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Sport Marketing Plan: Panthers
Sara Allen, Dija Cobb, Jack Grzybek, Nick Joyner, Amber Neely, Devin Rose MASM 557 - Sport Marketing Professor Dawson December 4, 2017
Executive Summary ● ● ● ● ●
Located in the heart of a growing metropolitan area Uniquely positioned in uptown to take advantage of a Charlotte metro area that has just two major professional franchises The Panthers are the most visible sports team in the state By targeting fans in the 18-29 age demographic, as well as attracting more and more females to Panther games, our marketing objectives will expand our reach Our goal is to be a nationally recognized brand, as well as cultivate a younger and wider fan base.
Introduction ● ● ● ●
The Panther logo that sits atop the entrance of Bank of America Stadium distinctly stands out, even from miles away Fans can be proud of the fact that the Panthers have committed to Charlotte and Bank of America Stadium by improving the venue with a five-year, $180 million dollar renovation Pro football is overwhelmingly (33%) the favorite product of adults who follow multiple sports (Harris Poll, 2016.) The Atlanta Falcons are over four hours away from Charlotte and the second closest team, the Washington Redskins, are over five hours away. Our product has great demand and very little nearby competition
Introduction (continued)
●
Marketable faces such as linebackers Luke Kuechly and Thomas Davis represent a blue-collar attitude that give the Panther franchise an identity Luke Kuechly has become synonymous with I Security as the home security company’s official face Linebackers Thomas Davis and Shaq Thompson have become spokesmen for Ram Trucks, often d on Charlotte sports-talk radio Cam Newton is an Under Armour athlete
●
The Carolina Panther brand and it’s players are in front of consumers through a variety of mediums on a daily basis
● ● ●
Mission Statement “ The mission of the Carolina Panthers is to be a leading competitive franchise among National Football League competitors superseding expectations both during and outside of competition. The Carolina Panthers strive to provide an inclusive, inviting, and entertaining fan experience by extending the best possible service, products, and values to our fans while also serving our surrounding communities upholding our commitment to being “Two States. One Team.”.”
Business Objectives 1.
To increase year over year revenue and max out attendance.
2.
To retain and expand the core fan base.
3.
To revitalize the in-game fan experience.
4.
To cultivate community relations.
Situational Analysis ● Economic Climate ○ ○ ○ ○ ○
Located in Charlotte, NC. Ranked #7 on Forbes list for best places for business & careers. Ranked #51 in cost of doing business. Ranked #21 in Job growth Ranked #60 in education ■ Metro Population= 2,479,600 ■ Median Household= $68,034 ■ Median Home Price= $219,000 ■ Unemployment Rate= 4.3%
● Financial Status of The Panthers ○
Carolina Panthers are Ranked #21 on Forbes 2017 list of Most Valuable teams. ■ Valued for $2,300 Million ■ Revenue= $385 million ■ Player Expenses= 168 million ■ Operating Income= $102 million
● Demand Trends ○ Fan Attendance, Ticket sales ■
Fan experience
● Competitors ○ Other NFL teams ○ Nearby Professional teams ■
Charlotte Hornets, Charlotte Checkers
Consumer Information ● Fan Demographics ○ ○ ○ ○ ○
Age (Marzilli, 2016) Gender (Marzilli, 2016) Location (Sharf, 2017) Education Household Type
● 10th Best Fan Base ● Social Fan Base (Igoe, 2016) ● Brand Preferences ○ ○
Fast Food Beer
SWOT Analysis ● Strengths ○
Existing distribution and sales networks, high growth rate, skilled workforce, domestic market, experienced business units, location, increasing revenue
● Weaknesses ○
Investments in research and development, high loan rates, Cam Newton’s mouth
● Opportunities ○
Growing economy, venture capital, new products and services, new acquisitions, new markets
● Threats ○
Increase in labor costs, technological problems, location (i.e. other sports teams in the area)
Marketing Strategies ● Target Market ○ ○
Gender demographics of Carolina Panther fans in 2016: ■ Male- 49%, Female- 51% Age demographics: ■ (18-29): 23%, (30-44): 29%, (45-64): 34%, (65+): 14%
● Product ○
A general Panthers game
● Pricing Strategies ○ ○
An average price to attend a Carolina Panthers game ranges from $64.43 to $228.44. Dynamic Pricing ■ Panthers vs Cowboys example, Panthers vs Dolphins example
