Sports Marketing Chapter 6 Vocab

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13 Terms

1

Applied Research

Research conducted to solve problems

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2

Interpretation

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

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3

Marketing Intelligence

Information gathered about competitors

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4

Marketing Plan

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

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5

Mass Market

Broad group of customers

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6

Mission Statement

Identifies the nature of the business and the reason it exists

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7

Product Portfolio

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

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8

Strategies

The processes by which tactics are implemented

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9

Tactic

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

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10

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

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11

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

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12

Trade Shows

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

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13

A product portfolio is

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

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