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Sports&Ent Marketing
Sports & Ent 1.1~1.2
| Question | Answer |
|---|---|
| marketing | the process of developing, promoting, and distributing products or goods and services, to satisfy customers needs and wants |
| marketing concepts | idea that organizations need to satisfy their customers while also trying to reach their organizations goals |
| market | potential customers with shared needs who have the desire and ability to buy a product |
| needs | A Lack of basic necessities such as food clothing of shelter |
| wants | Things that people desire based on personality, experiences, or information about a product |
| target market | A specific group of consumers that an organization selects as the focus of its marketing plan |
| demographics | Statistics that describe a population in terms of personal characteristics |
| Marketing mix | A combination of four basic marketing strategies, know as the 4ps___ product, price, place, and promotion |
| Channel of distribution | Path a product takes form the producer to the consumer |
| Consumer | An individual that uses goods and services of a business |
| Direct-Marketing Channel | The type of channel when the manufacture sells directly to the consumer |
| Intermediary | The "middle" man within the channel of distribution |
| Price | Refers to the amount in money that something is offered for sale. It is also the second element of the marketing mix |
| Place | The means of getting the product into the hands of the customer. It is also the third element of the marketing mix |
| Naming | Part of the strategies for products. It should be catchy and easily remembered |
| Indirect-Marketing Channel | The type of channel when the manufacture sells to the consumer through other business |
| Packaging | Part of the strategies for products. It protects the product and is design to appeal to the consumer |
| Wholesalers | A type of intermediary that breaks down ‘bulk'. Buys from producers and sell small quantities to retailers |
| Retailers | A type of intermediary that has a much stronger personal relationship with the consumer. |
| Agents | A type of intermediary that is mainly used in international markets |
| Personal Selling | Involves direct face to face relationships between sellers and potential customers |
| Mass Selling | Communicates ideas or information to large numbers of customers at the same time |
| Promotion | Builds product awareness & creates interest |
| Premium Pricing | A type of pricing that sets a high price where there is a uniqueness |
| Economy Pricing | A type of pricing that is set at a no frills low price |
| Penetration Pricing | A type of pricing for products/services that is set artificially low in order to gain market share |
| Skimming Pricing | Charge a high price because you have a substantial competitive advantage |
| Internet | Sell to a geographically disperse market. Use of e-commerce technology |
Created by:
riders09
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