Marketing Strategies (Continued) ● Location for Games ○ ○
Bank of America Stadium Tickets sold through ticketing office, website, and third-party online ticket sales
● Promotion of Games ○ ○ ○ ○
Bank of America Stadium (big Panthers logo as you drive into city) Social media Billboards (season tickets), ads on local radio & television stations Use of autograph gs, school nights, youth football nights
● Corporate Sponsorships ○ ○
WIIFM - promote team value, revenue, annual economic impact, average game attendance Organization that align with goal: growing the market share with an energetic, youthful age range
Methods of Evaluation ● Sales and Attendance data ● Renewal rates ○ ○
Season tickets Sponsorship
● Exposure ○ ○
Brand awareness Social media ■ 2 posts per day ■ 60/40 mix (Collums, personal communication, 2017)
Methods (continued) ● Open rates ○ ○
Email- 1 per week Click-throughs on web pages (Collums, 2017)
● Surveys ○ ○
Multi-purpose Cost effective
● Customer Relationship Management ○ ○
Ticketmaster Archtics Personalization of marketing materials (Collums, 2017)
Implementation Timeline Jan- Mar 2018
Apr-Nov 2018
Fan Surveys
Player Takeovers
Interview fans and ask them to vote on their favorite players, could also use jersey sale information
Snapchat/Instagram takeovers from elected favorites.
Nov 2018Jan 2019
Nov 2018Jan 2019
Hosting High School State Championships
Pop Warner Super Bowl
Deck the kids out with Panthers gear and have players show up to watch, etc.
Similar to the Little League World Series, but with football.
Works Cited (A-D) A demographic profile of league and team fans. (2002, April 15). Retrieved November 14, 2017, from sportbusinessdaily.com: http://www.sportsbusinessdaily.com/Journal/Issues/2002/04/20020415/Special-Report/Ademographic-Profile-Of-League-And-Team-Fans.aspx?hl=Wendys%20International%20Inc&sc=0 Association of National rs. (2013, November 13). Research Report: 2013 ANA sponsorship and event marketing measurement survey, 2nd edition. Retrieved from: www.ana.net/miccontent/show/id/rr-2013-sponsorship-and-event-mkting-measurement-survey Advisorgate. (2016). Carolina Panthers - SWOT analysis. Strength, Weaknesses, Opportunities, Threats for over 40,000+ companies and industries. Retrieved from Advisorgate.com: http://swot.advisorgate.com/swot-c/7522-swot-analysis-carolina-panthers.html\
Carolina Panthers average attendance 2008-2016 | Statistic. (n.d.). Retrieved November 14, 2017, from Statista: https://www.statista.com/statistics/249641/average-home-attendance-of-the-carolinapanthers/ Carolina Panthers Have NFL's Fastest-Growing Social Fanbase. (2015, December 16). Retrieved November 14, 2017, from Adweek: http://www.adweek.com/digital/carolina-panthers-have-nflsfastest-growing-social-fanbase/
Carolina Panthers revenue 2001-2016 | Statistic. (n.d.). Retrieved November 14, 2017, from Statista: https://www.statista.com/statistics/195242/revenue-of-the-carolina-panthers-since-2006/ Carolina Panthers Single Game Tickets. Retrieved from: http://www.panthers.com/tickets/single-game.html Community. (n.d.). Retrieved November 27, 2017, from http://www.panthers.com/community/play-60.html
Works Cited DeVault, G. (n.d.). What You Are Missing If You Don't Have Marketing Information System. Retrieved November 27, 2017, from https://www.thebalance.com/what-is-a-marketing-informationsystem-mis-2296892 Forbes. (2017). Sports Money: 2017 NFL Valuations. Retrieved from: https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/teams/carolin
a-panthers/URL=https://www.google.com/&referrer=https://www.google.com/ Forbes. (2017). The Best Places For Business and Careers. Retrieved from: https://www.forbes.com/places/nc/charlotte/
Harris Poll, The (2016). Pro Football is Still America’s Favorite Sport. Retrieved from: http://www.theharrispoll.com/sports/Americas_Fav_Sport_2016.html Igoe, S. (2016, July 13). Panthers' fan base ranked 10th in NFL. Retrieved November 14, 2017, from CBSSports.com: https://www.cbssports.com/nfl/news/panthers-fan-base-ranked-10th-in-nfl/ Marzilli, T. (2016, March 02). Marketing Profiles Of Denver Broncos & Carolina Panthers Fans. Retrieved November 14, 2017, from YouGovBrandIndex: http://www.brandindex.com/article/marketing-profiles-denver-broncos-carolina-panthers-fans Mullin, Bernard J., Hardy, Stephen, & Sutton, William A. (2007). Sport Marketing (3rd ed.). Champaign: Human Kinetics.
