Question | Answer |
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 |