Sports Marketing Chapter 6 Vocab

Applied Research

Research conducted to solve problems

Interpretation

Explaining the information so that it has meaning and drawing conclusions that relate to the defined marketing research problem

Marketing Intelligence

Information gathered about competitors

Marketing Plan

A precisely written document that describes the tactics and strategies that will be used to market the product or service

Mass Market

Broad group of customers

Mission Statement

Identifies the nature of the business and the reason it exists

Product Portfolio

All the products a company has available for customers at any one time

Strategies

The processes by which tactics are implemented

Tactic

The way a product or service is differentiated in the minds of customers from other competing products or services

Test Marketing

The sales potential for a new product is tried in a regional, or otherwise small, market prior to its final release nationwide and/or worldwide

Touchpoints

The points at which the business makes contact with customers, including web site visits, e-mails, phone calls, advertisements, and one-on-one sales pitches

Trade Shows

Major events where people in a related industry meet to show their products, exchange ideas, and learn about the latest trends

A product portfolio is

all the products a company has available for customers at any one time