S&E Marketing Unit 1 Test

marketing

planning, pricing, promoting, distributing and selling of goods & services to satisfy consumers’ needs and wants

business to business (b2b)

personal selling n relationships. higher priced.

b2b examples

eg. software-construction company, computers-school board

business to consumer (b2c)

focus on consumer goods, invest in generating demand/popularity

b2c examples

superbowl ads, mcd’s $1 drink

marketing mix (4 ps)

product, price, place, promotion

point of 4 p’s

helps meet business objectives

product

item or service business sells/offers to meet the needs of customers. good product - quality, design, features, benefits

product - answer to questions

what p/g should we sell? how should it be branded?

price

the amount of money customers will pay for your p/s. consider competitors, willingness, cost of creation, sensitivity to changes in price

price - answer to questions

how much should we charge? what is our pricing strategy?

place

refers to where your product or service will be sold

place - answer to question

where will we sell our product or service? how will we distribute our products?

promotion

set of activities that are used to communicate your product/service to customers. includes ads, digital/direct marketing, sponsorships, PR, etc.

promotion - answer to question

what is the best way to get our message to consumers? what do we want to communicatie to our consumers?

distribution

determining the best way to get a company’s p/s to the customer. e.g. retailer, wholesaler, manufacturer, online

place vs convenience

know how the target market prefers to buy p/s. starting to become less relevant due to internet

marketing information management

gathering and using information about customers to improve business decision making

pricing

establishing and communicating value of goods

price vs value

price is what you pay, value is what you get

product/service management

designing, developing, maintaning, improving and acquiring g/s so they meet customer needs

promotion

dialogue between company & customer - method of delivery, timing of communication, the message, who communicates the message

selling

includes direct and personal communication with customers to assess and satisfy current and future needs

sports n enetertainment WITH

plannning & implementing activities associated with the p/g

sports n enetertainment THROUGH

plannning & implementing activities associated through the p/g

through example

car company sponsors popular sport event while using it to promote their vehicles

with example

sports apparel brand markets own products directly

with in s&e

usually the p/g is relatable to s&e

through in s&e

non-sport or non-entertainment company uses s&e to market their product

what is a need

essential for survival, well-being and functionality. they are universal and purchasing descisons are made based on practicality and functionality

need examples

food, water, shelter, clothing, healthcare

what is a want

desire that go beyong basic necessities & influenced by preference, aspiration, tastes. wants contribute to higher quality of life

want examples

high-end fashion, premium gadgets, travel, leisure activities, entertainment

key characteristics (wants)

subjective, varies, cultural/social/perspnal influence, not essential for survival

example of an evolving need

need for diapers as a parent

example of evolving want

trends that influence us - focus on wellbeing

consumer motivation

reasoning behind why consumers purchase p/g. based on needs, wants and desires. all consumers have different motivations

maslows hierarchy of needs

hierarchy that states the different levels of needs from most to least essential for survival

physiological needs

basic needs. e.g. air, water, shelter, sleep, clothing, reproduction

safety needs

to feel & be secure. e.g. personal security, employment, resources, health, property

love & belonging

support system. e.g. friendship, intimacy, family, sense of connection

esteem

for confidence. e.g. respect, self-esteem, status, recognition, strength, freedom

self-actualization

desire to become the most that one can be. e.g. following dream, be true to yourself, inner peace

key aspects of maslows hierarchy

• lower needs usually need to be met before higher ones can. e.g. its hard to focus on following your dreams, or travelling, if you can’t provide shelter for yourself

• these needs influence and motivate consumer behaviour

• higher the level, harder to satisfy

other factors that influence purchasing decisions

income, peer influence, social responsibility, ethics, technology

gross income

income you make before paying taxes

disposable income

money left over after taxes

discretionary income

money left after paying all expenses

low-income consumers

price is often most important factor

high-income consumers

brand and quality are more important

peer influence

through friends and family. often buy same brands our peers have and ask for their recs.

social responsibility

often want to buy from brands that make positive change. (lgbtq support, charity supporting, etc)

technology

enhances shopping experience

decision making process

process you go through when making a decison whether to purchase an item.

