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Unit 2 - The Fan
Test Review
Term | Definition |
---|---|
Amateur | An athlete which is NOT monetarily paid |
Audience | All individuals that makes a purchase |
Behavioral | |
Demographics | Segmentation based on measurable statistics |
Sport | A source of diversion or activity engaged in for pleasure |
Audience | All individuals at or exposed to an event |
Organized Sport | A sport which is overseen by a sanctioning body |
Psychographics | Segmentation based on personal interests and activities |
Consumer | An individual which uses a product or service |
Amateur | An athlete which is NOT monetarily paid |
Gate Receipt | Total money from ticket sales for an event |
Market Segment | Separating consumers into smaller groups |
Niche Market | A relatively small market with a specialized need |
Professional | An athlete which is monetarily paid for performance |
Stadium as a Place | Simultaneous production and consumption of sports events at a venue |
Customer | An individual that makes a purchase |
Marketing Concept | A business that keeps the focus of satisfying customers needs |
Breakeven Point | The minimum attendance and sales required to cover all of the expenses of organizing, promotion, and running the event |
Opportunity Cost | the value of the next best alternative that you give up when making a choice |
economic market | includes all of the consumers who will purchase a product or service |
Emotional Purchases | when consumers spend with little thought during emotional highs or lows |
Rational Purchases | when individuals recognize needs and wants amd make their purchases based upon careful thought and sound reasoning |
Patronage Purchases | based on loyalty to a particular brand or product |
Market Share | the percentage of total sales of a product or service that a company expects to capture in relation to its competitors |
Customer service gap | the difference between customer expectations and the service that is actually received |