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Mkting principles

QuestionAnswer
Marketing the process of planning, pricing, promoting, selling and distributing products.
Traditional Marketing Products Ideas, goods, services
Sport Marketing Goods, services and entities.
The Big Picture people have wants/needs which are satisfied with products. marketing creates the demand for these products.
1st Thrust of Sports Marketing marketing sporting products (goods, services, or entities) to sport consumers
2nd Thrust of Sports Marketing Marketing other consumer products (ideas, goods, or services) through sport promotions
4 Developments in Sports Marketing evolution of sport broadcasting, product extensions/ promotional strategies, growth of sport sponsorship and birth of research in sport marketing.
Roone Arledge ABC executive, recognized sports televised in prime time had to be more than sport but also entertainment!
Bill Veeck recognized the success and profitability of a franchise cant depend on the succes of the team to generate capacity crowds.
Veecks 1st Philosophy people wanted to be entertained.
Veecks 2nd Philosophy Promotions must create conversation afterwards.
Veecks 3rd Philosophy people want a great atmosphere.
Sponsorship the acquisition of rights to affiliate or directly associate with a product or event for the purpose of deriving benefits related to that affiliation.
Albert Spalding Early pioneer in sport sponsorship. First marketer to capitialize on the term "official".
Mark McCormack Started Endorsement Deals. Created IMG, the first sport marketing agency.
Fan Identification people identify with sports; they have a personal commitment and emotional involvement with sport organizations.
Cluttered marketplace increasingly difficult for sponsors to be recognized and achieve the benefits of sponsorship.
Market Research research involves getting to know the customer so you can better determine how to create demand for the product.
Audience Audit fill out a questionnaire and get a free beach towel! fill out a Visa application and get a free cap!
Focus Group discussion groups with 8 to 12 people with similar characteristics discussing a predetermind sport topic
Pass-By Interviews Interviews in heavy traffic areas such as malls; use a visual aid and assess the interviewee's reaction to it (typically a sample of a potential new product)
Marketing Mix the controllable variables a company puts together to satisfy a target group
the 4 p's of marketing product, price, place, promotion
Product choosing what to sell
Price what is exchanged for the product
Place getting it into the costumers hands
Promotion how the customer will be told about the product
Mass Marketing when an organization markets its products to every possible consumer in the marketplace
Segmentation Proccess if identifying subgroups of the overall marketplace base on a variety of factors
Target market A subgroup of the overall marketplace that has certain desirable traits
Demographic Statistics such as age, income, ethinicity, gener, or educational background
Geographic Statistics such as region or zip codes
Psychographic Statistics such as preferences or behaviors..values, beliefs, lifestyle, activities, habits.
Ethnic Marketing and General Marketing Popular bases for segmentation in sports
Personal Selling direct contact, face to face presentation; seller persuades buyer
Advertising one way communication; pay to promote products
Publicity media exposure thats free; disadvantave: one has no control over what is written
Sales Promotion special activities to increase sales; includes a customer incentive or gimmick
Created by: muthard15
Popular Sports sets

 

 



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