Did you know that the 73-year-old tournament or now known as March Madness, which continues into April 2017 has been on CBS for decades? It will continue. But it costs money. Many dollars.
Last spring CBS and Time Warner’s Turner (TBS) secured rights to jointly present, like they did in 2016, the Division I Men’s Basketball Championship (March Madness) for another eight (8)years or through 2032.
They paid $8.8 billion for the rights to cover the tournament across new-media platforms, which includes any new ones which may be developed.
The Final Four national semifinals and the national championship will alternate between CBS and Turner each year. This year it will be CBS, with Turner’s TBS will televise them in '18.
In '10 they paid $10.8 billion for 14 years.
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I am a senior Forensic Marketing Expert, Advertising/Marketing consultant with Londre Marketing Consultants, LLC plus I teach Marketing and Advertising.
I own a copyright for this concept, the Nine P’s/9 P's of Marketing ©2007, which augments the Marketing Mix (Product, Price, Promotion and Place) or the 4P’s by the American Marketing Association, Neil Borden and Jerome McCarthy in the study and practices of Marketing.
The Nine P's/9P's of Marketing help identify marketing problems and opportunities in a number of areas and help develop marketing’s objectives, strategies, tactics and solutions. The Nine P's can be insightful.
In Marketing. the "Customer," or potential customers are king, but are missing in the 4P's.
I consult and teach using the Marketing concepts and practices of the Nine P's/9P's of Marketing.
In the study and practice of Marketing, Marketing and Brand Managers develop plans, strategies and tactics.
The Nine P's of Marketing include these important components or elements:
- It's about Segmentation and Targeting.
- "People" or targeting has almost always been left out of the traditional "Marketing Mix." Almost every diagram includes the four P's with "Consumer" or "People" or "Potential Buyers" in the middle of the circle. There needs to be more focus on the "Customer," or "People."
- "People," market segments utilizing demographics, geographics, psychographics, behavioral characteristics and technographics are a vital component of the 9P's of Marketing. Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
- Product and Services
- Place (Distribution)
- Eight (8) major, strategic components: The communication elements include personal and non-personal communication activities. Activities that communicate the merits of the overall product, which include:
- Personal Selling/ Sales Force
- Sales Promotion
- Collateral Materials
- Direct Marketing (also referred to as Action or Direct Response Advertising
- Interactive/Internet/Web, Digital Media, Social Media
- Events and Experiences-
- Public Relations
- Strategic questions under Promotion::
- What should you promote?
- To whom should you promote?
- What economic and discount levels should you offer?
- What form of promotion should you offer? Features?
- How frequent?
- It is important to partner with firms that have similar corporate philosophies, who have agreed upon objectives and strategies.
- The “P” or “Presentation” is the act of presenting any of the different 9P’s© and/or components to your customers, suppliers, wholesalers, retailers, sales force, marketing intermediaries, clients, employees, partners, and/or others.
- Look at “real” product and service experiences. I place “events and experiences” also under Promotion. While traditional marketing is based on target audience impressions/ views/ clicks/ exposure, experimental marketing involves engaging with consumers. Enabling consumers and “allowing” them to feel the brand.
- Those intense, driving or overmastering feelings, emotions in the planning, developing, pricing, promoting, partnering, selling and overall marketing of products or services.
Or for more fun, marketing strategies/tactics and facts: Go to Marketing Trivia with 37+ stimulating questions and answers at Londre MarketingConsultants, LLC. Here to help. All the best.