Works Cited Rishe, P. (2012). Dynamic Pricing: The Future of Ticket Pricing in Sports. Retrieved from: https://www.forbes.com/sites/prishe/2012/01/06/dynamic-pricing-the-future-of-ticket-pri Sharf, S. (2017, February 10). Charlotte-Concord-Gastonia, NC-SC - pg.20. Retrieved November 27, 2017, from https://www.forbes.com/pictures/ffgh45femlk/19-charlotte-concord-ga/#4153a5703d98
Stadium. (n.d.). Retrieved November 27, 2017, from http://www.panthers.com/stadium/facts.html
Statista. (2017). The Carolina Panthers. Retrieved from Statista The Statistics Portal: https://www.statista.com/search/?q=Carolina+Panthers Strickland, B. (2016). Panthers Named Economic Growth Champion. Retrieved from: http://www.panthers.com/news/article-2/Panthers-named-Economic-Growth-Champion/8 202cfd4-3de8-458b-9718-9d88201ab2a3 Thomas, S. (2015). Reach a Younger Audience, Marketing to Millennials. Retrieved from: http://blog.wsi-emarketing.com/reach-younger-audience-marketing-millennials/ Ticketmaster. (No date). Retrieved from:www.ticketmasterevents.com/ticketmaster-products/.
Sara Allen, Dija Cobb, Jack Grzybek, Nick Joyner, Amber Neely, Devin Rose MASM 557 - Sport Marketing Professor Dawson December 4, 2017
Executive Summary ● ● ● ● ●
Located in the heart of a growing metropolitan area Uniquely positioned in uptown to take advantage of a Charlotte metro area that has just two major professional franchises The Panthers are the most visible sports team in the state By targeting fans in the 18-29 age demographic, as well as attracting more and more females to Panther games, our marketing objectives will expand our reach Our goal is to be a nationally recognized brand, as well as cultivate a younger and wider fan base.
Introduction ● ● ● ●
The Panther logo that sits atop the entrance of Bank of America Stadium distinctly stands out, even from miles away Fans can be proud of the fact that the Panthers have committed to Charlotte and Bank of America Stadium by improving the venue with a five-year, $180 million dollar renovation Pro football is overwhelmingly (33%) the favorite product of adults who follow multiple sports (Harris Poll, 2016.) The Atlanta Falcons are over four hours away from Charlotte and the second closest team, the Washington Redskins, are over five hours away. Our product has great demand and very little nearby competition
Introduction (continued)
●
Marketable faces such as linebackers Luke Kuechly and Thomas Davis represent a blue-collar attitude that give the Panther franchise an identity Luke Kuechly has become synonymous with I Security as the home security company’s official face Linebackers Thomas Davis and Shaq Thompson have become spokesmen for Ram Trucks, often d on Charlotte sports-talk radio Cam Newton is an Under Armour athlete
●
The Carolina Panther brand and it’s players are in front of consumers through a variety of mediums on a daily basis
● ● ●
Mission Statement “ The mission of the Carolina Panthers is to be a leading competitive franchise among National Football League competitors superseding expectations both during and outside of competition. The Carolina Panthers strive to provide an inclusive, inviting, and entertaining fan experience by extending the best possible service, products, and values to our fans while also serving our surrounding communities upholding our commitment to being “Two States. One Team.”.”
Business Objectives 1.
To increase year over year revenue and max out attendance.
