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ent mgt exam 3
| Question | Answer |
|---|---|
| global sports revenue estimate | $403 billion |
| nfl revenue estimate | 23 billion |
| cricket revenue estimate | few billion |
| what did paintings in egyptian tombs from 1800 bc show? | wrestling, stick fighting, and stone tossing as types of recreational activities |
| what sports were part of asian culture? | wrestling, martial arts, archery |
| who developed chariot races? | romans |
| who developed olympics? | greeks |
| where and when did first olympics take place? | in olympia in 776 bc |
| what did sports in europe largely consist of? | archery matches & jousting tournaments |
| what team sports took place by the late 18th and early 20th centuries? | cricket, rugby, soccer |
| us sports in mid 1800s | saw the development of the game of baseball, followed by basketball, American football, and ice hockey |
| baseball history | began with the formation of the eight-team National League in 1867. In 1869, the Cincinnati Red Stockings became the first to hire professional players. This was followed by est. Western League, which became American league. 1903 first world series |
| american football history | grew out of the English game rugby on ivy league campuses and refined by Walter Camp of Yale University. Inter-collegiate football Association in 1896. Thanksgiving day championship game between Yale and Princeton. 1920 NFL was established with 10 teams |
| which us sport is the biggest money maker? | football |
| basketball history | teacher James Naismith invented basketball in 1891 for his students at the YMCA in MA. By mid 1940s, game turned professional with formation of Basketball Association of America, combined with National Basketball League in 1949 to form NBA |
| ice hockey history | Official debut in Montreal in 1875. When Lord Preston of Stanley donated a cup to be awarded to the best Canadian hockey club, the Stanley Cup became the top prize covered by teams across Canada. The National Hockey League was established in 1924 |
| true/false: Minor league sports teams are generally affiliated with major league teams | true |
| purpose of independent leagues | not affiliated with major professional teams but may serve the same purpose of helping to prepare aspiring professional athletes for careers with the major leagues |
| when was NCAA created? | 1910 |
| name, image, likeness (NIL) | In July 2021 college athletes could officially monetize their name, image, & likeness through the NCAA. Student-athletes have used their social media to endorse brand/company, sign autographs, host camps, & appeared in commercials for product/company |
| Title IX of the Education Amendment Act of 1972 | mandated that “any federally funded schools, providing resources for males had to provide equal resources for women". was highly controversial |
| what did Title IX of the Education Amendment Act of 1972 open doors for? | The expansion of women’s sports programs and teams of the collegiate level as well as in primary and secondary schools |
| how much did advertisers spend on women's sports in 2024? | $244 million, year over year increase of 139% |
| in the past 5 years, how big of increase was there in women media coverage? | 275% |
| top draws for women's sports | basketball, volleyball, tennis |
| most watched finals game in 25 years | 2024 game 5 of WNBA finals. |
| valuable area for advertisers | women's sports |
| fubo streaming service hub | women's sports zone |
| what did whoopi goldberg found? | All Women's Sports Network (AWSN), the first-ever global sports network exclusively dedicated to female sports |
| world's first sports bar showing only women sports | the sports bra in portland, OR |
| int sports | The Olympics, Football (FIFA), Cricket, Tennis |
| sports marketing challenges & trends | ads & promo sports billions of dollars each year. very common to see venues bearing name of corp sponsor. they pay hefty fees to have their names displayed. Corp sponsorship is quite common at collegiate level. Teams use social media to engage with fans |
| sports other challenges & trends | making greater use of big data to inform strategic decisions & enhance experience across all sporting events. Stadiums will also become smarter as teams offer amenities designed to enhance experience. Huge networks utilize mobile phones. Cord cutting |
| growing recreational sport | pickleball |
| sports job opportunities | Management and administration include general managers, accounting and financial personnel, operations, directors, equipment, managers, aestheticians, etc. Sports agents and sports media professionals are other job opportunities in the industry |
| more sports job opportunities | Independent agency specialize in developing ad campaigns for sports teams & orgs. They promote products like equipment & athletic wear. Teams & leagues hire PRs & marketing ppl to work with media, & special event coordinators who may be called |
| total travel spending | $1.3 trillion |
| tourism economic output | Projected to be $2.9 trillion, representing 2.5% of the national GDP |
| tourism jobs stats | Supported 15 million American jobs, with 8 million directly employed |
| int visitor spending stats | A record $22.3 billion was spent by international visitors in December 2024 |
| YTD int spending | Over $126 billion was spent in the first half of 2024 |
| domestic travel stats | Americans took a record 720 million domestic trips in 2024 |
| SWOT analysis | strengths, weaknesses, opportunities, threats |
| spf travel & lodging tax | Spf voters will decide on a 3% hotel/motel tax increase to help fund a proposed $175 million convention center. current 5% lodging license tax is split between uses that include promoting tourism, hosting sporting events and supporting arts tourism. |
