sports and entertainment marketing midterm study guide

What is marketing?

Creating, promoting, and distributing products to satisfy consumer needs

What is sports marketing?

Marketing goods, services, or ideas through sports and sporting events

What is entertainment marketing?

Using entertainment to market products or marketing entertainment itself

Which of the following is not one of the four P's of marketing?

Productivity

What does 'product' refer to in the 4 Ps?

The goods, services, or ideas being offered

What does 'price' refer to?

What consumers must pay to obtain the product

What does 'place' refer to?

The locations and methods used to make the product available

What does 'promotion' include?

How a business communicates with customers

What is market segmentation?

Dividing a market into groups with similar characteristics

Which of the following is a demographic segmentation factor?

Age

Which of the following is a psychographic segmentation factor?

Interests and hobbies

Geographic segmentation divides the market based on:

Location

Target marketing means:

Focusing marketing efforts on a specific group

Gaining market share means:

Increasing a company's percentage of total industry sales

Which factor most influences consumer buying behavior in sports?

Team loyalty

What is advertising?

Paid, non-personal communication to promote a product

What is personal selling?

Face-to-face communication between a seller and customer

Public relations involves:

Creating a positive image for an organization

What is publicity?

Free media coverage

What is sales promotion?

Short-term incentives to encourage purchases

What is branding?

Creating a name, symbol, or design that identifies a product

What is co-branding?

Two brands partnering together for marketing purposes

A brand extension is:

Using an existing brand name for a new product category

A line extension is:

Adding new products under an existing brand

Celebrity endorsements work because:

Consumers trust or admire the celebrity

An influencer partnership is:

When social media personalities promote a brand

A promotional tie-in is:

A cross-promotion between two related businesses

Fan engagement strategies include:

Activities that connect fans emotionally with a team or performer

Venue signage is:

Advertising placed inside or around a stadium or arena

Merchandising tie-ins include:

Products featuring team logos or characters

Pricing strategies in sports often include:

Contests, giveaways, and special appearances

A reason teams use giveaways is to:

Increase ticket sales and fan excitement

Personal appearances by athletes can:

Increase ticket and merchandise sales

Which is an example of a promotional partnership?

A fast-food chain giving away movie-themed toys

A brand's logo, colors, and mascot are part of its:

Brand identity

A team selling licensed apparel is an example of:

Merchandising

A company sponsoring a concert is an example of:

Promotion

The primary purpose of market segmentation is to:

Identify and understand different consumer groups

What is a benefit of using a target market?

More effective and efficient marketing strategies

What is the main goal of sports and entertainment marketing?

Satisfy consumer needs while generating revenue