step 1 - need/probem recognition

consumer recognizes the need for p/g

step 2 - information search

consumer gathers info on p/g

step 3 - evaluation of alternatives

consumer looks at the choices available

step 4 - purchase decision

consumer purchases product

step 5 - post-purchase evaluation

consumer reflects on purchase made

potential market

anyone who is interested in the p/g and who has means to purchase it

target market

group of people that a company wants to reach with its p/g. group is identified based on shared characteristics

market segmentation

process of dividing up market into subsets of customers who share common characteristics

market segmentation dividends

demographics, geogaphics, psychographics, behaviour

demographics

age, gender, family life cycle, income, education, ethnicity & culture

psychographics

activities, interests, opinions, values

geographics

grouping of customers based on where they life (urban, suburban, rural) and climate

behaviour

purchase behaviour, benefits they look for, how and when product/service is used, how often its used

heavy users

most lucrative. marketers aim to build brand loyalty in this group

medium-light users

marketers attempt to turn them into heavy users with pricing deals, contests, ads, etc.

non-users

those who dont ever nor plan to use the product, those entering category for first time ever

maple leaf founded date

1917

netflix founded date

1997

who won most superbowls

pittsburgh steelers

definition of sports

consists of normal physical actvity or skill. carried out under publically agreed set of rules. can be recreational, for self-enjoyment, to obtain excellence, develop skill, or a combination

professional athlete

an athlete who has the will and ability to earn an income from a particular sport

profession category

includes nba, nhl, nfl, pwhl

marketing organizatios in the pros

league events presented by franchises which have their own marketing departments. revenue comes thorgh broadcasting, rickets, sponsoring, licensing agreements. commissioner usually heads a league

recreational sports

golf, tennis, bowling, hiking, skiing, snowboarding

amateur athlete

an athlete who has never accepted money, or who accepts money under restrictions specified by a regulatory body, for participatig in a competition

college/uni - NCAA & U Sports

national organizations that governs college/uni athletics and oversees important decisions pertaining to athletics

what is NCAA

National College Athletic Association

high school sports

source of pride and tradition in many communities. regional influence affect popularity of sports in north america

e-sports

form of competition using video games. often a form of organized, multiplayer video game competitions, particularly between professional players, individually or as team

olympic sports

first held in 776 BC (Olympia, Greece). only event was 192 metere. grew and was abolished, but then brought back. used to be only amatuers.

paralympics n special olympics

designed for athletes with a range of physical and intellectual disabilities.

international sporting events

soccer ( world cup), biking (tour de france), cricket, rugby

women sports

advanced immensely in 20th century. title IX advanced girls participation in sports in the US. its a law that bans gender discrimination in schools that recieve federal funds.

billie jean king

was sportswoman of the year in 1972, founded womens tennis association (WTA). defeated Bobby Riggs in “Battle of the Sexes” in 1973.

women sports today

there is a WNBA, National womens soccer league (NWSL), multiple european soccer cloubs, PWHL, etc. the stadiums arent as big, but are growing rapidly

extreme sports

relatively new. they are sports that involve nontraditional, daring methods of athletic competition

extreme sports examples

snowboarding, skateboarding, rollerblading, biking, surfing

what is entertainment

whatever people are willing to spend their money and spare time viewing rather than participating in. designed to relax, amuse or provide distraction

live performances

unique experiences. energy and interaction set them apart. there is also a level of cultural importance

live performance examples

theater, concerts, comedy shows, circus performances, etc.

digital entertainent

fast-growing form. on-demand content. allows for everyday people to become content-creators. changed how people consume and create entertainment

digital entertainment examples

tv shows, movies, yt, video games, podcasts

sports n games

pro sports, esports, board games. some are cultural cornerstones

social and interactive entertainment

more physical and social interaction. creates experiences through group participation. engages multiple senses and offers range of activities

social and interactive entertainment examples

amusement parks, escape rooms, festivals, fairs, etc.

artistic expression

creativity and emotional engagement. diffferent forms communicate personal or societal messages. promotes critical thinking as well as appreciation for culture n creativity