2.
To retain and expand the core fan base.
3.
To revitalize the in-game fan experience.
4.
To cultivate community relations.
Situational Analysis ● Economic Climate ○ ○ ○ ○ ○
Located in Charlotte, NC. Ranked #7 on Forbes list for best places for business & careers. Ranked #51 in cost of doing business. Ranked #21 in Job growth Ranked #60 in education ■ Metro Population= 2,479,600 ■ Median Household= $68,034 ■ Median Home Price= $219,000 ■ Unemployment Rate= 4.3%
● Financial Status of The Panthers ○
Carolina Panthers are Ranked #21 on Forbes 2017 list of Most Valuable teams. ■ Valued for $2,300 Million ■ Revenue= $385 million ■ Player Expenses= 168 million ■ Operating Income= $102 million
● Demand Trends ○ Fan Attendance, Ticket sales ■
Fan experience
● Competitors ○ Other NFL teams ○ Nearby Professional teams ■
Charlotte Hornets, Charlotte Checkers
Consumer Information ● Fan Demographics ○ ○ ○ ○ ○
Age (Marzilli, 2016) Gender (Marzilli, 2016) Location (Sharf, 2017) Education Household Type
● 10th Best Fan Base ● Social Fan Base (Igoe, 2016) ● Brand Preferences ○ ○
Fast Food Beer
SWOT Analysis ● Strengths ○
Existing distribution and sales networks, high growth rate, skilled workforce, domestic market, experienced business units, location, increasing revenue
● Weaknesses ○
Investments in research and development, high loan rates, Cam Newton’s mouth
● Opportunities ○
Growing economy, venture capital, new products and services, new acquisitions, new markets
● Threats ○
Increase in labor costs, technological problems, location (i.e. other sports teams in the area)
Marketing Strategies ● Target Market ○ ○
Gender demographics of Carolina Panther fans in 2016: ■ Male- 49%, Female- 51% Age demographics: ■ (18-29): 23%, (30-44): 29%, (45-64): 34%, (65+): 14%
● Product ○
A general Panthers game
● Pricing Strategies ○ ○
An average price to attend a Carolina Panthers game ranges from $64.43 to $228.44. Dynamic Pricing ■ Panthers vs Cowboys example, Panthers vs Dolphins example
Marketing Strategies (Continued) ● Location for Games ○ ○
Bank of America Stadium Tickets sold through ticketing office, website, and third-party online ticket sales
● Promotion of Games ○ ○ ○ ○
Bank of America Stadium (big Panthers logo as you drive into city) Social media Billboards (season tickets), ads on local radio & television stations Use of autograph gs, school nights, youth football nights
● Corporate Sponsorships ○ ○
WIIFM - promote team value, revenue, annual economic impact, average game attendance Organization that align with goal: growing the market share with an energetic, youthful age range
Methods of Evaluation ● Sales and Attendance data ● Renewal rates ○ ○
Season tickets Sponsorship
● Exposure ○ ○
Brand awareness Social media ■ 2 posts per day ■ 60/40 mix (Collums, personal communication, 2017)
Methods (continued) ● Open rates ○ ○
Email- 1 per week Click-throughs on web pages (Collums, 2017)
● Surveys ○ ○
Multi-purpose Cost effective
● Customer Relationship Management ○ ○
Ticketmaster Archtics Personalization of marketing materials (Collums, 2017)
Implementation Timeline Jan- Mar 2018
Apr-Nov 2018
Fan Surveys
Player Takeovers
Interview fans and ask them to vote on their favorite players, could also use jersey sale information
Snapchat/Instagram takeovers from elected favorites.
Nov 2018Jan 2019
Nov 2018Jan 2019
Hosting High School State Championships
Pop Warner Super Bowl
Deck the kids out with Panthers gear and have players show up to watch, etc.
Similar to the Little League World Series, but with football.
