DECA: Sports & Entertainment Marketing

advertising

a paid form of communication delivered to consumers by a product marker or seller

advertiser

a financial and business counselor, not a behavior monitor

agent

the legal representative of an athlete or celebrity

agent contract

an agreement which an athlete or celebrity allows a person or agency to act as a representative in marketing his or her ability and name

algorithm

a detailed set of instructions on how to sort data

Anthology series

a TV series that has different cast, setting, and story line each season

Applied Research

focus on solving a specific problem

Art-House movies

typically independent films that are outside the commercial mainstream of blockbuster films and draw smaller audiences

autocratic leader

a take-charge person who does not seek the input of team members

ad campaign

a promotional plan that combines selling, advertising, public relations, and the use of different media to research the target market

affiliate

an independent broadcaster that contracts with larger national networks for programming

ancillary product

a product related to or created from the core product

amateur athlete

a person who does not get paid to play a sport

bait and switch

occurs when a product that is advertised at a low price is "out of stock" so the salesperson tries to sell customers a higher-priced alternative

Balance Sheet

a statement that shows the company's assets (items of value, including, cash, property and equipment) and its liabilities (amounts owed for purchases made on credit and loans) at a specific point in time

Benefit derived

the value people believe they receive from a product or service

Big data

the extraordinary amount of data that is being collected and stored for marketing purposes

Blue-chip athletes

high-prospect athletes who have exceptional athletic ability and who demonstrate good character and leadership qualities on and off the field

Body Language

non-spoken signals

booking agent

a firm that contracts with the venue on behalf of the performers

box office

income from ticket sales

Brand

the name, symbols, logo, words or design for a combination of these element(s) that identifies a product, service or company

brand equity

the value a brand has beyond its actual functional benefits

brand extension

the development and introduction of new products that expand the brand and take advantage of the recognition and image of an established brand name

brand identity

a consistent image or feeling that consumers recognize when encountering the brand

brand mark

a brand name and symbol

brand name

a word or words, letters or number representing a brand that can be spoken

Break even point

minimum sales required to cover al the expenses or organizing, promoting and running the event

brick and mortar store

a retail business with a physical location or store site

bundle pricing

selling several items as a package for a set price

Broadband

high-speed Internet services

Broadcast Flags

digital bits that can be embedded in digital programming to prevent programs from being recorded and distributed

Budget

a detailed projection of financial performance for a specific time period

Business Cycle

refers to the ups and downs of the economy, also known as the economic cycle

Business Plan

a forma, written document that provides the details for a proposed new business

Business goods

goods purchased by organizations for use in their operations

Cable Bundle

a group of TV channels sold as a package for one monthly price by TV subscription services

Cafeteria Plan

a benefit plan in which employees pick and choose from various benefit options to best meet their needs

Capital

a company's wealth in the form of money or property

Cart-reminder email

an email reminding a customer of his or her incomplete purchase left in an online shopping cart

Cartel

an organization of independent businesses formed to control production, pricing and marketing of a product

Censorship

the act of altering or editing media that is considered objectionable

census

a study that counts everyone in the research population

Channel of Distribution

include all of the businesses through which products or services pass on the way to the consumer

Clarification

offering back an interpretation of the meaning of the message, as understood by the listener and than asking questions to make things clearer

Client-side researchers

in-house staff researchers who also work with external research agencies

Club Seats

premium stadium seats usually located outdoors that provide a source of high revenue

Cohesion

the act or state of working, uniting, or sticking together

Cohort

a group of people who share certain characteristics

Co-Branding

a branding strategy that combines one or more brands to increase customer loyalty and sales for each product

Cold calling

involving contacting potential customers at random without researching the customer's needs first

Collective bargaining

occurs when a group of employees join together as a single unit to negotiate with employers

Collective Bargaining Agreement

when the players' association and the entertainment industry unions negotiate an employment contract with the owners or management

commercialization

process that involves producing and marketing new products

comparative advantage

the capability to produce products or services more efficiently and economically than the competition

competition

as a characteristic of free enterprise, the struggle among companies for consumers

concessions

snack-bars that sell refreshments such as popcorn, soda and candy

consumer loyalty

consumers' attitude that occurs when they are happy with a company and become repeat consumers

consumers

people who use products

convergence

the overlapping of product promotion

consumer sales promotion

when a sales promotion is direct at the final consumer

contingency planning

the preparation for an unexpected emergency

contract

an agreement enforceable by laws that details the transactions of business between two or more people

convergency analytics

the process of organizing data from multiple sources into usable information

copy

words to be spoken or printed in an ad, to convey their message

copyright

legally protects the unique work of the originator from use by others without permission

corporate sponsorship

using the name of a product or business as part of the name of an event venue

core product

the main product, such as sports event, movie, stage show or book

corporation

a form of business in which ownership is represented by shares of stock

cost-per-thousand (CPM)

when the cost effectiveness of a specific media is evaluated based on the cost of each exposure to an add divided by its reach in thousands

cost plus pricing

pricing products by calculating all costs and expenses and adding desired profit

culture

the shared history, beliefs, customs and traditions of a group of people that distinguishes them from another group

customer management

building a customer base and carefully scheduling time spent with customers

customer service gap

the difference between customer expectations and the service that is actually received

customer's lifetime value

a calculation of the estimated profit the business will earn from the customer

crossover

an expansion of the popular appeal of an artist or work by achieving success in another market or style

cross-promotion

any form of communication through which one industry relies on another industry to promote its products

cross-selling

the method of selling the customer additional related products tied to one name

data-driven decisions

decisions based on data and analysis rather than experience and intuition

data interpretation

finding meaning in data

data mining

using technology to "dig up" data

democratic leader

a leader who involves team members in the decision-making process

Demographics

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

differentiation

when a product is customized to appeal to different markets

direct channel

the path a product takes without the help of any intermediaries between the producer and consumer

direct economic impact

the total amount of new spending resulting from an event or attraction

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

disruptive technologies

new technologies that change existing forms of communication channels

distribution

the locations and methods used to make products available to customers

economic impact

the effect produced by decisions that are made y consumers and businesses

economic market

all of the consumers who will purchase a product or service

economic utility

the amount of satisfaction a person receives from the consumption of a particular product or services

economics

the study of how goods and services are produced, distributed and consumed

ecotourism

responsible travel to natural areas that conserves the environment and improves the wellbeing of local people

emotional purchases

when consumers spend with little thought during emotional highs or lows

endorsement

a well-known person's public expression of approval or support for a product or service

entertainment

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

entertainment marketing

the process of developing, promoting and distributing products or goods and services, to satisfying customers' needs and wants through entertainment or any diversion, amusement or method of occupying time

entertainment marketing

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

entertainment franchise

a series of films, programs or character portrayals planned to expand the characters activities in a series