existing customers
Proposes a high-level promotion and advertising strategy for the product or service, including plans to attract new customers and retain existing customers,
Does not propose a high-level promotion and advertising strategy for the product or service
9
but proposal is cursory or illogical
Marketing Strategy: Promotion: Social Media
Campaigns
Explains what social media campaigns will be part of the strategy with justification from research
Explains what social media campaigns will be part of the strategy, but explanation is illogical or is not aligned with market research
Does not explain what social media campaigns will be part of the strategy
9
Marketing Strategy: Promotion: Promotional
Events
Explains what promotional events will be part of the strategy with justification from research
Explains what promotional events will be part of the strategy, but explanation is illogical or is not justified with research
Does not explain what promotional events will be part of the strategy
9
Marketing Strategy: Promotion: Sponsorship
Activation
Explains what sponsorship activation will be part of the strategy and how this will be communicated to potential customers with justification from research
Explains what sponsorship activation will be part of the strategy and how this will be communicated to potential customers, but explanation is illogical or is not justified with research
Does not explain what sponsorship activation will be part of the strategy
9
Marketing Strategy: Promotion: Timeline of
Promotional Events
Creates a sample timeline of promotional events for the first three months of launching the product or service, including an explanation of how these events will be communicated to potential customers
Creates a sample timeline of promotional events for the first three months of launching the product or service, including an explanation of how these events will be communicated to potential customers, but timeline is illogical or explanation is cursory or illogical
Does not create a sample timeline of promotional events
9
Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization
Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas
Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas
10
Total 100%
- SPT 608 Milestone Three Guidelines and Rubric
- Rubric
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Detailed Report
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Target Market Analysis and Organization Factor Analysis Draft
SPT-608-X3492 Sport Marketing and Media 23TW3
Antonio McClan
3/5/23
Target Market Analysis
Current and Future Trend of the Market
The current and future trends of the market for NBA League Pass indicate that it is an appropriate service to serve the needs of customers in the present and future. There are several factors that support this assertion. Firstly, the trend towards digital media consumption is on the rise, especially among younger generations. According to a report by Deloitte, 53% of millennials and 65% of Generation Z prefer to watch TV shows and movies on streaming services rather than traditional TV (MBA Skool Team, 2021).
Secondly, the NBA has been successful in expanding its global fan base, which presents significant growth potential for NBA League Pass. The NBA is one of the most popular sports leagues worldwide, with an estimated global fan base of 1.5 billion people. In recent years, the NBA has made significant efforts to expand its international presence, with games played in countries such as China, India, and Mexico.
Target Customers
The target customers for NBA League Pass are NBA fanatics who are primarily digital natives and are likely to be interested in accessing NBA games through digital media. This demographic is characterized by the following characteristics:
1. Age: The target audience for NBA League Pass is predominantly between 18 and 34 years old. This demographic is considered digital natives and is more likely to consume content through online media platforms.
Market Research Methods
To retrieve information about the target market and consumers, a combination of primary and secondary data sources will be used. Surveys will be conducted to gather quantitative data on the target market's preferences, behaviors, and attitudes towards NBA League Pass. Surveys will be administered online and in-person, targeting individuals within the age range of 18 to 34, who are likely to be the primary users of the service (Chen et al., 2022). The survey will include questions about the customers' current viewing habits, their willingness to pay for the service, their preferred features, and their overall satisfaction with the service. Focus groups will be used to gather qualitative data on the target market's perceptions and opinions about NBA League Pass. Focus groups will consist of individuals who meet the demographic criteria and are likely to be interested in using the service (Trautman, 2022). The focus group discussion will be centered around the service's features, pricing, and positioning in the market, among other topics.
Internal Market Factors
Internal market factors are the factors that exist within the sport organization and can have a significant impact on its performance and success. The National Basketball Association (NBA) is no exception, and several internal market factors influence the organization's operations.
Corporate culture is an internal market factor that shapes the NBA's decision-making processes and overall performance. The NBA is known for its player-centric culture, which prioritizes the players' voices and opinions (MBA Skool Team, 2021). This culture has helped the NBA attract and retain top talent, and also contributes to the league's overall popularity among fans.
The NBA's financial state is another critical internal market factor. The league generates significant revenue from various sources, including media rights, ticket sales, merchandise, and sponsorships (Trautman, 2022). The NBA's financial strength allows it to invest in its teams, players, and infrastructure, which helps the league remain competitive and attract top talent.
External Market Factors
External market factors refer to the factors that exist outside the sport organization and can significantly impact its performance and success. The National Basketball Association (NBA) is subject to several external market factors that affect its operations and growth.
One of the most significant external market factors that affect the NBA is the competition. The NBA competes with other professional sports leagues, such as the National Football League (NFL), Major League Baseball (MLB), and the National Hockey League (NHL) (Zhang, n.d). The competition for fans, viewership, and sponsorship can have a significant impact on the NBA's financial performance and overall success.
Business Data
There is ample business data that supports the decision to undertake a marketing plan to promote NBA League Pass. Below are some examples of such data:
1. Growing digital consumption: According to a report by eMarketer, digital video consumption in the US is expected to grow by over 8% in 2021. This growth trend suggests that there is a growing demand for digital content, which can benefit NBA League Pass, a streaming service.
2. Increasing popularity of the NBA: The NBA is one of the most popular sports leagues in the world, with millions of fans worldwide. According to Forbes, the NBA is worth over $8 billion, and its revenue has grown by an average of 9.5% per year over the last decade.
Industry and Organization Factor Analysis
Status of the Industry
The current status of the industry related to the NBA and NBA League Pass is strong and growing. Below are some of the needs and business opportuni
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