Works Cited (A-D) A demographic profile of league and team fans. (2002, April 15). Retrieved November 14, 2017, from sportbusinessdaily.com: http://www.sportsbusinessdaily.com/Journal/Issues/2002/04/20020415/Special-Report/Ademographic-Profile-Of-League-And-Team-Fans.aspx?hl=Wendys%20International%20Inc&sc=0 Association of National rs. (2013, November 13). Research Report: 2013 ANA sponsorship and event marketing measurement survey, 2nd edition. Retrieved from: www.ana.net/miccontent/show/id/rr-2013-sponsorship-and-event-mkting-measurement-survey Advisorgate. (2016). Carolina Panthers - SWOT analysis. Strength, Weaknesses, Opportunities, Threats for over 40,000+ companies and industries. Retrieved from Advisorgate.com: http://swot.advisorgate.com/swot-c/7522-swot-analysis-carolina-panthers.html\
Carolina Panthers average attendance 2008-2016 | Statistic. (n.d.). Retrieved November 14, 2017, from Statista: https://www.statista.com/statistics/249641/average-home-attendance-of-the-carolinapanthers/ Carolina Panthers Have NFL's Fastest-Growing Social Fanbase. (2015, December 16). Retrieved November 14, 2017, from Adweek: http://www.adweek.com/digital/carolina-panthers-have-nflsfastest-growing-social-fanbase/
Carolina Panthers revenue 2001-2016 | Statistic. (n.d.). Retrieved November 14, 2017, from Statista: https://www.statista.com/statistics/195242/revenue-of-the-carolina-panthers-since-2006/ Carolina Panthers Single Game Tickets. Retrieved from: http://www.panthers.com/tickets/single-game.html Community. (n.d.). Retrieved November 27, 2017, from http://www.panthers.com/community/play-60.html
Works Cited DeVault, G. (n.d.). What You Are Missing If You Don't Have Marketing Information System. Retrieved November 27, 2017, from https://www.thebalance.com/what-is-a-marketing-informationsystem-mis-2296892 Forbes. (2017). Sports Money: 2017 NFL Valuations. Retrieved from: https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/teams/carolin
a-panthers/URL=https://www.google.com/&referrer=https://www.google.com/ Forbes. (2017). The Best Places For Business and Careers. Retrieved from: https://www.forbes.com/places/nc/charlotte/
Harris Poll, The (2016). Pro Football is Still America’s Favorite Sport. Retrieved from: http://www.theharrispoll.com/sports/Americas_Fav_Sport_2016.html Igoe, S. (2016, July 13). Panthers' fan base ranked 10th in NFL. Retrieved November 14, 2017, from CBSSports.com: https://www.cbssports.com/nfl/news/panthers-fan-base-ranked-10th-in-nfl/ Marzilli, T. (2016, March 02). Marketing Profiles Of Denver Broncos & Carolina Panthers Fans. Retrieved November 14, 2017, from YouGovBrandIndex: http://www.brandindex.com/article/marketing-profiles-denver-broncos-carolina-panthers-fans Mullin, Bernard J., Hardy, Stephen, & Sutton, William A. (2007). Sport Marketing (3rd ed.). Champaign: Human Kinetics.
Works Cited Rishe, P. (2012). Dynamic Pricing: The Future of Ticket Pricing in Sports. Retrieved from: https://www.forbes.com/sites/prishe/2012/01/06/dynamic-pricing-the-future-of-ticket-pri Sharf, S. (2017, February 10). Charlotte-Concord-Gastonia, NC-SC - pg.20. Retrieved November 27, 2017, from https://www.forbes.com/pictures/ffgh45femlk/19-charlotte-concord-ga/#4153a5703d98
Stadium. (n.d.). Retrieved November 27, 2017, from http://www.panthers.com/stadium/facts.html
Statista. (2017). The Carolina Panthers. Retrieved from Statista The Statistics Portal: https://www.statista.com/search/?q=Carolina+Panthers Strickland, B. (2016). Panthers Named Economic Growth Champion. Retrieved from: http://www.panthers.com/news/article-2/Panthers-named-Economic-Growth-Champion/8 202cfd4-3de8-458b-9718-9d88201ab2a3 Thomas, S. (2015). Reach a Younger Audience, Marketing to Millennials. Retrieved from: http://blog.wsi-emarketing.com/reach-younger-audience-marketing-millennials/ Ticketmaster. (No date). Retrieved from:www.ticketmasterevents.com/ticketmaster-products/.
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