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Chapter 1
Marketing Concepts
| Term | Definition |
|---|---|
| Marketing | Creation and maintenance of satisfying exchange relationships |
| Marketing Mix | Describes how a business blends the four marketing elements (product, price, distribution, promotion) |
| Product | What a business offers customers to satisfy needs |
| Distribution | Locations and methods used to make products available to customers |
| Price | The amount that customers pay for products |
| Promotion | Ways to encourage customers to purchase products and increase customer satisfaction |
| Target Market | Specific group of people you want to reach, and sell product/service |
| Discretionary Income | Income that can be freely spent |
| Demographics | Specific information, like age ranges, marital status, gender, educational level, attitudes and beliefs, and income |
| Gross Impression | The number of times per advertisement, game, or show that a product or service is associated with an athlete, team, or entertainer |
| Entertainment Marketing | Influencing how people choose to use their time and money |
| Ratings | The number of viewers the programming attracted |
| Recreation | Renewing or rejuvenating your body or mind with play or amusing activity |
| Niche Travel | Recreational travel or tours planned around a special interest |
| Collegiate Team | Have rules |
| Amateur Sport | Not paid to play, regulated on local, state, national level |
| Sports Marketing | The process or planning and executing the conception, pricing, promotion, and distribution or sports ideas, goods and services to create exchanges that satisfy individual and organization objectives |
| Sponsors | Businesses or organizations that pay to associate their names or products with a sporting event |
| Event Marketing | Designing and developing a live themed activity, occasion, display, or exhibit, such as a sports, musical festival, or concert to promote a product, cause, or organization |
| Advertising | Print, broadcast, social media |
| Media Relations | Press releases, press kits, answering consumer questions, twitter, facebook, and youtube |
| Community Relations | Public relations within the community to enhance image |
| Branding | Overall impression consumers get from a product's unique name, design, or symbol |
| Brand Image | Product's "Personality" |
| Brand Loyalty | A products loyal, long-lasting consumer following |
| Brand Awareness | How recognizable and known a brand is |
| Market Share | The portion of a market controlled by a particular company or product. |
| Entertainment | Whatever people are willing to spend their money and spare time viewing rather than participating in |
Created by:
CoachDamien
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