| spf travel & lodging tax pt 2 | City officials believe the convention center will stimulate economic growth, create jobs, and attract tourism, though some projections have been questioned |
| tourism challenges & trends | Effects of an unstable economy. Exchange rate with other countries. Airline costs and safety regulations. Impact of terrorism on travel. Technology in the industry like online bookings. Sharing economy: lodging, cars, and amenities |
| specialty travel topics | escorted tour (appealing to boomers) & all-inclusive vacation resort package have grown in popularity. Ecotourism. Some tour operators find it advantageous to develop package tours for specific groups such as women travelers or gay and lesbian travelers |
| CVB purpose | acts as a non-profit to market destination & assist visitors & meeting planners. includes promoting destinations, helping event planners find venues, & creating attractions & events to enhance experience. aim to boost local economy thru tourism & events |
| for hundreds of years, where was merch primarily sold? | in marketplaces |
| what did peddlers do? | travel from location to location, setting up their wears in the city center at the village marketplace. they opened market stalls that became permanent. These ultimately evolved into stores and business districts, like the Grand Bazaar of Istanbul |
| 1st modern day retail store | The Great Atlantic and Pacific Tea Company based in New York City in 1959 |
| paris early dpt store | bon marche |
| the bon | American dpt store in Seattle |
| true/false: retail stores reflect changes in women's independence | true |
| when did malls come into existence? | the 1800s |
| first shopping mall in US | Lakeview Store at Morgan Park. it opened in Duluth, Minnesota in 1915 |
| when did american malls flourish? | in American suburbs in the 1950s and 1960s as people moved out of the cities and bought cars to get around |
| what do power towns include? | anchor stores, small specialty stores, dozens of entertainment options, a Multiplex movie theater complex, and lots of restaurants and a visually pleasing atmosphere |
| what are lifestyle centers? | often rebuilt malls with open air entertainment |
| idea behind a lifestyle center | if it offered more than just shopping experience, the visitor might stay longer and more often |
| lifestyle centers new trend | build residential units along with the retail and entertainment venues |
| showcase stores | features products made by a single company. housed in a large space and a prominent, well traffic location. |
| what does plunkett research say about showcase stores? | showcase stores began as anomalies, too opulent to be considered profitable, but guaranteed to be tremendous PR vehicles bc of uniqueness, massive scale, & very high traffic locations. despite high rent & bi investments, many have proved immensely popular |
| pop up stores | Used to introduced customers to new products and familiar venues. Great way for a brand to market test. appeal to retailers because they involve short term leases |
| shopping challenges & trends | Fluctuating American economy. Increased traffic to discount chains and warehouse stores. Black Friday and cyber Monday. Shopping on Vacation |
| add on | An additional product suggested to a customer to complement their original purchase |
| anchor store | A big retail store, often a department store or a supermarket, that drives foot traffic to the mall, due to its brand recognition and large customer base |
| BODFS | Buy Online, Deliver from Store. A fulfillment model, in which online orders are fulfilled from a brick & mortar retail store, rather than from a warehouse or distribution center |
| BOPIS | Buy Online, Pickup in Store. A retail fulfillment model for online orders through store locations that the customer chooses |
| cashwrap | The area at the retail store where customers pay for their purchases and checkout. This is where the cash counter and Point-of-Sale (POS) are placed |
| conversion | The share of total store visitors who convert into customers by making a purchase |
| destination store | A retail store that provides a unique product collection and experience, that customers are willing to go out of their way and drive specially to its location, even if it’s out of the city center |
| floorset | An activity performed at retail stores, where the visual presentation of products and marketing materials is changed, to reflect the coming selling period |
| keystone pricing | A cost-based pricing strategy, where the merchant doubles the cost price of the product, and sets this as the retail price |
| loss prevention | A function in retail businesses that is responsible for protecting the assets of the business and preventing or minimizing loss |
| MSRP | Manufacturer’s Suggested Retail Price. It is a price that the product manufacturer recommends the retailers sell at in their stores to the end consumer |
| planogram | A visual merchandising tool used to plan which products will be displayed in which area & fixture at the retail store |
| Point of sale (POS) | It is a system that is installed at retail stores, to enable them to record and process transaction |
| showrooming | The practice of examining a product at a brick & mortar retail store, and then buying it online |
| stock keeping unit (SKU) | A unique identifier that is assigned to products at a business, to help in tracking their sales and inventory levels |
| turnover rent | A type of rental agreement where the rent amount is linked to the sales of the store location |
| white label product | A product that is created by a manufacturer and sold by other sellers under their own branding |
Created by:
rachelrobinson