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Marketing Principles
| Question | Answer |
|---|---|
| Marketing | The process of planning, pricing, promoting, selling, and distributing products. |
| Traditional Marketing | Combines marketing ideas, goods, and services |
| Goods | Products grown or manufactured; tangible items |
| Services | Intangible items involving a task |
| Sport Marketing | Combines marketing goods, services, and entities |
| Entities | Things like leagues, teams, and individuals |
| The Big Picture | People have wants/needs which are satisfied with products. Marketing creates the demand for these products. |
| 1st Thrust | Marketing sporting products to sport consumers. |
| 2nd Thrust | Marketing other consumer products through sport promotions. |
| 4 Historical Developments in Sports Marketing | Evolution of Sport Broadcasting, Product Extensions/Promotional Strategies, Growth of Sport Sponsorship, Birth of Research in Sport Marketing. |
| Evolution of Sport Broadcasting | Evolved from pure factual reporting aimed at sports fans to entertainment aimed at the masses. Roone Arledge, ABC Executive started it. |
| Product Extensions/Promotional Strategies | Bill Veeck said the success and profitability of a franchise can't depend on the ability of the team to attract large crowds, the team should have other reasons to attract fans other than the game. |
| Veeck's Three Philosophies | People want to be entertained, Promotions must create conversations afterward, and people want a great atmosphere. |
| Sponsorship | the aquisition 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, 1st marketer to capitalize on the term "official", official baseball of the MLB |
| Mark McCormack | Created IMG, the first sport marketng agency, started endorsement deals |
| Ambush Marketing | increasing business by capitalizing on the popularity of an event without becoming an "official" sponsor |
| Fan Identification | people have a personal commitment and emotional involvement with sport organizations |
| Consumer Research | Getting to know the costomer so you can better determine how to create demand for a product |
Created by:
mkeen26
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