Sports Marketing and Sales Management Lecture Notes

Flashcards covering sports marketing methods, consumer segmentation, sales processes, sponsorship metrics, and leadership principles.

Priori

Conceptual thinking based on previous experiences and understanding what works based on past research.

Posteriori

A data-driven understanding that requires observations, surveys, and interviews to drive decisions rather than sticking with the status quo.

Demographic Segmentation

Dividing a market based on quantifiable statistics such as age and gender ratios.

Psychographic Segmentation

Segmentation based on personality, motivations, interest, opinion, and activities in life.

Behavioral Segmentation

Segmentation centered on frequency and how often consumers purchase what is being sold.

Sustainable Fans Age Range

The age range of $35-55$ where the ratio of participation decline is most likely, and discretionary income is often more plentiful.

Gender Segmentation Statistics

Women control $20 \text{ trillion}$ in consumer spending and make more than $70\%$ of all consumer-related decisions.

Bachelorhood

The family type stage characterized by single status, living separate from parents, and being socialization driven.

Honeymooners

The family type stage where both people are working most of the time and saving discretionary income for houses or cars.

Parenthood

Described as the 'asset' of all family types, specializing in family packages and events to imprint children via a domino effect on merch and concessions.

Post-parenthood

A stage where kids are gone, providing an opportunity for season tickets as a filler of time for those with a lasting love for the game.

Dissolution

The family stage following the passing of a partner, where individuals seek companionship and a sense of belonging.

Personal Selling

Making sales and building relationships by capturing attention on generalized and qualified leads to acquire buyer data.

Primary Limitation of Personal Selling

Cost and inefficiency, specifically the cost per customer reached when selling to one buyer at a time.

Prospecting

The task of identifying potential buyers, their interest, and their ability to buy through generating and qualifying leads.

Pre-calling

Gathering background information on a prospect's interests to psychologically use to an advantage in the sales process.

Closing (Selling Process)

Persuading a prospect to take action using scarcity (guaranteeing attendance) or driving the initiative (upselling with coupons).

Follow up

Building relationships and reinforcing a customer's decision to buy to increase comfort and trust.

In-house Direct Mail

Marketing that works off fans already recorded in the system, focusing on frequency, distance, and family status.

External Direct Mail (Broker Selection)

Buying or renting lists from secondary companies to access specific demographics, socio-cultural elements, and psychographics.

Telemarketing

A cost-driven method tailored for urgent sell of inventory, often facing challenges like high turnover and 'zaps' or ignored calls.

Interactive Advertising

Behavioral targeting that understands fans through metrics, search engines, and click ads based on consumption consumption.

Differential Pricing: Quality

Fluctuating ticket prices based on the opponent, such as higher prices when traditional powers or rivals visit.

Differential Pricing: Time

Applying discounts during specific periods, such as lower prices during school months (April-May) versus June-August.

Differential Pricing: Place

Driving price margins based on proximity to the action or premium access to amenities.

Flexible Ticket Pricing

Strategies that combine the most desirable games with the least attractive contests, often including exchange services and payment options.

Coercive Power

A bullying tactic using threats and punishment to achieve compliance and maximize potential through intimidation.

Legitimate Power

Power derived from a long history, vast experience, and a proven track record within a particular field.

Expert Power

Being knowledgeable in a key area or having a superior skillset, sometimes involving the hoarding of information.

50/50/25+ plan

A production-based pay structure where $50\%$ of OTE is base salary, $50\%$ is bonus, and an additional $25\%$ is on top.

Merit Raises

Salary upgrades at the end of the year based on a performance evaluation of the value an employee brings to the organization.

Reciprocation

The principle of making the buyer feel like they are getting more than what they paid for.

Social Proof

Using similarity (same gender, age, background) or overcoming uncertainty to make customers curious if a product will work for them.

In-kind Payment

A non-monetary exchange, such as providing free flights to accommodate a franchise in exchange for commercial potential.

Brand Recall

Measuring how well fans recognize sponsorship agreements and affiliations after leaving an event.

ABA Model (Sport Brand Image)

A framework where A = Attributes (perception of product), B = Benefits (daily use value), and A = Attitude (positive manner and consistent purchase).

Naming Rights Reality

A lack of continuity in these agreements can decrease market value and impact basic notoriety of awareness.

Resistance Point

The safety net ceiling in negotiations that represents the furthest an individual is willing to go.

Target Point

The preferred price and true evaluation of what is being traded or negotiated for in the bargaining process.

BATNA

Best Alternative to a Negotiated Agreement; the best situation available if a deal cannot be finalized.

Assume the Close

A negotiation closing tactic described as imposing one's will and filtering words into the other party's mouth to finish a deal rapidly.

Creativity as REINCARNATION

The act of improving on an existing concept.

Systems Model: Field

The gatekeepers who approve of and affirm any new idea or product to be accepted within a specific domain.

Design for Active Behaviors

Identifying and implementing modalities that supply easy access to fan engagement tailored to daily generation behaviors.

Non-game Content

Behind the scenes footage, archived matches, training videos, and documentaries used to engage younger generations like Millennials and Gen Z.

Desirability (Innovation World)

An observational humanistic perspective of wants and needs that takes priority over historical behavioral data.

A-Z Effect: Attitude Equation

The concept that while K+N+O+W+L+E+D+G+E = $96\%$ and H+A+R+D+W+O+R+K = $98\%$, A+T+T+I+T+U+D+E = $100\%$, signifying its importance for fulfillment.

Personal Brand Components

The three components regarding the difference you make: soles, standards, and style.

Naturalistic Observation Research

A design where subjects (e.g., fans in concession lines) are unaware they are being emotionally observed regarding their behavior.

Participant Observation Research

A design where researchers immerse themselves in the setting, such as video recording rituals in a standing-room section, to gauge fan activity.