Sports Marketing A - unit 1

The success of Sports Market depends on?

Timing, new opportunities, and gross impressions

Designing, developing, and maintaining products or services to meet customer needs and wants is?

Product/service managment

True or False? The first pay-per-view sports events ever was a baseball game

False

What is not considered entertainment according to our textbook?

Participating and watching sports events

The Marketing Mix is?

Product, place, price, promotion

The primary focus of marketing is?

satisfying customers needs

Marketing is the creation and maintenance of?

satisfying exchange relationships

To satisfy customer needs, you must do what?

distribute the product in multiple ways, identify your customer, develop products that customers consider better than others

True or false? Consumer demand has little impact on prices assigned to Sports & Entertainment events

False

Researching the demographics of fans for a particular sport would be?

Marketing-inforamtion managment

True or false? Selecting a good city to host the Super Bowl is an example of distribution of the event

True

True or false? Any direct communication with customers to assess and satisfy needs is called product management

false

Gross Impressions DO NOT...

Occur accidentally

Entertainment marketers can receive instant feedback through?

Twitter, Facebook, and the internet

True or false? The success of  entertainment events often depends on the promotion to prospective customers

true

What are elements of distribution?

Selling tickets to a concert online, shipping TVs to a retailer, selecting a host city for a soccer tournament

What is not a demographic?

Price

What is not a form of promotion?

Government regulations

True or false? Discretionary income is the amount individuals earn before deductions are removed.

False

When Fisher Price tests a new toy out with kids to see if they like it they are demonstrating?

Product/service management

Demographics

Shared characteristics of a group, such as age, marital status, gender, ethnic background, income level and education level

Discretionary Income

The amount of money individuals have available to spend after paying for the necessities of life and other fixed expenses, such as housing and car payments

Distribution

The locations and methods used to make products available to customers

Entertainment

Some type of performance that people are willing to spend their money and spare time watching

Entertainment Marketing

Influencing how people choose to spend their time and money on entertainment

Gross Impression

The number of times per advertisement, game, or show that a product or service is associated with an athlete, team, or entertainer

Marketing

The creation and maintenance of satisfying exchange relationships

Marketing Mix

Describes how a business blends the four marketing elements of product, distribution, price, and promotion

Price

The amount that customers pay for products

Product

What a business offers customers to satisfy needs

Promotion

Ways to make customers aware of products and encourage them to buy

Ratings

The number of viewers a program attracts

Sports Marketing

Using sports to market products

Which of the following core standards of marketing involves collecting and using data to make future business decisions?

Marketing-information Management

Which of the following marketing mix elements makes consumers aware of  products and events?

Promotion

Designing, developing, maintaining, improving, and acquiring products or services so they meet customer needs and wants is

Product/Service Management

The primary focus of marketing is*

Satisfying customer needs

A professional sports team is trying to decide whether they should move to another city. The decision is part of

Market Planning

What is the definition of marketing? Which element of the definition do you think is the most important to a business? Explain your choice. Hint: Think about the underlined words in the notes.

The definition is the creation and maintenance of satisfying exchange relationships. I feel as if the most important one is satisfying the relationship because in order for customers to keep coming back and buying stuff then they need to be satisfied with your product and service.

Pick a product that you are familiar with. Demonstrate the 4 P's for that product. You may model it exactly like the one in your notes (Page 4) except you must use a totally different type of product.

Ugg ultra mini boot

Product: Fashion boot

Place: Ugg store, online, shoe stores (journeys, shoe carnival, etc.)

Price: High compared to retail stores such as Walmart and Meijer

Promotion: Tiktok, displaying the shoes at the very front of the store

Pick a business and explain how it uses the 7 Core Standards of Marketing to satisfy customers. Model this exactly like we did in the notes (Page 6) except you may not use the same company.

Buisness: Starbucks

Channel Managment: In store, online, app, delivery

Pricing: High compared to other cafes such as bigby and dunkin

Marketing-information managment: tracking purcahses through the starbucks app

Product service managment: Add drinks people want and take away the drinks they do not want

Promotion: app, coupons, discounts, rewards program

Selling: cashiers, baristas

Market planning: Put a lot of starbucks in one place (starbucks store, in meijer, in target)

Researching the demographics of a fan base for a particular sport would be most closely associated with which core standard of marketing

Marketing-Information Management

Gross impression can

include company logos on sports apparel, take place on a television show, involve the number of times a product is associated with an athlete

Which of the following can be considered entertainment?

performing arts, such as theater, ballet and symphony concerts