Chapter 7: Marketing

International Business 

Article Link(s): http://www.ibtimes.com/floyd-mayweather-vs-manny-pacquiao-2015-how-much-money-did-boxers-make-saturday-1907236
http://www.mirror.co.uk/sport/boxing/how-much-money-mayweather-earn-5629026

"MY TITLE":  MANNY PACQUIAO VS MAYWEATHER FRAUD OF THE CENTURY

 On May 2, 2015, both living boxing legends Manny Pacquiao & Floyd Mayweather FINALLY fight for the first time at the MGM Grand Garden Arena in Las Vegas. I'm writing this blog right after the fight and for those who watched it, you would know how boring the actual fight was. The hype was trending everywhere about how Mayweather or Pacquiao was going to destroy or knock out each other. They even called it the FIGHT OF THE CENTURY. The rounds went on as usual with limited action shown. They fought through 12 round with the obvious winner being Floyd Mayweather since Manny didn't knock out Floyd. After watching this fight, you take in how much people paid to watch this on Television, the cost of the ticket to watch this live and how much each fighter makes for fighting. Then this question drops in,  

"Did Mayweather and Pacquiao pull the biggest heist/robbery every known to man?"

Just letting this settle in,

Example of How Much He Made Last Fight

• Mayweather will now take home $179,808,511 (£116,554,424) as opposed to Pacquiao who earned $119,872,340 (£77,702,949) on the night.

• The purse for the fight was set at $300million (£194,502,705), which both boxers agreed be split 60/40 in the American's favour prior to the fight.

• Over the 12 rounds, Mayweather earned $4,994,681 per minute of action, with Pacquiao earning $3,329,787 per minute.

• That means that by the end of the first round, Mayweather had already amassed $14,984,043 - almost $5m more than Pacquiao's haul of $9,989,362.

Both Fighters kept there reputation because both fighters didn't K.O. or "beat up" each other showing that this fight could have gone either way. Basically saying nobody lost but if there were to be a winner, why not the American hero Mayweather.

How did this happen? Lets take a look at the history of the bout. Floyd Mayweather the undefeated, five-division world champion and Manny Pacquiao eight-division world champion are arguably the two best boxers the sport has seen in many years. Who wouldn't buy a ticket to see this? It all about how they marketed the event.

THE FOUR P's OF MARKETING
price, product, promotion, and place.

Price:
Cheapest tickets sold: $2,959-$5000
Expensive tickets sold: $40,955-$120,000
Most expensive ticket sold: $351,005
Average price paid: $6,268
      Lets be honest, nobodies crazy enough to buy those tickets EXCEPT for celebrities and other rich folks. The tickets sold were targeted to those who were rich. For those who couldn't afford tickets, it was the television that came for us. If we were to watch on television, they would charge us $100 to watch. Still a bit high in terms of price but still better than buying a ticket.

Product:
 The product obviously "sold" were the fighters. MANNY PACQUIAO vs FLOYD MAYWEATHER. Both Legends and one of the highly respected fighters in the world. Who wouldn't want to see this fight. They're rivalry has been going on for years and its what people have been waiting for.

Promotion:
Both fighters have had a rivalry going on for years and they're finally fighting. This fight was called the "FIGHT OF THE CENTURY". The Fight everybody was waiting for. This drew people in to watching the fight because it was basically said to be the best fight yet.

Place:
The place this was held at was at Las Vegas at the MGM Grand Garden arena. This was targeted for the rich people in society who are actually able to fly out there and watch the fight. Plus it pretty hot there so there no worry of being to cold there. It kind of makes sense to because people like to spend a lot at Las Vegas and it would cleary be perfect for those type of people due to the price of the ticket.

 By taking in those Marketing techniques, you can see how they "scammed" us a bit. It just wasn't worth it because we all knew if Pacquiao didn't knock out Mayweather, it was over. If you missed the fight, ill give a quick summary about what happened, and this actually happened. Floyd Maywather ran laps around the ring while Manny Pacquiao tried to hit him. That was it, Fight of the Century right? The only time Floyd came into contact with Manny was when he came to hug him instead of punching him. I can picture it right now, Manny and Floyd sitting on there private island, relaxing drinking Piña colada on the beach. Having a good laugh about there fight as we speak.

Can you think of another event where the perfect marketing skills made men richer than they were before?