Segmentation, Sales, and Sponsorship in Sport Management

Flashcards covering sport organization decision-making, market segmentation and family types, sales processes, sponsorship attitudinal outcomes, power bases, and the systems model of creativity.

Priori

Conceptual thinking based on what we know that works, using previous experiences and past research to identify opportunities.

Posteriori

A data-driven method for decision-making based on primary research such as observations, surveys, and interviews to monetize consumer interactions.

Demographic Segmentation

Subsets identified by characteristics such as age and gender ratios.

Socio cultural Segmentation

Subsets identified by income, education, occupation, race, and ethnicity.

Psychographic Segmentation

Subsets identified by personality, motivations, interests, opinions, and life activities.

Behavioral Segmentation

Focuses on frequency and how often consumers purchase a product or service.

Life time sports

Adaptable sports that can be played at almost any age, such as walking, running, tennis, and golf.

Female Consumer Spending

Women control approximately $20 \text{ trillion}$ in consumer spending and make more than 70 \text{%} of all consumer-related decisions.

Involvement (Female Consumption)

Key identifier related to the socialization of attending live events, including merchandise designed for particular styles and theme game nights.

Bachelorhood

A family type characterized by single status, living separate from parents, and being socialization-driven for sporadic sport consumption.

Honeymooners

A family type where both partners work, save discretionary income for major purchases, and can be targeted through double dates or Valentine's events.

Parenthood

Described as the asset of the family categories, this stage utilizes the imprint of children to drive revenue through family packages and unique on-field experiences.

Post-parenthood

A stage where kids have left the home, providing fans with the opportunity to use discretionary income for season tickets to fill time.

Dissolution

A stage resulting from the passing of a partner, where the individual seeks companionship and a sense of belonging within a sport franchise.

Personal selling

The process of making sales and building relationships by capturing attention, making a value proposition, and encouraging action.

Prospecting

The first task in the selling process, involving identifying potential buyers, generating leads, and qualifying those leads.

Pre-calling

Gathering background information on a prospect through casual dialogue to understand their likes, dislikes, and psychological drivers.

Scarcity Principle

A closing tactic that uses high demand and limited availability to create a sense of urgency for the buyer.

Direct response marketing

The interactive use of advertising media to stimulate immediate behavior, which is tracked, recorded, analyzed, and stored.

Gate receipt

The total amount of money received for tickets at a particular game or event.

Differential pricing

Adjusting ticket prices based on the strength of the opponent, time (scheduling), and place (proximity to action).

Winning Fallacy

A component of brand equity that identifies who is most likely to have a flare for fandom regardless of team performance.

Coercive Power

A base of power involving the use of threats and punishment to achieve compliance from employees.

Connection Power

A base of power derived from relationships and information within a network that influences behaviors or attitudes.

Expert Power

A base of power held by individuals knowledgeable in a key area with a superior skillset, sometimes resulting in information hoarding.

On Target Earnings (OTE)

The total compensation an employee is expected to earn, often structured with a base salary plus performance-related bonuses.

Reciprocation

An influence principle focused on concessions to make a buyer feel they are getting more than they paid for, such as 'buy one get one' offers.

In-kind payment

A non-monetary exchange in sponsorship, such as a company providing free flights or equipment instead of cash.

Consumer staples

Essential goods used daily, such as food, clothing, tobacco, and alcohol.

Consumer discretionary

Luxury items for daily existence, such as information technology, Disney World, or fast food like McDonald's.

ABA and ABOYA

Acronyms for Attributes (perceived features) and Benefits (daily use utility) that define a sport brand image.

Market share (Naming Rights)

The percentage an organization represents within its market, where competition imprints the brand as a staple or luxury need.

Creativity as REVELATION

The spawning of a sudden idea or concept.

Creativity as INNOVATION

The birth of something unique.

Creativity as REINCARNATION

The process of improving on an existing concept.

Domain (Systems Model)

The space dictated by a culture of symbolic knowledge, rules, and procedures in which creativity occurs.

Field (Systems Model)

The gatekeepers who approve and affirm any new idea or product within a specific domain.

Design thinking

A learning process of planning and solving issues by discovering new prospects through the Operational World and Innovation World.

Operational World

A domain of structured decision-making focused on improving business metrics like net sales revenue and customer acquisition cost.

A-Z Effect

A branding framework where 'A' represents Attitude and 'Z' represents 'Zen' (happiness and fulfillment at the end of a career).