Sports & Recreation Industries - Methods of Sports Marketing

These flashcards cover key terms and concepts related to the sports and recreation industries, particularly methods of sports marketing.

Royalty

The fee paid to the licensor for the right to use the licensee’s brand.

Endorsement

Statements of approval concerning a product made by an individual on behalf of the producer.

Sponsorship

Stadiums named for a company, which refers to the financial support of an event or facility in exchange for advertisement.

Flexible marketing option

A company's ability to sponsor all or just portions of an event, allowing variations in marketing approaches.

Multibillion-dollar global industry

An accurate description of the sports marketing industry, indicating its vast economic impact.