Only need help and answers for PART 3 Only. 

THE CLIENT: Background information! 

 

The Charlotte Hornets continue to have a tremendous following since rebranding from the Charlotte Bobcats back to the Hornets in 2014.  As technology changes, so does customer needs and expectations.  To stay current with new trends, the Hornets consistently make a concerted effort to advance their best practices to continue maximizing revenue and fan experience.  Three examples of newly implemented technology consist of: 

•    Creation of the Hornets mobile app for fans to manage all ticketing needs from their phone
•    Implementation of on-court branding during TV broadcasts
•    Mobile ordering capabilities to allow for fans to not miss any action during the game and decrease lines at concession stands and team store

 

As a new era of technology is upon us, the Hornets need advancement on how they can continue being on the front-edge of technology while making it still a fan-friendly environment for everyone.  It is important that both the people that are wanting more from the game experience and the traditionalist basketball fan that still wishes to have the commemorative tickets year in and year out are both able to enjoy the game when attending Spectrum Center. 

QUESTIONS FROM CLIENT

1)    How can the metaverse enhance the Charlotte Hornets season ticket holder experience?
2)    Season ticket holders are only a portion of the people that come to games each night. How can the Hornets also enhance the in-game experience for our single game buyers?
3)    Can the metaverse help drive people to come to games and increase attendance at Spectrum Center?  What can be done to use the metaverse to bring people out rather than have them want to stay at home because they are able to watch from their couch?
4)    Finally, how can the Hornets incorporate the metaverse into their current strategies to drive and maximize ticket revenue for the 22-23 season and beyond?

 

 

 

PART 3 (SEGMENTATION, TARGETING, AND POSITIONING) STRATEGY (pages)

As you organize and conduct research on the current and possible consumers for your product, event, or organization, pay close attention to the most prominent environmental and individual factors that influence their behavior.
This analysis, in turn, should influence your decisions about your marketing mix - product development, pricing, promotion, and distribution decision.

Questions in this section
Can you define the core benefits of your products?
Will any of these benefits link to consumer segments defined by demographics, psychographics, or product usage?
How would you set up a segmentation plan for your sports property and match each segment to a unique or customized product or ticket-package offering?
You should begin to clarify, at the least, the product usage segments in your target consumer base. Detail your specific market segmentation plan, target, and match each segment with the most relevant product offering.

• MARKET SEGMENTATION 

Analyze the product environment and group sports consumers based on common needs and provide a profile for each of your market segments (demographics, psychographics, lifestyle, behaviors, etc.).
You must show previous research (on similar products) to support your decision.

• TARGET MARKETS

Choose the segment(s) from above that will allow the organization to most efficiently and effectively attain its marketing objectives.  
The marketing objectives are formulated prior to the market selection decisions.  Therefore, target markets represent the group of consumers around which the entire strategic marketing process is built.

• POSITIONING BRAND AND PRODUCTS
   

Identify the various brand associations your product creates. Are they positive or negative?
Are they unique? Develop strategies to reinforce and nurture the positive associations and brainstorm what must be done to manage the negative associations.
Recommend some brand extensions that could be created for your product. Why would these brand extensions be a good fit for your product?

Companies have long used perceptual mapping to understand how consumers feel about their brands relative to competitors, to find gaps in the marketplace, and to develop brand positions.

But the business value of these maps is limited because they fail to link a brand's market position to business performance metrics such as pricing and sales.
Other marketing tools measure brands on yardsticks such as market share, growth rate, and profitability but fail to take consumer perceptions into consideration.

Using the tool, marketers can determine a brand's current and desired position, predict its marketplace performance, and devise and track marketing strategy and execution.
Provide a comprehensive list of the various ways you will differentiate your organization from the competition.