APSM 2nd exam

what is a marketing mix

foundational framework of controllable tools that businesses manipulate to influence consumer demand and achieve marketing goals

What are the 4 P's

Product, Price, Place, and Promotion

What are the "unique aspects of sports marketing"

1.Aspects of sport are intangible

2.Sport involves emotions

3.Sport is subjective and heterogeneous

4.Sport is generally socially consumed

5.Sport experiences are inconsistent and unpredictable

6.Sport is perishable

what is a SWOT analysis

analysis of strengths, weaknesses, opportunities, and threats

What is brand image

The consumers' perceptions and set of beliefs about a brand that, in turn, shape their attitudes

what is brand awareness

The consumers' recognition and recollection of the brand name

what is brand equity

The value that the brand contributes to a product in the marketplace

what are the the four industry stakeholder groups for marketing agencies

Talent, properties, corporate brands, and media companies

What is return on investment?

compares the money earned (or lost) on an investment to the amount of money being invested

why do we call it return on investment instead of a profit

bc it can be negative

What are the 3 types of marketing agencies

Full, General and Specialty

What is sponsorship

When company provides $, products, or services to a sport property in exchange for marketing rights and exposure

What are the two primary parts of sponsorships in pro sports

Sales and Activation

What are the objectives of sponsorship

brand awareness, brand image, target audience, hospitality & business relationships, community engagement, and sales activation

what are some reasons that communications in sport are different from other industries

Bc pro sports have a unique structure

what are the 4 layers of complexity in sports communication

League Governance, Interdependence, Labor Management Relations, Media and Rev power

What are the three goals of effective sport communication

Builds and organizations rep, engages & retains fans and stakeholders, improves organization alignment and effectiveness

Why is the use of digital platforms beneficial for sports teams and their communications

Engage in real time, build brand presence, and share updates quickly

What are the three primary needs of crisis communication

Quick accurate responses, clear consistent messaging, demonstrated accountability and next steps

What are the different types of facilities

Single, multi and nontraditional purpose

What is the priority of all events?

maintain a safe and enjoyable environment proper management of facility and events is crucial

What does privatization mean in terms of facility ownership?

Moving the management of facilities from the public sector to private companies or organizations

what is a public private partnership

A shared deal between a gov and private organization to build one neither could or would have been able to do alone

What are the three, pre-event tasks

scheduling, negotiating, coordinating

What are the five tasks within "staging" the event

Security, seating, customer service, alc policies, crowd control

What are the five current challenges in sport management that we discussed in class

Technological Integration, fan engagement, sustainability, health and safety, and economics pressures

technological integration example

Stadiums upgrading to "smart" venues with mobile ticketing, cashless payments, and in-seat ordering

Fan Engagement example

Creating interactive social media content

Sustainability example

Building energy-efficient stadiums

what are the benefits of e-sports

cognitive focus, social engagement, therapy, relaxation, and career prep

What are esports main sources of revenue

Sponsorship, Media rights, game publisher fees, Merch, digital streaming

How do operators of fantasy sport platforms generate revenue

Participation fees, premium service fees, sponsorships, and advertising